When to go for Online Business?

Discussion in 'Website Development & Design' started by dahlia84, Jun 6, 2008.

  1. dahlia84

    dahlia84
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    I always have wondered why in this earth would one want to have an online business. I came to know from a local E-marketing magazine about the statistics that more than 60 percent of the people today, have desktops with broadband connection at their house.

    But then again, just because people have access to the Internet it is not necessary for us start a business online. Is it? So, when do you think it is apt to go for an Online Business?

    I am not much of a practically experienced person on running E-Business but still, I would like to share what I have heard, read and been told.

    1. If you run a very small business go for online business. The secret is, "The smallest businesses can appear much bigger online". In addition to that you can avoid the costs of a physical location. Also, taking order over the net will reduce your order processing costs.
    2. If you have a product that can be or needs to be promoted world wide then for an online business.

    These two are the only scenarios that I can think of for when to opt an online business. Please do share your suggestions and views if you have any :)
     
    #1 dahlia84, Jun 6, 2008
    Last edited: Jun 6, 2008
  2. pankaj

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    I don't think people who can't afford to have a PC and a net connection can go for online business. They are not so rich that is why they have very small business.
     
  3. Nazreen

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    Yes, I do agree that running an online business especially an online store will save you the expense of renting an office/warehouse space. Most small businesses in the U.S. have started from their very own homes and some just started in ebay or yahoo auctions.

    With the profits that they earned from ebay and/or yahoo auctions, they were able to build up their product inventory and some even opened up their own online stores.

    As for the second one, it's not only products that can be promoted online but also services. If you're really good in website design or scripting or anything, you can create a website for yourself and also promote your services.
     
  4. dahlia84

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    pankaj - Small business in the sense not that small to an extent where they can not even afford to have PCs Lol In that case, they better not have a business at all. I meant businesses where a small team (may be of two or three) people involved. They can afford to build and maintain a website for their business than spending huge dollars on the rent, electricity bill, etc etc.

    Nazreen - That's what I exactly wanted to say. Sharing the profits with customers by means of discounts, gift coupons, etc will bring in more customers.
     
  5. DEADMAN

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    I don't think that even starting a small business won't make you affordable to buy even computers and networks. Even cottage industries have the minimum investment of 1 lakh rupees, so it won't have problem to buy computers and manage their networks. That's all. Correct me if I get wrong.
     
  6. Fergal

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    Obviously it would be difficult for someone who can't afford a PC and an Internet connection to start an online business, but I've no doubt but that it does sometimes happen.

    For example someone could start a forum posting service, using the services of an Internet cafe, and promoting their services on various freelance and forum sites. They wouldn't need their own computer and they could build their business from there.

    Getting back to the original question, I would say that the main reasons why people start online businesses are because they enjoy what they are doing and / or they want to make money from it.
     
  7. Nazreen

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    As to the question as to when is the appropriate time to go for an online business, I guess anytime would be as good as any. As long as you're ready, then go ahead and start your online business. But I think that the earlier you start your online business, the better you'll be since business in the internet is fast-paced. If you've already established a foothold, then your business is better off than those who've just started.
     
  8. tony alva

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    first determine what you wanna do and how helpful is it gonna be for the users. Do you really think it is gonna be beneficial for the users. Do a survey Cause your product gotta be people centric otherwise no one is gonna search for it. Then do research on your subject. Have knowledge abt your competitors as you will get an idea how tough or easy its gonna be:)
     
  9. Fergal

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    Hi Tony, welcome to Business Advice Forum and thanks for posting.
     
  10. JPolito830

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    I hafta agree with Tony here...and by the way, welcome to the forum!
     
  11. Nazreen

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    I'd also want to welcome you to the Business Advice Forum Tony.

    I think that's the first time I see the word people-centric here in BAF. Yes, I also have to agree. Most products and services should be people-centric and I have to add that every aspect of the business, like management, should also be people-centric.
     
  12. tony alva

    tony alva
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    online business

    If you have a product that can be or needs to be promoted world wide then for an online busine



    How do you determine which product is to be promoted.
    The answer is again market research.
    Why market research?
    you will know what is that the customers want. Most of us first create a product and then try to sell it. Our kind of products are already there in the market and probably we are the 25 th type to enter the same field but the secret lies in giving something that no body else is doing Create a customer centric product :)
    "The magic is in the product":
     
  13. Fergal

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    Providing a unique product or service would be fantastic. Have you any tips on how to come up with unique / new ideas?
     
  14. SandraVMG

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    If you are thinking of any online business, chances are that there are already too many sites about it on the internet. So you need to really do some indepth market research to come up with a good niche.

    Try something unconventional - any and everything works! It just needs to fulfill a need, a requirement...

    As a first step, you'll need an attractive website - coz that's what spells your presence on the web
     
  15. Fergal

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    Sandra makes a good point, there are so many sites on the net and once someone comes up with a good, novel idea it is quickly copied by a huge number of other sites.

    When you have a good idea it is important to have a professional user-friendly site design and to get your idea "out there" quickly. This can help you get a loyal customer base before all the copy-cats come along.
     
  16. Nazreen

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    Sometimes the copycats also profit from trends especially the fast and early ones. Just take a look at the Harry Potter trend... many have profited by creating a website on just Q&A, Unofficial Bibliographies, and Characters in Harry Potter. But still, if you're a copycat, you must still be early because if you're not early... you're late! :D You've missed your opportunity, that is.
     
  17. Dean-123

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    That's what puzzled me now? I am planning to set up my own website, but it seems not a suitable time.
     
  18. Fergal

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    Hi Dean, welcome to Business Advice Forum?

    Why do you say it is not the right time?

    Do you have a particular business idea in mind?
     
  19. Nazreen

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    Dean, what do you mean? As long as you're not too late in setting up your own website, it should be okay. If you're building a website and there are already a lot of websites offering the same services as you, then better think twice before you launch you're website. An exception would be if you're planning to introduce a unique twist or innovation to the website which would give you an edge over the competition.
     
  20. Fergal

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    You could also consider offering a more localised version of the service, e.g. targeted at your own town, city or country.
     

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