What are the income and sales tax implications for an online business such as Amazon Kindle and FBA? Online businesses come with a number of benefits when it comes to sales and income taxes primarily because of the internet-based ecosystem of tools and platforms. While income tax is collected both at federal (IRS) and your […]
What are the most fundamental economics principles that apply to an online business? Economics 101 apply as much to online businesses as they do to their offline counterparts. These are the tried and true principles that you need to keep in mind before you start an online business. Let me summarize. Your time and energy […]
What is the life cycle of building an online business? Life cycle of an online business starts with a niche market. You need to identify a profitable niche market, with just the right level of competition, price, segments and future potential. Niche market doesn’t have to be your passion, however aligning it with your passion […]
How do I choose an online business model that’s a fit for me? There are at least seven factors that you should take into account before you jump into a new business and select your business model. Don’t start a new business for wrong reasons, you don’t want to start a business because it worked […]
In 2018, what are the main online business models and offers that out there that I can try? There are plenty of business models and tactics that can be used today to start an online business, however you need to find what’s most suitable for you given your passion, talents and market value that you […]
What are the key differences between a startup and a small business? Failure is one metric where small businesses and startups converge, i.e. about 2 out of 10 businesses fail during the first year, likewise 9 out of 10 startup fail. Let me summarize how the two differ. Small business are generally funded by the […]
What are the examples of successful online businesses? Amazon.com is THE ultimate example of an online business with over 300M users worldwide. It also happens to be about 99% automated. Other examples of online businesses include ebay.com, Zappos.com, Udemy etc. As per statista, In 2017, an estimated 1.66 billion people worldwide purchase goods online. During […]
What is a niche market and how is it related to online business? As someone said, “You want to dig your well where you have the best chance of finding water with the least amount of digging.” Niche market is a small and a specific segment of a bigger market where needs and wants of […]
What are the top reasons I should pursue an online business? First of all, you need to figure out why you want to start a business, online or offline. Why is that important? It is crucial because starting a business is full of unknowns and that requires strong commitment and perseverance. Figuring out your WHY […]
I thought it would be helpful if I take some of the top questions that have been asked about the internet or online business and share my take on each of those. In my answers, you will find both strategic or big picture as well as short-term and tactical information that you can put to […]