Best online business ideas

[faustvasea]

Hi.. i am new here. But i always had the entrepreneurial mindset. I have tried several online businesses over the years and all of th failed.

Is there still room for business nowadays?

I have good skills and can execute pretty much everything when comes to online world. Still own 9 websites myself

 

[Mark T Jones]

Is there still room for business nowadays?

Yes. Always will be. As one old-hand put it to me when I started out 40 years ago (and was undoubtedly moaning how hard it was) 'It is as it ever was'...

You need to find your niche - part research, part trial & error.

 

[fisicx]

I have tried several online businesses over the years and all of th failed.

But then:

I have good skills and can execute pretty much everything when comes to online world.

Maybe it's you marketing skills that need a bit of polishing up.

There are bazillions of business opportunities. Many of the good ones aren't online.

 

[DontAsk]

Hi.. i am new here. But i always had the entrepreneurial mindset. I have tried several online businesses over the years and all of th failed.

What does your analysis tell you about the reasons for failure?

Is there still room for business nowadays?

What a strange question. Of course there is.

I have good skills and can execute pretty much everything when comes to online world.

So why did all of your businesses fail?

Still own 9 websites myself

So what?

 

[faustvasea]

There are bazillions of business opportunities. Many of the good ones aren't online

That’s what I was thinking. Many non online businesses require capital. Unfortunately I don’t have that.

 

[faustvasea]

Yes. Always will be. As one old-hand put it to me when I started out 40 years ago (and was undoubtedly moaning how hard it was) 'It is as it ever was'...

You need to find your niche - part research, part trial & error.

I am 32 and sometimes I think I am a failure after so many attempts of trying to open something.

 

[Mark T Jones]

I am 32 and sometimes I think I am a failure after so many attempts of trying to open something.

Write them down to experience

How many did you really commit to?

You're supposed to be entrepreneurial, so think like an entrepreneur

Where is a gap in the market?

What existing product/service can you improve on?

What niche can you fill?

 

[Gecko001]

What does your analysis tell you about the reasons for failure?


What a strange question. Of course there is.


So why did all of your businesses fail?


So what?

There are a lot of reasons that could cause a business to fail, but one that is not often mentioned is a lack of capital. But it is probably the most common reason for failure.

 

[faustvasea]

There are a lot of reasons that could cause a business to fail, but one that is not often mentioned is a lack of capital. But it is probably the most common reason for failure.

That’s it. But also, if you cannot earn money without capital, you won’t be earning money with capital. I forgot have said that.

 

[faustvasea]

Write them down to experience

How many did you really commit to?

You're supposed to be entrepreneurial, so think like an entrepreneur

Where is a gap in the market?

What existing product/service can you improve on?

What niche can you fill?

Initially I have started as a photographer, that’s dead market. Invested in video gear, dead market.

Now I’ll have to dig for something else.

I was thinking about e-commerce gold business.

 

[Mark T Jones]

Initially I have started as a photographer, that’s dead market. Invested in video gear, dead market.

Now I’ll have to dig for something else.

I was thinking about e-commerce gold business.

Neither of those is a dead market - you just didn't find the niche.

Business is largely about marketing, which includes research and working out why/how you are different from the others.

You can't just turn up and hope...

 

[fisicx]

That’s it. But also, if you cannot earn money without capital, you won’t be earning money with capital. I forgot have said that.

I started with nothing. Did my research, found a niche and now do OK.

 

[faustvasea]

Neither of those is a dead market - you just didn't find the niche.

Business is largely about marketing, which includes research and working out why/how you are different from the others.

You can't just turn up and hope...

Well, both markets are over saturated. It’s a race to the bottom. While I still make some passive income. Offering photography services, is kind of dead now.

Probably haven’t tried hard with video.

 

[faustvasea]

I started with nothing. Did my research, found a niche and now do OK.

Online or physical?

 

[Mark T Jones]

Well, both markets are over saturated. It’s a race to the bottom. While I still make some passive income. Offering photography services, is kind of dead now.

Probably haven’t tried hard with video.

How much research have you done?

What avenues have you explored?

TBH I'm seeing a lot of excuses here....

 

[faustvasea]

How much research have you done?

Well, in terms of photography I was doing ok while living in London. Once I have moved out. I had couple of clients in 3 years. There’s already established photographers in my area.

What avenues have you explored?

I don’t think I can stand a chance with an established business already.

And again, people don’t spend money of photography nowadays

 

[Mark T Jones]

I was thinking about e-commerce gold business.

What research are you doing?

how will you differentiate yourself?

Or will you just make a website and hope people come?

 

[faustvasea]

What research are you doing?

how will you differentiate yourself?

Or will you just make a website and hope people come?

Cheaper price I would say and marketing. Research to find a cheaper supplier .

 

[Gecko001]

That’s it. But also, if you cannot earn money without capital, you won’t be earning money with capital. I forgot have said that.

By capital, I did not mean money used to make more money such as investing in the stock exchange. I meant money kept in reserve to keep the business going through rough times and to enable you to buy essentials for your business.
Your difficulties seems to be that you cannot really get going at all.

