What a fantastic week! I’ve learned so much this first full week of my B250 – Web Business Creation class. This week I became the fourth member of a pretend group of friends in college that want to start an online business. We studied business model, business idea brainstorming, and did research on viability and chances of success using Google AdWords Keyword Planner.
I found all three of these areas very helpful in furthering my ability to start my own online business. Even though I already had some ideas I still found the idea generation and business model information helpful. However, I found learning how to use the Keyword Planner especially helpful. With this knowledge I can now better research the demand, cost, and level of competition for my own business ideas.
I’ve taken several online courses through BYU-Idaho before. In most of those classes I have felt like the discussion boards were often “busy work.” I was afraid of this class falling into that same category, however, I’m happy to report I found the discussion boards to be enlightening this week. Several times I have found posts by other students that point out thoughts I haven’t considered. For example, as the fourth member of that pretend group of friends we researched two business ideas. One around chess and the other around snowboarding. It looks like most of us came to the same conclusion. There is a lot less competition in chess, and a lot more online searches related to chess. I only considered the level of competition and the associated costs when making my recommendation. Another student also pointed out the level of stress each scenario might have. I hadn’t really thought about the time commitment or level of stress either scenario would most likely incur. I look forward to continued participation in these weekly discussions.
Overall I rank this week a great success. It’s been a while since I’ve looked forward to the next weeks assignments!
Here are some links I found useful this week.
Online Business Models descriptions.
Business Ideas brainstorming site.
Since I’m leaning towards trying to make money off a blog type of website I found this website useful as well since it gives ideas on how to monetize blogging.