Creating and running a successful online business

Creating and running a successful online business

January 13-19, 2019

This week has been interesting for me. It started by asking me to think about 20 web business ideas and when I began to think about it, it was not as easy as it seems. I started thinking about the ideas and when I arrived to the 6th one I was totally blank minded. However, I continued and poured out 20 web business ideas to test them. 

In the process of testing the ideas I found that I must consider the following aspects:

• The business model: The business model is key because it contains what is needed for the business in terms of logistics, partners, costs, activities, value proposition, and other aspects. 
• The keywords to position the business online: In the web business, one of the most important elements are the words that you choose related to your business; they become like an address to your web business.
• Demand for the business*: If there is not demand, what else?
• Competition for the business*: The competition becomes a motivator to have a better product and a better service.
• Cost to run a digital campaign per month: This is crucial! Because you have to have the control over your digital campaign in terms of money.
• Suppliers for your business: Do you manufacture your product or provide your service? Or do you depend on someone else to have it?
• Start-up costs: If there is not money, there is no business.
• Time required to run the business each week: Are you available to oversee your business?
• Potential profits the business will generate: If there are not profits, there is not any sense on spending your time on a business.  

*Demand and competition may be determined using Google AdWords as a reliable source of information.