Added: Feb 8, 2012
From: Gigadio
Duration: 4:30
http://gigadio.com/viable-business-idea/ There are three elements that you MUST have in place in order to have a viable online business idea. Without all of them, your business is most likely not going to succeed. What those three things are? Here is a list: - Market - You need to have a specific group of people who you are targeting. - Offer - You need to have something to sell, something that people are actually willing to pay for - Execution - You need to have a way to connect your Market and Offer to each other. This means taking action. This is of course a bit simplified model, but still, it describes a viable online business idea well. If you are lacking one of the elements your business will suffer. For example: - If you don't execute, but you know your target market and your offer, then it is just an idea. Ideas are generally not worth anything. Without execution there is not business. - If you don't have a SPECIFIC target market in mind, then you will have problems selling. Conversions will most likely be kinda low. This is because you are trying to sell something to people who don't want that exact product or service. Either improve the offer or target better. - If you have no offer... surprise surprise.. you won't make any sales. To read more about this topic, visit my blog: http://gigadio.com/viable-business-idea/
Channel: People
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