Too often new business start-ups spend their early stage resources on websites design, logos and corporate identity.  Of course these things are important, fun and give you a real sense of identity. However, before you even think of spending any money or time doing so, you should evaluate your idea. Make sure you do a reality check on how you can commercialise your business idea and at what cost.

Here some factors to consider:

1. Is your business idea / business model truly unique. If not can you improve on the existing business models?
2. What are your USP (unique selling points)?
3. Are you entering a market which is mature or growing. Either way, will the challenge for your business be a different one?
4. Where will you get your business leads from and at what cost?
5. Have you had an independent view on your business model, other than approval from friends and family?
6. Have you checked out size and sophistication of your competitors?
7. How long can you run your business on zero income?
8. Will your business model still be required in two years time?
9. Is your business satisfying a consumer or business need or are you just realising your own dream?
10. What ongoing time commitment and capital will you require to run the business for the next two years?

We hope the above list will get you thinking and planning before you even spend a penny on business collateral. Remember logo / website designs come fairly cheap these days but they are still a waste of money if you do not have a business model.

Filed under: Search Engine Optimisation, Web Business Advice by admin