Thursday, May 20, 2010

How Do I Know I Have a Great Product Idea for a Virtual Business?

How Do I Know If I Have a Great Product Idea for a Virtual Business?

The biggest question I get all the time is “How Do I Know If I Have a Great Product Idea for a Virtual Business?"

The answer is:  Do a FREE online market research that can pinpoint if you have a credible, sustainable and profitable product or service idea.  The same market research can help you re-position an existing product or service in a different profitable niche market.  Once you have identified a profitable niche, start selling it through a virtual business, even if you have a physical office.  It is difficult to succeed in today’s market without a web presence.

The beauty of starting a virtual business, if implemented properly, is that you do not have to guess if your product or idea will fly.  Thanks to the advance of technology, there are analytical tools out there that will allow you to do extremely sophisticated market research in little time.  You can do today, in just a couple of hours, what big corporations used to spend months and thousands of dollars getting the same results that today takes you only a few minutes at zero cost.

The great thing about these tools is that most of them are free or have free trials. This gives you enough time to do proper research and see if your product will be profitable for you.  If after you completed the research, you see your product is not a feasible idea, then the same analytical tools can show what other products or services you should start concentrating your efforts on to increase your chances of success.

Additional reasons I prefer a virtual business are:

  1. You don’t need to set up a storefront to succeed
  2. You will save time by streamlining your business systems
  3. You will save money by digitizing all your back office processes

This means you can wok from any place, at any time, at any pace.  All you need is a computer and internet access to get you going.

The benefits of starting, managing and growing a virtual business are endless:

  1. You can take advantage of cutting edge technology, readily available for free
  2. You can reap mega profits just like big corporations do. 
  3. Your competition will not stand a chance.  While they are trying to figure out what happened, you will have already dominated your niche market.

You can see an example of a real sustainable, successful virtual business (100% virtual and paperless) at

Anyone can start a virtual business in minutes!  You don’t need major start up capital. You don’t need investors.  You don’t need to risk months or years trying to break even. You don’t even have to gamble your savings.  

Visit Virtual Business Dashboard to get the “20 Insider Secrets for Starting Your Own Virtual Business on a Shoestring” and a video of “The Best Business to Start in This New Economy

Just visit Virtual Business Dashboard

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