Look for a problem with dire need
It goes without saying that for a business idea, more so an online business idea to penetrate and dominate the market, it has to solve a problem. The saying that “necessity is the mother of invention” couldn’t be more relevant. When pitching a business idea, you must ask yourself the following questions ‘Who are those in need of this business?” “Is this idea unprecedented?” ‘‘Will it solve people's problem at a lower cost?" Is it flexible enough to penetrate the volatility of the market?" These are critical questions to ask.
The good thing is, you do not have to answer all the questions yourself. Do a survey of your target population and get to learn a thing or two from the horse’s mouth; ask business people who have been successful in this endeavor to lead you on. Doing all this is the first step to pitching a great business idea as an online entrepreneur.
To develop online entrepreneur ideas that work
You need to ask yourself the “what” and “how” questions after having demystified the “why” of the online business idea. Also, you need to tackle the "what" and the "how." What is the idea really about? What niche will it fall under? How will it be planned? What are the step by step progressive movements it will take before the completion? When these questions are answered clearly, the route ahead will be less hazy.
Take advantage of the existing Internet Business Opportunities
It was earlier mentioned that most business ideas do not scale through because they just want to join the bandwagon of existing ones. While this is true, it is also possible for an online entrepreneur to thrive, dare say, dominate a market with enough players. One should always understand that the first isn’t necessarily the best and it is advisable to take a new perspective when going into a dominated market. If they are all going the vertical way, why not try out the horizontal way and see how it pans out.
There is a higher chance of success penetrating a traditional market with cost effective and technology savvy business ideas. A case in point is how well e-commerce have thrived today. Along with its presence came convenience and cost effectiveness that the traditional way of trading didn’t have.
Conclusively, you should have a determinant and fighting spirit. The idea might be great and equally needs significant push. Be yourself. Be different. Follow it through and watch your online business idea thrive. To succeed as a business person, you have to develop the ability to find and offer the appropriate services or products to your customers in this competitive market. Your ability to make the right choice determines your success.
Do you have questions or comments?
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