Question by : What online business should I start?
I am 26 and my husband is 28. We are both college graduates (from Purdue University). We have about $ 50,000 (if necessary) to invest, but we live in a small town where new businesses typically “tank”. We are starting to explore different entrepreneurial ideas and online business options. Does anyone have a good sucess story or can think of a good business to start online?
Answer by Henry
You are the only one that can figure that out as every situation is unique. Find an unmet need that is also something you like to do. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis http://www.businessballs.com/swotanalysisfreetemplate.htm and write a business plan to prove that the business idea is workable. Go to http://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.
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