In the first week of Web business class, we learned how to choose a business. To start the business we need to choose either, business model or choose product/service. In my opinion, when people start the business they need to choose what product or service they are going to sell/perform. On the other hand business model is also important, but it doesn’t have to come first then the choosing the product/service. On the link that was given in our class about “business models on the web” It describes “The business model spells-out how a company makes money by specifying where it is positioned in the value chain.” The product is something we sell and business model build to make revenue. The basic categories of business models such as Brokerage, Advertising, Infomediary, Merchant, Manufacturer, Affiliate, Community, Subscription, and Utility. If we don’t know what product we are going to sell, we don’t know if we are going to be Broker or use Brokerage or what product are we going to Advertise and do Infomediary on etc… Reference: Business Models on the Web & BizThoughts Brainstorming Business Ideas
When we learned about using a keyword planner, it narrows down what is our product going to be and also, it specifies the what and who we are going to do with our products. Reference: https://adwords.google.com/home/tools/keyword-planner/
How to find Supplier
There are so many websites that do Manufacture, Wholesale and Broker. To start the business we need to find the supplier unless you are going to make the product all by yourself. When you search the supplier there is so many around the world. Some Manufacture they send you a sample for you to look at and have their info with product details. When I look for a product I would look for these things price, shipping price, quality, product design and reliability of the seller.