Copyright © 2011 Yorgo Nestoridis
. Visit the original article at http://yorgonestoridis.com/yorgo-nestoridis/how-to-build-an-online-business-102/
Online Business: The Online Business Idea
In our series about how to Build an Online Business we have started lining out some basics. Now we need to lay down the business idea we want to implement. Based on the Business Idea we will elaborate a Plan and then Implement the plan.
This series of articles features a live experience in real time. I have no clue about the out come but I will use all my experience and know-how to bring the business to fruition using all the means at disposal.
The Online Business Idea
I would like to create a business in a geographically limited area far from my home country. I have identified local needs for products and services and I am convinced that my products and services are highly competitive in the selected market.
The Target Area
To build my online Business I target South Africa, a country where liberalization of communication systems and Internet is still in its beginning, preventing thus locals from accessing cost efficient solutions for the use and exploitation of the Internet. While country wide campaigning may be too heavy of a charge, we may want to select a first target area for the pilot project.
The Products and Services
Products will be within the global scope of Web Services with special focus on:
- web hosting
- domain hosting for international domain names
- social networking
- online shopping
- online education
- customer care
The Online Business Structure
To follow the above order we need:
1. A Web Hosting Service for South Africa
2. Domain Hosting for International Domains
3. A Publishing Network
4. A Marketing Team or Partners
5. A Product Line for Publishing and Advertising
6. A Social Network
8. Customer Care
9. A shopping area
The whole business will be vertically and horizontally integrated. A Business site will serve as portal to access all services and products offered.
The Online Business Model
The business will provide free services to a wide public to develop Internet penetration and to give access to a wide public to the benefits of the Internet.
Consumers will largely be able to access services for free; the business plan is to be financed by advertisers as well as by users who may need and purchase additional services, whereas we will apply pricing corresponding to international standards; our study shows that web services in South Africa are sold at 2–10 times higher rates than what we are used to in the global market.
Knowledge about the local environment are of paramount importance for the success of the business. It is therefore necessary to acquire such knowledge, ideally by entering local partnerships.
The next Step
Once the idea in place, we need to budget the operation and establish a feasibility study where we will compare our means with our ambitions.
- How to Build an Online Business
- Hosting South Africa
- The Garden Route goes Live
- Hosting South Africa News 105
- Hosting South Africa