A while back I was asked by an entrepreneur for advice about creating an income-generating website. He had no ideas in mind and simply didn’t know where to start. After taking some time to think about it, I responded with the following. Within a few months he’s already documented a ton of ideas and started executing based upon a few of them. Here is my advice on getting started.
Focus on your passions
It’s a lot easier to understand what others would be willing to pay for or find value in if you focus on an area that you know very well. I see that you are interested in personal finance & fitness; two most excellent categories that are fairly easy to monetize so long as you provide genuine value.
The other day I was having a talk with a colleague that I had lost contact with over the past few years. It was a wonderful time to catch up, right before Christmas and to remember all of the fun and exciting projects we’ve done together over the past several years. He confided in me that in 2012 he would be leaving Sony to start his own online presence, an entrepreneurial dream that he’s held closely to his heart for several years and he asked me what recommendations I could provide him to help him ensure success, after all he was nervous, all the risk was standing on his shoulders. At the same time it was delightful to literally feel the passion in his voice and the anticipation of the rewards he could earn as a result of his hard work. Well after that discussion, I decided that it would be valuable to share with everyone my thoughts on what are the most important aspects of ensuring online success. I hope that you enjoy this read and it opens your eyes to something you hadn’t previously considered. If it helps you or your business to improve even marginally then I’ve accomplished my goals, after all successful businesses are built by one small accomplishment after another. Please note that my advice is assuming that you’ve already done your homework – business plan, competitive analysis, SWOT analysis, etc. and determined that your products and services are competitively viable in the industry. Now, assuming this, let’s get started…