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1. • CommentAuthorjoyously
   • CommentTimeJan 12th 2007

    
   My Big Question is....
   How does a newbie judge whether a venture might be profitable to
   start, and know when to bail out? Basically, I'm asking about
   standards to use when you don't have any idea what's what.
2. •  
     CommentAuthormike
   • CommentTimeJan 12th 2007

    
   Very good question. Here are some guidelines:
   
   1) Is there an easily identifiable market? If you don't know who to target, how to target them, then pass.
   
   Side note: Given PPC advertising, reaching niche markets is becoming easier and easier
   
   2) Is the market large enough? If it is too small, then pass
   
   Side note: If your product can be shipped, then most likely the market is large enough
   
   3) Do you offer something unique, can you separate yourself from the competition? If no, then pass.
   
   Side note: This is where lots of people struggle. There are too many me-too sites out there. Think creatively
   
   4) Can it be profitable?
   
   Side note: Have a product with a high selling price. Selling a $9.95 product on your own website is hard because it costs a lot of money to buy traffic.
   
   Also, subscribe to our free lessons. We talk about this in more detail. Hope this was helpful.
3. • CommentAuthorjoyously
   • CommentTimeJan 16th 2007

    
   That all sounds good, but it's vague. For #1, OK. For #2, what is too small, how much is large enough?
   For #3, how could you find the competition to know your offer is unique?
   For #4, how can you tell?
   How about when you start something and don't know if you should wait, test and tweak, or bail out?
   I've received your free lessons, but I guess I didn't get this part.