7 Questions You Should Ask Yourself to Check If Your Business Idea Is Viable Part-1

The first is that it is important to approve the possibility of your online store before beginning anything. It is exceptionally regular to flop in this. At that point, it is generally included the absence of learning, both in deals and showcasing and the market itself, the intemperate expenses for the production of the store or the publicizing, in addition to other things. To come to the heart of the matter: they have become softly on something they had little thought, without preparing, or arranging and procedure. You would not drive an auto without first getting your permit, isn’t that so? The same goes for your online store.

You need to begin with great bases and today we will discuss the main thing you need to do before making the primary strides with your online store; Confirm if your thought is legitimate and on the off chance that it has a place in the market to get a beneficial business. In the event that you are perusing this article, I affirm that you are one of only a handful couple of individuals who choose to approve their thought before propelling their store and that is now a decent begin.

#1 – How much cash do you have?

Before beginning any business, we need to know how much cash we need to contribute and cover forthright costs.

These are a portion of the primary costs that you should confront:

Area and facilitating.

  • Web engineer to make your online store.
  • Installment stages.
  • SSL testaments for security.
  • Module and modules essential for the activity of the store.
  • Buy the underlying stock to work or buy the material on the off chance that you make the items.
  • Buy of boxes and different materials essential for shipments.
  • Office (s) of transport (particularly in the event that you accept the cost or part of the cost of the shipment).
  • GestorĂ­a for charging and quarterly assessments
  • Workgroup in the event that you have it (independent or representatives).
  • Stockroom?
  • Informatic bolster.
  • Other specialist co-ops as required: picture taker, consultancy (advertise ponder, strategy for success, and so forth.), email showcasing, SEO, content creation (item postings), and so forth.
  • Promoting costs to produce activity to the store.

These are cases of essential costs normal to numerous tasks. You can contribute pretty much however you must be evident that on the off chance that you don’t have cash spared, you begin with an impede. Would you be able to take them?

#2 – Have you done a market examine?

Presently you can purchase nearly everything on the web and the opposition develops each day. It is essential to pick well what you will offer in light of the fact that there are numerous parts that are as of now immersed. Try not to endeavor to offer everything to everybody, search for a particular specialty, sufficiently extensive and appealing where you could make an opening and position yourself well. I realize that you have a thought and it will most likely appear the best on the planet. However, numerous undertakings sin in this sense since they don’t see past their thought and don’t invest more energy to perceive what happens or what as of now exists outside.

Doing a profound investigation of the market you have picked will enable you to know its size and advancement in the course of the most recent couple of years, to know the present players (contenders) and their practices, however, most importantly to have the capacity to evaluate whether there are openings or not. There are online stores with specialty items that have been made as of late and have had a decent gathering, for example, items for the whiskers, sustenance, and toys for creatures, items for scrapbooking (a sort of artworks), ties, and so forth.

You additionally need to survey if the buy of your items can be tedious. It isn’t the same to offer espresso as a divider switch. The espresso can be expended day by day however the switches are presumably changed amid a change each X years. Keep in mind that it is less expensive and less demanding to pitch to a client who definitely knows you than to go looking for another one. Be cautious likewise with an excessive number of occasional items. There are such a significant number of things that no one lets you know before opening an online store.

#3 – What separates you from your opposition?

What’s more, kindly, don’t reveal to me what the cost is. Actually, it is relatively unimaginable that you can contend on cost on the off chance that you are the last one to arrive. The huge organizations that contend in value as of now have an expansive assembling volume and in the event that you are a merchant, relatively sure that the real costs will be “suggested” by the producers.

Additionally, surmise that there will dependably be somebody who can offer less expensive than you for any reason and your online store would go to damnation. In this way, having focused costs, indeed, yet it’s insufficient. Think about an arrangement of properties that can truly influence you to emerge and that makes a ton of significant worth and advantages for your customer.

It could be an alternate plan, another scope of results of better quality, a select item that isn’t effortlessly discovered, a change in the administration or a complimentary administration, a blessing, an alternate bundling, your own particular story! your closeness to the customers to make more certainty. Once more, consider your ability well and consider something you can improve the situation than them and make your own way.

