Comments on: Top 10 questions to ask yourself before starting an online venture

By: Rakesh

Rakesh — Mon, 16 Nov 2009 11:13:43 +0000

can anyone please answer me, wat is the Goverment procedures to start a E-business that is internet business in india. I mean taxations,…..like these, can anyone please suggests me.

By: Want to know where your competitors are advertising? Try (!)Yureekah | Indian Startups In News

Fri, 02 May 2008 15:33:46 +0000

[...] Top 10 questions to ask yourself before starting an online venture [...]

By: Tushar Chothani

Tushar Chothani — Sat, 22 Dec 2007 03:11:04 +0000

It looks perfectly well for the begginers like me. I think all the steps, if taken might even bring out some new option to do the business.

In between, you had asked what the readers will like to see at your trak.in, I would just like to know, if i can earn some extra-bucks working from home for 2 hours daily after my usual chores. And it would be far more better that it does not have any costs invovled, other than internet and time clauses.

Awaiting to hear from you.
Regards
Tushar

By: Sandeep Balaji

Sandeep Balaji — Mon, 15 Oct 2007 09:21:51 +0000

Great posts.
Some of the additional points that i felt the need to consider before launching my start-up (www.Qiu-inc.com):
1. Overall business model and its long term competitive advantage – I feel this is of high importance especially in the online space
2. Leadership skills that the founders bring to the table – Management and other relevant experience is bare minimum – How can you go beyond that and motivate just not yourself and the rest of the team you will build
3. Fear of failure – Its keeps you on your toes and the paranoia drives you to over deliver. I think this is a critical ingredient to any start-up making it big.

Thanks and Regards,
Sandeep Balaji
http://www.Qiu-inc.com

By: Jay

Jay — Fri, 12 Oct 2007 11:12:37 +0000

Lets Do It !!!!!!

This is what the first thing comes to my mind when I read your post.. The idea is very good but you have to think out of the box as you decided to enter in the field that is overflowing with competition. Day in n day out you have new entrants in the market.. So being highly innovative n enthusiastic is the key to such success. However, I just want ask u to be more cautious for the following:
@ Make strong plans regarding your cash inflows (which will be at the later stage) and outflows. Calculate your pay-off period.
@ Be sure of your contingency plans.

You can also take help from a professional incase you want to approach any investor to invest in your business
I think this can be of some help to you
Visit: http://www.pitchindia.com

Wish u luck!!!!!!!!!!!!!!!!!!!

By: trakin

trakin — Mon, 08 Oct 2007 13:51:00 +0000

@Sundarram…thanks for your comment and I sure need those forces to be behind me. The frequency of a startup going down are much higer. Do you know what it is…for every 1 successful startup, there are more than 350 that fail….Now, isn’t that alarming…:)
@Avinash, excellent points made….and thanks for the link. I will surely go through it.
@vishy, yes..that is an important point….One should be very clear of what to do with your online startup(in the end)…Are you looking to acquired…or do you want to run that company till the end…
@FM, thanks for your frank opinion. Being a regular reader of this blog, I can see your point. These kind of topics are quite subjective. The dynamics of having a startup have changed. Like I mentioned earlier, people come up with their online property (startup), within a few days ..without giving much thought to any of the questions mentioned above. These questions are basic, but more often we miss those in the first place. Also, as these were some of the questions I have asked myself, and this is an representation of that in a very brief manner.
@Sumedh, Sure I will meet you when I come to India…

By: Sumedh

Sumedh — Mon, 08 Oct 2007 10:05:10 +0000

Good post…I can certainly empathize with all these…

Itching to meet you…

By: FM

FM — Mon, 08 Oct 2007 08:44:59 +0000

well,
you could have wrote this post well, frankly.
this looks like some advisory to freshers.

p.s. i’m regular to your site, somehow not every post seems as juicy as most of them are, this one is chewy, I’d say.

By: Vishy

Vishy — Sun, 07 Oct 2007 12:18:05 +0000

Great post trakin….the fact remains that when someone is starting a venture, thousands of question go thru their mind. But I agree with your top questions…additionally you should also ask yourself if you are in there for long term or short term….Are you going to make sell of your venture as is the trend nowadays or run your startup lifelong…..

By: Avinash

Avinash — Sun, 07 Oct 2007 07:31:28 +0000

Hey nice post Arun….thought the following would be useful to add to the above list
a) Revenue Model for the business (especially since most services are available for free). The following link is useful in this regard…http://digitalenterprise.org/models/models.html
b) Is there a possibility to create IPR with the online venture…this ensures sustainability
c) Age profile of the the target audience….the younger crowd moves faster than the older crowd given their willingness to experiment
d)Will I have a first mover advantage in this space?

Its always a pleasure to see someone succeed…all the very best for your new venture…

By: Sundarram P.V.

Sundarram P.V. — Sun, 07 Oct 2007 05:04:43 +0000

oops!! some html got blocked!!
the reason I was talking about is number 4.

By: Sundarram P.V.

Sundarram P.V. — Sun, 07 Oct 2007 05:03:17 +0000

Some times, people do get into the paralysis of analysis mode by doing business plan and all the other stuff before they actually start-off. If the reason for starting is not , then i don’t see any reason why it should be stopped. Best would be to build a proof of concept prototype and then do appropriate planning after that. We all know from experience that what we visualize in the beginning is not how it turns out to be in the end.
This just my view.
All the best for your venture.
May the force be with you!!!

By: trakin

trakin — Sun, 07 Oct 2007 04:37:33 +0000

IndiaBlogger,
Thanks for your thoughtful comment, however, the subject matter for this post is different. It is “Top 10 questions to ask yourself before starting an online venture “..This is something that you will do before you even make a business plan…
and…thanks for the wishes….

By: Indian Blogger

Indian Blogger — Sun, 07 Oct 2007 03:22:04 +0000

Hi,

I think you have missed out something I personally feelis very important ie ” Have you put your thoughts on to the paper”. I am referring here to the business plan document. There is a hell lot of difference between putting your thoughts on a napkin while sitting in a cafeteria versus taking the time to actually point out all minute details about the business plan. A thoughtful business plan document would have everything – market analysis, competition analysis, revenue projections, phase wise growth, human resource identification and most importantly an exit strategy. A well drafted business plan document is very effective in getting clarity of thoughts, evaluating a “what if ” analysis, and for communicating with a VC, Bank or with the partners in your venture.

Good luck on your start up.

By: Anonymous

Anonymous — Sun, 07 Oct 2007 01:14:19 +0000

Top 10 questions to ask yourself before starting an online venture…

So you are on the verge of starting your online venture ? Are you in two minds? Read on…..