Week 1

Week 1

Business Model & Idea Generation 

This week I learned the basic categories of business model. The big question was “when it comes to create an online business what we should do first ?: A) Choose a business model first, then brainstorm product ideas to fit in the business model, or B) brainstorm the product idea first, then choose the business model that works best with that idea.

After reading everyone’s opinion about it my brain hurts  and what i had read was just the tip of the iceberg on possibilities you could do with the business. everyone has a point and demonstrated them well. Let’s take a look around! you see lot’s kind of business model  by itself or mixed and there are lots that made a success. In my opinion anyone that want to create a business has to follow their heart and make everything else in tune with it, besides you get to work on things that you enjoy doing!

Demand and Competition

How do you know the right product to sell? I think the word “Right” is out of place here, because you can sell almost anything if people can find your website. So “right” is a PLUS and am sure you want that extra in your pocket.  There are tools like the “Google Keyword Planner” that will help find the right product to sell, it will show how many people are interested on that specific product etc.

Reading Sources:

http://bizthoughts.mikelee.org/brainstorming-business-ideas.html

http://digitalenterprise.org/models/models.html

http://www.youtube.com/watch?v=D-ToN1Tw7io