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Old 11-08-2007, 06:50 PM   #21 (permalink)
mlc82
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Join Date: Mar 2007
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Quote:
Originally Posted by qed View Post
You don't want to turn into a lemming though!

Going out on your very own works for very specific cases. The requirements are:
1) Information product (i.e. easily digitizable)
2) Create once, sell infinitely many times (no service; product must be digital)
2) Very little to no customer support
3) No inventory
4) Fast, easy and cheap distribution (the internet)
5) Low startup costs

The following businesses fit nicely with this model:
1) Software
2) Writing (books, blogs, e-books)
3) Music

However, note that working in the digital medium is not enough. For example, web development or any other "custom job" type of businesses aren't ideal because you can't create them once and sell infinitely. For each, you start from scratch (unless you can sell the templates maybe)

And even software isn't ideal because:
1) It is rather complex to create (especially on your own) and hard to manage this complexity
2) Customer support takes a significant amount of time

Even if you don't have all the requirements, you can probably still do very well for yourself. You just have to factor in what "value" is for customers (ie what people want/need), who is already out there serving this value, how are they doing it, for what price, how effectively, etc..
Oh I'm not trying to start any kind of computer/web based business, I'm about to get started with own personal training/fitness/nutrition self employment though, and am pretty excited I may make a post here for advice in the business section soon.

I do have some ideas for some fun websites to create as well, but just for fun, not planning to make any money off of them really.
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