5. You can inexpensively test your market.
Not every brilliant idea translates into a consumable product or service. And as you know, the failure rate of new businesses is very high. Another advantage of starting a business online is the ability to gauge interest without actually having the product readily available for sale. One example of this that I’ve seen a lot is a preview or ‘beta’ page with a prototype of a product where people can sign up to ‘be the first to know’ when the product is made available. This can be done with a food product, a clothing line, an app, pretty much anything. It’s a great way to gauge interest before you go all in with a final product.
You don’t need $10,000 to start a business anymore..
There are hundreds of ways to make money online and frankly, who can afford NOT to open up shop to the billions of people on the internet. There are still a lot of traditional brick and mortar businesses that are not providing their products and services online, constraining themselves by business hours and management of on premise staff.
All you need is a website, a product or service and consistent potential-buyer traffic to that website. Logo Design Service No permits, no city council meetings, no weather constraints and depending on where you live, no off duty police officer.
Recommended reads: ‘The Four Hour Work Week’ & ‘The $100 Startup’
About the Author:
Don Suave is a music producer of over 20 years with a passion for marketing.
He founded Alavon Enterprises to help artists of all types zero in on a target, leverage the internet and automate their marketing efforts so that they can focus more time to their craft.