"How do I get started in such a venture?"

Last night, I received an email from Bob in Illinois. Bob asks a question that I get often - "how do I get started?". So, with his permission, I am posting the original email and my response here. I hope it is helpful.

On Feb 6, 2008 8:20 PM, <p......b@c...t.net> wrote:

Travis,

I read your blog entry regarding StubHub.

I was interested to see you mentioned vacation spots as an example of a possible application. I've thought about that aspect for a while. My idea focuses on Timeshare. It seems there are numerous sites that ask for fees up-front without delivering. As a timeshare owner myself, I'd love a place that is well publicized where I could post my timeshare, like I've done with my Chicago Bears tix on StubHub.

Trouble is, I haven't the first idea how to get started. Where can I learn about the basics of starting such a venture?

Thanks,

Bob M....

Plainfield, Illinois

Hi Bob,

Thanks for the note!

I think to get a venture like this off the ground you need three primary skills.

The first is the easiest to acquire, and that is basic Internet technology implementation. You'll need to know about programmers and designers and online marketing options.

The second is market research. You need to know if people with timeshares (or looking for them) are willing to engage you and build a relationship. You need to know if there is a pain point that you can address and solve. For this, I must recommend Glenn Livingston's survey model. It is extremely thorough - it will give you the data on your market you need to succeed. I have used it several times now - and if you can handle the intensity, you are WAAAAY ahead of the game.

http://www.howtodoubleyourbusiness.com

The third is the less tangible, which is basic business sense. I just finished reading a book called "Jump Start Your Business Brain" by Doug Hall that goes into great detail about crafting a business idea that can succeed. I highly recommend it!

http://www.amazon.com/Jump-Start-Your-Business-Brain/dp/1558706070

In addition to these skills, you need a whole lot of determination and fortitude. When I first got into e-business I was looking for the silver bullet. And I sometimes still find myself trying to take the easy way out. But the thing is - that never works. It takes years to build a successful business online, just like it does offline. If you're not committed and "in love" then you're not likely to succeed!

Hope this is helpful.

Travis