Online business Idea

Discussion in 'Website Development & Design' started by sherone, Jun 11, 2009.

  1. sherone

    sherone
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    I would like to start some online business. some of my friends earn much money through online business. please suggest what would be the best business?
    1)domain business
    2) hosting service
    3) Web developement

    I don't want start web designing because now a days much competition in this fields.
    you guys plz advise me

    Thx
     
  2. Fergal

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    Welcome to Business Advice Forum Sherone. I'm happy to hear that you are interested in starting an online business and we will do our best to help you.

    All of the areas you mention are competitive, but that doesn't mean you can't find a niche that will be successful for you.

    Can you please tell us a little bit about your own background, your knowledge and skills and what type of work interests you? If you give us a little more info it will be a lot easier for us to help you.
     
  3. Nazreen

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    Welcome aboard Sherone. Yes, I also do agree that these online businesses that you've mentioned are very competitive. As Fergal has indicated, which type of business you're planning on starting all depends on you - your knowledge, skills and especially your interests.
     
  4. TimeRider

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    Welcome sherone to BusinessAdviceForum!

    As you said you would like to start Online Business, you have also given the options. But starting a domain name or hosting services business will need a lot of trust. People won't just join your site because there are better sites like that as for domain name.com, GoDaddy.com and as for hosting hostgator.com. For this you will need to make special discount or offer to the users.
     
  5. Fergal

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    You're right Devilbatista, there are major players in those industries and you wold need to offer something special or target a very specific niche in order to compete with them. Competing with them on price would be very difficult. They have huge economies of scale because of their size and they already provide very low cost services.
     
  6. nbshopper

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    It sounds like you want to take a look at affiliate marketing. That's just the process of getting traffic for other people online and them paying you for it. You can get a taste of this with our site, if you create lists of items you like, then refer friends to these lists we pay you a commission. That, in essence, is what an affiliate marketing website is all about. We get commissions from the shops we feature on our site for all the sales we generate for them.

    Many people have made a lot of money with affiliate marketing, but there are also a lot of get rich quick schemes and people who are happy to take your money for a worthless ebook on the subject, so tread carefully. :) It's fun though, and quite addictive... Before you know it you'll be writing on forums like this at 7.30 in the morning because you can't sleep as you're thinking about the next big way to promote your website.

    Want my advice? Make a pick list lol :)
     
  7. freelancewriting

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    Hi Sherone,

    The 3 businesses that you mentioned is really money making thing, however it will depend on your "will to succeed and the determination to research more, in order to know more about the business you will love to be in, this time. :)
     
  8. Lalucochin

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    Sherone, The easiest business is domain business as it involves less investment and you can make lot of profit through research. You need to enter into a business in which you have interest and not just any business for the sake of profit.
     
  9. Fergal

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    The most important thing is to do something you really enjoy. If you don't enjoy it, there's no point. Plus if you enjoying your work it is much easier to find the motivation and inspiration to work through the difficult times.
     
  10. bobsmith

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    web hosting is too competitive

    If you want to start a business in website hosting I can tell you from experience it is way too competitive unless you hae a niche or a unique product to offer.

    With companies like yahoo going to unlimited plans for $10 a month and competitors with $3 plans with unlimited everything it is hard to compete.

    I spend between $20,000 and $100,000 on a single server and then it has to be programmed and maintained 24-7. So trying to make back money at $10 for everything is virtually impossible.

    I have tapped into a different market. The DIY website people. Build your own website and we provide all the tools and programming. It is a unique model that every webmaster said would fail and laughed at me. They told me people needed ftp access and php and control pannel. I told the webmaster 99% of the people don't know what that is and don't care. They just want a website.

    5 years and 10,000 customers later I am the one laughing.

    My point is that every market no matter how saturated and over worked can be a gold mine if you varry from the standard products. Take a step out of the box and take a chance and it should pay off.
     
  11. Fergal

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    Welcome to Business Advice Forum Bob and thanks for sharing your experience with us.

    Please feel free to promote your service in your signature and in our Member Ads section. We have a lot of members that may well be interested in that kind of service.
     
  12. nbshopper

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    Very interesting post, and on the whole I agree, but I don't understand how you can pay $20,000 - $100,000 on a single server? That's one expensive computer :) What about getting virtual servers or reseller plans? Even dedicated servers bought from big hosting companies are a lot cheaper than that. It's getting the customers that's the tough bit, as you say it's competing with big offshore companies with lower overheads and thin margins that makes it very hard to make a real profit. Economies of scale and all that.
     
  13. Gabriel

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    Starting an online business is a popular option for people who want to get rid of their day jobs. Despite some claims, it is not easy, nor will success come overnight. It requires money, time, dedication, and research
     
  14. Fergal

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    I agree with you Gabriel, and unfortunately some people will only find out how difficult it is after they have wasted some of their money on scams and get rich schemes. Where possible it can be very helpful to try an online business in your free time before leaving your job and committing to it 100%.
     
  15. Andi21

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    Domain and hosting service would be a good joice because people are very interested in this kind of business.
     
  16. Neung

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    You would have to offer something very unique to break into the hosting market, there is already way too much competition. Maybe creating a free ad supported account for younger people who cannot pay for a domain and hosting at first and then very cheap starter accounts.
     

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