Looking for Advice on a Direction to Take in Today's Economy

[toddperk]

Hi Fellow Warriors,

I have a couple projects juggling through my head but some of them tell me that they won't be successful simply because the economy is bad and because people are pinching their pennies. Here are some of my ideas (and please tell me what you think would be the most profitable):

1) Create a big ticket item to making money online (video and audio course) using basic marketing techniques. My target audience would be non-savvy computer users who only know how to check their email but still want to make some extra money online. I would go step-by-step on how to do this. I realize there are tons of courses and ebooks out there but I feel like I'd have something good to offer here. Out of the projects that I am trying to decide on, I feel this has the most potential as many people are out of a job and are turning to the Internet to make money.

2) I speak fluent Spanish. I would like to use my Spanish skills to extend my business on a more international level. The economy may be bad in the U.S. but there are a lot of people that have money in foreign countries (such as Spain).

3) My best friend is pursuing his Master's Degree at Auburn University in Marriage and Family Counseling. My idea here is to create a $50 to $70 product targeted to 40+ year olds that can help them have a happier marriage (using my friend's knowledge, content, and case studies).

Those are my top 3 ideas...Which one do you think would set me apart and could potentially make a nice profit? I am all about generating my own list and creating my own products. That seems to be where the big money is made if you can dominate that specific market.

Thanks in advance Warriors!

[Brad Gosse]

#3 mixed with #2

#1 is a tough road with plenty of competition against well known "gurus".

Not saying it can't be done but you will find helping people with happier marriages much more rewarding and not just financially.

[Scott Murdaugh]

I honestly wouldn't let the recession influence your decision making when it comes to launching a product or starting a business.

In my opinion, it doesn't matter which niche you're in, if you create a great product with great sales copy, and out market your competition you should be fine.

Yes, the economy is bad... But it's not THAT bad. I know many would disagree with me, but I still manage to make sales just fine. The economy has yet to affect me directly. The bottom line is most people are still spending money.

I think the marriage product could be good, and utilizing your ability to speak Spanish and reach out to foreign markets is a no brainer in my book.

Good luck,

-Scott

[toddperk]

Awesome thank you guys for the great feedback. That helps a lot! If any warriors see this thread and want to add additional feedback, please do, by all means.