1. Process
1.1. STEP 1: Break down what content I want to create for project [ie.software, audio, video, PDF, manuals, etc]
1.1.1. What do I envision the theme of the product to be?
1.2. STEP 2: Define the content development costs and time to complete each content type
1.2.1. Do I have existing content that can be repurposed? [ie. footage from a seminar]
1.3. STEP 3: Calculate total development costs and production time
1.4. STEP 4: Determine how many units I need to sell to recoup development costs
1.4.1. ie Total costs are $250. 20 units at $20 a piece = $400 which leaves a profit of $150
1.5. STEP 5: Prepare to test the concept to ensure it has the potential to generate $10,000 a month with minimal effort following the next steps
1.6. STEP 6: Do keyword research to discover the size of the potential customers and if I can compete with existing products
1.6.1. Use this tool for free keyword research
1.6.2. Hire someone to do keyword research for you by clicking on the arrow
1.6.3. Choose key term to research [ie. "dog training:]
1.6.4. See how many people search that term monthly
1.6.5. Calculate the CTR at 1% using the monthly searches
1.6.5.1. This is how many people would click on my online ad (PPC - Pay Per Click)
1.6.5.1.1. EXAMPLE: There are 22,876 searches on Google for "dog training". Of those 1% come to my site = 228.76 visitors to my site
1.7. STEP 7: Calculate website conversion rate at 1-2%
1.7.1. Take the total number of site visitors from the CTR calculation in STEP 6 and multiply that number by the on site conversion rate to determine how many site visitors will purchase
1.7.1.1. EXAMPLE: At a 1.5% conversion rate 3.43 site visitors purchase (228.76 x .015 = 3.43)
1.8. STEP 8: Calculate estimated profit
1.8.1. EXAMPLE: 228.76 potential customers come to my site (Monthly searches x CTR) of those site visitors 1.5% purchase my product that has an average cost of $X which results in $Y profit
1.9. STEP 9: Research the cost each time someone clicks on your PPC ad (Pay Per Click) to determine advertising cost
1.9.1. Tool: Google AdWords
1.9.2. ie 50 cents per click
1.10. STEP 10: Calculate Advertising Cost
1.10.1. EXAMPLE 50 cents per click x 228.76 clicks (from step 6) = $114.38
1.11. STEP 11: Calculate post advertising profit
1.12. STEP 12: Evaluate the ROI% of post advertising profit
1.12.1. EXAMPLE: $428.72 in pre advertising profit for $114.38 in advertising (PPC) is 375% ROI which is great
1.13. STEP 13: Do the same calculations with another key term
1.13.1. brands names
1.13.2. synonyms
1.13.3. related topics