As I first sat and began brainstorming ideas, I was overwhelmed by the process and unsure if I would be able to settle on a single idea in enough time to maintain the time schedule of this class. I was indecisive about what kind of business I wanted to operate and what type of product or service I wanted to market. After reading Brainstorming Business Ideas and watching Russell Brunson and his Secret Magic Box, I began to have a better understanding of how to filter through some of my ideas.
After developing a list of 20 potential business ideas, I moved on to evaluating each idea based on demand and competition. Using the slightly out-dated video, How to Use Google Keyword Planning Tool, I was able to learn how this business analysis tool can be used to test market demand and competition without expensive focus groups or surveys. Using Google Adwords, I was able to access the average monthly searches for each given business idea based on key words associated with each idea. Google Adwords also provides insights into current competition that already uses these same keywords for their own sites. Utilizing this tool has allowed me to narrow down and rank my existing ideas into my top five most viable ideas.