Internet start-up

[JMitchell]

Since I have no income, no assets, no nothing, and the country that I live in -Romania-, has insanely high barriers to entry for "real-life" businesses, my only shot for now at making some money is to start an Internet venture. I can write some code myself, I can get free hosting and domain names -- 0 $ would be needed!

I'd like to create a website where people learn about nutrition. The big question is how can I monetize it. Consider that most Romanians don't carry credit/debit cards and use cash only. This means that I cannot sell anything at the beginning; bitcoin isn't popular here so that's out of question as well.

I'm left with affiliate marketing and advertising. Does this sound like a sensible idea or are there other avenues (that don't require the customer to make any payments) for making money off an Internet start-up I haven't considered?

I assume that best strategy to make money off of a website would be to grow it to have lots of visitors and then liquidate.

Any advice is welcome! Thanks.

 

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[theag]

Spend some time reading here and MJs book, all these questions are answered approx. 10000 times.

 

[SeanKelly]

approx. 10000 times.

Correction... 100,000 times.

 

[JMitchell]

While it's true that some users have addressed questions similar to mine, I think it's necessary to take into account that they are U.S.-centric. I obviously have some major constrains to deal with and general advice that applies to start-ups in the U.S. doesn't necessarily work in my case.

 

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[Deon]

You want to start a nutrition website?? Tell us more about it... I'm a big nutrition and health fan and I think there are already too many very good websites to follow... How are you planning to be different or better? What will you do better to make people want to come to your website??

 

[JMitchell]

You want to start a nutrition website?? Tell us more about it... I'm a big nutrition and health fan and I think there are already too many very good websites to follow... How are you planning to be different or better? What will you do better to make people want to come to your website??

Well, there really aren't that many quality websites about nutrition in the market where I want to operate in; I believe that my competition is slim. What I want to do is to offer dietary guidance based on evidence and science, which is what no competitor of mine's doing.

I don't want to start off by thinking that I'll make bank with ads & affiliate marketing because I want to be the driver, not the passenger of my business.

But I also can't start off by selling something because the online payments market here is practically dead. Most people only use cards to get their paychecks.

I'm in a rut, guys, help!

 

[Talisman]

You might have to sell outside of Romania then, is the simple answer.

Build your site, provide heaps of value, get peoples email with a "14 ways to increase your nutrition today" ebook, and then upsell either a product, or a detailed 100 page book of nutritional living. Or something.

Pretty Internet 101 sort of stuff.

 

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[JMitchell]

If I want to sell and outside Romania, I'd need to create a legal business entity. In Romania that's uber-costly, and I'm broke. And incorporating in another country is still not an option.

I feel like I'm really left with no options.

 

[Ivan]

If I want to sell and outside Romania, I'd need to create a legal business entity. In Romania that's uber-costly, and I'm broke. And incorporating in another country is still not an option.

I feel like I'm really left with no options.

Take a few days to figure out what works and what's popular in the US and make a Romanian version. It's not the sexiest business model, but it's simple and it works.

 

[MNentre]

Do you have access to paypal? You shouldn't have to have a corporation for anything yet.

Go to Fiverr and get some work on there. Your english seems very good, I'm sure you could write some articles or about 1 million other things to make money.

 

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[JMitchell]

I don't have a Paypal account and I'm wary of using their services because apparently they often screw over non-U.S. customers.

I also consider starting an online proofreading business in Romania. What's the best way to monetize it so as to get rich quick? I'm thinking either a subscription or a hefty one-time fee...

But then again, a proofreading business isn't exactly a fast lane business because it doesn't meet the Time criterion, right? I couldn't divorce my time from my business.

 

[MNentre]

You're going to need a paypal account at a minimum if you plan on making any money. Also, there is no get rich scheme, especially in the proofreading business where time=money.

 

[XOthermic]

I'd like to create a website where people learn about nutrition.
.

