28 Sep 09 Starting An Internet Business
Starting An Internet Business
Starting an internet business can seem daunting especially if your experience of the internet is limited, the internet may still seem like some intangible commodity with no real assets and high risk. However this couldn’t be further from the truth, the reality is that the internet is the world’s fastest growing and largest marketplace.
The internet supports everything from Government initiatives, new business ventures and business expansion. It is utilised by over 60% of businesses worldwide including blue-chip companies and household brands such as Apple, Barclays, Tesco’s, B&Q and Honda (to name but a few). These and other companies understand the importance of the internet, the vast resource the internet offers to businesses, consumers and organisations, creating seamless transactions and instant information-access without the normal off-line now-unnecessary waste of energy or time.
British Chambers of Commerce – Businesses Should Trade Online
John Dunsmure, Managing Director of the British Chambers of Commerce, states: “Businesses must now innovate even further to ensure they have a competitive edge whilst keeping costs down. Trading online and an engaging web presence means they can achieve this whilst being able to sell to a worldwide audience and increase sales capabilities.”
Recession Proof Internet
The internet also happens to be recession-proof! In 2007-2008 high-street sales fell dramatically as people tightened their purse strings in mid-recession causing some high-street brands to close down. However during the same period internet online sales rose by up to 17% in the US, and in the UK the total spend in the first six months of 2008 (£26.5 billion) was up by 38% on the same period 2007. In fact figures now show that 17 pence out of every £1 pound spent by UK shoppers is going online (Guardian.co.uk).
Could The Internet Sustain Another Start-Up Business?
The answer to this question is 100% yes! The internet creates the perfect marketplace for starting a new internet business, allowing you to reach a targeted audience quicker than any other traditional marketplace. If you have a solid e-Business Model your new internet business will generate traffic and income, with over 100 billion searches per month (ComScore) the internet offers massive potential for any e-business with the right e-business strategies.
Choosing A Start-Up Internet Business
When it comes to deciding the type of internet business to start it’s a good idea to seek start-up business advice or use a professional internet business broker to discuss your plans. There are several questions you should ask yourself when thinking about starting an online business;
Do you enjoy challenges?
Are you a creative problem solver?
What are your strengths and weaknesses?
Can you work on your own?
What size of business are you looking to create?
What type of income do you want – main/secondary?
Do you want to work from home or an office?
Do you want to work full time or part time?
Do you want to employ staff or run it by yourself?
If you could work in any industry which one would you choose?
Do you want to sell products or services or both?
Is the industry you are interested in viable online?
Is there competition and if so what are you offering that’s different?
Start-Up Internet Business Model
Once you have narrowed down your choice of online business and the industry you would like to work in the next step is to develop a sound e-Business Model that will help with target markets, revenue models, sales, internet marketing etc. Some start-up businesses use an e-business consultant that will put together an e-business model on your behalf using tried and tested model formulas. The e-business model is crucial in making your business a success, as all too often we see great internet start-up businesses fail because of a lack of business model planning.
Your Internet Business Website
Having a robust well designed website that can cater for your business needs and one that presents your company’s brand in a fantastic light as well as creating an attractive online platform for your industry users is essential. A good e-business model in itself can’t achieve anything without having the right type of website platform for the business. There are plenty of off-the-shelf websites which are ‘cheap and cheerful’ – however if you’re serious about your internet business and its success then the best bet is to use a professional business website designer who will be able to help you put together the right type of online platform incorporating the right balance of features and functions for your business products/services and one that includes a full site management centre bespoke for your needs.
Internet Marketing Model
Your e-Business Model should cover ‘internet-marketing’ allowing you to generate targeted traffic to your new business website. There are various types of internet marketing models which may or may not suit your business type. Careful attention has to be given to this aspect of your new internet business as most of your revenue-model will depend on realistic traffic estimates and conversions. Whether it’s a viral video campaign, SEO, SEM or any of the other online marketing methods used by most successful online businesses this aspect of your start-up business is crucial!
Start-Up Internet Business Brokers
If the above sounds like too much hard work or internet-gibberish then an online business broker can help by offering you a complete internet business package. An internet business broker’s e-business package will usually always include; website development, target market research, distribution channels, internet marketing strategies and revenue models. As an experienced start-up internet business broker Internet businesses For sale.co.uk will not only provide you with the above but will also provide you with full business support for the first year making sure you have the optimum chance of succeeding online.
Business Start-Up Advice Video:
Tags: Internet Start Ups, Starting An Internet Business
Reader's Comments
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Excellent note about the recession!
We think that there are two types of people in the world, those who participate in recession and those who do not. The latter run an internet business
Lena & Dima
Publishers, InternetBusinessBTS.com
I read this page and watched the video expecting to disagree with what was said but in actual fact the advice given was in tune with what I keep saying on my blogs, websites, articles and forum posts.
Most beginners ask “what shall I sell” but this is the wrong approach. The first step is finding a sufficient number of individuals seeking an answer to a problem. Then finding their answers as well as seeing how other websites are at serving them.
Next finding or creating something of value not to sell but to give away so as to build your list to create future wealth from people who have got to know and trust you because you were able to help them.
Instead of asking “what to sell, ask how can I provide real value” and build a business that will last for years to come.
Good content and video!