Before I start talking about the business that I want, first I want to explain these terminologies to for the sake of discussion. Business is an economic system in which goods and services are exchange for one another or money, on the basis of their supposed worth. Every business requires some form of investment and a sufficient number of customers to whom its output can be sold at profit on a consistent basis. A business is naturally formed to earn profit that will increase the wealth of its owners and grow the business itself. The owners and operator of a business have as one of their main objectives the receipt or generation of a monetary returns in exchange for work and recognition of risk. This basically means that business is made primarily to increase your own wealth or to gain from others in term of giving them something for something more in return.
The next terminology is Technology. Technology is the usage and knowledge of tools, technique, crafts, systems or methods of association. Technologies significantly affect human as well as other animal species' ability to control and adapt to their natural environments. The human species' use of technology began with the conversion of natural resources into simple tools. Recent technological developments, including the printing press, the telephone, and the Internet, have narrowed physical barriers to communication and allowed humans to interact freely on a global scale. Technology has affected society and its surroundings in a number of ways. In many societies, technology has helped develop more advanced economies and has allowed the rise of a vacation class. Different implementations of technology manipulate the values of a society and new technology often raises new ethical questions. Examples include the rise of the concept of efficiency in terms of human productivity, a term originally applied only to machines, and the challenge of traditional norms. Or in a very brief explanation is the advancement of equipment with the use of knowledge.
Also one of the advancement that technology brought about is the so called social sites or online communities. And massive variety of online games that kids nowadays are so fund of joining and getting addicted into.
Introduction to business idea:
Nowadays there are a thousand of online games that exist. And all of them have a currency of their own. An example is HitGrab’s MouseHUnt with gold as a currency, Level-up-game’s Ragnarok with Zeny, Level-up-game’s FLYFF with Penya. Now, not all players now how to effectively earn money in the game they are in it maybe because the game has low cash drop rate or they just don’t know what to do to earn more. This idea came when my friend told me his gaming story. The story goes like this. He is an addict to the game MouseHunt and he is fund of buying rare items and game credits from anyone who offers just to excel in the game and be the leading player among the others. So I will use that idea and put it in a business. I will be selling game credits and items if available. This means I will be retailing game credits. Retailers and Distributors act as middle-men in getting goods produced by manufacturers to the intended consumer, generating a profit as a result of providing sales or distribution services. Most consumer-oriented stores and catalogue companies are distributors or retailers.
Business details:
This will be Sole proprietorship type of business ownership where the business is owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has personal liability of the debts incurred by the business. But if necessary I’m also willing to change into a different type of ownership.
Also this business will not need a massive amount of money for capital because I myself am an avid fan of online games. So I will be playing and selling whatever I gain in those games. But as I said it’s not easy to gain game credits as a player. So how will the business grow? I have also said earlier that I or the nature of the business is a retailer. This means that I will be buying small amount of credits for a cheaper cost and selling them at a higher price. So I will be doing something that they call buy and sell strategy.
Scope and target clients:
Now to have a good business having a good business idea is not the only requirement. You must also have target client or costumer and they have to be plenty to be ensured that the business will be a success. Because without target clients the business will be nothing more than a gamble without assurance of getting back what you spent. For the business that I have planned my target client will be those people who want to get easy credit for the game that they are playing. In our local place alone there are a very massive amount of people who are into online games. And there are also business minded people who are already doing this kind of business. But they are only offering a single online game credit. As for me I will be offering as much game as I can find and learn tricks or easy money techniques. Also this business will have its own website, because I’m planning to have the biggest game credit selling business not only locally but in the world. So there will be a web-based approach for this business for the people on other countries. Modes of payment will be through the most trusted online banking, PayPal.
The success of this business will be determined by the following factors:
• What game should be supported or offered.
The games that will be offered should be games that have a large community. To be sure that there is someone interested in the game credits. Because if there is a small gaming community there is a little chance that they would be interested in buying game credits. And games with large community often have tournaments that require a lot of game credits for supplies to win. They will be a very good target for business deals. Also in a gaming community with a large population game items are sold at a high cost because there are a lot of possible buyers and that would cause a greater demand for game credits and players will start to search for someone who is willing to sell their game credits for cash and that’s where we come in and take their money. LOL
• Where to buy cheap game credits.
Because not all our game credits and items sold are earned in the game and since this is a retail business the source of product which are the game credits and items should be cheap to the extent that we can gain the highest profit possible. Forums is a good hunting site, because a lot of forum community has people selling their game credits that asks their client to offer for price.
