One of my former employers taught me a valuable lesson in making money on the Internet. His simple concept has shaped the way I find income for years and it has never proven to be the wrong choice.
His philosophy in creating new ventures was simple:
Don’t innovate, imitate and then improve
Or in other terms never try to reinvent the wheel. The wheel already works. What you need to determine is if you can improve on it in any way.
This isn’t to say that if you have a revolutionary new idea for a product or service that has never been done that you shouldn’t go after it. The chance of being the next “big thing” is definitely there, but the chances of success in those situations is far less than you might imagine. If you do have the next great idea, work it on the side, for everything else follow these simple tactics.
This article assumes that you’re going to be developing a new web presence, whether it be a blog, website or … Whatever. therefore the terminology used will be about a new web site. Your exact focus isn’t important, but the method is. In fact, this method would work if you were planning on staring a new restaurant or dry-cleaning shop. It’s about how you approach it, not exactly what it is.
Find a site or service that you really like:
If you aren’t in love with the concept you’re trying to imitate, it will show in the end product. If you aren’t the financial type, don’t try to build a better version of a blog that reviews financial services. Your readers will quickly abandon you when they discover your heart isn’t in it.
Sign up and work with it for a while:
Become an active member on the site. Go through all of the features that are offered and become proficient with them. Sign up for newsletters and RSS feeds. Remember, you like the concept enough to want to emulate it, you’re going to have to know how everything works. This is not the time to rush!
Define the site’s strengths:
What are the owners of the site doing incredibly well? you’re either going to have to do these things just as proficiently or simply accept that they are better at it. How can you add value to your visitors in these areas or can you compete at all? You have to know before you get started.
Define the site’s weaknesses and determine if you have the skills to do it in a better way:
This is the most important pat of the process. Determine where you and perhaps other users of the site feel that it falls short. if you’re going to be any kind of competition you are going to have to squash these issues before you launch. If you have previously found that the site far exceeds your abilities in one area, this is the place to distinguish yourself from the pack. Even if you’re on level ground with all of their strengths (and you probably will not be), don’t make the same mistakes that they have made. Do these things right the first time.
Check the competition and make sure someone hasn’t already done what you were considering:
There is nothing more disappointing than spending a great deal of time and effort on a project only to find that someone has already beaten you to the punch, so before you get in too deep, go check out your target site’s direct competition. while you’re at it, assess their strengths and weaknesses as well. In the end you have to offer something different and more useable than each of these services. You have to stand out.
Plan, Plan, Plan:
You’ve checked the competition, you know that you have the capability to offer something that they can’t, or at least do what they are doing better than they have managed to do. Now it’s time to lay the groundwork. Buy your domain name, set up hosting hire designers and developers that you can trust to turn your vision into a reality. Set up a facebook and twitter account to start a buzz in your chosen niche. All of this has to happen before you launch. You want people waiting to see what you have to offer, not finding it on their own sometime down the road. A site launch benefits from a little buzz.
Get at least a small group of testers together to work out any kinks. You may have made sure that you aren’t recreating your competition’s problems, but you’ll surely have some of your own. If you’re running a community site, that group of testers will also make the site look a lot less empty when it first launches, and this is a good thing. Nobody wants to be the first to sign up.
Mind your professional manners:
Just because you’re using an existing concept does not give you permission to use any of your competition’s content. You can’t “borrow” their layout, images or text and you don’t want to. You aren’t building a clone, you’re building something different and you want to be sure that people can see that the minute the site opens in their browser window. If you are perceived as nothing more than a knock off of some other site you will find it difficult to attract new visitors and even harder to keep loyal readers.
Wrapping it all up:
There are those who scoff at the idea of doing “the same thing everyone else is doing.” These people will tell you with a smirk that “it’s already been done” and that there really isn’t a point in the effort. These people are missing a very important point. if someone else is doing it and making money, then there is money to be made. There’s a market for it and if you are willing to work at it, you can get your share of that market.
In the course of my career in the Internet industry I’ve seen many people fail at selling their big ideas. I’ve seen far fewer people fail by following in someone else’s footsteps. They may not make millions, but they make a profit and they are free to pursue other projects.
Still think I’m mad? Consider your local area restaurants. I’ll lay bets that at least 4 of those are burger joints of some description. Each one of these places does basically the same thing, is producing the same kinds of product and each one has its loyal followers. If there was no money in it, they wouldn’t be doing it.
the fact of the matter is that each one of those burger joins does what it does just a little bit differently. For each person that thinks that difference is great, there are three who don’t agree. The other places take up that slack. All four are getting steady business and their customers are happy.
The same is true of websites that offer basically the same services. Take Google Mail, Hotmail and Yahoo Mail as examples. Each provides the same service in slightly different ways, but none of these services has a lack of users, or a lack of revenue. Some people prefer one over the other and that’s all that matters. Most people choose their favorite service and use it exclusively. Others use all three, but both types of customers bring in potential income.
Don’t try to reinvent the wheel. Get out there and build a better one. it takes less time, less effort and in the end can make you more money.
Jerry Blogging, Business Sense Blogging, Business, site cdesign, site considerations