Which business idea is better?
Question by Mark Jergens: Which business idea is better?
Hi. I am starting my own Internet asset firm. My firm will buy or build websites, fix them up (by adding content, marketing, etc.) and bring in more revenue from the sites, then sell the websites for profit after six months.
To start my companies portfolio, I would like to build my own website. I have two different options, but I need help deciding which is more profitable than the other. I can only start one now. After making some revenue from this one site, and then selling it, I will be able to afford growing the companies’ portfolio of web businesses.
1. I would start a website like Linkedin, but with a better approach on creating a more realistic business to business experience. I will be purchasing the script for $ 800. I have already seen a basic demo, and it literally has everything. They even offer the option to have your site custom designed. It has every feature of Linkedin, and more. I would make money by having a free and premium levels, ads on the site, and employer listing fees to list a job opening.
2. A web service like pay pal. Again, the script is $ 800. The script is okay, but is very, very basic. There is no real difference from pay pal. I’m not even sure why someone would use me instead of pay pal. However, the only reason I’m looking at it, is because every transaction makes me money. So it could be more profitable then the first site.
However, I’m thinking of going with the first site, because in the long run, it would be able to sell for a lot more, since it comes with tons of features, and hopefully, users. Do you think this is a good idea?
Best answer:
Answer by Charlie Kent
The linkedin sounds interesting, but the idea is done to death.
Paypal is handy, but you would need capital, lots of it plus you end up under semi regulation of sorts by the Feds.
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