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Which online business idea should I do?

Hello. I would like to start an online business over the summer. My goal is to eventually make six or more figures a year. I have two ideas which I think could be really profitable. The problem is, I was quoted 40-50 thousand to make each site. I just dont have that kind of money to even build one site. I will list the ideas below, and could you please tell me which idea you think is more profitable. How should I go about building the site? Should I hire someone on craigslist, rent a coder, etc.? Or should I try to build it my self? What should I use? I dont know programming or coding or web design. 1. My first idea is a website where users can submit original songs and other users can listen, rate, comment, share, and chat with other users. Users could also create a page where they could post info, and find new band members. I like this idea since the only competition is www.purevolume.com. PureVolume is making $300 a day! If I make a better site, why can't i make that or more? I would sell ad space on the site. Accounts would be free, but if the site became big enough, I would create a pro membership that costs money in addition to the free account. If you think this idea could be profitable, how should I go about creating the site? I got quoted 40-50k to build by a web design firm. Should I use Kickapps which lets you create a social network site where user submit content (videos, MUSIC, videos etc.) for a small fee? Should I hire a developer on rent a coder? 2. My last idea is a website where users could post, list, sell, buy, auction, and trade websites. An ebay or amazon marketplace for websites. Users would post the site link with info and a snapshot and price, and other users would buy the site if they wanted to. I would take a small 4% commision from the sale. I would also sell ad space on the website. This website has some competition such as websitebroker.com, flippa.com, and sitepoint.com, but the potential is huge, and there is room for another player. If you think this site is profitable, how should I build it? Should I hire someone or build it myself. If build it myself, how should I build it? I really want to make one of these websites with as low startup as possible. I know I would have to market like crazy and do site matinence, but please help me. My parents think i should do a business like normal teens where you mow the lawn, babysit, etc, but I really want to do online business and hopefully make a good living. I think my sites ideas have potential. Which idea should I do? Which idea is more profitable? Even if you think they are not profitable, which would you choose if you had to? How should I build it? Thanks! PS, I am becoming a dealer at Kaeser and Blair and selling promotinal products to get me some startup cash for my online companies (websites). Thanks!!

Public Comments

1. Both are great ideas, but you need to know how to market youre business. How will you get people to come to youre site? If I were you id spend the summer babysitting / mowing lawns and the winter on youre possibly profitable business ideas. It costs a lot of money to start and run websites and you can lose money if you dont know what youre doing.
2. One things to consider is you listed things that have already been done and are extremely successful. These are markets which are largely occupied and unless you have a lot of cash to put in this it won't work.
3. I see you are very ambtitous. To say true the technical aspects of web sites do not matter. The most important element is "marketing", that is, profitability of your web site. If your web site does not yield profits it is "stuff" even your web site is perfect in terms of attractivenes and technical parameters. Here I would like to ask you how you are going to get people visit your web site. Ask yourself "Why should visitors come to my site?". From my point of view your ideas are not innovative. I am sorry for criticizing you but in order to enter the market you should propose ideas your competitors do not. If your web site does not differ from your comeptitors' you are going to fail. Be sure of that. So what you need to do righ now is to sit and think. Look at market carefully and you will see that most of consumers' demand in Internet space was not satisfied. There is huge gap to be filled. Actually Internet is a great tol that offer excellent opportunities for business. Before Internet used to be a means of communication but in our days it has laready replaced conventional mass media. At present it is challenging TV. I invite you to join me to discuss Internet business. I am from Kazakhstan and specilized in Internet marketing. MY e-mail: kazakharab@yahoo.com Skype: magripa59