Read the book: «Internet business from scratch: from idea to million»

Illustrations Recraft ai

© Алексей Сабадырь, 2024

ISBN 978-5-0064-4856-8

Created with Ridero smart publishing system

Chapter 1: Finding a niche, analyzing competition, choosing a business model

Welcome to the world of online business, where your ideas can become reality. We will dive into the fundamentals that will help you start your path to success. We will learn how to choose a promising niche, conduct an in-depth analysis of the competition and determine the most effective business model.

Idea: the starting point

Your idea is the heart of your business. It should be:

Relevant: solves a problem or meets a need for the target audience.

Unique: stands out from the competition, has its own «zest».

Available: implementable given your resources and competencies.

Finding a niche:

Define your passion: what are you really interested in, what are you good at?

Research the market: conduct research on popular trends, gaps in the market.

Study the target audience: who are your potential customers, what do they need?

Competitive analysis: study the key players in the market, their strengths and weaknesses.

Competitive analysis:

Conduct a SWOT analysis: assess the strengths and weaknesses of competitors, as well as opportunities and threats.

Study the marketing strategy: how do competitors attract customers, what channels do they use?

Price analysis: compare competitors’ prices, define your pricing policy.

Choosing a business model:

Direct sales: selling products or services directly to customers.

Subscription: recurring payments for access to a product or service.

Affiliate program: receiving income from referral sales.

Advertising: receiving income from placing ads on the resource.

Combined model: a combination of several models.

Niche search example:

Example: Imagine that you are interested in a healthy lifestyle. You could choose the «healthy eating» niche and create an online store with healthy food products, a website with recipes, or a blog about a healthy lifestyle.

Chapter 2: Building the foundation of your online business

It’s time to move on to building the very foundation of your online business – your website or app. This chapter covers the key steps to creating an online platform, choosing a reliable hosting service, and setting up a content management system (CMS).

Website or app: choosing a format

Website:

Advantages: more accessible to develop, easy to scale, suitable for most types of online businesses.

Disadvantages: limited functionality, less interactive, requires additional optimization for mobile devices.

App:

Advantages: more interactive, rich functionality, available on mobile devices.

Disadvantages: more complex to develop, requires a large investment, limited by platform (iOS, Android).

Website creation:

Do it yourself: use website builders (Wix, Squarespace, WordPress.com) or a CMS (WordPress.org).

Professional developer: creates a website tailored to your individual requirements.

Choosing a hosting:

Hosting: provides space on the server for your website.

Hosting types: Shared, VPS (virtual private server), Dedicated.

Selection criteria: reliability, speed, technical support, price.

Setting up a CMS (WordPress):

WordPress: a popular and flexible CMS, suitable for different types of websites.

Installing WordPress: upload the WordPress script to your hosting.

Choosing a theme: define the style of your website, choose a suitable theme.