Before you do anything on the internet, anything at all, take these words of advice. Research, Research, Research. Just because you can do something, sell something, or do something, doesn't mean that you should run out, and start coding everything to get you set up to actually do it. Make sure that you actually take the time to research the competition and everything that surrounds your product on the internet. For example, you visit Myspace/Facebook and come to the conclusion that you can make something that is ten times better, you spend a month building the website, then spend thousands of dollars of dollars on marketing and come to the realization that no one wants to join a social networking site that isn't already established 10-15 times over. Selling products can be just as infuriating. You find great deals on products that you can sell on the internet which include very low prices, and a huge array of products. You build the site, and eventually find a location selling all the same things that you have for 50% lower than what you are selling it for. On the internet there are many many competitors, where is a B&M company only has to worry about local competition, on the internet, you are competing with the world. Don't waste your time, and make sure you research your marketing plan, your product plan, your competition, and everything surrounding your company before putting in the legwork and you will succeed instead of failing and wasting your time.
Thanks for sharing this excellent advice! Research involves time but eventually it becomes time saver, no doubt.
Yea, it is annoying with people asking all these standard questions day in and day out like how do I promote this with a small budget, what should I do to improve this site, why am I not getting on digg, etc.
Everyone wants to be an internet millionaire, from rags to riches, without putting in the research to become one. I can see why sites like the rich jerk are so successful.