Starting a new internet business

Preface

This article is written to help new internet business initiators at their first steps. Inside the article you may find tips and ideas that may help you succeed in the net.

Consult with experts

When an initiator invents a new website his mind is too busy with convincing himself that the idea is great and he cannot foresee the weakness of the idea. We recommend finding an expert and consult with him. His duty is to tell you why your idea will not work (hypothetically). Demand from yourself to confront the problems and find solutions to them.

Critical mass problem

Many new internet business propose the user a great value but only when the website contain a big mass of users. The initiator must find a way to give users an added value also at the first stages of the website otherwise users will not register and those that do will leave and not come back.
The critical mass problem is the most common mistake of new internet businesses and the main cause for their fall.

Hatching time

Give your idea a hatching time of few weeks (or months). During the hatching time, continue to study your idea from different point of views. The hatching time is meant to help the initiator get the correct proportion of its idea.
Here are few things you should study deeply at hatching time:

1. Website goals
2. Profit models
3. Your audience
4. How your website works
5. Competition
6. Advantages
7. Disadvantages and future challenges – give each challenge a solution.
8. Marketing plan
9. Possible partnerships – the web is a place of partnerships
10. Budgets requirements assumptions
11. Time requirements assumptions

Search engines

Invest in search engine promotion. This is the best thing you can do to your website for a long run. Find unique ways to draw links to your website!

Using a pilot

A pilot website can serve as a great way of learning the market and test your plans. The pilot website should help you reach conclusions about the solutions you offer to deal with the challenges you will confront.
The use of a pilot is highly recommended as it can prevent a great loss of time and money. The problem with pilot is that it exposes you to competition. There are some cases where a pilot is irrelevant such as content websites and indexes but then these are not unique.
How much to invest?
This is of course, the million dollars question.
If you are using pilot, try to lower you investment for the Pilot. In case you see the pilot give positive results, you will be able contact funds to invest in you.
Investment should take in consideration the following categories:

1. Your work
2. Website development
3. Content development
4. Website design
5. Website marketing

The last is usually the biggest. Note that you should check returns from every Dollar spent for advertising.

The importance of content development

The internet is a medium of content. The success of your website is dependant on the content you have on your website. Starting from the sale words, to articles and to user’s inserted content. Examine how content is join into your website and how do you use it to draw visitors from search engines and other websites.

Patience

99% of internet businesses grow slowly with time. You need to understand that it may take time to reach success. You might find that your profit model does not work but it does not mean you should leave it. Try to think of other profit models and try them.

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