Questions

Good day, guys, I have been on my career path for 20 years. I recently wanted to start a simple online business and I am settled, for the time being, in my home country of Egypt which should be taken into consideration. Thanks in advance.

Hi,
The good thing about an online business is that it's location independent. However; the basics of building a business still apply.
These are the most important:
1. Good - growing businesses are the ones which solve a problem. e.g. I need organic eggs in my area, but can't get them.
2. The need / problem to be solved is shared by a large enough market. e.g. Those who need organic eggs delivered to their home are not 1% of the market for online shoppers but a decent chunk.
3. You design a solution, thinking MVP. (research what an MVP is if you are unfamiliar)
4. Test out in small groups, do customer interviews. i.e. validate your idea - confirm the market really responds to it.
5. Invest more of your time, energy, money to building.
6. Keep iterating.
7. Solve problems and focus on execution quality.
8. For all of these, you need to read and research obsessively around this topic.

Wish you the best of luck.


Answered 5 years ago

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