Hi, I have about 000 to start up a web based business. My interests/passions are travelling/backpacking and writing. But this doesn’t mean I’m limiting myself to a travel based business; I’m open to any ideas. I also have a fairly good knowledge with Internet technologies such as html, Wordpress, web hosting, domain names, etc, but I am not a programmer.
I would like to have a go at starting up a web based business. I appreciate this is a very competitive market. Nevertheless, I would still like to give it a try. My ultimate goal is to run this business while I am travelling, and although I don’t expect to become an overnight millionaire, I would like to earn enough money to pay for my travel expenses. I’d be very content with earning 00 a month.
I’ve heard that it is very difficult to earn decent money through advertising. Is this true? Are there other ways for small businesses to earn money from a small web based business.
I appreciate any help/suggestions.
thank you
You’re approaching the issue backwards; "web-based" is the "how" of the business, not the "what".
Start by focusing on where your interests and passions coincide with your marketable skills. Do you have a background in retail where you might be able to competitively sell backpacking equipment? Do you have a portfolio as a freelance writer or journalist that could be leveraged to provide an advertiser-sponsored blog, or to write a travel guide? You get the idea.
Next, assess if there is a market for your potential business. Who’s your likely consumer? Where are they? How many of them are there? How much does your average customer spend on your type of product or service annually? What do we know about them demographically (age, gender, income, media habits, etc.)? Who’s your competition? What sources of competitive advantage do you have to let you break into the marketplace?
Run the numbers: can you sell this product and/or service profitably? Is $15,000 sufficient for start-up capital, bearing in mind that you’ll probably run for several months at a very low income level while you build a customer base?
Finally, think about distribution channels. Is this a business that can provide its products/services online? Are these products/services ones that customers will purchase online? Will shipping costs be prohibitive? Is it a purchase they can make just as easily locally from a store? Will they be willing to wait for shipping? Will they be willing to buy the product sight-unseen (like a pair of Oakleys) or will they want to handle it (like a custom guitar)?
There are many opportunities to write for pay online. You should be able to make a decent amount of money writing about backpacking and travel. If you are any good at photography you may be able to make money with travel photos too.
Another possibility would be some sort of review site. For example, you could review travel books and link to them as an Amazon.com affiliate. Or look for a backpack affiliate program to market.
Another approach combining your HTML or WordPress skills would be to develop and sell websites.
Good Luck!
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