Online business is not so different from any other sort of start-up venture; the same principles apply. Think about what makes an “offline” business successful, and then analyze your Web business in the same way. To get you started, I’ve outlined some of the essential steps you’ll need to take.
This Online Business site is organized along the same lines, so you can get additional information on any of these steps when you need it.
Determine your Business Model
Just as in an offline business, you’ll have to figure out how to make money. It will help if you create a business plan, and consider what other successful online businesses are doing. Some options include:
- extend your existing “brick-and-mortar” business online
- sell products
- sell services
- sell information
- sell advertising
- become a reseller
Consider your competitive advantage.
2 comments:
Interesting post. I want to run a business soon, so I'll keep this post in mind. Becoming, what I hope, an entrepreneur is somewhat new to me, so I can use all the help and advice I can get! I know it'll be tough. Lately I've been thinking about the idea of buying a business instead of starting from scratch. I'm not sure what I should go for. Franchise? Home-based? I don't know. Do you have any suggestions or advice? Thanks!
Rachel –
You're right. It will be tough running your own business, but if you stick through it, it can be extremely rewarding. If you really do want to be an entrepreneur and buy a business, then I suggest searching the Internet to what is available in your area. There are sites, like BizTrader.com, which are online global marketplaces where you can buy and sell businesses. They can also provide you with additional resources like finding a lender, broker, etc. I also suggest checking out current books and magazines for help and advice. Local small business groups can also be very helpful, and it doesn't hurt to network. Good luck!
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