AsianTom.com

I can only think of 2 types of businesses, service or product. Both work great online but which one is best suited for you? I have tried my hand at both but personally I find the service business much easier to get off the ground a lot less work involved.

With a service business you can cater to many people with a single service often times performing this service once and having a paid membership site where all the members get the service. Example would be Ebay as they provide a platform for many paying customers. Most of my sites are service driven as the overhead is the least expensive and failure won’t result in too much losses.

Product driven business are also very successful if you have the right product or cater to a niche market. This is a very competitive industry as with anything else. Starting a product business can be quite risky if you are unable to sell your inventory. Start up cost is much higher than a service driven business. I’ve also tried my hand at this selling stuff on ebay and cell phone accessories online. Both were decent ventures but the time involved was too much for me too handle and have stopped these types of business.