Portal/Website Management

Business through portals and website is the latest and fastest growing business method thus, so many are attracted to this medium. In the recent years we have seen rapid growth in this area.

I have seen, so many come to this business and drop after a year or so, I had lot of experience with these entrepreneurs, would like to share some.

1)      3 years back, I got a client from USA asked me to develop a portal to deal with electronic items; he came with lot of ideas and had popular sites as reference. I have given him a quote of US$ 35000 with 90 days time line. He accepted and started the project and as per time line we delivered the portal. He managed the portal for 1 year and now he is not with that business. 

2)      2 years back, one of my friends asked me to develop a portal to manage Automobiles, especially to deal with Indian market. I have developed according to his plan and he was with that for a year, unfortunately he could not succeed with this business and dropped.

When I analyse these two projects, it was a very good project as far as technical feasibility is concerned. We have taken all precautionary measures to have successful running of these portals. But why they had to drop it?

1)      First of all, both of them entered into this venture without having a proper market analysis, feasibility study etc. They have seen someone making profit out of it and thought they could also make huge profit. 

2)      They did not have proper budget to develop and market the portal.

 3)      Marketing strategies were weak so could not get much business.

4)      Did not stick with the minimum requirement, they wanted to develop the most advanced and leading sites clone; so, had to invest more. 

What we could learn from these examples;

Those who wish to enter into web/portal business should have the following;

1)      Have proper Business analysis, market study, feasibility study etc.

2)      Should have the best and innovative marketing strategies and budgetary support to it.

3)      Do not try to clone major sites with all the features they have. Should understand that the popular and most leading sites have started years back and upgraded. So be with most essential features. (Recently a client asked me to develop a clone of http://www.bharatmatrimony.com/, I have given him a quote, after seeing the quote he said will drop the idea and now doing a site with essential features )

4)      Should have a long running business plan as far as revenue is concerned, do not go with short run.

Since, online marketing is the future, we should have proper planning, analysis, budget etc, because you are in a highly competitive field and it is important to give an impact.

Information Technology, Management Practices Automobile portal, Electronics portal, feasibility study, long running business plan, market analysis, Portal Website Management, short run business plan.