Online Business

Online Business.

 If you are reading this post, I assume that you are looking for more understanding of how online business works, or you yourself wants to start an online business.
First let us understand what does business means, its a state of being busy, its also defined by the term leveraging resources either man, material, machinery, matter.etc..
Online means anything which exists on internet, either completely or any part of it.

So Online business means, you are leveraging resources available with you , on internet, in order to generate some revenue.

So now let us look into the types of online business:

1] Networking websites.
 This kind of websites exists completely on the internet, and utilizes network effect to grow its operations.this can be scaled on to next level, if found good number of initial users.
I think every websites should utilize network effects, to grow its subscribers.
For example for a blog, if there is a open contest, for some one to subscribe to the blog, and write a jingle or tag line for a theme, and winner is given a small gift, then this network effect can be scaled down to huge level.


2] Product or service selling.
 Here product can be sold all over the globe, but some services have some limitations, then can only be sold to small area around the firm/company, there is new trend that door to door services have been started , which are operating throughout the country, and people are finding it useful.

Example: Kabadiwala.com : In this startup , the users provide details of the scrap with them, and upon registering for door visit, the person comes to the users place, and picks up the scrap items, and provide money in return.


3] Info products selling:
 In this segment, and info related product is sold online, this can scaled to multiple times, and have great margins as well.


4] Information websites.
  In this segment, the website creator, tries to add value to the readers, with great content, then after getting good connect, will either monetize the site with ads, or sell affiliate products on it.


So now we have understood what is online business, and even types of online business,now let us get deeper into , how a fresher with no prior experience in the online business domain could also start an online business.

Steps to start an online business:

1] Do swot analysis of yourself.

understand your strength, weakness, opportunities, and threats.
For example , my strengths are I have integrity , patience, perseverance, can go through ups and downs of life.
My Weakness are I am not consistent, try to do many things at a time, lacks focus.
My opportunities are as I can go through ups and down, and understood that everything has an learning curve, I can be good in starting a information based websites, as the financial risk is also much lower, as my habit of not being consistent could be managed over a period of time.
My threats are If I dont become consistent at my work, I may soon be replaced, and competition will take over me.

SO after doing your swot analysis, you will be able to decide what kind of business suits you.


2] Find out your interests and passions.

Simple method to find out your passion, is just by analyzing what thoughts you thing most of the time, what you mostly worry for, this indicates what is important to you, and what is your true passion is.

For me it was, I wanted to get rich and want to have a healthy body, that's why i am writing a blog with the title Get Rich.

3] Join your kind of online business with your interests and passion topic.

 My kind of work was low risk work, so I decided to start a blog, with topic being Get Rich.

4]  Hustle!!!!

Yes you heard it right , you have to put in lots of work, as the entry barrier in starting an online business is less, so your quality and quantity work will differentiate you from the masses.
But for that to happen you need to put in a lots of work, day in and day out.

5] Believe in yourself.

 Yes you need to believe completely in yourself, no matter what you do, because an action performed with belief , will outlast the average performance.
and no matter what may happen just go on with the work, you will see it some day, sooner or later.

Looking forward to hear from you.
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