So you have decided to start an online business, that’s the easy part! Now you are looking for ideas and inspiration as to what direction to take next.

First though I want you to think about your mindset. It is one thing wanting to start a business quite another actually seeing it through to completion and then promoting it to the world. This is where a lot of people run out of impetus and after a few setbacks loose interest then start looking for the next ‘big idea’.

So just take some time to do your research, create a plan, set out how you will build your business from the ground up making sure you don’t jump from one section to another. Write down how you will deal with setbacks, who you can follow to keep inspired and informed and then consider what sector you would like to get involved with. This is will be the game changing question: ‘What business can I set up?’

I have had many people ask me this very question and my reply has always been the same look at where others have been successful, consider whether that is an area you would like to go into. Often this answer is followed by another question ‘isn’t that illegal or unethical to copy somebody else’s business?’ Well actually it isn’t either and by adapting a proven profitable business model to your own style and set of circumstances the original idea will in any case be in your own form. Copying then adapting ideas is as old as business itself, so certainly don’t be concerned about getting inspiration from other businesses. Just make sure you do not copy any of their trade marks, copyrights, brands or licensed products etc. as this will get you into trouble!

In this blog we will be researching sectors and business in those areas we particularly look at businesses that are for sale, researching how profitable (or not) they are, businesses that offer similar products or services (competition), where they advertise and long term prospects for the sector.

Feel free to comment below and let us know when starting a new online business what would like to know more about.

Peter Tratt
Peter Tratt

Providing business research, strategies and reviews for entrepreneurs. Do make contact to be kept up to date with the all the latest news and information.

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