For the past several weeks I had been working (read: slaving) on my flights project which would become
So once the Yore Oyster launch had blown over, I needed a serious break. And that's when I heard about the brand new social network that the media heralded as being poised to finally overtake Facebook.
Highly sought after item + Highly restricted access =
Highly profitable opportunity
Applying the same methods used by tulip farmers and diamond miners alike, it was time to capitalize on a brand new market.
I was going to start selling Ello invitation codes. Here are the steps I took to do it.
Applying this to the greater business landscape, the three steps above perfectly illustrate a template for how a small online business can, and should, be built:
Now, Ello fell out of the limelight as quickly as it had ascended to it, so the opportunity to scale this business in the same vertical fell away. Still, I learned some valuable lessons about rapid iterations (which I would apply a few weeks later in another experiment with Yore Oyster, gaining national print, radio, and television coverage as a result), honed my coding skills, and pulled in a few hundred dollars from the experiment. But this is the best part: the 3-step formula for quickly building small online businesses above can be applied in thousands of different ways:
Infrastructure like websites are cheaper than ever. Traffic drivers like social media and easy-to-find content is more accessible than ever. And automation through technology and outsourcing is easier than ever.
There has never been a better time to start something. And as you can see here, sometimes it pays to start off small.
Long live the micro business.