Challenges with e-commerce or other online businesses?

August 12, 2020

by a searcher from Massachusetts Institute of Technology - MIT Sloan School of Management in Salt Lake City, UT, USA

I'm doing a self-funded search given geographic constraints. One way I've thought to overcome those constraints is to look at online businesses that can effectively be relocated anywhere (such as those through Quiet Light Brokerage - many are relocatable).

My background is primarily in general business management - have done consulting, M&A, and operations. I don't have an online background, especially as it relates to digital marketing and sales, so I've felt somewhat intimidated to look deeply into those businesses.

Does anyone have any thoughts on how challenging it would be to learn those skills in a way to manage and grow an online business? What are the other challenges with online businesses to be aware of?

Reply by a searcher
from Harvard University in San Juan, Puerto Rico

The biggest challenge is that things can change very quickly. It is not unheard of for some google or any other channel's algorithm update to take 30% of your traffic away overnight. Not a big deal when you're bootstrapped, but can be a very big deal when you're 90% leveraged going into it. That being said, you can sometimes find businesses that have recurring customers or really do have some kind of proprietary unique angle. My specialty is content sites; if you ever want to have a second set of eyes look at a content business you're evaluating, feel free to shoot me a note.

Reply by a searcher
from University of South Carolina in Great Falls, VA, USA

Coming from the digital space and taking a quick look at your background, I'd say you'd be fine, but would find the work very different than expectations. Having done both it's usually the same level of effort, but the timing is way different. Also, as mentioned above by David, things move faster, probably because there is more digital native people talking about what to do digitally vs with more traditional businesses. That said I've been chatting about partnering with a South African firm that focuses on drone ecommerce sales. If you like I could put you in touch with him.

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