Starting in IM/MMO

Not just yours.

Not only is it a little bit wrong, but it's extremely ill-advised and is almost certainly the single commonest reason for failure. For all the reasons explained in these posts ...
Guess who is going to have the most profitable business?
Most Lucrative niche in Internet Marketing?
Suggest me some popular niches
I am in the niche of MMO (clickbank)
Why do all my attempts fail?

Yes, a few tens of thousands of people come up with that idea every year, as well. Some imagine that because it interests them, they're going to get loads of other people interested in it, too. The charitable and tactful way to look at what they're doing is to assume that they're understandably very naive and inexperienced, and genuinely don't appreciate that they're trying to do the same thing as tens of thousands of others, of whom only a very tiny fraction will ever really profit from doing that.

I admire your ambition. I won't embarrass myself by telling you how many times more that is than what I was earning after 16 weeks. Nor (in another way) by telling you what I earn now. However, I offer you the observation that (because the income-curve is non-linear) the great majority of people "venturing into internet marketing" significantly overestimate what they can earn quickly but also significantly underestimate what they can earn slowly.

1. Read carefully the threads I've linked to, above, and have a good think about them.

2. Stay as far away from any niches in the MMO and/or IM markets as you possibly can, and you'll stack the deck greatly in your favor rather than completely against yourself, Colin.

And good luck!

Hi Colin,

The MMO niche should be looked at similarly to medicine. If you don't already have significant experience (and proven track record) making money online you have no business trying to tell other people how to make money online.

Think about it this way. You wouldn't want to take medical advice about your heart condition from some construction worker who happens to have read the last 3 years of the New England Medical Journal, would you?

Same logic applies.

I would propose that instead of trying to break into one of the most overcrowded markets out there, you would be much better off serving a small (or even not so small) niche market.

You'll have a much easier time of it.

If you need help in choosing a "real" niche as opposed to the MMO niche I'll be glad to hook you up with a copy of my guide on choosing a profitable niche. Just let me know.

Hope that helps,

Tony

I can't answer this with any kind of facts or backup but judging by my observations here LOTS of people start this way. The typical process as described by those starting out here is to start with niche research. I don't know exactly what they do but based on keyword research
(and the use of expensive and, in my opinion, unnecessary software) and some sort of twisted SEO voodoo they come up with what they believe to be low competition markets they can exploit.

If I'm known for anything around here it's picking a profitable market where customers perceive a problem and are willing to pay for a solution. But that's the easy element because most successful business operators do that. Here's the part that they refuse to buy into. Pick something you know, or better yet, one you're passionate about. The reasoning is simple.

New marketers are faced with a massive learning curve. To make this stuff work you will need to devote a lot of time and attention to what you're doing. And if you've just picked a niche based on profitability and not something you like the work becomes rote and unappealing. That's where people stall because they get up in the morning dreading the day in front of them.

And to answer your question, if they're in a position where they need to come across as someone who has actually had success with the market (like MMO) they find it necessary to pretend they've done it or actually lie about having done it. This is a recipe for failure and for some, a lot of guilt.

When you choose to market a product or service you know and like you aren't nearly as likely to develop frustration and resentment toward it.

After someone has had success with a particular market picking a product based on profitability alone makes far more sense because they are now familiar with what needs to be done and EVERYTHING about the process is easier.

Most don't listen though. So it goes...

Thanks for all the excellent responses which pretty much confirm what i was already thinking! I had a feeling this was the way it worked with people making money by telling people how to make money. Pretty much a pyramid scheme unless somebody has the real experience to back it up!

That now lets me sit at a comfortable point and feel better knowing I haven't just got some weak willed, lilly livered view on extracting money from people

OK so I have some pretty different stuff that I don't believe has been done much and also is a) something I love and b) Is something that will really make people happy so a win win if I can sell it.

As stated I have a book about to launch in weight loss as it's something I have massive experience in so have no problems selling this information but after writing one book on it I feel I would much more enjoy chasing my real passion which is all things mechanical, electrical and suitably dangerous and fun

A big thanks to all the people who have taken the time to write very well thought out and lengthy posts, your help is very much appreciated!

I had best get writing my book and building my "real" business

Colin,

I'm sure you know you need to start by listing down your available resources? Specialized knowledge in certain industries. Significant skills in related subject areas. Real world authority expertise in relevant niches. Substantial experience that associated markets can relate to. Time. Money. Contacts in private and public institutions and communities. Next:

I believe you already tried pinpointing urgent problem areas and immediate needs in those industries, subject areas, niches and markets that you can solve and satisfy with your available resources? Then:

I'm sure you tried formulating value added propositions? Combine your available resources and develop a set of solutions for those problem areas and needs that can't be found elsewhere. Now:

I'm sure you're familiar with SWOT = List down your Strengths, Weaknesses, Opportunities and Threats as someone who's trying to establish a business that'll be offering unique solutions for the specific problem areas and needs of specific markets in specific niches under specific subject areas covered by specific industries where you have specialized knowledge, significant skills, real world authority expertise, substantial experience, enough time, enough money and good network resources? At this point:

I believe you know the importance of integrating the right PPTs into the backend and frontend systems of your business development methods, production strategies, marketing campaign techniques and sales tactics? This means:

I'm sure you're familiar with PPT = Hire the right People. Formulate the right Processes. Implement the right Technologies. And:

I believe you also know MSTT = Learn fundamental Methods, then effective Strategies, then efficient techniques, then results-oriented Tactics that are most appropriate for hitting the target projections of your business. And:

By keeping these things in mind and carefully using them in your brainstorming sessions -- Were you directed by your data to zone in on the IM/MMO niche as a profitable venture where you can invest your available resources in?