Internet Business Part II
Developing Your Business Idea
In the first part of this exercise, imagine that you operate a business and are planning to sell some of your products and services over the Internet to your customers.
First, describe your business in a few sentences. This could be any business that interests you. To help you, think of the products you would like to make or sell (Try to think of 2-3 products or services they may be related). As an example, if your business is a sporting goods store, then your products and services might include shoe sales, equipment repair, and uniform design and stitching. Be creative think of what you enjoy doing and turn it into a business opportunity!
To help you through this process, Complete the following information below:
1. Business Owners (your name) _________________________________________
2.Name of your business: _________________________________________________
Think of a creative name for your business
3. Your business web address URL: http:// ____________________________________
(Note: This is a made up address)
Verify that this address is available (someone does not already own it) using godaddy.ca, www.internic.com, register.com or a similar site
4. How much will it cost to register your business URL for one year? __________________________
5. Description of your business:
6.List 2-3 specific products or services that you wish to sell:
Product or Service #1: __________________________________________________
Product or Service #2: __________________________________________________
Product or Service #3: __________________________________________________
7. Your next step as business owner is to write down who you think would most likely buy your products and services. This is your "target market".
Hint: To do so, describe your market by answering the following questions in 1 sentence each:
a. Are your products aimed at a certain group of people? (Try to think of what particular needs your products or services meet)
b. What age groups (children, teenagers, adults, the elderly) do you think would be
most interested in your products or services?
c. Do you think that your products or services would be most popular among
families, or perhaps individuals living on their own?
d. How much do your products or services cost? Do you think your products would be affordable for most people or do they tend to be expensive?