Dude Nutrition is such a broad topic. Pick something niche that you personally care about. Trust me I've worked in the nutrition industry. All good companies or blogs/sites have their niche. It might be a new form of super soluble amino acids, in home training dvds on legume and lentil cooking, bullet proof coffee with coconut oil to increase absorbtion or it might be dual-chambered shaker cups like those at hydracup dot com for pre and post workout drinks. What I'm saying is find something you can talk about from a different angle then anyone else (proprietary) and you'll have people throwing money at you. If you don't your voice will never be heard in the dismal online marketing banter about "general nutrition".

Best of luck man
-rob

 

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[JMitchell]

What I'm saying is find something you can talk about from a different angle then anyone else (proprietary) and you'll have people throwing money at you. If you don't your voice will never be heard in the dismal online marketing banter about "general nutrition".

Thanks for the advice, Rob. I won't, however, get into a content-based business(e.g., blogging about nutrition) because to monetize it I'd be at the mercy of advertisers and affiliate marketing; I want to be in the driver's seat.

I came up with a neat proofreading gig, but I realized that if I sell my services personally, I can be held liable and lose everything I own. In other words, I need to create a buffer between me and my business, which is what a corporation, S-Corp, LLC or whatever does. Problem is, I don't have the money to incorporate. So I can't sell jack squat.

No selling, no advertising & affiliate marketing, no other way to make money with an Internet business, or am I missing something?

 

[Vigilante]

What's the best way to monetize it so as to get rich quick?

When you find the answer to this question, please let me know.

 

[Vigilante]

Tourism in Romania focuses on the country's natural landscapes and its rich history. The number of tourists is growing every year and tourism is becoming an increasingly important source for Romania's GDP with 7-9 million people now visiting yearly.

Romanians have no money... but tourists? They (by definition) have plenty of money. What can you do to add value to some of the 9,000,000 people that may visit Romania in the next year?

Two-thirds of all major trade fairs from Central Europe are held in Romania, and each year they attract 2 to 3 million business travelers. JM --- 3,000,000 business travelers? What do they need you to do for them before, during and after their trip? And, they're attending trade shows, right? What kind of businesses service trade shows? What do manufacturers that participate in trade shows need?

You need to take a look around you. You're focused on what Romania doesn't have. Focus on what YOU have to offer. The needs are all around you. There is money FLOWING in to Romania.

In the year 2006 alone, 14,122,798 tourists vacationed in Romania. The total revenue was $4.2 billion and with an average expenditure of $679 per tourist.

JM... change your focus. Don't try and dream up how to make money where no money exists. Instead... you go to where the money is and figure out how you can trade value for some of it.

 

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[JMitchell]

Vigilante, thanks for the tourism suggestion -- it's a great idea!

There are a handful of established tourism websites out there and, honestly, I don't know how I can offer better products than them or come up with something innovative. I'll keep thinking about this though!

 

[Vigilante]

 

[JMitchell]

That's what I was thinking when I wrote the post above yours! I didn't say that I won't try to find some tourism opportunity because somebody's doing it now, but that I don't know how I can deliver a better product than what's already out there.

 

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[100k]

Tourism in Romania focuses on the country's natural landscapes and its rich history. The number of tourists is growing every year and tourism is becoming an increasingly important source for Romania's GDP with 7-9 million people now visiting yearly.

Romanians have no money... but tourists? They (by definition) have plenty of money. What can you do to add value to some of the 9,000,000 people that may visit Romania in the next year?

Two-thirds of all major trade fairs from Central Europe are held in Romania, and each year they attract 2 to 3 million business travelers. JM --- 3,000,000 business travelers? What do they need you to do for them before, during and after their trip? And, they're attending trade shows, right? What kind of businesses service trade shows? What do manufacturers that participate in trade shows need?

You need to take a look around you. You're focused on what Romania doesn't have. Focus on what YOU have to offer. The needs are all around you. There is money FLOWING in to Romania.

In the year 2006 alone, 14,122,798 tourists vacationed in Romania. The total revenue was $4.2 billion and with an average expenditure of $679 per tourist.

JM... change your focus. Don't try and dream up how to make money where no money exists. Instead... you go to where the money is and figure out how you can trade value for some of it.

