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 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.
Crystone
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