INTRO: Having a game plan or plan of action before you jump into the game of generating business profits is important to do so you know WHAT to do and if your plan stands a higher chance of succeeding. Once you have a clear plan of action and you know what to do it’s time to take ACTION.
After you follow the action steps below you’ll discover the estimated profitability of what you plan on selling and if your business niche idea will be worth your time pursuing. If you prefer using an excel spreadsheet to document your findings you are welcome to download the Niche Game Plan Spreadsheet. It’s up to you though how you document your gameplan, but the main thing is you DO IT!
For those using our spreadsheet you’ll see at a glance what offers are profitable or not to promote as your core products. Core products are the main offers you plan on promoting. Complimentary offers can be promoted as well but usually on the side, or combined with your core offers to incentivize others to purchase them.
Its important for you to realize that if the commission and/or profits you make per sale are just a couple dollars or less you’re going to have to sell A LOT of them to generate the cash you want each month. I recommend finding a core product/service to sale where you can make at least $30 dollars per sale or more to begin with. The other items you make only a few dollars off of or less consider selling those as complimentary products. Again, a core product is the product you spend most your time selling and complimentary products are those that support the sell of your core product.
ACTION STEPS: Using the Niche Game Plan spreadsheet you’ll need to first research and document the focus keywords you want to use as the basis for your marketing of each item you plan on selling. Afterward you’ll record the commission percentage and your estimated sales goal for each item. Assure that the keywords you ultimately document are customized to: 1) your ideal target audience is, 2) the needs of your audience, and 3) the solutions you plan on promoting to solve those needs.
Watch this video to learn how to fill out the Niche Game Plan Spreadsheet
First, set your monthly financial goal up at the top right of the spreadsheet. At this time just set a monthly financial goal you’d like to shoot for.
Place your mouse over the heading of each column to read the “help text” instructions on what to do.
Confirm the estimated commission or profit you’ll earn per sale.
Set a sales goal you’ll like to shoot for with each product.
When you’re done make sure the profits you stand to generate surpasses your monthly financial goal you set in point 1 above.
In summary, when you are done with completing your game plan you should be empowered with a clear vision of the estimated profitability of your particular business niche and understand if it would be worth your time pursuing. Once you’ve established your plan of action you can determine if it finding other offers would be better or adding more products, or even speaking with the suppliers you work with and establishing higher payout rates for larger sales volume if you can deliver such results.