How did you know what kind of business to start?

23 replies
Hey there folks,

As you may have seen through my latest posts and comments, I'm looking to begin anew when it comes to online marketing and business managing. Through a previous thread of mine I got an excellent response from a member here on WF (thanks Steve for the great mini-guide!), and now I'm just looking for some stories and opinions from you all!

So, how did you know what kind of business you wanted to start online? Did the idea come like lightning from the sky or was it a slow process of speculating and researching?

Would love to know what your situation was like!

Thanks you,

Karl
#business #business ideas #how to start a business #kind #online business #start #website help
  • Profile picture of the author Tom Addams
    With your abilities and knowledge in mind, follow the money.

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  • Profile picture of the author The Cypher
    Well for me, when I started I had no real direction. I knew that deep down 'selling' was really what made money online - didn't matter if it was on the phone, through a VSL or through a letter, selling was the key. I studied a lot of psychological pieces as well as copywriting and funnel creation aspects.

    This, to me, was extremely interesting and did not feel like work to me. So I started Freelancing helping business owners improve their bottom line through the online medias. After a few successful stints as a freelancer, I was able to market myself as a consultant, specifically to the nightlife industry. When I was able to increase bar/club revenue upwards of 400% ROI off ad spend, I knew I had a lot of potential.

    Then, I was stupid. Haha... I thought about stopping the actual 'business building' piece of the puzzle to learn more about copywriting and try to become a copywriter. Makes sense, doesn't it? Stop what's working and switch to something else.

    It wasn't before I met my current employer (now partner) who was a full-time content writer and copywriter for his business, who requested that I help with split testing and improving his sales funnels. After countless conversations with my partner as well as after adding tens of thousands of dollars to his business, I stopped my copywriting pursuit and headed towards becoming a 'funnel expert' so to speak.



    I think for me, I did not feel the value of what I brought to the table, because early on working from home the 'build your own business' mindset was engrained too much. The key with working from home, isn't about 'your business' it is about your skillset that can be attributed and monetized down the road.

    I guess to sum this up, I fell into it.
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  • Profile picture of the author Miguelito203
    Originally Posted by karlstech View Post

    Hey there folks,

    As you may have seen through my latest posts and comments, I'm looking to begin anew when it comes to online marketing and business managing. Through a previous thread of mine I got an excellent response from a member here on WF (thanks Steve for the great mini-guide!), and now I'm just looking for some stories and opinions from you all!

    So, how did you know what kind of business you wanted to start online? Did the idea come like lightning from the sky or was it a slow process of speculating and researching?

    Would love to know what your situation was like!

    Thanks you,

    Karl
    Hey, Karl. For me, I had to explore my options. After that, it was basically like, "Which one of these best suits me?" When I first started online, I wrote for some sites and got paid for my content. I didn't like that too much. The reason was because I didn't feel I was getting paid enough per article and for my time. By the time I got paid, the money was already spent. I thought about writing for other marketers but came to the conclusion that I'm too lazy for that.

    I'm not good with deadlines. After that, I got into niche blogging. I like the fact that I can work around my own schedule and that the income is residual, so this is what I've been focusing on for the longest time. I've noticed that people who like to write really like either ghostwriting, publishing stuff on Kindle, or having PLR stores.

    Joey
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    • Profile picture of the author Cleeby
      Keyword Research is obviously a fantastic place to get ideas!

      A passion really helps, too. Loving what you do is important over the long-term.
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  • Profile picture of the author Brent Stangel
    So, how did you know what kind of business you wanted to start online?
    My first goal online was to advertise my existing "snail mail" business. So I guess it wasn't a consideration.

    Business is business - you advertise, follow-up, cross promote, etc.

    Your question is actually "Which market (or niche) you wanted to start with?"
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  • Profile picture of the author Jennifer Boyatt
    I have two website/business and I am researching and preparing for a third.

    The first one I was literally at a crossroads of my life (May 2014). I had come through a lot and was ready for the next half of my life. I knew I could not 'go forward' unless I learned how to consistently create money in my life. At that point, I was not thinking online business, but any business, online or offline. I am a person with a lot of interests, skills, and talents, so I had no shortage of ideas. But what I did need to do was to choose ONE, because I knew that whichever one I chose, I was going to focus with it, years, until it was big and exactly what I wanted. So I wrote down a lot of ideas and notes, brainstorming. I considered each one, what it would take to do it, etc. It did come to mind at that time something I had read about before, which was information product funnels. So I decided that I would build an information product funnel. Well, what would be my information? I decided that the personal challenges I had come through in life and how I overcame them would be my material.

