The 5 best tips for picking the right winning idea and making real money on the Internet.

How to pick a Winner - Not a Wiener! By Tom Sheltraw

Have you ever heard it said that if you want to make money on the Internet you have to offer your own product or service? Well that's 100 Percent true.

The best moneymakers have always been and still are unique products or services that are fully under your control. The big secret is, you earn all the money if you control the item.

Here are the 5 best tips for picking the right winning idea and making real money on the Internet.

#1) Start with what you personally know. Surely you have experience in your work or hobbies so start thinking about how to turn that information into a real business. What are you good at? The better you are at something the better the information you will be able to give to others.

#2) You must find niche! Find a market that allows you to offer a unique product or service. Never try to be everything to everyone. Never try to appeal to a broad generalized market, this is a fast road to failure. It would seem that a product that millions of people would want would be a sure winner but the reverse is true. If millions of people wanted it, there are likely millions of Web sites offering it.

Imagine selling screwdrivers on the Internet. It's very possible there are one million Web pages selling screwdrivers. But how many sites sell screwdrivers for left-handed people with no thumb? This example might seem strange but you get the picture. An interesting benefit in this example is that you become an expert in your field. Experts are always in demand.

#3) Never spend your valuable time trying to come up with a brand new idea. Others have made this mistake and failed while those that came after them profited from their mistakes and went on to be successful. Without a doubt the best thing for you to do is to find something that is already being done and then offer improvements. Surely you've said, “I could do that better” or “ My ideas better than that.”

The key is finding anything that needs improvement. Is there a product or service that you use or you've heard others talk about that needs to be improved on? Is there anything about the product or service that is not being offered that would be of value to others? The key here is to fill the need that isn't being met. If you can do that, people will buy.

#4) it is extremely important to stay away from any industry that is overcrowded or over done on the Internet. One way of determining this is to do a search on the Internet and use keywords that describes your product. A search in Google on the keyword “screwdriver” returned 656,000 matches. If the keywords you picked were “left-handed no thumb screwdriver,” I guarantee you would be the only web site found. This definitely increases your potential for sales.

You must set yourself apart from your competitors. This is called a Unique Selling Proposition. There has to be compelling reasons for them to do business with you rather than anyone else. What makes you unique? It's unlikely you'll be the only web site on the Internet for your product so you must make yourself stand out as well as compel people to buy.

#5) There are products that work well on the Internet and there are those that don't work well at all. Consider the following as general rules to consider:

a) Your product or service must be generally appealing. Selling plugs for igloos would probably appeal to only a handful of people where selling a hat with built-in sunglasses would be more universally appealing.

b)You must make a product or service that is not easily available in your prospects community. If you try to sell dish soap on the Internet, I doubt you would have many takers. It's available in every store in every city in America. There must be a distinct advantage in buying from you. Being unique and hard to come by is the best reason.

Your price can be another reason but obviously only if it is less than your competitors. Another reason for them to buy from you would be a bundled offer. An example would be if they buy the left-handed screwdriver they would receive the left-handed wrench for free.

c) Your product must be easy to ship. Although Pre-Built Houses are shipped across the nation you would agree that shipping the hat with built-in sunglasses would be far easier for you as well as being inexpensive in comparison.

d) Remember to do your research. Do it carefully and do it completely. Know what your market is and how large it is. Find out who your competitors are and what they offer. If they’re already your competitors they have a head start. Don't try to compete on level ground with them. Find your unique advantage and exploit it. Decide what makes you different, what makes you better and then make sure the customer knows it to.

One last thing. You cannot charge for something that is already on the Internet for free. That means if you picked up an article, eBook, program for do-dad for free don't expect to make a killing by reselling it. Here again the best idea for making money is something you have full control of. The article you wrote or the program you design or the product you've built is the way to make your money on the Internet.

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Tom Sheltraw is a writer and entrepreneur with over twenty years of business and marketing experience. He owns and operates InfoFYI.com Helping you to “Fire Your BOSS and Live Your Dream” Because, being Broke .... SUCKS FREE Startup Business report http://www.infofyi.com/free-report.html Click now for your FREE Report! Publishing guidelines: Please feel free to publish this article as long as it’s contents and resource box remain unchanged.