When deciding what type of internet business you want to do, there are a few factors you need to consider before you dive into building your website.
a) TYPE OF BUSINESS
The first thing to consider is exactly what type of business you want to build. There are generally two types of Internet businesses: a full-fledged online store that sells a product or service, or an informational website that earns revenue from affiliate commissions and ads.
i) You may want to consider setting up an online store if you fall into one of the following categories:
– You have a product that you are already selling offline and you want to use the Internet to increase your market.
– You provide a service (such as consulting or web design) and want to use the Internet to sell your services and increase your clientele.
– You don’t have a product or service, but want to start an online store by partnering with a product manufacturer or wholesaler.
ii) On the other hand, you may want to set up an informative website and earn from affiliate commissions and ads. This is possible if you fall within one of the following:
– You want to create a website about something you really like or are interested in.
– You want to promote an affiliate program or a product that you like and want to tell the world about.
– You want to provide information or compile advice from various sources about something you are good at.
b) INTEREST
Another very important factor is your interest in the subject or industry in which you want to do your business on the internet. It is not advisable to start an internet business related to a lucrative industry like online casinos, but you have no interest in casinos, and even worse, you have moral issues with running casinos.
I just want you to be aware of some of the common pitfalls you may encounter if you get involved in something you don’t care about:
– If you don’t have much interest in a topic or industry, it will show in the content and quality of your website. It takes someone with considerable interest to do good research on the topic and create a website full of relevant and personal information and content.
– Without continued interest, you will slowly begin to find excuses not to work on your website. And the Internet business is an ongoing love affair. It requires constant updates and internet marketing effort to enjoy good success. If you have lost interest and start to ignore the business, your profits will also start to decline.
In short, Internet business (like any other business) requires genuine effort and interest to succeed. And it’s a lifelong love story, not a one night stand!
c) INCOME OPPORTUNITY
However, interest is not everything. Earning potential is also important. After all, there is no use working on something you love without making a profit. But the good news is that internet businesses are so cheap to start that it doesn’t take much to make a profit!
i) If you want to set up an online store, don’t just look at how big the market is. You should also look at how much competition you face in your chosen industry. For example, an online bookstore will have a large market (almost everyone reads), but there are many competitors, such as Amazon.com, with a larger wallet and more established. In cases like these, you will have to consider allocating a larger budget for advertising and customer acquisition.
On the other hand, if you want to start an online store that sells waterproof dive cameras, the market may not be that big (probably only for diving enthusiasts), but because there are few competitors, it will be easier for your business. store stand. outside. As they say, “It may not be a big cake, but you’ll get the most of it.”
ii) If you want to create an informative website, you also need to consider your competition. Also, you need to make sure that your selected theme has enough earning potential such as affiliate programs and ads.
These affiliate programs and advertisements must be related to your website. For example, a wedding planning website may promote affiliate programs related to photography and event management, but it should not promote an escort service! Also, every website can earn some extra money by placing ads (not too many) on their web pages. A good ad service is the Google AdSense program.
d) Commitment
The last factor I want to mention is commitment to your internet business. There are two types of commitment you need to consider: money and time.
By their very nature, Internet businesses require very little money to start. However, the profits do not come immediately. Websites take time, sometimes up to 6 months, to start ranking in search engines and getting traffic. So you need to plan for that time for operational losses (including hosting costs). If you’re in a highly competitive industry, you’ll also need to consider your monthly advertising budget.
However, the most important commitment you have to make is your time. As they say: “If you treat it like a business, it will pay you like a business; if you treat it like a hobby, it will pay you like a hobby.”
You need to know how much time you can devote to the business. A simple informational website can be set up gradually in just one hour a day. However, setting up an online store will require an almost full-time effort at first. Once your store is ready, your time commitment will decrease.
When you have decided what type of internet business you are interested in and how many resources to invest in it, you can look at the second step, researching your website design and content. You can check the complete Step by Step Guide by visiting the website below.
