Narrowing Down Business Models

Narrowing Down Business Models

Online Store, Drop Shipping or Affiliate Marketing | BYU-I B 250 – Lesson 03

As I advance in my Online Business Course at BYU-Idaho Online, I get more impressed with the strength of the course. The course is loaded with information. We have a lot of reading related to a lot of different subjects, and that is of course very demanding. Honestly I worry about what I am being able to absorb. I worry that I need to retain more content than I am currently doing.

But I am very excited with the course. I am especially excited with the idea of ending up with a real business at the end of the course. The model of the business is a matter of great concern too. I have selected some important criteria already. Due to my physical businesses – I own a small private English School, an Aerial Video Company, and I also offer publicity-related service to my father-in-law’s company – I need to choose a business model that doesn’t demand much time of my life, I wouldn’t be able to spare much time to it, since I plan on continue studying the semesters to come. And yes, I do intend to start a business that I can continue managing after this course is done.

A second important criteria is that I want the business to make enough profit, that it’s worth keeping it. I really don’t want to “waste” 3 months planning and putting a business together, only to give it up after the course is over. But for that to become real, the business needs to provide some profit, it needs to be worth the amount of time that I am going to invest with it. I know this criteria is tough, it depends a lot on my creativity and inspiration, but I will strive to achieve it.

The least criteria is optional. I would rather have a business related to something I already do business with (English, Video/Photography and/or Publicity/Advertisement). If it becomes to hard to achieve this criteria, I hope I can at least find something related to things I am passionate about, things like the nerd/geek culture, music or films in general.

Because of the subject we were studying this week, I believe I already eliminated some options. I don’t want to work with Affiliate Marketing, I don’t think there is going to be enough profit for me there, and I don’t want to create a website that requires me to create a lot of content.

I also don’t think an online store is the right move. I like online stores, I know they can give a lot of profit, and also good business experience. But I can not afford the amount of time that an online store would require. Just thinking about the shipping part of the process scared the heck out of me.

Drop shipping sounds as a very interesting idea. You don’t need to have a stock, and I wouldn’t need to worry about shipping the profits. The only concern I have here is whether I would be able to work with Drop shipping living in Brazil. I don’t think I could do that for Americans, since I wouldn’t be able to open a business bank account and etc. And I am not sure it works properly in Brazil, so I need to do more research on that.

Anyway, I believe there is a lot work and research to be done yet. I am worried that I don’t have my online business idea yet, but I am hoping that is only normal. I hope the next week helps my mind to make a proper decision.

Until then, let me keep on working.