Identifying Primary Business Activity / Business Field

Discussion in 'Growing and Managing a Business' started by flyingSquirrel, Jan 6, 2015.

  1. flyingSquirrel

    flyingSquirrel
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    Here are the key points of the business I plan to start up:

    Website 1:
    - Photography blog with great content
    - Selling ebooks, tutorial videos, etc
    - Near future, affiliate advertising and other ads
    - In the future, selling physical products shipped to customer
    - In the future, offering personalized coaching and portfolio critiques

    Website 2:
    - Selling my photos as prints and other merchandise

    So that will eventually be my business (but smaller at first, building up to what is listed above over time)

    How do I identify the Primary Business Activity / Business Field for the business idea described? I assume I must also know this in order to officially form my business.

    Is it possible to legally do all of these things under one single business, or would some of these things require me to make a second business?

    Thank you
     
  2. prestonp

    prestonp
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    The nature this business would be Service industry, if you are not the one who will produce prints and other merchandise.

    I am assuming your focus will be on Photography. The ebooks, tutorials, marchendise, other physical products, and coaching will all be focusing on photography right?

    If so, your business model would be Print and Media.

    There are several websites over business that have similar business model.

    Check out:
    http://www.printmag.com/
    http://howdesign.com/

    Both above mentioned site belongs to a same Brand, they are basically owned by same group. Their Business Model is Print and Media, though their focus is more on Designs, not Photography.

    If I have understood your situation correctly, then this means your Business Model is Print and Media with Niche of Photography and Revenue Model would be Advertising, Selling Merchandise and Products.

    It is imperative to know your Business Model, Revenue Model, Niche and Target Market to conduct business efficiently and so you can develop strategy that is focused specifically on your exact market. Your target market would most probably be; designers, magazines, media outlets, and other photographers, though you need to do more research to confirm all this.

    It is legally possible to do all this under one single business. The websites I have mentioned above is perfect example of that.

    I hope that answer all your questions.
     
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  3. flyingSquirrel

    flyingSquirrel
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    Thanks for the reply. Very helpful and I appreciate your time. Regarding the above quote, specifically for the website that will be selling my photography as fine art prints and calendars, etc, when people purchase the items, the order would go directly to a company that would print the items and drop ship them to the customer without the print company's branding (so it appears to be from me)..that is, if I can figure out how to set up such a system. So the print company is basically a "middle man." To clarify (which may change your answer a little bit), I would not be producing the prints, but it would be my photography sold online as art to the customer, with the focus on the sale, so I wonder if the industry would be online sales? I thought that Service industry would be more like I am providing a direct service from myself to the customer..which in this case seems that the print company would be the service industry, and I'd be the sales industry. I will have to research this more. That is all specifically for the site selling my prints and art.

    The other site (blog) would be where I market / sell the ebooks and videos, etc which I would be producing myself and then offering for sale through an ecommerce system/service.

    My target market would definitely be other photographers only, because that is what all of the blog posts, training, ebooks will cover - info and techniques on how to do photography and edit photos.

    Thanks again for your help and any feedback you may have on the above comments :)
     
  4. prestonp

    prestonp
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    This means you will be outsourcing the production contract to a third party company. This will still make you a part of service industry. Apple, Nike and many big brands outsource their production to a company in China (this is why you mostly see "Made in China" tag). These brands don't bother with production decisions, rather they focus on marketing, research and development (which include product designing, development and planning; but not production).

    Similarly your focus would be R&D and Marketing (which includes selling).

    Your situation is still pretty much the same. You don't have to bother with production decisions.
     
  5. flyingSquirrel

    flyingSquirrel
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    Ok, thank you very much for your help!!
     

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