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In the past year or two, more and more enterprising Jamaicans have set up on-line ventures, with the obvious critical aim being to make a profit. Some have managed to do this and survive, while others have quietly ceased operations and faded from memory. The causes of such failures usually stem from poor business or marketing plans, but hopefully the tips below can serve as a useful guide for anyone planning an on-line venture.
DO MARKET RESEARCH
You may have a perceived 'great idea', but why jump headlong into it without first doing a bit of market research? The size and number of potential and existing competitors, the extent of product/service demand and its marketability are all key factors that will help to tell you whether or not it makes sense to proceed with your idea.
TRY TO DIFFERENTIATE
As a basic example, there are already dozens of web sites selling pickapeppa sauce and reggae CDs, and quite a few giving reviews of the latest parties in Jamaica, so why do you think that your 'pickapeppa' or 'Jamaican parties' on-line venture will blast away the competition. The onus is on you to ensure that whatever you are putting out there does not get lost in the sea of competition. You can also look to identify a potentially profitable niche within an already popular market.
THINK GLOBALLY AS WELL AS LOCALLY
If you have an idea that may work locally, investigate the feasibility of doing it for a global Internet audience. The Internet's reach is unlimited, so why restrict your venture to a Jamaican audience. On a regional level you could be looking at the wider Caribbean, and globally you could be looking at the entire English-speaking population of the world. There are a lot more customers to be had on these broader scales, so don't hold back if it's a good idea.
SPEND WISELY
Whether you're paying a web hosting company to host your on-line venture, or a programmer to create a database for it, do your research and spend wisely. If you get a 'deal' for hosting that is 'too good to be true', and then it turns out that your site is inaccessible several times in any given day, then that is probably why it was 'too good to be true'. The cheapest is not always the best but at the same time, do your homework to ensure that you're not overcharged.
MARKET IT
Yes you can put the grand idea to life, but it will be your big secret unless people know of its existence. Whether you're spending big dollars on elaborate marketing campaigns or using low-cost methods to get the word out there, marketing your on-line venture is key. Build it and they will come, but only if they see, read or hear about it.
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