Hey Team, I have been thinking about an idea, Basically I want to start testing these business in a box type programs that are always popping up and record my findings on each one, with videos and statistics ect. When these things are sold to the public they are often quite vague and don't really tell you what they are about, so I would like to buy them try them out and then tell an audience (through a website im yet to make) about the particular product. Im sure most of them will come back with an "Avoid" result, but hopefully I would find some gems among all the crap. Do you guys think this website idea is viable? I would be utilizing a blog, YouTube and most social media to promote and to deliver results. This potentially would cost quite a bit over time as some of these programs id have to buy can be costly. Please tell me what you think? Im very interested in feedback! Cheers.
You need to find a template for a business plan and go through all the steps. My main concern would be that the upfront fees you need to pay and the time you put in won't be recouped by the money you earn - made harder by being in a western country. If you are motivated by altruism then that may not be an issue. You also need to look at what other sites there are out there covering the same ground. Are you prepared to work harder and smarter than them?
Thanks sarahk Ill do some research in to some kind of business plan. Yea I do think alot of the idea comes from wanting to help others, I see alot of money being wasted everyday by people that cant really afford to lose it, they just get sucked in by well written sales pages only to get bugger all (like help or guidance) on the other side. I would love to see an end to this. Ultimately I would love to make some $$$ from it (Who wouldn't) but I do understand that this would take time, I wouldn't expect to turn a profit straight away.
I think it's a good idea, especially if you do multiple "in a box" companies that are similar and compare them. I can definitely see people looking for websites or YouTube videos that do this rather than just reading information for each.
I know a few marketers who have review type business plans. Their reviews are mostly at the product level in lieu of business in a box type. I know two of them that gross 7+ figures a year, so it is a viable plan when done right. The key I think is complete honesty with your results. And keep in mind that if you get a reputation of "failing" or coming down hard on a majority of your reviewed products those marketers will likely ban you from purchasing their future offerings.
In addition to paying for the programs, spending the time to evaluate them, writing up the evaluations, etc., you then need to figure out how you are going to market and monetize the site. That is a lot of upfront time and cost. Then, if you do get a good amount of traffic, you next need to be prepared to pay for any legal wrangling that may result from a bad review. There might be a profitable business in this idea, but navigating through the thicket to get there may be tricky.
Hey JoeSpirit, thats a good point about possibly being banned from purchasing products in future for being hard on particular products. I think I would be pretty fair, basically I would evaluate their sales pages and find out if the product is everything they describe as well as see what their after purchase support is like. If their product is everything they say it is then there should be nothing to worry about, Im not going to just be hard on a product for fun, I will be fair. Hey jrbiz, thanks for the reply, firstly I wont mind the marketing part I realize it will be very time consuming but i have done this previously and is one of my favorite parts on owning and operating your own website. I already have a pretty good idea on how to monetize the website effectively. Legal stuff might be a little different though, I have ever been down that road, Ill take it as it comes.
I agree that there should be nothing to worry about Nicholas - if the product is everything they describe. Unfortunately, I think you'll run into very few products these days that fit that requirement. I think you'll have to include parameters in your plan detailing at what point you'll decide something like, "I'm not even going to bother writing a review for this product because it's so bad it's too risky." And part of that will no doubt need to include the legal issues that jrbiz mentioned.
There are a number of marketers who do this already and I think that as long as the reviews are honest, they are a great help to people trying to find a program that fits them. Look at your competitor's sites and do yours a bit better, whether that means giving a more in-depth perspective, or giving your opinion what type of people/marketers/niche...you get the idea.