    My second business I kind of built it from another direction. I had been introduced to affiliate marketing, in connection with a specific educational product regarding affiliate marketing. I appreciated the opportunity to make high ticket commissions on this product. However, it didn't fit in with my previous business. And I didn't just want to be like "Buy this product. It will help you make money." I wanted to create something sincere, unique, that reflected me, and would truly be of service; and meanwhile provide an opportunity where some sales of that product might make sense and take place. Well, I got a little spark of an idea, and really, it started to build itself inside my head, and when I am building it 'outside my head', I'm just following the blueprints that seem to be downloading to me!! Not that I haven't done a LOT of learning and research; I have. I didn't know I had a calling to teach regarding entrepreneurship (I would have thought that was the last thing I would have authority in); but I have tons of fun and feel like it's what I'm born to do kind of thing.

    My next business: my first two are very 'me' intensive. I do healing, coaching, writing, audios, videos, create products, plus the marketing, web building, and social media side of things, etc.. I love it, but it's just a lot. And I'm not at the 'massive money point' either. I'm still in the planting seeds part and having faith in the harvest. Plus I still have all my other ideas that seem to clamor to be born (focus, Jenn!). When someone first taught me about niche, I went and wrote down like 30 microniches just from my passions. So I have that list, and I intend to create something around each item, over time. Years. No hurry. So the first one of those I chose is a physical product that I love and I will be creating an amazon store website for it. So I won't have to have the product or shipping. I will be doing the content and marketing and list-building, of course.

    = = = = = =
    Think about some skill you have, a passion you have, something you think you would love to learn even if you know nothing now. Think about your life experiences, or what kind of person would you like to help, or what problem you would like to solve. Think about a broad area first maybe (like health? recreation? etc) and then start narrowing it down.
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  • Profile picture of the author dramsey13
    depends if you doing it to get an idea or product out or a just for making money.
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  • Profile picture of the author karlstech
    Thank you all for the thoughtful replies! Will go through them more when I get back from work
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  • Profile picture of the author SmithPi
    I'm not the only person like me. That's where the idea begins......
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  • Profile picture of the author johnhossain1971
    I would like to suggest you to start that work, where you are expert. You should no invest any money in the online sector, before knowing well. So learn first, if you are inexpert. You can learn any business by investing a small amount of money or, you can use as DEMO. Thanks a lot.
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  • Profile picture of the author charlesdavis
    You need to post entertaining Ideas, Stories, Jokes, songs, funny videos etc.. in a single platform for user entertaining purpose and get connected with adsense for extra earning...I think it would be the best Ideas of Internet related work.
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  • Profile picture of the author discrat
    Originally Posted by karlstech View Post

    So, how did you know what kind of business you wanted to start online? Did the idea come like lightning from the sky or was it a slow process of speculating and researching?

    Would love to know what your situation was like!

    Thanks you,

    Karl
    My first one was just kind of by accident or 'destiny' some might say.

    I was making some small, extra amount of money with a little work from homes business. And I saw there was some CPA offers associated with this. So I started a Blog and grew it from there


    - Robert Andrew
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  • Profile picture of the author Zaiyan
    Hey,
    A few online ideas could be --
    1. Ecommerce
    2. Web Application
    3. Website Designing
    4. Web Based Services
    5. Website Flipping
    6. Website Maintenance
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  • Profile picture of the author Green Moon
    I recognized a need for a particular type of information that was not readily available in one place and I built a website to fill that need.

    Whether it is online or bricks and mortar, the most successful businesses are the ones that find an unmet need and proceed to satisfy that need.

    If you watch "Shark Tank," one of the points that the investors often raise is whether the entrepreneur has an existing market that is searching for a solution or whether the entrepreneur is going to need to create the "need" by educating the market as to what the product or service does.

    An "unmet" need does not necessarily mean that others are not already trying to fill the need. It may mean that your solution is simply better or it may even mean that the market is so large that there are always enough customers to sustain a new entry in the field.
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    • Profile picture of the author Steve B
      Here are a few things to consider:

      1- Choose a topic where you have an advantage. Inventory your past experience, hobbies, education, training, job skills, passions, or just things you do well, things you like, and things you enjoy studying.

      2- Choose a topic where you have already had success. If you've made money online already, that might be a good starting point. You'll be ahead of the curve. Your mission will be to increase what you already know how to do by ramping up your efficiency, your reach, and your marketing muscle.

      3- Choose a topic where you have resources. If you have money, time, or friends, or contacts, or mentors, or family/relatives, previous businesses, etc you can leverage these things into the basis of a new business.

      4- Choose a topic where you know there are deficiencies in the products / services / gathering places online. Chances are good that you could "fill a gap" and become successful if you understand what the prospects in the niche are missing.

      5- Choose a topic that has been rising in online popularity and become an early adopter. This takes some skill and foresight, but there's not too many better positions to be in than riding the crest of a new tidal wave of Internet demand.

      Very Important: All of these suggestions are given with the understanding that there is money and market demand in the topic. Without these two elements, you'll most likely end up with a "hobby" web site.

      The best to you,

      Steve
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  • Profile picture of the author Phil Essex
    I know one thing – you need to sell things – not buy things to make money online.

