The Leadership Stack Podcast

Ep.248: Market Research And Inventory Tips For Business


Listen Later

Sean: All right. The next question is from Patrick. How do you do market research for your business? What are the factors to consider to have a business that has a market?

One easy way is actually to put the keyword for that business. So for example, if you're selling Taho, maybe put that keyword on Google and see how many people are actually searching for Taho. So I'm going to go ahead and open an incognito tab and share that screen with all of you. This is just one way to do it. I'm not saying this is how you should be doing it. So yeah. Why not Taho?  Right?

Calories, benefits. Okay. Vendor is there, right? It's one of the, what? Top one, top two, top three, top four, top five, top six, top seven. It's a top seven most searched for keyword when you type for Taho. And then for the eighth and ninth, you just know these three, these four, actually these four right here, these are people looking for the Taho. So do you have a market? Probably, yes. Right there and then that could be one part of your market research.

You also have other tools that you can use. For example, like SEMrush. Just a disclaimer, I'm an affiliate. SEMrush is a partner of mine. I love their software and if you want to use it, you can use my link in the website: from.seo-hacker.com/semrush. Yeah so you have the keyword research here, or you can use the Keyword Magic Tool. I just go usually for a Keyword Magic Tool. The Philippines would be the country and you put in Taho. So right here, you would be able to see, oh, there's 33,000 searches every month for the word Taho. What's happening in there?

So you could take off like south, chevy. These are not the words you want, because obviously these are keywords from the US. Right? So just exclude them from the results. You can do that. Yeah. And then you could just zone in on the keywords that you might want. Like the vendor. Definitely that's one. So there's a thousand searches per month for that. Strawberry Taho, probably. Homemade Taho, yes, probably.  Strawberry Taho Baguio, yeah.

And then you add up all of the volume and you get an idea right now that, oh, probably we have like, I don't know, 15,000 searches every month. That's a pretty good number. If I can service that with a website where people can order Taho and I can deliver it to them at home. Perfect. Then you have a working business. That's one easy way to do it. So Patrick. I hope I added value to you by showing you exactly how I'm going to do it. Yeah. That's how I do it.

Why don't I do more business if I know how to do it this way? I can't manage more people and more and more businesses. That's the easy answer. I'm already giving my best a hundred percent with SEO Hacker. So just choose the business that you're going to give your all to. Focus on that. Right? You can't split yourself too much.

Youtube: https://www.youtube.com/leadershipstack

Join our community and ask questions here: from.sean.si/discord

Facebook: https://www.facebook.com/leadershipstack

...more
View all episodesView all episodes
Download on the App Store

The Leadership Stack PodcastBy Sean Si

  • 5
  • 5
  • 5
  • 5
  • 5

5

9 ratings


More shows like The Leadership Stack Podcast

View all
Follow the Money: Master the Markets, Build Wealth, and Achieve Financial Freedom by Follow the Money Podcast

Follow the Money: Master the Markets, Build Wealth, and Achieve Financial Freedom

86 Listeners