Chapter 16 in our text book discusses what it takes to launch a successful online business.
So what are the basic steps to create an online business?
There are 3 basic steps that are:
1. Identify a consumer or business need in the marketplace.
2. Investigate the opportunity.
3. Determine the business owner's ability to meet the need.
It is a very basic supply and demand issue. If you have a good idea for a needed product that can actually work - there are chances you'll have customers who might express interest in it.
Amazon.com is an example of a successful online business, that developed from a good idea of an innovative person (Founder Jeff Bezos). Adding innovative ideas to the business is part of what makes Amazon such a great business. Besoz was able to meet clients' needs and made Amazon and empire.
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