What should I focus on before starting an online business to keep it profitable?
Answer by Drew Steig – Quoras Own Start Up and Small Business Guru
Answer originally posted on Quora.Com
Research research research. Research your costs, over and over and over again. Find the right balance between price and quality. Research your market, make sure you are competitively priced. Research your execution costs, and equipment costs. Start small and then expand as needed.
Oh and expect to put all your profits back in the business for 2–5 years to fund expansion. Sacrifice now to be ready to succeed later!