Starting online Business Q & A set 2

1. Why do you feel businesses are on the Internet?
The power of business on the internet cannot be underestimated. Businesses need that extra step to get above their competition, using the internet to do so is an efficient way of getting their company name out to the world. Nowadays, people search the web for everything, whether it be for finding a restaurant, or looking up a business report on a company, the internet helps businesses grow.

2. Share with the class your idea for an online business and what you've found in the way of competition by searching the web.
People love to laugh, wasting time on the internet, just watching funny videos, or reading jokes. The business idea that I’m going talk about is an entertainment website.
The website would be Safe for work (SFW), startup costs are low, and the plan as a whole is pretty solid. The only thing that divides the successful entertainment websites and the less successful websites is determined by your experience in the industry, and your ability to find the latest and greatest content.
There are a few ways to go about marketing the site, you own a large site already, which you can push traffic to the smaller website; this technique is rather common in the mainstream website industry. You can also purchase traffic from already established sites, in the same genre.
Competition – I see a few of these entertainment websites getting started every day, people searching around for traffic to purchase, or link exchanges to get their website started. The main thing that’ll separate you is the brand you can build, the domain name, the amount of content you add a day, and how easy it is to navigate the site.
The model – Find the latest and videos on the web, you can either host them on your own server, with a shared web hosting account starting at around $120/yr, or you can get your own server for around $100-$150/mo. If you plan hosting your own content, then you’ll end up needing your own server. Embedding videos is one the better ways to go, just because you save a lot of money, using this technique would mean you’d let another company host your videos such as YouTube, Google Video, Live Video, etc. Some of these companies will even pay you money to embed into your website, which can be another revenue source. Because the site is safe for work, you can promote programs like Yahoo publisher, or Google AdSense, which should bring in at least a few hundred dollars a day with -minimal- traffic (few hundred visitors).
If you get the funniest content out there, you’ll eventually get visitors, and it’ll grow, but only with time. Purchasing traffic to get it started is one of the better ways to get it started.
With a solid content management system, website design, good link partners, and the best content, you’re bound to make the site into something worthwhile.

3. Which one of the resources from the book would you use to help you write a business plan and if you would use another source, what is it? How will you go about finding a good local attorney or accountant to help start a new business?
A good way to get things started is to contact a local Small business Association. They can help you set it up, give you free consultations with Lawyers and accountants among other things. Another way to setup a business would be to use an online service, its similar to getting a lawyer to do everything for you, but the online way is a bit quicker. The SBA can help you setup a business plan, but you can also buy a business plan builder, I once used one to develop a marketing plan, but I’ve forgotten the name.

4. What types of payment process do you feel would be the best for your business?
On current businesses I run, I use Paypal. I’ve also used other companies such as epassport, as well as Litepay. Paypal is easy and well known. Paypal does have some issues with it, holding large amounts of money, and not giving a care with fraud related purchases. Paypal will accept all sorts of payment, however they do charge a nice % for overseas purchases.