In a worst case scenario, they will point out important flaws in your plans that force you to delay or perhaps cancel your ideas—for the better! No start-up is perfect, and perhaps your consultations will yield some truly golden advice. Perhaps more important that the options of a qualified professional is what your target audience actually says. Customer reaction via crowdsourcing websites is very much in vogue these days and may allow you to gauge actual interest for your initial products or services.
Traditional customer surveys also remain a staple of evidence-based market research. As mentioned above the biggest key to success with an online business, or any business for that matter, is to make sure you choose a profitable market. Look around at what other successful companies, website, and online influencers are doing. If you see a lot of people in a market that is a good sign of a healthy market with a lot of profit opportunity for everybody involved. It is funny how many internet businesses still cringe at the thought of websites or place little to no investment in it.
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Still, in spite of the social media explosion taking place today, a solid e-commerce site remains the anchor of your budding online business. It can't be overstated that people will judge you, your business, it's credibility, and most importantly it's ability to solve their problems based on the look and feel of your website.
Though we all know that we shouldn't You don't have to break the bank on a great looking website but you should seek the advice of a professional web designer or at least invest in a good WordPress template to give your website a professional look and feel. Chances are that you are not about to take on Google, Ford, or Wal-Mart head on. However, you still need to be aware of your major competitors regardless of their actual market share. This includes both direct and indirect competitors, because this is where your ideal customers likely hang out. Search engines offer tools that let you customize alerts and trend watches that keep you in the loop.
With time, you should be able to build up a strong list of websites that will key you in on your industry's inside information.
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If you haven't done so, you should make a list of all the competitors in your market and study everything they are doing. What products do they offer? Where are they running ads? What does their marketing copy say? Though you don't want to copy what the competition is doing you can learn a lot by watching them and modeling the successful things they are doing.
Set some revenue and cash flow goals e. Choose one or two social media platforms to get the word out. Facebook , LinkedIn , and Pinterest are among the most popular, but you may also consider smaller, more targeted websites that cater to your particular area, such as trade magazine and industry association websites. If you do not have a lot of money to spend then look for guest blogging and podcasting opportunities to demonstrate your expertise to the world.
In most situations, the web host will allow you to include links back to your e-commerce site. Do you know that we lost 15,00, rupees in my first startup? I decided to work even harder to get the success. There could be many business models in the entertainment industry. Depending upon your aspirations and risk taking capacity, you can make a nice money from advertisements pay per click and pay per view , selling services and affiliate products. In the long run, your business model would be a partnership with big brands, celebrities, production houses and TV channels. A single guy can make about 50, to , rupees with a dedicated effort of one year.
A team of people can make more than , rupees in less than one year if they execute the projects with perfection. Your revenue can be multi crore per year if you become an influencer of entertainment industry like TVF. I have not picked sports as the category, because Indians are not sports lovers, we are the cricket lovers. Cricket remains in the air throughout the year.
When you are starting something for a business purpose, you must start in a business where you can get customers throughout the year. No, I am not an anti-national ;-.
Cricket works very well just like the entertainment industry. You pick your favorite player and make a fan club about him. Read the details of businesses to get more inspiration. India is a country, but we have so many cultures within this one country. I have travelled many states last month when we were on our road trip from Chandigarh to Karnataka.
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Each state looks like a separate country. IPL is based on the same concept, where each region has one team. Yes, there is a business model if you can execute. The name explains it all. Pick the latest cricket news, curate interesting facts around the news and become the next cricket news channel. You will get thousands of readers from Facebook without spending any money on marketing.
Slightly different from the ordinary news, go for some interesting facts about the players, their life and the game as well.
1. Clarity in your social media goals
Your content can go really viral if you will execute it well. If you are really passionate about cricket, then the ideas would come naturally to you. In the cricket season, you could make a lot of money through the Ads. In the long run, you can sell cricket equipment on your website.
Partnerships with sports brand can make you a real businessman in the industry. All you need is a regular flow of cricket fans on your website.
Revenue from Ads would remain similar as in the entertainment industry. A single person can execute the whole project with a dedicated effort of one year. You can make your living comfortable by earning a handsome amount. If you are able to turn out the business as a huge success, you can make several crores out of it per year. Elections happen every year in some states of India. Politics domain has been always remain hot. A great opportunity if you love debating on Indian politics.
Indian audience spends a lot of time on Facebook and Twitter for political discussions. You can join the madness and create a yet another Facebook page to defame one political party and give benefit to your favorite party. Or, you can become the legitimate source of a well-researched news and information. You can write your own opinion about the political facts. Go and read a lot of stuff about the history and political movements happened in the past. Important Note: Be prepared to face the heat from political parties if you share any fake news or try to manipulate facts.
Run your business with your own responsibility. I am just sharing an idea.
Take your own risk while executing. Political parties make many promises during the elections and later no one tracks the progress. You can build a platform to influence the government to fulfil its promises. You can keep the track of promises, get latest information on the progress and keep the readers updates. There are different types of media and everyone puts the news in a different way. You can curate the news from different channels. The reader might be happy while looking at the opinion of all the channels and political parties at a single place.
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Too much information is available on the Internet. Fake news becomes a big problem for everyone. Can you come up with a system to validate if the news is genuine or fake?