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Online Business is Dying

Written on April 21, 2011 by George Krueger & Mary-Lynn Foster in Business

Granted, it’s a bad joke. But it’s also true – there’s a cyber funeral service called
Basic Funerals. The business was started by a serial entrepreneur and a licensed funeral director.

They started selling funerals online in January of 2009. They grew more than 500% in 2010, mostly by word of mouth. Currently, they operate in Ontario, Canada and two states in the U.S. But they have ambitious expansion plans.

What can we learn from these two? Here are five of our takeaways:

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Join forces

An outsider and an insider came together to make this online business a reality. The business is regulated so an insider was required. But even if that wasn’t the case, there are advantages to pairing up with an insider.

Similarly, sometimes it helps to have an outsider’s perspective. They may see things that an insider wouldn’t. Like “Hey, we could sell this online!”

Differentiate

The funeral home business has traditionally required a high overhead, physical facility. Basic Funerals doesn’t have that. We’ll explain why in just a second.

In addition, marketing online is very cost effective. The combination means Basic Funerals can sell its services at half the price traditional funeral homes would require.

Collaborate with the current players

Don’t cry for the locals. Basic Funerals sublets space from them. It’s a great business model. In fact, smart locals may see this as an opportunity to do more collaboration themselves.

People want options

Basic Funerals added the online dimension to booking a funeral in person or via phone. Some people just like to click to make purchases.

Niches are still available

What’s yours? If you have an idea but don’t know what to do about it, maybe we can help. E-mail us at bigginfo@biggsuccess.com or leave us a voice message at 888.455.2444. See all of our services.

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Image in this post from jaylopez

Tags: audioblog, bigg success, business model, funeral home business, funeral homes, george krueger, mary-lynn foster, niches, ontario canada, serial entrepreneur, the bigg success show

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What’s Hot in 2009: Businesses

Written on January 6, 2009 by George Krueger & Mary-Lynn Foster in Business, Business Ownership, Entrepreneurship

maple_leaf_foods_logo This week on The Bigg Success Show, we’re taking a look at opportunities and threats in 2009. Today, we continue the five-part series by looking at business opportunities.

In the last quarter of 2008, we witnessed some significant shifts in consumer behavior. We’ve written an article on hot businesses for 2009 after doing extensive research on how these shifts will affect businesses.

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Hear George & Mary-Lynn talk about hot businesses in 2009 on The Bigg Success Show! Click the purple player: Play Now | Play in Popup | Download

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You gotta know when to hold ‘em

One of the things we learned is that people are holding on to what they have longer. So if your business idea involves replacing something old, think again about starting up in 2009.

But if you know how to repair something, or can partner with someone who does, 2009 is a great time to get started. For example, one of the hottest businesses in the country right now is shoe repairs. People are repairing, rather than replacing, even the basics.

Every second counts

Somewhat related to repairs, if consumers have to replace an item, they’re often looking for something used. Businesses that sell second-hand items are thriving right now. Resale clothing shops are reporting record sales. From kid’s clothes to wedding dresses, consumers are buying previously worn garments.

Used office furniture suppliers are also doing well. While buyers are feeling stingy, they’re finding it hard to resist some of the premium quality furnishings flowing out of financial institutions these days.

Used book stores are also reporting strong sales as people return to reading as an inexpensive form of entertainment.

It’s a small world after all

The overwhelming majority of businesses are really, really small businesses. They consist of one or two people, in many cases operating from their home. It appears that these tiny businesses – which have been dubbed micro-businesses, are only going to continue capturing a larger share of the total business pie.

What special skills do you have? What are you an expert at … or could you be an expert at? Thinking along these lines may help you discover your opportunity. A lot of the best opportunities are businesses you rarely hear about because they’re small niches within a larger category so they’re hardly newsworthy.

Just like other consumers, businesses are looking for ways to save money. If they can contract for needed services, rather than hiring an employee to provide them, they don’t have the costs that go with a full-time employee. They can also maintain more flexibility to adapt in a rapidly changing world, which is worth money to them.

From your perspective, look at it this way – instead of a job serving one employer (think of your employer as your only customer), would you feel more secure if you had ten employers (since it’s your own business, you’d call them clients)? If one of them stops doing business with you, you might only lose ten percent of your income.

It may sound crazy to many people to even think about starting a business right now. But keep in mind that many of the most successful businesses began in a downturn. You may discover it’s the perfect time to find your bigg opportunity!

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Thanks for reading our post today. Again, check out the article we've written for more information on businesses that will be hot in 2009. Join us next time as we continue this series by looking at threats to be aware of in 2009. Until then, here’s to your bigg success!

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Related posts

What’s Hot in 2009: Careers

What’s Hot in 2009: Threats

(Image in today's post by MISHA)