For this new semester I have been tasked with creating my own business. This week I have had to act as if I did not know what business that was going to be but in reality I already have a business in mind. I currently have a small Etsy business but want to expand that business outside of Etsy. If I do not have to pay Etsy any more royalties for using their site, that would be fantastic. I also believe I can get more business if I am able to sell in multiple platforms. So off I go on expanding my business in bigger and better ways.
This week we read a case about a group trying to start an online business. They weren't quite sure where to start with that business. As a class group, we discussed if it was better for the group to create a business model first, or determine which product, good or service, they were going to offer first. I think this particular answer is really going to be based on the individual as the answer went both ways, but I believe it is best to choose your product first, then determine the business model around that.
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