PHP Life

Every businessman faces the problem of finding an idea for his own business. The idea which will bring a solid income and ensure the achievement of the goal set. That is why web-sites with collections of ideas are extremely popular now with both Russian and International Internet users. There are thousands of ideas presented in them! It is clear that not all of them are profitable and highly effective.

So how to choose a business idea which will provide its owner with really big money? It is quite simple in case you follow simple technique and choose ideas according to some key characteristics which are described below.

Choosing a business idea in fact means choosing a business which a businessman will carry on. It is a very serious step and it should be taken with all responsibility.

You need to choose a business so that by no means you should make a mistake as it is fraught with heavy consequences:

• Losing a big amount of time (up to several years).

• Losing money and running into debt.

• Losing wish to do business in the nearest future.

What usually causes losses (of time and money)? Mistakes do. How to reduce the mistakes? You should work in the area which is better known and where the least mistakes can be done. Which area is more familiar to a beginning entrepreneur?

• The one in which the entrepreneur worked for a long time. It’s the easiest and most comfortable way.

• And also the one which was thoroughly investigated by the entrepreneur. In this case learning will take a fairly long time.

But even if you have already chosen a certain area for your business it conceals lots and lots of variants. How to choose among them? It is very easy – by estimating the results of each variant. As a main criterion you should take into consideration how long it will take you to achieve a goal of your business. Let’s see this process in detail.

Set a goal for your business

Business goal must be specified in figures and dates, for example: by 5^th of March 2007 I must have an income (after deducting all the taxes) of $3500 a month or $40,000 a year.

Write down your skills and knowledge

I can:

• Develop programs using PHP/MySQL/Oracle.

• Install scripts.

• Find and correct script errors.

• Compose terms of reference.

• Design useful flexible classes which you do not have to redo.

• Write articles.

• Make presentations.

• Deliver seminars.

• Manage a technical support team.

I know very well how to:

• Design web applications.

• Use design patterns.

• Evaluate the cost and time for making GUI and Web Design.

• How the Internet store works.

• Promote web sites.

• Accept payments over the Internet.

• Find and select among experienced Web Programmers, Web Designers, Content Managers, and Web Promoters.

• Arrange a seminar.

I have:

• Lots of ready-made class libraries which I wrote for myself and use in my work.

• Lots of composed terms of reference.

• Several finished and already working web sites.

Write down business ideas based on your own skills

I can sell my own products:

• Classes to other programmers.

• Terms of reference to designers who learn specific examples.

• Ready-made web applications (scripts) to site owners who do not have the possibility to order their own web site development and prefer to use finished products.

• CD with the web-site software.

I can and I am interested in providing services for:

• Web Development (web application + design).

• Making classes (custom development).

• Composing the terms of reference.

• Installing scripts.

• Promoting web sites.

• Writing articles regarding programming, business, team management.

• Recruiting the technical support staff.

• Consultations on Web Development.

Write down all other ideas

Other interesting ideas:

• Buying-up/collection and resale of cardboard (MC-6 waste paper)

• Bee-keeping and honey selling.

• Intermediary services for selling expensive goods over the Internet.

• Real estate renting.

• Agent services for real estate renting and selling.

Write down strengths and weaknesses of every idea

Use the following categories for strengths and weaknesses:

• Expertise in the area

• Possibility of business dissemination (franchising).

• Time spent on the product/service implemented.

• Efforts to be made for selling.

• Efforts to be made for delivery.

• Efforts which are required for after sale (back up) service.

• Availability of established contacts.

• Known facts.

• Amount of goods/services to be sold to achieve a business goal.

• Size (largeness) of audience.

• Possibility of next selling.

Complement categories with your own points.

Make a table:

Name of the idea

Short description

Strengths

Weaknesses

Number of items to be sold

Selling of ready-made scripts

The script is made only once and then any number of its copies can be sold without spending money on it.

No expenses for making a script.   No expenditures for shipment.   The process is known in detail.   Net income=80% if the script price is $20-$500.   Audience is very large (millions of people)   Possibility of scripts upgrades, i.e. in fact next selling.   There are established contacts engaged in this business and ready to share their experience

It is impossible to use keys as the source code is distributed.   Designer needs to be employed.   Internet promotion takes a lot of time and efforts, so specific tools are needed.   There are problems with receiving payments in Russia, but they are solvable.

In case the price of the script is $20, 8 scripts a day should be sold. If the cost of the script is $100 you should sell 1 copy a day.

 

 

Choose a business idea with most of strengths which allows you to achieve a business goal

So, the following ideas drop out:

• Buying-up/collection and resale of cardboard (MC-6 waste paper)

• Bee-keeping and honey selling.

• …

These ideas are relevant:

• Terms of Reference.

• Ready-made scripts.

• …

The best idea:

• Selling of ready-made scripts – it enables to achieve a business goal in required time and possesses most of strengths.

Summary

• To choose a right idea, collect ALL the business ideas which crossed your mind and then point out their strengths and weaknesses.

• Choose only those ideas which give feasible results.

• Feasible results are those which lead to achieving a business goal.

• Pay attention to ideas which are based on your own knowledge and skills.

• Therefore the selected idea will allow you to escape big losses of time and money in the process of establishing your business.

I chose the idea for my own business. I will sell ready-made scripts and libraries of classes. What about you? This will not take a lot of time.

In the next issue I will show you how I am going to achieve a goal of my business by selling ready-made scripts.

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