Software exists because of the fact that people cannot possibly come up with all related keywords themselves, so I think this is rather untrue, unless I miss your meaning here. To test this theory go to thesaurus.com and type in ANY word, but before you do try to "imagine" all the possible synonyms first. When that list shows up, you will be trounced by the software everytime. The situation is compounded even more with keywords as they are phrases, not just single words.
A suggestion was made above about using your google analytics data, and I must agree with that as you will find a LOT of great new keywords not just from your own website, but from competitors as well. This is however, after the fact strategy.
When building a new website you want to be on the ball right from your launch day. I am a keyword junkie and have ALL of tools for these, but the one I tend to rely on MOST is Market Samurai.












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