• Advertisement
No business will grow without advertisement. But since this is a business at a very low stage, advertisements should be cheap or if possible free. So I’m thinking of advertising at social sites like facebook, friendster, tweeter and other social sites that offer free posts. Also advertising at forum sites is not a bad idea. Since some even actually sell their products at forums without paying for using the site for business purposes. The advantage of advertising your business is that prospect clients can find you and most likely purchase what you’re selling.
• Reputation
Posting proof of successful deals in the site will be a good idea. This will tell the other interested clients that they can trust this little business and will hopefully buy my offers. Building a good reputation is really important, because if you have a good reputation more clients will come to you even if you’re offering them services at a higher price but riskless business deals. This will be the edge against those who just sell on social sites, because most of them don’t get any clients because prospect clients are careful enough to avoid being scammed.
Advantage of business:
• Home based
Since this is an online game credit shop there is no need to rent a place for office or headquarters, home is more than enough to be an office. And for local deals setting up a meeting place to do the exchange or payment is an option, but if possible inviting them to pay at the house is also good. Where after they pay the game credits will be sent to their accounts immediately.
• Bonus Profit from game
As I said earlier I am also an avid fan of online games. The only difference of me from the clients is that I don’t buy game credits. So I will also be playing some of the games and try to earn as much game credits as I can and if lucky I might even find rare items that other players would be willing to buy for cash. That would mean an additional profit without additional capital.
• Less capital
This business doesn’t need much money to start. First is that because no special equipment is needed. The equipments needed are already available, since they are just a PC with a good video capacity and a good internet connection. Second is as I said I’m an online game player so some of the game credits and items for sale will be from luck in playing the game and would only cost me time and electric bill. LOL
Disadvantage:
• Scam
Since we will be buying from cheap suppliers the risk of scam is high. But it’s a matter of being wise enough not to get fooled. But we never really tell. Anyway with luck and good analysis hopefully we don’t get fooled.LOL
• Weak game maintenance
If the games we offer have a bad maintenance chances are it will be out of trend soon. And out stock of game credits and items that are not yet purchased will be a dead investment and will be useless. Hopefully we don’t experience this. And also games with weak maintenance are vulnerable to hackers. Someone might get inside and if not destroy the game that would mean the end of our business, would make their accounts rich enough to be giving away everything for free. That will be very bad for our business.
• Trust issues
Well since we have online services offered the issues regarding trust is important. It was stated above that building a good reputation is a key to the success of this business. And we can’t avoid people who will try to damage our reputation with black propaganda. What their motives will be is none of our concern for now.
So far those are the factors for success, advantages and disadvantages that I can think of. But it is expected that more will be added when the business is launched.
The next terminology is Technology. Technology is the usage and knowledge of tools, technique, crafts, systems or methods of association. Technologies significantly affect human as well as other animal species' ability to control and adapt to their natural environments. The human species' use of technology began with the conversion of natural resources into simple tools. Recent technological developments, including the printing press, the telephone, and the Internet, have narrowed physical barriers to communication and allowed humans to interact freely on a global scale. Technology has affected society and its surroundings in a number of ways. In many societies, technology has helped develop more advanced economies and has allowed the rise of a vacation class. Different implementations of technology manipulate the values of a society and new technology often raises new ethical questions. Examples include the rise of the concept of efficiency in terms of human productivity, a term originally applied only to machines, and the challenge of traditional norms. Or in a very brief explanation is the advancement of equipment with the use of knowledge.
Also one of the advancement that technology brought about is the so called social sites or online communities. And massive variety of online games that kids nowadays are so fund of joining and getting addicted into.
Introduction to business idea:
Nowadays there are a thousand of online games that exist. And all of them have a currency of their own. An example is HitGrab’s MouseHUnt with gold as a currency, Level-up-game’s Ragnarok with Zeny, Level-up-game’s FLYFF with Penya. Now, not all players now how to effectively earn money in the game they are in it maybe because the game has low cash drop rate or they just don’t know what to do to earn more. This idea came when my friend told me his gaming story. The story goes like this. He is an addict to the game MouseHunt and he is fund of buying rare items and game credits from anyone who offers just to excel in the game and be the leading player among the others. So I will use that idea and put it in a business. I will be selling game credits and items if available. This means I will be retailing game credits. Retailers and Distributors act as middle-men in getting goods produced by manufacturers to the intended consumer, generating a profit as a result of providing sales or distribution services. Most consumer-oriented stores and catalogue companies are distributors or retailers.
Business details:
This will be Sole proprietorship type of business ownership where the business is owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has personal liability of the debts incurred by the business. But if necessary I’m also willing to change into a different type of ownership.
