How to Select your Small Online Business?

In today’s internet revolution (availability & speed), everybody can start a small online business within minutes.  Out of the numerous types and categories of online businesses, how you will choose one?
 Really it is very difficult and dangerous (in case of failure in this business, you will incur valuable as well as irreparable loss both in terms of money and time), since reportedly around 95% small online businesses are a sheer failure. Online business may vary in goal, form, type, category, investment, education, interest, time availability, & manpower. You are the master of your business world & the small online business unit is your brainchild. Hence you have to choose the type and structure of the proposed small online business unit. How?
Let us name some online businesses such as ‘Business Blog’, ‘Auction Selling’, ‘Website design’, ‘Arts & Crafts Business’, ‘Email Marketing’, ‘Ecommerce Website’, ‘Writing Articles’, ‘Bookkeeping’, ‘Coaching’, ‘Podcasting or Video Show’, ‘Survey works for companies’, ‘Graphic Design’, ‘Animation’, ‘Freelance Consultancy’, ‘Internet Research Business’, ‘Creating Membership Sites’, ‘Virtual Assistant’, ‘E product Development Sites’, ‘Creating Niche Forums’, ‘Manpower hiring & Recruiting’, ‘Software Programming’, ‘Online education & Tutoring’, ‘Forex, Commodities  & Share Trading’, ‘Organizing Workshops & Webinars’, ‘Online Tours & Travels’, etc.
Let us discuss the major parameters as stated above for your reference. Before starting any small online business, you must ask yourself the undernoted questions, and listen to the answers through your mind. If you are able to fetch good marks from your ‘Mindschool’, then initiate the business & drive it to a great success.
1.     How much time you can invest for your new online business?
Say, if, you are working at best for 3 hours a day for your new business, we will call you a part timer, & if working for at least 8 hours a day, a full timer. Choose your business as per the availability of your time.
2.    What is your educational background?
The choice of the business type/category must accord your qualification.
3.      What are your investment criteria?
Some online businesses like creating ecommerce websites may need huge investments, & a few dollars are required to run a business blog. Choose your business unit as per your funding capacity.
4.    Are you solely trying to set up the unit or forming a like minded group for that?
The selection of the business unit depends upon the answers  to the questions above.
The examples of  Amazon.com (Approximate Annual Turnover =$61.09 Billion USD), Ebay.com (Approximate Annual Turnover = $14.07 Billion USD) , & Flipkart.com (Approximate Annual Turnover = $100 Million USD) shows the big players in the dot com industries with huge investment, whereas, Digital Inspiration (Approximate Annual Blog Income = $7,20,000 USD – Reported) , ShoutMeLoud (Approximate Annual Blog Income = $1,20,000 USD – Reported) & JohnChow (Approximate Annual Blog Income = $5,00,000 USD – Reported) are examples of blogs having meager investment.
Now I think you are able to choose a better online business unit, which will be a milch cow in near future.
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