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---- Internet Money Making Principles

BlobFisk - 10:47 am on Sep 5, 2002 (gmt 0)


I think that the lack of a good business model is the downfall of many people/companies that venture into eCommerce. All the points that people have made would all be part of a good SWOT analysis and business model.

Too many people just rush headlong into eCommerce thinking that a nice site and a few products/services are the only ingredients necessary to make money online. We've seen that this is not at all the case.

Like any market (as has been mentioned), making money online requires research, thought, effort and determination.

SWOT: Strengths Weaknesses Opportunities Threats

You don't necessarily have to employ an expensive amrketing/analysis person/company - but you do need to hammer these 4 points down:

  • What are your strengths over your competition?
  • What are your weaknesses in comparison to your competition? Knowing your weaknesses allows you to focus attention on these areas.
  • Look at what opportunities are open to you that may help you to gain an advantage over your competition and an increase in market share/sales.
  • Try to preempt any threats that you may encounter during your initial startup period, and again looking to the future.

    Remember, information is ammunition!

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