How to get ideas for your online business ?

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How to get ideas for your online business ?

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From running three online businesses, my realization is this : Don’t try ! It is a sheer waste of time and valuable neural cycles. 

Then how to do an online business ? 

There is nothing called online business. It is business, simple business where there are the below components :

1. Product or service

2. Buyers 

3. Others who are trying to sell the same or related things (competition)

4. Cost to make / deliver the product and services

5. Price at which these can be sold.

6. Amount left after discounting all costs (middleman fee, like banks, paypal) – gross profit 

7. How will this vary with time while time is X-axis and Profit  is Y-axis. Does it look like a straight line , a sine wave, a saw-tooth waveform or an S or a staircase going up or going down ? 

8. Refer to the curve above and plot no of hours per week invested. How does it look like ? Does it look similar to the previous curve ? If yes, you are doing great.

There is nothing online in anywhere. 

There will not be any online anywhere.

From the stand-point of business – online world is a channel, a very powerful channel nevertheless but it cannot change the above immutable laws of business. 

 


Source: wordsmithofbengal.wordpress.com


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