"My country has a shortage of jobs and we have severe unemployment problems. I believe the only answer is for people to start their own business, but they have little start up capital. How should I advise them?" -- Monique Broekaert, Johannesburg, South Africa

Companies that get the headlines are Dot.com start-ups with millions of dollars in venture capital. But it's quite possible to grow a good business on the Web with low initial investment -- it just takes longer. My own business is a good example. Here are some guidelines:

(1) Clearly define an Internet business niche that doesn't seemed to be filled adequately. Perhaps US-based companies are not able or not trusted to supply a need in your region -- it could be an opportunity.

(2) Develop a business plan to meet the need you've identified, drawing on advice from government resources that assist small businesses. Focus on selling goods or services as your main income source, relying on affiliate programs and advertising only as secondary revenue streams.

(3) If you don't have all the resources you need, find people in your area and form a small company, pooling your talents and capital. Use barter instead of cash when possible.

(4) Find a local designer to build a website with a professional look. Don't rely on your own talents here. Outsource design, but perform regular maintenance yourself.

(5) Look for inexpensive ways to advertise narrowly to the particular target you've identified. You can find lots of tips in my article, "The Web Marketing Checklist"
http://wilsonweb.com/articles/checklist.htm

(6) Concentrate your efforts on quality fulfillment of your goods or services in order to gain loyal customers.


Read StrikingItRich.com by Jaclyn Easton (McGraw-Hill/CommerceNet, 1999, ISBN 0-07-018724-X). She profiles 23 successful websites, many of which started with little cash. Don't be intimidated by lack of funding. Most of the quick-start Dot.com companies are actually high risk ventures that won't survive more than a year or two. With a good business idea, a precisely defined niche, careful planning, and consistent execution, low capital start-ups can be a real success.


Source: StrikingItRich.com by Jaclyn Easton