a. There's not enough demand for the product/idea or

b. You're ahead of the curve in seeing the profit potential.

Unfortunately, in most cases, that result means that there's not enough demand for your idea in the way that it's been presented.

3. The "so what" factor. From your research you should be able to clarify what it is that you're offering and what group of people need what you're offering. In order to be successful, your offer must pass the "so what" factor in light of your competition. To take this test, you must successfully be able to answer the following question after telling someone what you do, "So what? How is that different from what x, y and z are offering?" You can answer these questions best if you review the benefits of what you're offering (the What's In It For Me) rather than just a listing of the features, and if you can speak from the heart about your idea. An online business will take time to manage and develop, so you want to settle on something that you love. If you don't enjoy what you're doing, you quickly become a prisoner in a prison of your own making.

4. Industry information. Set up Google Alerts for your industry keywords and track them from info posted on websites, blogs, and newsgroups. Reviewing the alerts you receive over the next few weeks should help you expand your view of the problems/issues with your subject, help you see the "movers and shakers" in the industry, and help you discover other places (blogs, discussion forums, social networks) where your target market hangs out online.

5. Test the waters. The easiest way to test your idea is by creating a blog. Buy a keyword-rich domain name for the blog and map your blog to that domain. Then begin to blog about your insights on your topic, or reprint articles others have written on your subject. The idea here is to begin to establish your online presence and your online brand.

6. Build a list. Once you've got a blog set up, you need to begin to build your marketing list. The easiest way to do this is to create a free giveaway on your site (ebook, video, report, audio recording) and a form for the visitor to input his name and email address to receive your giveaway. Your privacy policy should be readily available to them and outline how you'll use their info and what they can expect to receive from you. You'll also need an email marketing service or shopping cart service to manage your list.

7. Crown yourself the expert. The only way to become an expert in an area is to believe that you are one. By virtue of the research you've already conducted, you know more than a large percentage of your target market. Therefore, don't hesitate to begin to refer to yourself as an expert in your industry.

8. Drive traffic. Once you build your blog, they (visitors) won't come without some encouragement. Create profiles on prominent social networking sites like Facebook and Twitter. Start writing articles about your topic and submitting those to article directories. Discover if your target market hangs out on niche-specific social networking sites and start networking there. Interview experts in your industry and release the interviews as a podcast. Create a weekly email newsletter to stay in touch with the prospects on your email list. Create powerful inbound links by getting your blog listed on various blog and website directories.

9. Implementation time. Rome wasn't built in a day, and neither is a successful online business. Allow at least three months to give your idea a test run and evaluate it after that time. Have you been able to build a list? Are you getting traffic to your site? Are you attracting the attention of others in your industry? If so, you're ready to move to the next step.

10. Move forward. If you determine that your idea is viable, what's next? Creating info products or a membership site? What are your longer term goals to develop this idea into a business? The best way to harness all the info that you've collected thus far is to create a business plan. It doesn't have to be complicated -- it can be only one page, in fact. What you need to commit to paper is your offer, your target market, your ongoing goals for how to monetize the idea, and an outline of how you plan to grow the business over time.

It's not too late to get your start in an online business. Don't be distracted by the false promises of quick wealth overnight. Success takes time and planning, so invest some planning and research time into your business idea. That's the strongest foundation you can create for yourself to become a successful online entrepreneur.

About The Author
Internet Marketing Strategist and Boomer Biz Coach Donna Gunter helps baby boomers create profitable online retirement businesses that they love by demystifying and simplifying the tools and strategies needed to market and grow their businesses online. To claim your FR*EE gift, TurboCharge Your Online Marketing Toolkit, visit her site at OnlineBizU.com. Ask Donna an Internet Marketing question at AskDonnaGunter.com .

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