That's what I was thinking when I wrote the post above yours! I didn't say that I won't try to find some tourism opportunity because somebody's doing it now, but that I don't know how I can deliver a better product than what's already out there.

Most tourists will have smart phones with them, why not exploit that? Make a guide app for them to use on their smart phones.

You could for example find out where the most popular tour buses go, then make an app that covers all those locations/tours and sell the app for like $1.99. and work out something with those tour companies and say you will split profits 50/50 with them for every sale that is made. That way they can recommend your app on the tours and put up posters etc. everyone wins.

You get 1m downloads you make $500k / year.

Obviously all of that is just theory until its put in to action!

 

[awkwardgenius]

I don't know how I can deliver a better product than what's already out there.

If you already knew, you wouldn't be asking questions here! It's a given that you don't know yet. Get out there and go where the dollars are, and start asking questions. As tourists questions. Ask tourist businesses questions. Ask yourself questions.

When you don't get useful answers, ask different questions. Identify need. Find a way to create value. This is the key to success.

Start googling Romainian tours. Read reviews. Read every 5 star review, and every 1 star review. Take notes on the things people LOVED about their trip, then take notes on the things people HATED about their trip. Once you're done looking at what everyone hated, see if you can find any common thread. That is your NEED.

Now that you have a need, ask yourself how you could solve the problems that people had. Better yet, ask how someone with unlimited resources would solve that problem. That was easy, right?

Congratulations...you solved a need. Now you need to figure out how to obtain access to the resources to implement that solution. That's a new problem. Start asking more questions. Lather, rinse, repeat.

As soon as you solve one problem on the way to making this happen, you'll probably find another...and another. But none of them are insurmountable. Keep chipping away at it until you have an answer, and see what the next is.

This is a technique I discovered in my work as a system adminstrator. If the error (your problem) is changing, you're making PROGRESS!

By the time you're done, you'll have found a solution to a problem that no one else has solved, and you'll have your first business model. Run with it, milk it for all it's worth, and keep your eyes open for more problems to solve.

If you can get your mind in this mode of constantly seeing problems to solve as opportunities, and you become confident in your ability to chip away at them until you get to the core, then you will be unstoppable.

Also, go read TMF .

 

[JMitchell]

Thanks guys, you're real helpful.

Here's my most recent idea:

Mentorship market -- want to lose weight? Go find a personal trainer/nutritionist mentor to make sure you're doing it right.

Implementation: mentors with a proven track of success can charge for offering mentorship. Those mentors who want to charge must pay a subscription to you. Not-so-known mentors can build reputation on the market and eventually they'll be able to charge too. Mentees can use the market for free.

How's this idea? Am serious.

 

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[JMitchell]

The BPs I've read here sound very inspiring! And money-making!

Any Harlem Shake vids from the group?

Hey MJ, I know that you have experience with Internet ventures, so I was wondering if you could chime in on this thread. Basically, I want to start an Internet business. If I want to sell something, I need to create a legal entity to protect myself from potential liabilities. I don't, however, have any money to do that. If I don't sell, but use advertising and affiliate marketing, I might never get onto the fastlane. What do you think I should do? I'm a bit disadvantaged because I operate in a very backwater market.

 

[Kak]

Re: 2013 B&P... what we're doing...

The BPs I've read here sound very inspiring! And money-making!



Hey MJ, I know that you have experience with Internet ventures, so I was wondering if you could chime in on this thread. Basically, I want to start an Internet business. If I want to sell something, I need to create a legal entity to protect myself from potential liabilities. I don't, however, have any money to do that. If I don't sell, but use advertising and affiliate marketing, I might never get onto the fastlane. What do you think I should do? I'm a bit disadvantaged because I operate in a very backwater market.

I think you should get a job and make some money if you can't afford a $300 LLC.

 

[JMitchell]

I think you should get a job and make some money if you can't afford a $300 LLC.