 

[fisicx]

Cheaper price I would say and marketing. Research to find a cheaper supplier .

Then you can become a busy fool. Raise prices and you get fewer but better clients.

There is loads of work for photographers. You just haven’t found your niche.

 

[Mark T Jones]

There are a lot of reasons that could cause a business to fail, but one that is not often mentioned is a lack of capital. But it is probably the most common reason for failure.

I'd distinguish between capital and cashflow

Capital requirements should be fairly clear from the outset (with research) and as the owner you can chose to walk away, to raise the necessary cash or the phase things

Cashflow is far more tricky but ultimately comes down to marketing/sales, credit control and supplier terms.

 

[Paul Kelly ICHYB]

Until you know what you want to do, do nothing.

If you start a business without knowledge, experience or an ongoing passion in the subject, you have an unbelievable chance of failure.

Before you invest anything, research. Write a basic business plan to cover all of the key areas and keep adding to it.

Shooting first and asking questions later will deliver silence!

Many non online businesses require capital.

All businesses require capital, even if it is a domain name & hosting or a bucket & cloth!

 

[Mark T Jones]

Cheaper price I would say and marketing. Research to find a cheaper supplier .

Ah, straight in to the race to the bottom.

Why will anyone supply you cheaper than they will experienced and reliable customers?

Time for me to move on, because you really aren't thinking like a business person, you're just looking for quick and easy - which usually means quick easy failure

There are no magic bullets.

Anyone who has a great sure-fire business idea isn't going to share it, they are going to do it - and if it's really great, everyone will jump on the bandwagon and it will become just another.

 

[Lucan Unlordly]

Cheaper price I would say and marketing.

Unfortunately the two don't easily go hand in hand.

When I started I cut prices to the bone but subsequently spent very little on advertising other than that which I was able to do myself through social media and existing contacts. The difference when set against many new businesses is that I didn't need to see an immediate return as I had other employment.

Do you have another job?

 

[faustvasea]

All businesses require capital, even if it is a domain name & hosting or a bucket & cloth!

Agree. Everything online l, I can achieve. But does not require a lot of capital. I did invested in couple of forums as well. And is true, there’s no quick formula to it.

 

[faustvasea]

Do you have another job?

Yes, I have a job and have multiple stream of passive income from stuff I have made online. But is not massive.

 

[faustvasea]

Time for me to move on, because you really aren't thinking like a business person, you're just looking for quick and easy - which usually means quick easy failure

Ain’t looking for easy and quick money. I know myself, this doesn’t exist.

I’m looking for other opportunities.

 

[fisicx]

Ain’t looking for easy and quick money. I know myself, this doesn’t exist.

Yes it does. If you know where to look. Find a niche and exploit. I’ve made thousands doing this.

 

[faustvasea]

Yes it does. If you know where to look. Find a niche and exploit. I’ve made thousands doing this.

Online ?

 

[fisicx]

Online ?

Yes

 

[faustvasea]

Yes

I need to probably keep trying. I’m looking more to make subscription based model business.

 

[fisicx]

I need to probably keep trying. I’m looking more to make subscription based model business.

That’s just a random statement. Subscription businesses are hard work and mostly fail.

Unless you have something people really want and can’t be easily replicated this isn’t going to work.

You can make more money stacking shelves in a supermarket.

 

[Banksbroo]

Hi.. i am new here. But i always had the entrepreneurial mindset. I have tried several online businesses over the years and all of th failed.

Is there still room for business nowadays?

I have good skills and can execute pretty much everything when comes to online world. Still own 9 websites myself

Lack of capital can be an issue either online or olde world. If that's the case you need to be agile. What skills, experience and interests can you rustle up to make a profitable business? There is always a niche service or product which can address a niche market. That market could be very local to you, or nationwide with only a few customers in each area. Learn from past experience. What factors led to the other businesses not succeeding? Be hard and honest with yourself. Having done that, don't repeat the same mistakes.
Something jumped out there when you said you still own 9 websites? Are they profitable? Do they consume time or money? If they aren't profitable, they are an expense and a drain on your time. Sell or dump them and move on.

 

[DoolallyTap]

Supply a service, make something, buy something and resell it, there a plenty of buy and resell products available. Stock, website, google, that's it, how much? What you got?

 

[Legacy121]

Well, in terms of photography I was doing ok while living in London. Once I have moved out. I had couple of clients in 3 years. There’s already established photographers in my area.




I don’t think I can stand a chance with an established business already.

And again, people don’t spend money of photography nowadays

I just started a photography business here as well in london, how did you proceed to start it? in terms of securing clients? We were working with other agencies before and have plenty of experience in the work already.

 

[ethical PR]

Initially I have started as a photographer, that’s dead market. Invested in video gear, dead market.

Now I’ll have to dig for something else.

I was thinking about e-commerce gold business.

Neither video or photograph my is a dead market if you provide a quality service and understand how to market yourself effectively. What niches did you specialise in and what experience did you have in these sectors.