Developing Your Internet Business Ideas - 

Brainstorming, developing and planning for success

Developing your internet business ideas is actually a more involved process than many people think. Lots of people think, oh, that's a great idea, I'll put up a website and make lots of money from it. Unfortunately to create the success you're looking for, you need to do a bit more planning before you jump in feet first. 

Originally I was going to write this page about all the different basic internet business ideas that are popular on the internet. However, I've gone into that pretty extensively in my section on ways to make money online. If you need inspiration, make sure to check out that section. Instead, I thought that I'd take this space to walk you through how to develop your internet business ideas, from brainstorm through evaluation to the beginnings of implementation. That way, you can create an internet business that will match your goals, passions and experience perfectly.

Phase 1: Brainstorming possible internet business ideas

The first thing you need to do is to decide what kind of business you want to start. Really, this should come out of your own interests and passions, so start by writing a list of the things that you enjoy doing that you'd do every day if you didn't have to go to work. Ok- go do that now!
That was fun, wasn't it? Now you're ready to refine this list. This is a 3-step process. First of all, cross anything off the list that wouldn't be fun any more if you HAD to do it every day. There's just some things that loose their pleasure if you're doing them day in and day out.

Next, get rid of anything that would require you to take on some massive type of schooling. I would LOVE to go into outer space, but I'm never going to be an astronaut, because of my eyes and lack of love for physical fitness training. So that's out. Now, if I just loved outer space and the key wasn't to GO there, then perhaps I'd keep it - I could do all sorts of fun websites on that.

Finally, look around the internet to see if there's any sort of demand and if it's not too saturated of a field for you to get into. For example, the "Make Money Online" field is one of the worst internet business ideas because it's such a saturated market. I knew this going in, so I always try to set my stuff apart from the masses with lots of good content. If you're using Site Build It!, the BrainstormIt! functionality makes this process a streamlined snap, which is why so many of their sites succeed where others fail.

Once you've got an idea of the general internet business ideas that you're interested in, you'll need to decide on the style of a business that you want to start.

Phase 2: Decide what items of value you will sell

The basic model for commerce - you offer something of value for sale. Take out a new sheet of paper and decide what thing of value you're going to be offering for sale.

Consider the following:
  • Are you going to sell value to your visitors (such as products) or are you going to sell value to your advertisers (such as affiliate programs and ads on a high-traffic page)? While it's possible to do both, you should probably choose one over the other because the type of website, type of business and type of monitization that you develop will differ.
  • Are you looking to build a large business? Do you dream of yourself as the CEO of a publically traded company? Or do you never want to be chained to a desk again? This is an individual value and lifestyle goal choice that will greatly impact they type of business you're creating. For example, if you don't want to start a large company, you'll never want to really do shipping of products yourself because at some point that will require you to hire employees.
  • Is there a way to automate or offer for a lower price the value that you're selling? If there is, what will you do to stand out from the competition?
So what is it? Are you going to offer widgets for sale and open an eCommerce Business? Are you going to become an infopreneuer and make money from your website? Are you going to leverage your sales skills and market other people's products in exchange for a percentage of the profits? Are you going to help people clean out their closets and sell their things on eBay for them? These are just some basic internet business ideas, but you can see how varried the field is.

Now that you've got that figured out what you'll be doing to make money, you've got to figure out how to make this a reality.

Phase 3: Develop a comprehensive plan for execution

Once you've figured out how your internet business ideas are going to become an income stream, you need to figure out how to make them a reality. Ask yourself:
  • Where will the products come from?
  • How will I get customers/visitors to my site?
  • What kind of legal business structure do I need to get this set up and established?
  • Do I need start-up money? If so, where will it come from?
  • What kinds of profits will I expect to see? What kinds of expenses?

Basically, develop a business plan. This is so, so, so often overlooked by online entrepreneurs. Sometimes because the business develops around a hobby that was never going to be a business. Sometimes because they think they'll succeed if they just "wing it." Sometimes because they don't know how to create one.

Take the time to develop a viable business plan before you invest any money into your internet business ideas. You may find that your ideas aren't potentially profitable, or that you need to change your monitization structure to make them profitable. You may find that the potential start-up costs will be much larger than you can find funding for. You might figure out that you need to develop your ideas further because they're not refined enough. 

A business plan is the bridge between the fun of dreaming about your internet business ideas and the reality of making them work - a solid bridge will cross that gap with no problems where a broken or non-existent one will make it impossible to keep going on the path to success.

Return from Developing Internet Business Ideas to the Starting an Online Business main page

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