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Old 6th October 2008, 08:50 AM   #1
joel77
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Default Want To Start A Web Store

i have just finished a degree in IT and have a small saving bout $5000 i have a passion in business but have not grasped well the business atmosphere. i want to start a web based store for selling cds, photos, music, videos. Musicians, journalists can all use this software to sell their work online. do u think this money is enough for me to buy a website, sofware(web 2),hosting, etc. any idea will be appreciated.
joel

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Old 6th October 2008, 05:30 PM   #2
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With little actual business experience, you're going to face an uphill climb with that business idea. I don't mean to discourage you, and there's always a chance you could come up with the Next Big Thing -- there are plenty of successful businesses that started in garages.

Domains are cheap. Hosting is (relatively) cheap. With an IT degree, some open source software and a bit of elbow grease, you could probably come up with software that would do what you want it to do. I don't know that $5K will be enough to really get you going, but it might, depending on how much sweat equity you're willing/able to invest.

The thing is -- and this is where I really don't mean to discourage you, but you do need to be realistic about this -- there are already a lot of other well-established, well-funded sites doing at least most of the kinds of things you're talking about. There are quite a few stock photo sites, for instance, that allow people to upload and sell their own photos. CDBaby handles CD and MP3 sales for independent musicians pretty well, or if somebody's ambitious, they can apply to be a content provider on iTunes. People can use places like CafePress to create and sell calendars, posters, coffee mugs and more with their photos or artwork on them. There are any number of print-on-demand publishers for those who want to sell books they've written, and probably dozens (or more) sites through which people can sell ebooks and software...

...not to mention that these days it's really not all that hard to set up a store on one's own website to sell things directly.

This is not to say your idea won't work! But you do have some questions to ask yourself:

What are you going to bring to the party that these other options aren't?

What is your USP (Unique Selling Proposition)? That's the thing that makes potential customers like me decide it's a good idea to pay you money to sell our stuff for us instead of doing it ourselves or going through one of these other alternatives. It's what distinguishes you from all the other similar offerings already on the market.

What -- specifically -- about your offering is going to make our lives easier, or make us more sales and profit, than your competition? It's not enough to say you'll do these things. You need to have a good idea of how.

Come up with good answers to those and you'll be a lot farther along toward a successful business than most new entrepreneurs.

--Torka

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Old 6th October 2008, 07:40 PM   #3
joel77
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Default good help

thanx alot i think u have given me one of the best advice but am very confident that i will try and fight on as everyone does, and because of my target audience (developing country where i will b based soon) where such businesses are not there and if there are ..its only few and i have notivced that with good design, content and customer centred approach one may succed in future. The internet base is coming up, though few people own computers the country is aggressively promiting IT and by two or three years to come things will betta for us who are atlst hav manged to do some bit of bz. any idea how much a job search software costs?

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Old 6th October 2008, 09:42 PM   #4
IV Studios
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Quote:
Originally Posted by joel77 View Post
any idea how much a job search software costs?
Hi there,

Torka has given you some really great business planning advice. And it's really good that you are so determined to work hard and make your business a success but you do have to keep in mind that just because you will be in a developing country, that doesn't mean that the pople in that country will be going to your site or using your product. That's the beauty of the internet -- once someone is online (not including government censorship) they can 'go' anywhere else in the world and that means they may have access to all your established competitors.

What do you mean by "job search software"?


Last edited by IV Studios; 6th October 2008 at 09:45 PM.
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Old 8th October 2008, 06:18 PM   #5
WebBizIdeas.com
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Default Turn The Tables on The Idea

Quote:
Originally Posted by joel77 View Post
because of my target audience (developing country where i will b based soon) where such businesses are not there and if there are ..its only few and i have noticed that with good design, content and customer centered approach one may succeed in future.
Hi,

Just a shot in the dark but sites in the country are probably that way because the lack of education. I would check out this graph on Internet Users By Country
and see what your true market potential is.

You may want to turn the tables and start a business that helps Internet Entrepreneurs get online in the country. Or you may want to help sell products from this developing country online for residence.

I am sure this developing country has products that no one else in the world has. You can be the "ebay store" for the country.

An example is http://www.exoticworldgifts.com/

They became famous with this video on YouTube.com:

http://www.exoticworldgifts.com/

My advice: Instead of selling to the people in the developing country...try helping them sell to the rest of the world that does not know anything about the products in that country.

Jeff

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