Problem is, I don't live in the USA, nor am I an American citizen, so incorporating there would cost me greatly. I would, for instance, need to hire legal counsel too. Besides, how would I handle taxation? Would I ever get in trouble with the IRS or my country's local IRS? I'm too small right now to afford some small financial F*ck-up that would throw my wealth into oblivion.

 

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[wade1mil]

Problem is, I don't live in the USA, nor am I an American citizen, so incorporating there would cost me greatly. I would, for instance, need to hire legal counsel too. Besides, how would I handle taxation? Would I ever get in trouble with the IRS or my country's local IRS? I'm too small right now to afford some small financial F*ck-up that would throw my wealth into oblivion.

"No excuses" - Vigilante via Walmart

 

[Kak]

Problem is, I don't live in the USA, nor am I an American citizen, so incorporating there would cost me greatly. I would, for instance, need to hire legal counsel too. Besides, how would I handle taxation? Would I ever get in trouble with the IRS or my country's local IRS? I'm too small right now to afford some small financial F*ck-up that would throw my wealth into oblivion.

The best advice I can give you is to literally go figure it out yourself.

 

[Vigilante]

JM... we're not going to have two threads about your business dreams. If anyone wants to respond to you on that, they will do it there. MJ may respond over there (or he may not, up to him...) but realize there are dozens of people on the forum with equal or more .com experience. Don't skip past other people. I learned this week at Beer and Pancakes that you can't judge a book by it's cover. Some of the brightest people on this forum (and the most experienced in internet commerce and marketing) many people might skip past looking for one of the high profile names. KAK above gave you some solid direction. Nobody is going to do this for you. It appears you haven't done any research and are just throwing shit up against the wall to see if it sticks. Develop a plan, develop a business... and THEN ask questions.

Because nearly every post you write also includes reasons why you are at a disadvantage, you are not ready for anyone to take you seriously yet. No excuses. Nobody else here can tell you what to do in Romania, other than figuring out how to solve the needs and add value to problems that exist around you. We're not your personal idea counselors.

Do not hijack any additional threads asking people to come over to the other thread. If they want to get involved and help you with your ideas, they will do so on the other thread that you started on the same topic.

We're going to return this thread to it's topic.

fftopic:

Thanks...Vigilante

 

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[Kak]

JM... we're not going to have two threads about your business dreams. If anyone wants to respond to you on that, they will do it there. MJ may respond over there (or he may not, up to him...) but realize there are dozens of people on the forum with equal or more .com experience. Don't skip past other people. I learned this week at Beer and Pancakes that you can't judge a book by it's cover. Some of the brightest people on this forum (and the most experienced in internet commerce and marketing) many people might skip past looking for one of the high profile names. KAK above gave you some solid direction. Nobody is going to do this for you. It appears you haven't done any research and are just throwing shit up against the wall to see if it sticks. Develop a plan, develop a business... and THEN ask questions.

Because nearly every post you write also includes reasons why you are at a disadvantage, you are not ready for anyone to take you seriously yet. No excuses. Nobody else here can tell you what to do in Romania, other than figuring out how to solve the needs and add value to problems that exist around you. We're not your personal idea counselors.

Do not hijack any additional threads asking people to come over to the other thread. If they want to get involved and help you with your ideas, they will do so on the other thread that you started on the same topic.

We're going to return this thread to it's topic.

fftopic:

Thanks...Vigilante

Now send him a bill for your time that he wasted... A la Dale on the phone last night. :smilielol:

 

[JMitchell]

"No excuses" - Vigilante via Walmart

"IRS: We’ve got what it takes to take what you’ve got."

The best advice I can give you is to literally go figure it out yourself.

Figure out myself how to navigate the American justice system to make sure I don't screw up incorporating there?

It appears you haven't done any research and are just throwing shit up against the wall to see if it sticks.

Nobody else here can tell you what to do in Romania, other than figuring out how to solve the needs and add value to problems that exist around you. We're not your personal idea counselors.

But I have done my homework, and it seems that an Internet business is the only fast lane opportunity which meets the CENTS criteria given my situation.

Isn't the point of this subforum to discuss ideas?