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Anonymous
Anonymous asked in Business & FinanceSmall Business · 1 decade ago

Is this a good online business idea?

I am 16. Some people say this is a bad idea for an online business/internet company, but I'm not sure if I should do it. I would hire a web design firm over the summer to create the site.

It is a website where users can submit original songs and other users can listen, rate, comment, share, and chat with other users. I might also add a place for users to put gig dates and other info. I would make money from the site by selling ad space and hopefully market the site A LOT to get huge amounts of traffic. I might also sell an ecourse on "writing good songs" for $10. I would like to make six or more figures a year.

I am discouraged to do this since everyone says that a "real" online business is where you have a website and sell stuff (office chairs, clothes, etc.). People say you can't make money from ads. Is my idea a "real" online business? Could I become CEO?

I would really like to have an online business over the summer and hopefully make pretty good amounts of money ($100,000 and up per year). Is my idea any good? Should I do dropshipping, retail, affiliate marketing, or MLM instead? I really would like to do my idea though. I think many people would enjoy it and many people would need it to get their music heard in an organized area.

What do you think?

7 Answers

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  • 1 decade ago
    Favorite Answer

    It was a good idea 11 years ago when CDBaby.com , Hardroad.com, itunes and many others created it. So now, after it has been done to death, the idea is no longer a good one, as the competition is HUGE and established. There are also sites where artists can collaborate to create music together like opsound.org and jamendo.com

    If you want to get started now, with less than $100k in the bank to get up and going, your best bet is to target what you know and start with affiliate marketing for existing businesses.

    Use that to help you identify opportunities in the market. In the music market, a giant glaring hole is live event promotion and user reviews for small venues and large alike.

    You will not make $100,000 over the summer, or in your first year. It takes time and money to establish and grow a marketplace. You can develop rapidly if you have the cash to spend, or you can take your time and spend little money.

  • 1 decade ago

    it sound like a good idea, but artist have got other ways to promote there songs and the fact that you would like to make $100,000 in your first year sound like a lot. some artist just make there our website or use Facebook, so you would need to see how you can get them away from that and on to your site, which can be very hard.

    also if you are not going to design the web site then how will you maintain it. every time you would need to do something you might have to go back to the designer and that would mean that you are spending more money.

    i would have to say that it is good that you are trying to think about some sort of business, but you need to go back to the drawing board.

  • 1 decade ago

    I think thats a great idea. Market it on Facebook and Myspace and all those social networking sites and that sounds like the kind of thing thatd get a lot of traffic. Find out if there already is something like that though. Id go to that site.

    You could also have a section for local bands that are looking for additional musicians. I dont think your gonna get 6 figures off of it, but i dont know how much ad space runs for. But go for it.

  • Anonymous
    1 decade ago

    Yes it really is big ideas you have got. You will surely become a future CEO. Its not a bad idea to start an online business. Online business or website business are most promising ones now. We can become rich quickly if we put all our effort to it. For your business to become success you should do better search engine optimization techniques. You should submit your website online directories.Not the usual web directories.But online business directories of good quality.I would suggest you to list your website as soon as it is setup in http://www.directory.ac./ Its a good business directory online.

    All the best. May you be a big business magnet in future. Also a better human.:)

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  • Anonymous
    1 decade ago

    At your age, I am totally impressed Brandon! I'd suggest you download the ebook about internet marketing here:http://tinyurl.com/237cvqj .

    It's a simple and straight-forward ebook with step-by-step instructions that can produce a lot of traffic, leads and income for you if you're willing to put in the small amount of time and effort to do it.

    The truth of the matter is that the ebook is proven to be effective when it comes to internet marketing. So if your trying to build an online income without a powerful Marketing System you will always be climbing a slippery slope. :-)

    Source(s): www.valflint.com
  • 1 decade ago

    Great idea, but either way the first thing you learn is how to control and generate web traffic. No matter what site you have network marketing, affiliate, or drop ship, if you can control traffic and conversions, you write your own check.

  • Anonymous
    5 years ago

    Hi there. What I would do is find products either in your local area or on the internet that you would be interested in selling. So, for example: If your local city makes cheesecake, as the owner or company if you can distribute their product over the internet. Or, think of a product that you are really interested in or knowledgable. Then look on the internet for a manufacturer. Get some High Resolutions pictures from that company. Set up a "store" on the internet and start selling.

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