This week was very difficult for me. I have never thought that starting a business required so much research and planning. I guess that’s really the secret ingredient and what would make the difference between a successful business and one that will die in a couple of months.
Some of the things I learned this week are:
- There are many business models that fit any online business. It’s important to know them, study them and see what best fits the business that you have in mind.
- You have to find your passion, your strength, and what’s more convenient for you when choosing a business, you can’t just copy what other people are doing because it might not work out the same for you.
- When deciding on your business think on multiple possibilities, don’t close yourself to just one. Also, consider how much time do you have? How much money can you invest? What do you know about this business? Is there a gap that needs to be filled? Have you noticed a service that doesn’t exists that could work in your area or social circles?
- Google Ad words it’s a powerful tool for any business even hypothetical business like the ones we were trying to analice this week at class. I never thought that we could use google ad words without setting up an account. This week, we used this tool specifically to analice demand and competition and how they can affect visibility and success of the business.
- The business suggestion I received after completing all the assignments and the excel sheet surprised me a couple of times in different levels. Some business made more sense in regards of demand, cost, profit potential or time. At the end, when taking all the factors into consideration, there is one that stood out the most and I’m glad it did because it helped me clear my mind.
Miriam Aguirre 