#4 – Do you know who your optimal customer is?

As I would like to think, knowing your identity going to offer your items is the premise of any business technique. All piece of the customer and their needs.

You will probably give an answer to your issues or your wants. Nothing else. What’s more, the more you make him cheerful, the better.

You will think, I definitely know my identity offering: “she is a lady in the vicinity of 25 and 35 years of age who lives in Spain and looks for… “.

I’m sorry to learn you that it’s insufficient. Becoming acquainted with this lady better will help you a ton in any zone of your business: you can compose better messages and refine your item offer, for instance.

Consider what she would truly pick up by purchasing your items, what might persuade her, what might stop her. Get inside her psyche and feel for her as much as you can.

#5 – Do you know what amount of cash you need to charge every month to get a payment?

It’s an ideal opportunity to do the records. You need to work to get a pay, isn’t that so? What less…

Your net pay for the finish of the month will clearly rely on your pay and your costs. It is fundamental that you know how many edges you will get to your items: 30% isn’t the same as 100%. Also, it isn’t the same to offer an item at € 20 than at € 100. Offering “modest” requires more endeavors and more requests to accomplish gainful your store.

Knowing the amount you have to charge is a standout amongst the most essential errands to approve the possibility of your online store and realize what anticipates you.

You can begin by making gauges what the estimation of your normal request would be.

To this sum, you need to expel the immediate costs (material, bundling, monetary commission if there is and transport, for instance) and you can perceive what you have “clean” in each request.

Because of this count, you can appraise the volume of requests that you need to enter your store to acquire a commendable charging.

Be careful: keep in mind to subtract the costs, for example, the independent expenditure, the organization, publicizing, among others.

Furthermore, in the wake of deducting this: what remains would be for you.

#6 – Do you have the important information to join this enterprise?

Dealing with an online store isn’t simple and it is important to have certain past information or to have other individuals who can help you.

I mean information in deals and showcasing obviously, yet additionally in content creation (not every person can and knows how to compose), SEO, client benefit, photography, web-based publicizing and advancement, and so on. Yet in addition learning about the market itself where you will create.

Is it true that you know about the online world? Do you as of now have involvement in the segment that you have picked? On the off chance that yes, you begin with some favorable position.

I suggest offering items that you “adore” or that you have a genuine enthusiasm to not get exhausted following a half year.

#7 – Have you done a past test before propelling huge?

It is exceptionally prescribed to check your business thought on a little scale before propelling a superstore and stamp yourself against the divider.

Furthermore, how is this done?

  • So how about we see… The first and least complex thing is to discuss your thought with others. Try not to keep it for yourself alone. What’s more, I don’t intend to talk just with loved ones, join organizing gatherings and offer with different business people like you. Try not to fear to have your thought stolen, they will unquestionably give you proposals or new thoughts will come up.
  • Join in Facebook gatherings and discussions where you figure your intended interest group might be and demonstrate to them your items to request their conclusion. Attempt to associate more with them asking what their most serious issue is when searching for and purchasing your item… In the event that you see that they will help you, you could get in touch with them to complete a meeting.
  • Make a beta store or only a presentation page with a couple of items or pre-deals and examine what happens. You can request that your guests buy into your site and propose a 15% markdown when items go at a bargain… To gather more messages, play out a Facebook Ads battle. Exploit this rundown that you have made to send them an overview later.
  • Distribute your items in commercial centers. The venture is less to begin…
    Look for online journals that your intended interest group peruses and check whether you can make a move with your perusers to get input on your business thought.
    Run a crowdfunding effort: if no one adds to your battle, you definitely comprehend what you need to do (attempt to enhance your underlying thought or rotate).

5 Simple Steps To Come Up With a Terrific Business Idea

Different business Ideas and opportunities are talked about on the net daily.

The majority of aspiring entrepreneurs search for viable business ideas online. But how can you actually come up with a feasible, practical and sustainable business idea?

I have had my own business for a number of years now and I have tried many different businesses, some of them worked and some did not. I recently looked back on all the businesses that I tried. As I reviewed all of my different business plans I have narrowed my good ideas down to a few easy steps on how to create a viable business idea.