    So that’s what I do – I sell my service – I sell many other products.

    It took time and energy to learn – there is no instant cash machine.

    You have to build a list first off – that’s the key.

    Then you have to learn traffic generation. That’s the water that flows the income to you.

    You need to have products to offer. Otherwise how will you make money?

    I know this email is kind of a rant but I really want my subscribers to do well. Do you have a skill? A talent? A training?

    Can you fish?
    Can you cook?
    Can you carve wood?
    Can you identify birds?
    Can you fix cars?
    Do you know herbs?
    Do you know beer making?
    Do you dance well?
    Do you play the guitar?
    Do you know acupressure?

    Start a site talking about it – make a forum on it – go to other similar forums and offer help – put a link to your forum in your signature. People will come and start believing in your expertise.

    They will WANT you to teach them!

    Make a course of what you know – I am telling you people want to know it!

    Write the course! Write 12 months of it – one lesson at a time. It’s easier than it sounds.

    Charge $400 or more for it. At the end give a certificate of completion.

    I do just this everyday and make $4000 a month – you can too!

    Just start – make a simple site with a forum on it today.

    You might think I am kidding but I am not!

    This is a goldmine if you take action. And it’s much quicker than you think. In a month you will be rolling!

    Fooling around with $7 dollar products will never make you secure financially. That’s the fact.

    I hope a few of you think about this!

    Regards Phil
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  • Profile picture of the author leilani
    Look for what is called "Desperate Niches". You can Google that.

    Then see what resonates with you. You may have some past experience and can share that.

    Or if you are curious about one of the niches, research it out.

    Now it goes without saying, do your due diligence by seeing if you are in a profitable niche. You can get information from this forum on how to find if a niche is profitable. You want to see how profitable before you dive in.

    Leilani
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    • Profile picture of the author escribe
      For me it started as having a hobby site I was passionate about and I could write and come up with ideas for days on end. I saw the potential there and expanded to seeing the response from my readers while also seeing what topic areas lead to my site. When I saw potential there, I created a product and it just grew from there.

      Business can evolve from a skill or passion and then you kind of just flow with it as you see the response from your marketplace.

      Sometimes you also realize strengths in areas where people continue to give you praise. I experienced this in writing and design and then seeing the response from those I've worked with. Also consider the areas you enjoy working in and those you don't. Take note of this too. And if you're good at something, go with the flow and as I said, it may evolve into something more. After all, most businesses are continuously in the evolving mode as they put out content and watch the response from their market. You find opportunities as you go.
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  • Profile picture of the author brettb
    For my first business I noticed my company was using some in house software to solve a problem. After I left the company I made my own version of the software, and did very well out of it.

    My second business started after I started blogging about something I was doing in my life at the time, and I found out by accident that it was a pretty good niche.
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  • Profile picture of the author oskaroskar
    Ideas don’t come like lightning instead they must be nurtured, shared and discussed so as to make them better.
    I took 8 months before stepping into what I am doing now – blogging.
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  • Profile picture of the author jbsmith
    Having started 3 different businesses and consulted with hundreds of others - my advice would be...

    1. Match your passion with desire/demand
    2. Think BIG - in other words, a single ebook or selling your own service (graphic designer, business strategy, etc...) may be where you start, but think where you want to go next...do you want to build an agency, turn your consulting knowledge into a product-based business, - how will you scale and what ultimately is the structure of your business that you want
    3. Don't limit yourself by only what you know today - if you have a passion for another field and you have skills around building into that area, dig in to find commercial opportunity and then drive like crazy

    For us, each of our 3 businesses came directly from our passion for that area, a drive to gain a deep understanding of the market, uncovering biggest gaps/commercial desire and then developing differentiated offerings into those markets with a 3-year plan to rollout mutliple products.

    By following this path you avoid many of the short-term, small-thinking type mistakes that permeate the IM and biz opp space.

    Jeff
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  • Profile picture of the author Joe Benjamin
    Originally Posted by karlstech View Post


    So, how did you know what kind of business you wanted to start online? Did the idea come like lightning from the sky or was it a slow process of speculating and researching?

    Would love to know what your situation was like!

    Thanks you,

    Karl
    Personally, it was a slow process choosing
    career of choice.

    My father taught me both trading/investing
    and sales and marketing.

    The two are vastly different.

    Ultimately, trading made the most sense to
    me in terms of earning potential and saving
    time.
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    **How I FLIPPED $80 into $690 Pure Profit With ONE EASY Method...2 to 3x Per Week...Only 30 Minutes Per Day (and how YOU can COPY my RESULTS, too!) **CLICK HERE FOR VERIFIED VIDEO PROOF**
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  • Profile picture of the author Teri802nj
    For me, it was a service that I knew people needed. Since I had just retired, I thought to partner with the company and begin helping people. No bolts of lightening...just common sense and knowing the need!
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    Theresa Lovelace
    http://theresamlovelace.com

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