Choosing an Idea

Now that you have brainstorm and research about different business ideas, its time to think deeper and decided over one.

Helped by a Spread Sheet based on Business Professor Lundin Kent work, I display the brainstorming and research I did:

DecisionMatrix

You can download it so see all the criteria I put into. Feel free to modify it with your own ideas!

My top choices are:

Business Proposed domain name Monthly Computed Advertiser Computed Time invested Starting Investment Computed Built Web Site Best Revenue (expected)
Business Idea Model Representative Keyword Searches 10 is Best Competition 10 is Best 10 best 10 best 10 best 10 best TOTAL Rank
Spanish Translating Services Service/Utility spanish translator getitinspanish.com

1,000,000

3.7

Low

10.0

8

$10.69

6.7

7

7

8.0

29.0

1.0

Apple iPhones Affiliate Affiliate iphone getaniphone.com

3,350,000

10.0

Medium

5.0

6

$10.69

6.7

8

7

4.0

25.9

2.0

Housing finding tool Utility Roomie, Roommate theroomie.com

33,100

1.1

Low

10.0

3

$0.00

10.0

3

4.4

6.0

21.5

3.0

chess tactics page Advertising chess yellowchesstactics.com

823,000

3.2

Low

10.0

5

$10.69

6.7

5

5

2.0

20.6

4.0

Vans Affiliate Affiliate vans iwantmyvans.com

2,740,000

8.4

Medium

5.0

5

$10.69

6.7

4

5

1.0

19.3

5.0

I thought in the product/service to offer, the Business Model to follow, the domain name I would use. Also I used Google Adwords for getting information about the traffic volume to different keywords.

This is not a magic sheet, but rather a tool to help you decide. Something can be ranked number one, but if you do not feel passionate about it, or just think something else is better, you can choose something more.

I would go with the Spanish Translations Services!

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