Fernald Business Association

Have a small business idea for producing an online income?

1. Before jumping into any small business idea or online business opportunity, it’s important to determine that an actual “need” for your product, service, or information exists with your target market.

2.If the market is saturated with too much competition, or there simply isn’t a demand, consider another online business opportunity or be able to offer a unique selling proposition and marketing angle.

3. Marketing and sales is a rough business. Market studies determine the products that people will buy, show product movements at given periods of time, and give information about potential competitors. For example, if your small business idea is a potential food product targeted towards working mothers, it would be helpful to learn about their purchasing behavior.

4. Start with broad categories. Starting a small business requires determination, motivation, and know-how. Start by thinking about all the products and services you regularly use. Have you ever said something like, “If only that widget had a _____, it would be so much easier to use”?

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