Online Community for Online Sales

Building an Online Community Before Selling Online - Software prices are relatively low these days, so its very inexpensive to launch a social network site for your niche. While holding your fulltime job, start by building and developing a blog blended site with social networking features.

Building a Community Before Seeking Financing - Build the site, foster the members... then slowly rollout your ecommerce section. Before you know it, you can possibly make the transition from an employee to a small business owner.

The founders of Bottletalk, a Britain-based wine social network launched in December, 2006, spent the first year expanding the number of users before trying to commercialize the site.

Being self-funded presents its own obstacles, however. By having to use your own capital, it forces you to be disciplined about developing the business. With every change to the site costing you time and money out of your pocket, you must question yourself on every move and its viability. You must question yourself whether each decision/move can make the business profitable.

You'll eventually build your member base, solid planning and good products requires patience. This by far is not the approach for entrepreneurs looking for big returns immediately. Self-funded entrepreneurs also face the risk that the significant time and money they put into their businesses may never yield profits.

For many this approach requires working nights and weekends. You've got to make that "sweat equity" investment. Follow your love, follow your passion... You must enjoy the ride! It'll be more fun that running around for VC, investors.. or family creditlines.