Also this business will not need a massive amount of money for capital because I myself am an avid fan of online games. So I will be playing and selling whatever I gain in those games. But as I said it’s not easy to gain game credits as a player. So how will the business grow? I have also said earlier that I or the nature of the business is a retailer. This means that I will be buying small amount of credits for a cheaper cost and selling them at a higher price. So I will be doing something that they call buy and sell strategy.
Scope and target clients:
Now to have a good business having a good business idea is not the only requirement. You must also have target client or costumer and they have to be plenty to be ensured that the business will be a success. Because without target clients the business will be nothing more than a gamble without assurance of getting back what you spent. For the business that I have planned my target client will be those people who want to get easy credit for the game that they are playing. In our local place alone there are a very massive amount of people who are into online games. And there are also business minded people who are already doing this kind of business. But they are only offering a single online game credit. As for me I will be offering as much game as I can find and learn tricks or easy money techniques. Also this business will have its own website, because I’m planning to have the biggest game credit selling business not only locally but in the world. So there will be a web-based approach for this business for the people on other countries. Modes of payment will be through the most trusted online banking, PayPal.
The success of this business will be determined by the following factors:
• What game should be supported or offered.
The games that will be offered should be games that have a large community. To be sure that there is someone interested in the game credits. Because if there is a small gaming community there is a little chance that they would be interested in buying game credits. And games with large community often have tournaments that require a lot of game credits for supplies to win. They will be a very good target for business deals. Also in a gaming community with a large population game items are sold at a high cost because there are a lot of possible buyers and that would cause a greater demand for game credits and players will start to search for someone who is willing to sell their game credits for cash and that’s where we come in and take their money. LOL
• Where to buy cheap game credits.
Because not all our game credits and items sold are earned in the game and since this is a retail business the source of product which are the game credits and items should be cheap to the extent that we can gain the highest profit possible. Forums is a good hunting site, because a lot of forum community has people selling their game credits that asks their client to offer for price.
• Advertisement
No business will grow without advertisement. But since this is a business at a very low stage, advertisements should be cheap or if possible free. So I’m thinking of advertising at social sites like facebook, friendster, tweeter and other social sites that offer free posts. Also advertising at forum sites is not a bad idea. Since some even actually sell their products at forums without paying for using the site for business purposes. The advantage of advertising your business is that prospect clients can find you and most likely purchase what you’re selling.
• Reputation
Posting proof of successful deals in the site will be a good idea. This will tell the other interested clients that they can trust this little business and will hopefully buy my offers. Building a good reputation is really important, because if you have a good reputation more clients will come to you even if you’re offering them services at a higher price but riskless business deals. This will be the edge against those who just sell on social sites, because most of them don’t get any clients because prospect clients are careful enough to avoid being scammed.
Advantage of business:
• Home based
Since this is an online game credit shop there is no need to rent a place for office or headquarters, home is more than enough to be an office. And for local deals setting up a meeting place to do the exchange or payment is an option, but if possible inviting them to pay at the house is also good. Where after they pay the game credits will be sent to their accounts immediately.
• Bonus Profit from game
As I said earlier I am also an avid fan of online games. The only difference of me from the clients is that I don’t buy game credits. So I will also be playing some of the games and try to earn as much game credits as I can and if lucky I might even find rare items that other players would be willing to buy for cash. That would mean an additional profit without additional capital.
• Less capital
This business doesn’t need much money to start. First is that because no special equipment is needed. The equipments needed are already available, since they are just a PC with a good video capacity and a good internet connection. Second is as I said I’m an online game player so some of the game credits and items for sale will be from luck in playing the game and would only cost me time and electric bill. LOL
Disadvantage:
• Scam
Since we will be buying from cheap suppliers the risk of scam is high. But it’s a matter of being wise enough not to get fooled. But we never really tell. Anyway with luck and good analysis hopefully we don’t get fooled.LOL
• Weak game maintenance
If the games we offer have a bad maintenance chances are it will be out of trend soon. And out stock of game credits and items that are not yet purchased will be a dead investment and will be useless. Hopefully we don’t experience this. And also games with weak maintenance are vulnerable to hackers. Someone might get inside and if not destroy the game that would mean the end of our business, would make their accounts rich enough to be giving away everything for free. That will be very bad for our business.
• Trust issues
Well since we have online services offered the issues regarding trust is important. It was stated above that building a good reputation is a key to the success of this business. And we can’t avoid people who will try to damage our reputation with black propaganda. What their motives will be is none of our concern for now.
So far those are the factors for success, advantages and disadvantages that I can think of. But it is expected that more will be added when the business is launched.
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