Home-Based Internet Businesses Still Require “Old-Fashioned” Business Fundamentals. Our chapter’s resident expert on home-based Internet businesses, Sasha Mason, shares her thoughts and suggestions with you concerning this subject.
The fundamentals of home-based internet business are no different from any other business. It requires due diligence, planning, and endless hours. You are wasting your time and money if you are hoping to create a website and then sit back while the customers click away.
As with any other business model, the starting point for you home-based Internet business must be a good business idea followed by due diligence to ensure its viability. Are there other websites doing what you want to do? If so, is there room for another one? How big is your market? Assuming you pass these hurdles, you should register a domain name. This is inexpensive, easy to do, and will ensure that no one else takes your chosen domain name.
Next, draft a business plan. Even a relatively simple business that requires no financing will benefit from a well thought-out plan. Try to use reasonable projections -- one common mistake with internet businesses is underestimating your costs as well as the volume of sales needed to turn a profit. Also think carefully about your marketing plan – do not expect to rely solely on internet search engines. How will you advertise and drive traffic to your site?
Finally, hire a web designer, but remember you get what you pay for. There are many “web designers” for whom this is a side job. It is worth paying more to hire a professional with whom you can have an ongoing relationship. You will also need to look for a webhosting plan. There are plenty of inexpensive hosting sites. It is important, however, to ensure that your host can increase your bandwith as your site grows.
Good luck and remember that you can contact SCORE for help along the way.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
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