Starting with your own business.

Discussion in 'Starting a Business' started by psrb4u, Dec 10, 2012.

  1. psrb4u

    psrb4u
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    I've been in the field of computer and technology for quite some time and after analysing my option, I want to start my own online shopping website in India. So, I'd love if you could share me some suggestions how I should start and what type of product should I sell that has got low investment and sufficient profit. I really need some advice. Thanks in advance.
     
  2. Fergal

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    Are there any particular types of products that interest you psrb4u? Do you plan on buying and selling products or will you become an affiliate for existing businesses?
     
  3. eelizasanchez121

    eelizasanchez121
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    Before starting the business we should research of the market. How many people are interstate in the business which you want to establish.
    How many competitors of your business.
    What methodology they are used for promoting the business and for gaining the more benefits.
    How much amount needed for starting the business.
    and at last but not the least that your business is how much beneficial for you.
     
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  4. santoshsinha

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    A number of things got to be thought of before beginning your own business. There square measure such a lot of things to accept, and clearly the most goal is that a business are going to be undefeated and achieve the items folks need. It can be aforesaid that brooding about the way to begin your own business would come back all the way down to a minimum of a number of the following: probability of sort of business succeeding, problems concerning cash and credit, ability to grasp all responsibilities of a business on a government level, and degree of business savvy/education.

    First and foremost, a business sort has got to be weighed to see its probability of succeeding or failing. Before beginning your own business, some marketing research is required. for example, an individual would possibly plan to sell Avon® cosmetics, that will need AN investment. One question has got to be: what number people square measure presently mercantilism Avon® within the neighborhood? If the solution is kind of some, this might not be the foremost undefeated business venture; the market is already saturated.

    With any sort of business, folks will ask: what's going to be the competition, and is there a established or probably would like for the items/services provided? typically beginning your own business suggests that observing what’s accessible initial, then decisive business sort. In different words, folks ascertain what's missing within the market they need to sell to, and appearance to providing that missing part.
     
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  5. Sprinkles

    Sprinkles
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    There some business considerations that one has consider:
    1.Availability of market
    2.technology
    3.government policy and
    4.the raw material
     
  6. tahoecale

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    You should see who else is selling for product and who is in your area also check for keywords you want on google and see who is ranked in them first
     
  7. kenwells

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    In looking at your question, you know starting an nnline shopping website, is going to be tough, there's going to be a lot of competition you're going to have to know that getting right into it.
    You would really have to focus, on a specific niche, in order to do well and its not as easy as just building a website. It needs to have content, it needs to be optimized, you need to have backlinks coming in.
    I would like to make a suggestion, either you should be an affiliate marketer because you have a background in computers and technology, maybe what you could do is sell affiliate products, that relate to computers and technology, it's an area that you already know very well. It's something you can do, if you don't actually want to do a servicing in a particular area, you can promote other peoples products and services, or affiliate marketing, its more or less the same thing but there's a slight difference there. I hope that helps.
     
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  8. TimB

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    Take baby steps if you are planning to start your own business. Research the market, identify the variables that can effect or boost your business. Then identify your target market and micro level niche. See the trends of the products you want to introduce to the market, study the big competitors and distinguish the KSF’s (Key success factors).
    Don’t start up at a larger scale, gradually grow and improvise!
     
  9. Mark T

    Mark T
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    I think it would be better if you become reseller or affiliate first. Research and study that kind of marketing. From there on, you can try to deliver a business plan as well as what products can you start investing with and selling at your online shop.
     
  10. sendey

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    hi

    If you are planning to start a new business, you also have many factors to consider, 1) write a business plan 2) choose a business Location Carefully 3) Finance Your Business.
     
    #10 sendey, Dec 18, 2012
    Last edited: Dec 18, 2012
  11. Bharat Book

    Bharat Book
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    There are three step to follow before starting you own business.
    Research the market :- You should have enough information what is going on in market.
    Identify and study your competitors
    Funding and investment for the business.
     
  12. 2misi.com

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    Determine the right product for the right target market. Research the competitors strengths and weaknesses to figure out opportunity and threat of operating the business.
     
  13. kristenhanna

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    There are many options available for your to start your business online. To start your online business, you should first research and analyze well which is the best products and marketing trends for now. I can say that nowadays Mobile app is the common trend every people are interested in. There are heaps and heaps of mobile apps are coming into the marketplace.
     
  14. 2misi.com

    2misi.com
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    Please go through this good article and hope it may help you in running better business.

    Today's Business Opportunity Market


    There are usually 2 independent factors that contribute to an increase in people looking to get into their own businesses. Lower interest rates play a significant role by allowing individuals to finance their business at attractive rates. Next, the job market: when jobs are plentiful, people first think about switching companies rather than considering self employment. When jobs are scarce, owning a business becomes a viable option.

    Most people dream of owning a business. For most, there are 3 possible options that make sense: starting a business, buying a franchise, or buying an existing business. All have their pros and cons, and the choice depends upon the specific needs, goals and expectations of each individual.