Different business Ideas and opportunities are talked about on the net daily

I want to share a few tips with you that may help, especially to those who want to start or even create a business of their own.

Here are the steps:

1.) Think of several ideas. There may be a lot of concepts out there but not all of them will work. When come up with a business concept, try to take note of businesses that consumers will need to use daily. Do not think of temporary ideas, those that may disappear with time. Food is always a great idea; people will always need something to eat every day. Clothing is another example, consumers will always visit clothing stores to find something they can wear. Providing people’s basic needs will be one of perfect choices you can make.

2.) Avoid temporary ideas. Sometimes, an entrepreneur can overthink things because they want to get the most distinct and unique idea, they may venture into a business that people do not really need. These are things that people can actually live without every day. Usually, these types of businesses do not last long. People get bored and forget about them. A laundry business is one of these. People can always do their own laundry so this is not necessary. Customers might try these kinds of business for six months or so but after that, they never come back especially when they realize that they may be just a waste of their money.

3.) Be knowledgeable. Assuming that you already have finalized your choice, always be knowledgeable about the business you are going to start. In the beginning, you may not fully know everything about it but be sure that before you start operating, you understand fully what your business is all about. Understanding and knowing your business will Help you on your way to success.

4.) Get to know the nitty-gritty details. A business will always have the main details and sometimes you only get focused on the major ones. Never fail to forget the smaller details because no matter how small that detail may be, it may still impact on your business.

5.) Promote but do not deceive. Deception is a poor way of advertising. There will always be ways to attract consumers to buy your products or services in the most honest way you can. When you try to mislead them, sooner or later they will find out and when they do, they will never come back to you. Consumers do not want to be deceived and lied to, they want honesty. Remember that they are using cash from their income to buy your product so they deserve to be told the truth.

These are some of the steps you need to consider on how to come up with terrific business ideas. I realized I have never misled any of my customers in anything that is why my businesses all worked.

How to Create a Profitable Online Business Idea?

Creating a profitable online business Idea! This is the very first thing any internet entrepreneur should focus on to successfully make money online.

This is the make it or break it factor to be successful online or offline. You may spend a lot of time, effort and money chasing the wrong idea. This step is the most important step. Frankly there is no right or wrong way to brainstorm ideas, there are only best practices, common sense and of course some luck. Below I will present the best practises on how to develop profitable business ideas based on my own experience and the world best entrepreneurs. Now fast forward to the good stuff.

Create a profitable online business idea by inventing something new

This is rarest and the hardest of them all. Like Thomas Edison who developed many devices that greatly influenced our lives. From the motion picture camera to the long lasting electric light bulb.

If you can picture a certain product or service that would make people lives’ easier, then you are on business.

• Tim Ferris Did this. The Author of the world phenomenon “The Four Hour Work Week” Where he preached to live an awesome lifestyle while putting your business on autopilot! He is a master hacker and he managed to outsource his life and his business very cheaply. He has built a huge passionate follow who are ready to help him sell or promote his products and he gives them his mind, body and soul. He gives presents, free info and help as much as he can. His blog went to rank around 6000 most visited website -among millions- in SIX MONTHS!! If you have something special, unique and awesome please do it.

Create a profitable online business idea by fulfilling a personal need

If you needs a product or a service, be certain that there are other people who are searching for a solution for that exact same problem.

Personally when I was a project manager at one of the biggest engineering firms. I had to self-study every single day and night to be able to compete and sustain my edge at that level and to deliver projects on time, under budget and at the highest quality standards. Self-learning was not easy and taking courses and workshops were both time and money consuming.

• My first online business was an E-learning hub for professionals. filled with articles, audio and video training and discussion boards. I added more value by giving them assignments and research work to further solidify the learning experience and make it as practical and as close to real life as possible. I developed it further and created a membership area for different niches like: Project Management Professionals and Marketing professionals… etc. Professionals would post their most urgent questions and problems and collaborate with other on how to solve them. They would share their experience in their current projects pointing positives and well as negatives. And exploring alternative ways and solutions to try at their next project.

