How Do I Start When Choosing an Online Business?

Do I start by selecting a product to market or do I determine a business model and find a product that will support that?

We were shown how to use the keyword planner by following the instructions found here: https://youtu.be/NSq7ld0OFMs

I also had a problem getting the Keyword Planner to work and I was successfully helped by Google’s support staff.

This week I selected a number of products and, using Google’s Keyword Planner, I determined the level of demand and competition for two products; chess and snowboards. This research showed that “chess” may be a good option as an information site where the competition is lower than snowboards. However, the estimated impressions for “chess” are fewer than 1000/day suggesting that not many people are looking for this keyword. Searches for “snowboards” was 3 times higher which may suggest that, despite the high level of competition, this could be a good opportunity for us if we are prepared to work hard and beat the competition.

For a first project I would choose a simple product and focus my attention on developing a solid business model with robust processes. Once I am satisfied with the model, I will be able to scale this to include other products which are more competitive but which, in turn, will bring in a greater reward.

  • I learned a few interesting things from my class team;
  • Start small and when you have the process working, scale up to include other products
  • Start big because starting small is a waste of time
  • There are many ways to commercialize a website. One size does not fit all.
  • Choosing a product or business model is not clear cut or easy.
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