Need help to choose idea for online business

Discussion in 'Making Money Online' started by elshaarawy, Aug 1, 2013.

  1. elshaarawy

    elshaarawy
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    I would like to open online business, for example create a website(web service).
    The problem is that I can't find a proper idea.
    I give you example. Nowadays is very popular a voucher websites in Estonia (example is Groupon in England).
    But I suppose this idea was taken from abroad.
    Therefore I ask you to tell me what's online business are popular and actual in your countries?
    Thanks in advance
     
  2. Rocky

    Rocky
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    It depends on what your skills are and what you would like to do. A business I'd like to do might not be possible for you. Moreover, you need to consider your location as well. What works in place may not work in another. You would know better about what would work in your location and depending on your likings you can think of going ahead with it.
     
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  3. Fergal

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    I agree with Rocky, it really depends on your own personal skills, experience and most importantly passion. You are more likely to be successful in business, if you are working in an area that you are genuinely interested in. Is it possible for you to please give us a little more info on your background and interests?
     
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  4. TimeRider

    TimeRider
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    As Rocky said, It's not about what Business is running around and making money. It's all about you, what you want to do? The thing is dedication, hard-work and giving 100% to your job. Like, If a computer shop makes money around your area, you have to know basic of computers at-least to start it. If you have no idea about it, then probably you can be turned down.

    Also, I suggest you not to go for a Business that won't make profit in your areas. Like going for same business type where there is a huge competition of same business in particular market.
     
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  5. Constantin

    Constantin
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    I totally agree with the advices in the previous posts. What Rocky, Fergal and devilbatista are saying is that:

    1. You have to do some research and find out what niches are not covered or are partially covered (so there is room for improving the offer). Just make a list.
    2. Check out which ones of those niches you could cover. Be honest with yourself, here (do you have all the resources required: knowledge, finances, connections etc. and is it something you would enjoy doing for a longer period of time?).
    3. Expect for a lot of hard work to be required from you, especially during the first few months after you start. Of course, this can be fun, too, if you like what you are doing.

    Good luck! ;)
     
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  6. AmbitiousStudent

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    the best thing you can do is look into something you enjoy. if i opened up an e-commerce store on selling state of the art cutlery i would find that incredibly boring to promote and potential customers would feel this. i would also have to do some research and read through blogs on top of the range cutlery which isn't something i would look forward to. However, I might want to sell nothing but the state of the art scuba diving accessories and gadgets to help improve a scuba divers navigation as he is cave diving in florida. I would even go on youtube and see what everybody is raving on about and would also be happy to search for a gadget that is very popular but is only found in the dive shops of south east asia. I'd try and bring that gadget to exotic places in central america or southern europe and see if it sells just as it does in the tropics of SE Asia.

    My advice is to look at your hobbies and see if in any way you can improve other like minded people's experience with that particular hobby.
     
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  7. devip

    devip
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    There are many online business which are successful in a short period of time these days but again there are business which dont flourish very easily and capturing the online market needs lot of efforts. To gain customers faith is very important in online business. Whatever you start see to it that your need lot of visibility in online market to become successful here.
     
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  8. Dana Franklin

    Dana Franklin
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    Health and Fitness can be a good niche, but you have to consider you passion firsts.
     
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  9. elshaarawy

    elshaarawy
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    Thank you guys for your interesting and productive answers.
    Well, I can tell few words about me.
    I am a student, study on a 5 course in university, occupation is IT, but IT is not my favorite topic, but I like IT too.
    Of course I understand that we live in 21 century and IT is very popular, a lot of business related with IT, web sites and etc.
    The most interesting themes for me is: politics, history, science, afterworld and all related with unexplained phenomena, terracts (for example 9/11 is very interesting theme for me, I watched a lot of documentary films and read a book at leisure about 9/11).
    I suppose I need relate these themes with IT (web site development), but I haven't ideas. Of course I can start to run a blog about 9/11 for example or about Edward Snowden ))), but this is not a business )
    PS about my opportunities:
    - I have some knowledge in a programming, IT
    - I haven't connections
    - I have a little finances
     
  10. amwarner

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    If you're going to do a business, it's always best to do something that you know alot about ...or, do something on a subject that you're passionate about. You say you're an IT person but it's not your favorite subject but you have programming knowledge. You could do something in the IT field ... maybe a review blog on different technology that comes out or something.

    Or create different niche sites about various programs you have knowledge in.

    Anyway, that's what I would suggest.
     
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  11. OlegLola

    OlegLola
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    Hi!
    If you have a limited budget, that means that you should rely only on yourself, at least at the beginning. So you just need to choose what you can do the best, choose several ideas, search the net for additional information, analyze pros and cons of your competitors and then begin.
    Good luck!
     

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