As you can see I took a simple E-learning portal and turned it into a thriving community filled with passionate professionals who are sharing their ideas, experiences and recommendation. They sat goals and worked hard to achieve them. And we congratulated each other for the completion of our goals.

We were such a beautiful little community.

Do you have a current need? Write it down. It maybe your next big thing.

Create a profitable online business idea by making people lives EASIER

We are in love with the easy way. We go to Google to find a quick answer and we ask a friend for a recommendation.

We want the easiest and the shortest route to our goals.

If you can develop an idea to make people lives easier! They will love you for that.

• Google made our lives easier and now we can find exactly what we need in a blink of an eye. And they are going that extra mile every single day from local search, blog search, Scholar search, image search, movie search, news search and every other kind of search you can think of.

• Mint Made our lives easier in terms of managing our personal finances. They develop free and premium software to help people control and manage their budgets more efficiently. They were one of the fastest growing companies in the world and they were featured in The New York Times, The Wall Street Journal and Money magazine as the best tool to manage your personal finances.

• Aweber when CEO and Founder Tom Kulzer was a sales leader for a computer hardware firm in mid 90′s he noticed that leads were falling due to lack of proper follow up from the sales agents. He went on his way and started Aweber the best email marketing solution I have ever used and the number one in the scene right now.

Create a profitable online business idea by upgrading a current idea and make it better

Not everyone has the vision to spot a growing trend or a specific need. So it’s easier to develop and upgrade a current business idea and make it better than the original one.

• Google did this. When they witnessed that search engines were merely displaying search with no clear standards. They developed a search engine that displays results based on user preferences and history by exploiting cookies. Try to search for any term and make your a friend search for the exact same term with different computer and you would find different results as Google scans your history and browsing behaviour by a very complex Algorithm and displays the most relevant results for you. They grew and became the number one search engine and the number one website on the internet today.

• Tumblr did this. When 21 years old David Karp saw the growing interest in Twitter and Blogs. He combined the best of both worlds. Many people loved to share on Twitter but the 140 characters and the limitations were an issue for some. Others wanted a platform to express themselves freely but Blogs were too technical or too serious for them. The young genius made it and established Tumblr where you can share easily like Twitter but with the powerful features that Blogs only have. Tumblr now is the 35 most visited website on the internet today. And the future looks awesome.

Create a profitable online business idea by offering unbelievable service

Sometimes we can’t figure out a new business idea or an upgrade to a current business model. Well the best thing to do is to choose a business model you like. Study it and differentiate yourself not by lowering prices -I am totally against this strategy btw- But by offering unbelievably good service.

• Zappos Did it. They started by offering great shoes for sales on their website like the hundreds of thousands of other websites. But they took the customer service to limits never seen before. They would occasionally send you flowers or a present or a voucher at your birthday. They may send your products by speed delivery at no additional costs to you and you would be happily surprised. Their customer service would speak with you on the phone as long as you need explaining every detail over and over. Actually there is a documented phone call that lasted for 8 hours! This is how far they took it. The Result? Now they are making over a billion dollar in sales each year! They are the biggest shoes retailer! And their huge customer base do all the promotion and advertising work for them because they were happy and impressed.

Create a profitable online business idea by entering a very specific niche

A niche is a group of people sharing a specific interest, hobby or career. You can take a large business idea and break it down to it’s niche components, study each one and build a business around one niche.

• LinkedIn Is the largest professional social network in the world. They took the Facebook concept and simplified things. They didn’t need millions of teens, housewives and TV stars. They chose professionals and entrepreneurs and they built a website specifically designed to serve them.

• Pat Flynn who is one of my favourite bloggers of all time did this when he first started with his LEED exam training website -It’s a certificate in the Architecture world- He targeted Architectures who want to take the exam and built the best study guides to help them understand the materials and pass the exam. He passed the exam himself first so he knew what does it take to pass it. Result was over 200.000 USD in gross sales in his first year and he is doing much better since then with his awesome SPI blog.

You can do this. Analysis the big businesses and break them down. Find what would be an interest for you and build a website around it. As an example I may consider analysing LinkedIn itself and see the small components inside. Well you may start a “young professional social network” or an “Executive level social network” or “project managers social network” Decide first. Brainstorm how can you provide an awesome fulfilling experience for your audience and then build a website to do this and more.

