Rational Questions You Need to Ask Before Setting Up Your Online Biz

Discussion in 'BlackHat Lounge' started by BassTrackerBoats, Aug 15, 2013.

  1. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

    Mar 10, 2010
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    As Close to Heaven as One Can Get!
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    It is easy to jump into setting up an online business (that includes passive income sites) because of the simplicity of the internet for most of us but one should ask a few questions and answer them frankly and honestly before stepping out in that arena. I have a few below and I am sure that you have others as well.

    1) Is your business idea realistic from the point of view of people that are in your support group as well as outside it? It is important to get more than one point of view in order to get REALISTIC and OBJECTIVE comments on what you want to accomplish.

    2) Is your business going to fit into your long and short term business goals? When entering into a business arrangement be sure it fits your skill set and mind set. I personally have turned down business opportunities that would have made money but were not part of my overall goals and vision and also those that did not fit into my skill set.

    3) Is your business going to cause unreasonable conflict? Starting a business that is going to be an issue with your immediate family (SO for most of us) is generally part of a recipe for negative consequences. Be mindful of your family's thoughts and also be mindful to not get involved in a business that would cause conflict with a friend that may be in a competing business as well as one that could cause negative consequences with their friendship.

    4) Did you come up with this idea when you were not trashed? Sometimes when we are under the influence we think we have an idea that could set the world on fire and then act on it... I've done that with a bunch of web sites myself. I would think it was a good idea because I had a few drinks in me and was not thinking rationally. If you come up with an idea while you are trashed, write it down and don't act on it until you are sober and have had a chance to do some due diligence and rethink the idea. It may well be an OUTSTANDING IDEA but you need to make sure in a sober mindset.

    5) Is starting and running this business going to be a strain on your physical health? Are you taking on a project that is going to cause you too much stress or make you lose sleep because you are now working too many hours? Stress is a killer and we cannot avoid it but you do not want to go over the line in the stress arena nor do you want to take a project on that is going to cause you to work a zillion hours a day (I'm PLENTY GUILTY of that but am working on changing) as that is generally not good for one's health.

    OK, Folks, there you have some of my ideas and thoughts and I hope to hear some of yours as well.
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  2. TheGreyMatter

    TheGreyMatter Jr. VIP Jr. VIP

    Mar 23, 2011
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    Those are some really cool tips. Glad to see you back in action BTB! +rep added.
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  3. dgfalk

    dgfalk Power Member

    Apr 26, 2010
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    LOL, This has happened several times while me and my buddies were drinking. I've even bought some domains thinking oh ya this is gonna be a hit. Then I wake up the next day and see the domain recipe in my inbox and am like, WTF was I thinking, that's the dumbest idea ever.
  4. nanavlad

    nanavlad Elite Member

    Dec 2, 2009
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    Proxy Central
    I think its part of the learning process.

    Its ok to make mistakes once you learn from them.
    Sometimes you need to try it to find out your short comings.