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I have an idea I am excited about, it is a large market in the US at around 60 million potential customers. I've been researching and there is a lot of competition with some well known companies. I think I have some ideas that are not being implemented but I am in the process of researching all the similar sites I can find to see what they offer.
Does anyone have any tips on determining if it is still worth taking a shot with a lot of competition? I know its a good sign on one side because that means there is a lot of demand. I loved what MJ DeMarco said in the book about not being scared away from competition, I guess what I am trying to determine is there a certain point there is too much for the market if you have limited resources to get the site up and running.
If it turns out I can only add a few things that are better than what is available is it worth pursuing or find another idea?
Doing Google searches for common key words shows 4 adword listings at the top and four at the bottom, nothing on the side. I am just learning about adwords but is it possible to compete with companies that have deep pockets by buying adwords? In other words would it be impossible for me to be seen with a limited budget or does the system work in a way that I would get top listings for x searches so the difference is deeppockets.com might show up high on 10,000 searches and I show up high on 1,000 searches. Just trying to get an idea what to expect.
Another note about the key word searches the competing sites were high on the regular results. Would it be possible to use adwords as a way to rank high, at least for however long I pay for adwords.
Another thought, is it possible a market is large enough that you can have a great site that is just as good as the competition and there are enough customers to still make money?
Does anyone have any tips on determining if it is still worth taking a shot with a lot of competition? I know its a good sign on one side because that means there is a lot of demand. I loved what MJ DeMarco said in the book about not being scared away from competition, I guess what I am trying to determine is there a certain point there is too much for the market if you have limited resources to get the site up and running.
If it turns out I can only add a few things that are better than what is available is it worth pursuing or find another idea?
Doing Google searches for common key words shows 4 adword listings at the top and four at the bottom, nothing on the side. I am just learning about adwords but is it possible to compete with companies that have deep pockets by buying adwords? In other words would it be impossible for me to be seen with a limited budget or does the system work in a way that I would get top listings for x searches so the difference is deeppockets.com might show up high on 10,000 searches and I show up high on 1,000 searches. Just trying to get an idea what to expect.
Another note about the key word searches the competing sites were high on the regular results. Would it be possible to use adwords as a way to rank high, at least for however long I pay for adwords.
Another thought, is it possible a market is large enough that you can have a great site that is just as good as the competition and there are enough customers to still make money?
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