Creating a Web Business, but HOW?

Melanie Paiz
May 1, 2020
3 min read

Creating a business is hard enough, there are many questions you will be asking yourself. What product should I sell? Will I actually make a profit? What is a business model? Do I know what model I should use?

Our modern times require us to innovate, and place our business where people most shop--the digital world. Most consumers surf the web on their phones. Creating a website for your business is an essential move. Ideally you wish you could hire a website/ content creator to take care of that for you. But what good will that do you, if in the end you learned nothing?

You should begin by choosing a business model or choosing a product. But if you don't know what direction to take then start with research. You can start by taking a journal with you, and examine your everyday activities and those of your friends. What problems do you encounter on a daily basis, and what problems could a simple product or service fix? Ask your friends what problems they have encountered. A small problem can be the spark you need to create an amazing business.

A powerful research tool is the keyword planner found on Google Ads. If you've wondered, how can I figure out the demand and competition of a product? This is the tool you need. Use it to simplify the way you study the market. The keyword planner can be accessed, once you create a google ads account; you can create an account by signing up but not purchasing any marketing plans. You can then access the keyword planner found under the tools & settings drop down menu at the top right.

Learn more by following this link: https://ads.google.com/home/

Business Models

Once you've gone through the first phase of research, you now find yourself asking what is a business model? And how do I know which one to use. Look no further, here is a list of some basic business models: Infomediary- a third party site that collects data from consumers and manufacturers. This information is then used to provide businesses or consumers with important data analysis. This information is also used to target marketing campaigns.

Merchant- a wholesaler or retailer of goods or services. (Amazon, Barnes and Noble)

Manufacturer- a company that creates a product or service.

Affiliate- a site that brings high volumes of traffic to a specific site, and provides ads linked to a product for purchasing, wherever people are surfing through the web.

Community- ran through user donations, or monetary funds produced through user impressions and loyalty.

Subscription- a model where users are charged daily, monthly, or an annual fee to use a service.

Utility- a model traditionally used for pay as you go phones, and utility bills. Any service that is paid periodically or as you go. Usually doesn't include a contract.

Further information is available at: http://digitalenterprise.org/models/models.html#Brokerage

Choosing a Product

Now you know more about business models. You can now move on to choosing a product. There are many methods for choosing a product. Some basic ones include the Mix & Match method: where you combine two existing products, services or concepts. Such as a phone and a photocopier, this will give you a fax machine. Or Travel (Importation) method: you race/ travel around the world, and take notes on what products you see. Which ones could you import back to your home Country? [keeping in mind International import/ export laws] What would have high demand and value in your own Country?

There are many more methods, all of which can be seen at: http://bizthoughts.mikelee.org/brainstorming-business-ideas.html