Business launch ?

On several occasions with my friend and room mate Adrien we have thought of setting up our own online business. Last year we launched a custom made “High yield investment program monitor” website. Unfortunately even though our site was better made & designed than competitors it failed because we did not have enough funds to advertise it. We also created a Hyip script (Pro Hyip Script) which we still have and which we are thinking of selling soon.

Yesterday, i received a phone call from Adrien telling me he had found a new business idea ! I listened to him and must admit that i agreed with him regarding the potential of his idea. In fact his idea is based on a website concept i had launched last year but which had to be closed down for legal reasons. Unfortunately i am unable to give more details about it for the moment as we do not want people or competitors to steal our idea.

Nevertheless here are a few key elements we think are essential for students to create a fast successful online business:

- Privilege offering a service where your website is a platform where you put people in contact with each other in order to have a growing community. This is the best choice as your costs will be reduced as you will only have hosting to pay, and no local, stock or material costs.

- Make a business plan and send it to potential investors that would be willing to help you start your business. Another solution could be to ask the IT company creating your platform to invest in your business if they think it is worth it.
- Make sure you have enough funds available to launch some small advertising. Take into consideration the competition.

- Dont get upset if you do not respect your timetable objectives, it always takes you more time than you initially thought. Better spending more time and having a better product than trying to speed things up.

- Study carefuly competition, your target and try to adapt your product to the demand. The service you are offering is the clue to your success so make sure it has a potential by studying the market before.

- Make your platform clear and simple. In order to reduce costs, think about using low cost indian IT companies which do excellent work such as Agriya Infoway Ltd.

I hope all of this information will be usefull for you if ever you decide to launch a business. I will also keep you informed about our brand new business idea ! Stay tuned !