In the step before I thought in a service and many business models that can fit it.
It is important to know that it works the other way, pick a business model that fit your life style, and they come up with as many as products that you can think about.
Before moving to the next step of researching your context, it is important that you have at least 10 business ideas, the more the better, and you will be able to take a better decision.
Research your context consist in getting to know the competence and demand of every business idea.
Because we are focusing on Web Business, I will show you how to use Google in your favor!
We’ll be using Google Adwords to research our context!
First create a free account at Google Adwords.
Once created in the top right you’ll see this navigation bar.
Select Keyword Planner.
Click second Item “Get search volume for a list of keywords or group…”
A new dialog will appear:
In option 1, type keywords that you think people would search to find your business online.
Click get search volume!
You will see a monthly report of the amount of searches for those keywords/search terms.
Ideally you want a lot of searches, a low competition!
You can search for other keywords related to one business idea. Be careful to not be generic. In this case the keyword “Spanish” is not listed because is very generic. I want to know how many search for learning Spanish.
Repeat this process for every business idea you have. This way you can know about the demand and competition!