Business Model and Idea Generation/Demand and Competition

In this entry will analyse the two first steps to follow when we want to create an online business.

FIRST: BUSINESS MODEL AND IDEA GENERATION.

When we want to start we can feel kind of lost in a sea of opportunities, that becomes overwhelming if we don´t have the right information that help us to start. I have read this articles:

http://bizthoughts.mikelee.org/brainstorming-business-ideas.html

http://digitalenterprise.org/models/models.html

In the first on I found many ideas to choose a service, good or product. And in the second one there are online business models, After reading these articles an important question came to me. What should I choose first? The product or the business model?
After reading my classmates comments and ponder about it I decided that I´d choose the service, good or product first and then the business model. Here I explain my reasons:
1. If I have a my service, good or product I can set the target audience easily.
2. I´ll be able to chose the business model thatwill help me to promote my service, good or product
3. The business model is the path to sell my service, good or product.

When the product has been chosen we can then go to chose which business model will help me to increase my business. Maybe I can chose a Manufacturer model, where I sell a product that I produce. Then I can add the affiliate model to my site to allow banners earn extra money.

 SECOND: DEMAND AND COMPETITION.

This second subtopic is something that must be consider when we want to start and online business. I have used the Keyword planner tool from Google AdWords.

This is a powerful tool that help you to search for words and see how many searches there are in a month, and see the competition level. This something that we must consider when we want to know which words, related with our business, are searched per month. Worth noting that we can search by country or city, if we want something more specific. We can take advantage of high traffic words, and use it to add banners and earn money per click.

CONCLUSION.

The online business can be very profitable if we have a well structured plan. For that we must consider every factor to see if it will be successful or not. We can take advantage of real data provided by Google to choose the best strategy for our business.