Create a profitable online business idea based on your passions and fears

Same concept here. If you are passionate about something. There is a good chance that others are in love with it too. If you are totally scared about something you may research and learn to figure a solution and build a website offering that solution. Or simply a website that offers some sort of support group for whoever suffering from that fear. Trust me it works.

Write down your passions, what you love to read about, listen to, or watch. Your dreams maybe? Or maybe your fears! Write them down. Then rewrite them again. Pin them and look at them everyday. Add or delete. I assure you would find something interesting.

Example: I love racing games! I may go and build a need for speed fans website offering latest news and game hacks. I may then offer a simple eBook selling my very best tricks to beat the boss in the game! Figure yours it maybe as simple as that.

I hate bugs! I completely hate it specially ants. I may build a website and post my latest solutions to get rid of them! Organic solutions maybe! Then present them in an ebook.

I love working out! I am a 14 years athlete and I practised everything. I DID start a website based on how to lose weight for the business professionals. I offered straight forward advice for people who can’t afford sever dieting or hours of training. And it worked out NICELY!

Create a profitable online business idea by being weird!

Yes this is not a typo. Although this is not my thing but some people are flooding their bank account with this

• Tucker Max Ps: Please note that his stories are NOT for everyone. They are uncomfortable for many. Please don’t read on his blog if you are easily offended. He is a playa and he wanted to document his adventures in a book. Well every publishing house refused to publish it. He didn’t give up and he built a website and published his stories for free so everyone can sees them. Within few months and with smart marketing his traffic went over the roof This captured the publishers attention and they contacted him offering generous contracts to publish what it seems to be unrealistically popular stories. He did it.

• Million Dollar Homepage If you have ever asked me if setting a website and inviting people to give you money just for putting their logo in a homepage! I would say this will never work! Where is the added value? Well I am wrong this home page collected payments to put brands on the home page “to own a piece of the internet”

Other ways to create a profitable online business idea

If your creativity let you down. Here are some other ways to earn an income by starting an online business.

• Website flipping: Similar to real estate. You build a website. Add content. Attract visitors and offer it for sale on website like Flippa.

• Web hosting reseller: With a fixed monthly fee you can start selling web hosting service. This can be a profitable business model If you can attract lot of traffic. Will cover this in future articles

• Review website: Review anything that you are interested in. And offer some Affiliate links. You earn commissions on sales made by your links. Will cover how to be a super affiliate in a future article.

• Content writing: If you are a good writer, set up a website and offer your services. You may join Elance or Odesk People are in a constant need for good writers

This is the only article you would need to find about your big idea! There is not right or wrong way. As you saw some unrealistic businesses made money. You will never know unless you try. Please stop reading about how to generate profitable ideas for your internet business and start doing what I have told you above.

Just grape a pen and a paper -No laptop please- and go through each method described above from inventing something to upgrading a current business idea to embrace your passions and fears or targeting a very specific niche.

Go through each one, brainstorm each one. Write it down. Pin it. Visualise it and you would find your answer. Sooner or later and this is my promise to you.

Some people would argue that they need to test the idea profitability before they start. Well some people agree and some disagree. I disagree personally. Simply because if you as a person needed something or facing a problem or a certain fear. Be certain that others feel that same way too.

If you are inventing something never done before this testing would do you little good. Ordinary people can’t visualize your idea, so their replies would never give you an accurate answer. Example is when they invented the phone. People never imagined this would be possible and thought their lives are perfect. They invested the mobile phones and now people can’t imagine how they lived without them and now they lives are perfect, now they can talk in the street! They invented the smart phones and now you are connected to your social network, your business and to everything.

Idea here is that people can’t imagine things. You educate them to accept the new technology. As long as it makes their lives easier they would be more than happy to listen.

I heard that the late Steve Jobs, the legendary founder of Apple, didn’t believe in market research. With his revolutionary ideas that redefined what technology is capable of. People were unable to keep up and give a clear thoughts about it.

YOU are the creator, Create and educate.

Hope that you enjoyed this article

Mohamed Anan