I really want to make six or more figures online. I have a few online business ideas but I am not sure if you think any of the ideas are profitable and could make me six or more figures a year? The online business ideas are….
Idea 1. The first idea is a website where I sell office chairs. I would get the office chairs from a dropshipper and drop ship the chairs, or I would get them from a wholesale company and ship them myself. Since many home businesses are starting, more people are buying office furniture for their home business. Office furniture is a billion dollar industry. I heard of a kid named Sean Belnick who grosses 24 million dollars a year from selling office chairs online. I know there is some competition in this industry, but not too much. Do you think this online business idea could make me six or more figures a year?
Idea 2. The second online business idea is a website on songwriting. The website would contain a ton of content through articles, how-to’s, and reviews on the topic of songwriting since I have a lot of knowledge about the topic. Once I get traffic, I would ad some ads, google adsense, and relevant affiliate products on my site to monetize. Do you think this online business idea could make me six or more figures a year?
Idea 3. This idea is cool, but since there are already sites that do this, it could be challenging. The third idea is a website where users can buy, trade, and sell gift cards for money. I would make profit by charging the seller a small fee if their gift card makes a successfull sale. Do you think this online business idea could make me six or more figures a year?
Idea 4. I like this idea a lot. The last idea is a website where users who sign up for free can submit their origninal songs (that they must have rights to). Other users can listen, rate, comment, and share songs with friends. Submitted songs can be entered into the top 10 list by having the most hits and best rates. Users can also friend eachother and chat in a chat room. Say a user submits a new song, he can choose the option to have all of his friends notified about the song. So basically the site is an online community where users can listen to new music, share, comment, post original songs for feedback, and communicate with other members. The site would be free to use, but I would make money from ads. I am getting a quote from a web design firm right now, but I would probably be paying 5-10k for this site to get up and running. Do you think this online business idea could make me six or more figures a year?
Out of all the ideas, I think Idea 1 is the most profitable since I would be making $100 dollar profit per chair, but I want to hear what you think. Do you think any of these online business ideas could make me six or more figures a year?
From the limited amount of information you provided, nobody can even make an educated guess as to which one of the four will work. You need to write a business plan for each of your ideas. The business plan will force you do do the research required to make a decision. Go to sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html for instructions on how to write a business plan.
I don’t know how families with the number of conventional retail stores that fail within the first couple of years of business. The same goes for web based businesses, I recently saw a report of someone setting up an online jewelry store, spending $500 on advertising in this competitive field and failing to make one sale.
It’s essential to do your market research, appraise the competition’s web sites and estimate the cost of creating one of equal quality. Learning their page rank and Alexa ranking is useful for estimating how much free organic traffic they get fron the search engines, one of the main factors, the number of sites linking to them may be determined with the Yahoo Site Explorer. Developing a search engine ranking can go under long term advertising costs.
Consider your strengths, jumping into a field like office furniture that you have no experience or established connections in may not pay off. Any established market with high sales is already going to be filled with experienced salesmen with warehouses of stock on hand, it’s naive to think you will discover an untapped multi million dollar market.
Using your inventiveness to come up with an innovative site idea, like the next youtube, would effectively be creating a new market, I would just suggest you test the model as inexpensively as possible, many of th innovative companies were started by computer science majors who could spend endless hours creating original code at no cost. Try to test concepts like your song review site at first with stock web components and manual management, in the case of the songs site provide a file upload mechanism and a submission form that are stored on te server until you manually add them to the play/review section. if the volume exceeds your ability to manually manage things, you then can consider getting custom scripting done, if you can define the technical specs you might be able to hore off short codes for less money through elance. I could imagine getting your legal ducks in a row for the song submission site might be the highest initial cost. To pay off you may well need to promise getting their songs reviewed by publishers, which would naturally happen if the site grew sufficiently.
You might look at what you can do with google voice phone dialer widgets, each button on a page can play a different recorded greeting when it calls their number for free, perhaps a prompt to sing a song segment, you could manually edit together several over the phone submissions into a novelty song.
Again I an pretty much guarantee you won’t make six figures with your first web business ventures, look at them as learning experiences, try to minimize your losses as you gain valuable experience.
It seems that you have an entrepreneurial mindset and that’s a very good sign. On the other hand, this site might help you re-think your options ideas http://rewardingbusinessmodel.com/
You could write an ebook about something you know, then sell it.
Here they make you a professional page for it http://computereweb.com/get-10-dollar-website it only costs $10
when you get going you can write more ebooks and keep on selling them, it’s a good method.
In my opinion idea #1 would be very competitive area to jump in, since there are thousands of web-based sites selling ‘good’ quality products at crazy price from all over the world. I like the idea of putting ads on your website; the hard part would be achieving high traffics by providing quality contents, eye-catching design/layout, and ads relevancy, and SEO things and you know there are many factors out there.
I’m a web freelancer and currently working on couple of web projects for my clients, which involves making profits through heavy-ad-clicks and potential purchases. Inspired by my clients, I’m also thinking of creating my own websites with specific contents of my interest and some ads on them. If you need any help/advise/even price quotes in developing custom websites, feel free to email me at info@bizipage.com.
I believe that you need to go with the one that you truly have the most interest and passion in. You can make alot of money with any of these ideas the key is to have the drive and passion to work hard at it. When you are genuinely interested in something you will do the necessary hard work to see it through. I have some ideas for you to help you start getting income and get familiar with online business. These tactics will help you support your business finance wise and in the business sense.
You can absolutely make more than 6 figures a year on this website! It is a legitimate website. If you really need money, I highly recommend this website. It will cover all the areas you are asking about Mike and it will show you how you can start earning money online from 345$ a day to more than 30,000$ a month. Mack, the founder will take you through step-by-step video tutorials to teach you how to start earning money in a quick and fun way. It’s a secure website and safe. I am watching the video tutorials and it’s fun and I am already earning more than 345$ a day! Good luck! Here is his link: http://www.maverickmoneymakersclk.com
What is your first sense when you meet some program that promise you to give money just for joining with no other efforts? “It is too good to be true” – is that? In prevalence it IS too good to be true.
The Internet is overload with all kinds of on-line business stuff. There are many usable programs either. But as far as I know by experience there aren’t way to earn money without investing your efforts. Firstly you must learn a lot to succeed in that field. Secondly you must implement what you learn. Without these main things every program that you join will seem scam.
Yes, you have come to the right place. I work from home since 7 years and making money for aroud Rs.7000/ to Rs.9000/ monthly. See i have a one year old baby thats why i am earning only this much.. but if you get into it consistently, you can earn even more.
I will explain you in detail about it.. mail me at meetsrividya@aol.com or call me at 9840269001.
Thanks