A conversation I had just now has got me thinking about these “brilliant” ideas people have, turn into an online business, spend the money to get a decent e-commerce website then wonder why they are not raking in the $$? The end result sadly are a lot of businesses fail and the owners are left in debt and wondering where they went wrong.
Quite simply, do your homework BEFORE you venture into anything. What you might think is a killer, original idea may well in fact be the worst idea of your life. What are you going to sell? What is your competition? Who do you buy your wholesale stock from? What are your overheads? What are profit margins likely to be? And the most important question…. Will people buy from you? There is no point selling a designer brand named item at an inflated price if the consumer is more likely to go and buy a more cost efficient generic item.
It isn’t rocket science. As web designers, we have seen far too many businesses come and go or great people wanting to get somewhere in life but flounder. Keep it simple, keep it efficient, keep it within your budget. Importantly…… get sound business advice. But please, please, please do not think smugly, cockily or selfishly. Truth be known, your idea has most probably already been thought up by others. It could already have been implemented by others.
THINK YOUR BUSINESS IDEAS THROUGH!!!!!