Thread: How do you build your online business?

Originally Posted by Loko

Many if not not most local businesses where I live have a poor web presence.

A local business will need hundreds of low competition and geo keywords to get enough traffic and web presence to make the web development profitable. The upside is that most local businesses have little or no web presence which makes the job easier.

The bigger issue is the European market that is defined with more mass transit, socialized medicine and less consumption than the US market.

Europeans howver tend to save more money and have more vacation time than Americans. Thus, they have the time and money for higher budgets for entertainment, travel and high end sporting goods to name a few of the niches that may do better within the European Union.

Originally Posted by xxtoni

I think that building a online business is like any other venture,you need:
determination,ambition,motivation,intuition and you also need to take risks and good old hard work

You need to do your homework before starting and have an exit strategy should the business not provide a good return.

Some of the considerations:

marketing research
planning
business strategy
exit strategy

Originally Posted by bogart

The problem that I see with a Taxi site is that the service is a "small ticket" item of usually around $10 for a cab ride. Taxis also plaster stickers and cards everywhere. So it's hard for them to see where the sales are coming from.

Yes, tracking can be quite a challenge. In the beginning when my phone number was visible on the site (I removed it after a while), people were calling me to request rides. That made me think that a dedicated phone number -only published on the site- could help tracking.

Originally Posted by bogart

You need to do your homework before starting and have an exit strategy should the business not provide a good return.

Some of the considerations:

marketing research
planning
business strategy
exit strategy

Agreed,too many times people dont do research and enter a venture not even knowing what they do,having no start capital etc...but also,sometimes you should just do it.My problem is that i do research every day and never start working on any of my projects and that isnt too great either

Can you really explain to a fish what it's like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business has exactly the same kind of value

Originally Posted by xxtoni

Agreed,too many times people dont do research and enter a venture not even knowing what they do,having no start capital etc...but also,sometimes you should just do it.My problem is that i do research every day and never start working on any of my projects and that isnt too great either

The level of planning should correspond to the level of capital and labor that you plan to invest in the business. 90% of small businesses fail. So rushing in without doing the planning usually leads to failure.

Originally Posted by bogart

The level of planning should correspond to the level of capital and labor that you plan to invest in the business. 90% of small businesses fail. So rushing in without doing the planning usually leads to failure.

You are right,but over-planning isnt too good either,because you make plans all the time but dont put any efford into the venture and this way you can fail without even starting your venture

I have read the post and the information which you have shared regarding the online business that is amazing.