Small business agony uncle James Caan tackles the problem of starting an online business.
Dear James:
I have an online start-up idea I believe is truly disruptive and innovative, but I don’t know where to start with a launch. Can you help? - Alex
James says:
Apply the same principles you would with any business idea. Research the market. What are the growth prospects and what trends are emerging? Look clearly for any inefficiencies in the market — every business should solve a need.
You say your idea is disruptive, but it must be something that adds value. I recently invested in online estate agency eMoov, which enables people to sell their house at a fraction of a High Street agent’s fee. The key was the founder’s vision of putting customers first, and offering a more affordable fee while still delivering a reliable service. You must focus on how well you will win over customers.
Businesses need a unique selling point and a disruptive business can differentiate themselves clearly. But remember that as you are providing something different to what the market is offering, in the initial stages you will have to work extremely hard to develop your brand.
Finally, look for partnership opportunities as this will help accelerate your growth.
James Caan is looking for top talent in the recruitment space. Find out more at www.recruitmententrepreneur.com