    Start Ups

    I've always believed that everyone should start at least one business from scratch in his or her lifetime. It can be one of the most exhilarating and educational undertakings you will experience. Unfortunately, the chances for success are not very good. In fact, over 80% of all start ups fail in the first three years and 80% of those that make it, fail in the next two years. That means that 96% fail overall; quite an expensive education, isn't it?

    The biggest culprit contributing to failure is lack of capital. I have started several businesses and I've now come to expect the following:

    1. Revenue comes in about half as quickly as originally expected
    2. Expenses are usually much higher than anticipated
    3. The world is never as excited to buy my products/services as I thought they would

    Of course, many start ups survive, and thrive, way beyond expectations. Certainly, I've had some blockbuster experiences, but several dismal failures. If you're going to start a business, it is critical that you not only plan properly, but you are certain that you have the financial resources to endure a slower than expected period to profitability.

    Franchises

    Running a franchise can be a wonderful starting point for those making the leap from the corporate world to self employment. The beauty of franchises, in theory, is they provide you with a recipe to operate your business, covering all of the daily activities that you can expect to encounter. While it does sound attractive, one must also realize that the potential upside is generally limited.

    Gone are the days of obtaining master franchise rights for an expansive territory, unless you buy into an unproven franchise. Typically, as soon as your franchise location begins to achieve some success, the master franchiser will open additional locations nearby. In effect, your "partner" becomes your competitor.

    Keep in mind that the franchiser's agenda is to sell you a franchise. Surely, they want you to succeed, but opening new locations is their corporate objective. So while they may provide you with additional support, it is important for you to do your own research to be sure that you are capable of running the business and that the market and location are right. Your relationship with the franchisor is crucial. If you do not feel confident and trusting of them, then you must carefully consider whether or not you want them as your partner in this venture.

    Existing Businesses

    Buying an ongoing enterprise will provide you with benefits that are not available in either a start up or franchise. With an existing business, you'll have:

    1. Historical financial information
    2. A built in infrastructure (employees, customers, suppliers)
    3. Immediate cash flow

    While this sounds wonderful, there may very well be a premium for these added benefits. However, when it comes to investing your money, the objective is to make a prudent long term decision and an existing business offers you the largest potential upside. Plus, you'll generally negotiate directly with the seller and so you can construct a creative deal that will allow you to acquire the business for less than you would expect.

    Regardless of what road you choose to pursue, the most important thing is that you do something! Everyone knows that unless you have a senior position within a company, you simply cannot get rich working for someone else. Even if you're an executive with an attractive compensation package, you're one bad quarter away from unemployment.

    For many, owning a business is a dream. For some, it will become reality. Your fate is in your hands. Whether you choose a start up, franchise, or existing business, it can be done. It's up to you. Currently, the market is in your favor and the time is right for you to finally put yourself in a position to be your own boss.
     
  15. Tracydcarrow

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    Follow before starting you own business.

    A market for my product?
    What do they do and what can I do better or differently?
    My target market think of you product or services.
    What is the best way to promote my product or service?
     
  16. andrewtarant

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    It is necessary to study all the important factors like finance,future,man power etc before starting new business on web. It is good idea to start online business but the success and popularity both are only depends on the strategies you used for your busienss to become popular and successful in the market.
     
  17. Michail98

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    psrb4u, this is one of the toughest questions to get a simply answer too, and is one you should be asking to get ideas. Based on my experience, stick with what you do best. You say your background is in Computers and Technology, then look at products and services that draw upon your knowledge and interest. Trust me, there will come a time during the life cycle of your online business when you start to question yourself and start to second quest your decision to start an online business. At that point, it's easy to just give up if you have very little knowledge and you are not interest in what your doing. Now, I know that doesn't answer your question but it's good advice. So let me give you a few ideas:

    Small Electronics website.....if you don't have the investment for the inventory, then start out as a drop-shipper (you can do a search for drop-shippers to get some ideas just due your due-diligence's)

    As one member already suggested.....become an affiliate and promote software, apps or plugins

    Lastly...build you a Amazon affiliate site selling high end laptops, netbooks and desktops. With your computer background you should be able to formulate some great reviews, and individual who are interested in purchasing high priced electronics tend to due a fair amount of research prior to their purchase. Now, this one may turn some heads, but if done correctly you can do very well with a Amazon affiliate site. I know this personally because I have 2 clients that each did well over 30,000 each with their Amazon sites this past year.

    hope this helps...
     
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  18. psrb4u

    psrb4u
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    Thank you all for your valuable advice and suggestions.
     
  19. Fergal

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    That's fantastic business, how long did it take them to get to that level of sales?
     
  20. Leejeong

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    I can't give you advice since I'm not on India. If it will be a local online shopping website, you should check what products are "in" for India this year. What Indian stuff trends are rising? From there you will have your product idea. And also check its marketability, number of competitors, and buying confidence of your fellow countrymen.
     

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