The growing potential of internet as a breeding ground for low capital entrepreneurs is finally being recognized. More and more people are jumping into the online business band wagon. Most investments in business you make will be much lesser in this virtual world than when you try to startup a business in the real world.

Here are some tips that you can use when you intend to begin a business online:

1. Think Outside the Box: Eccentric and unconventional ideas are very effective online. Most people online today are sick of traditional services offered to them. As an example, the mushrooming number of Social websites – it has become obvious that people are no longer interested in looking for any more social sites as there are already quite established and popular one’s available. The only way to people from an established brand is through innovation and some fresh idea.
2. Chart a Plan: You cannot travel anywhere without knowing the route for your destination. It is the same with your goal. If you have an aim to achieve then you must know how you plan to get it. A well-planned course of action is a compulsion if you have any intention to succeed.
3. Invest Time: Give your idea the investment it deserves. Money is not the only impetus that you require for a rapid growth. Your time is as important a resource as any.
4. Talk: Talk to people who are already experienced in your field of interest. Converse with them in great detail  about how they started off, how they managed the initial hiccups and what was the money that they required to fuel growth. Most people are more than willing to sharing their experiences and knowledge with you, the only thing left is to ask!
5. Be Abreast with Latest Trends: Be updated with all the latest developments in your field. Know how your competitors are evolving their business. What is the latest gimmick which they have applied to drive customers for their business. If you fail to keep yourself updated then you run the risk of running an obscure business.
6. Line up your Mentors: Mentors can be beneficial for you in two ways. Firstly and most importantly, they are among the most effective people to help you get and stay motivated while you run you enterprise. It may be sometimes easy to lose steam half way when you are running a business when the road gets tough. At this time, mentors can help you stay focused and inspired. Also mentors help you to network as they may have already built a large number of contacts over their years of experience.
7. Leverage your assets: Know what your strong points are. Understand your asset. An asset can be a person in your organization or a talent that you yourself possess. So when you run a startup online then be sure to optimize your strengths. As they will be a key point in your game of entrepreneurship.
8. Over Deliver: This point is regarding your customers or website visitors. They are your final point of outlet. So when you promise them a service, then provide them with more than they expect. This is a golden rule in business – online or off.
9. Research: Before you take the plunge into online business, do not underestimate your field and competitors. You have to research your field and also analyze your competition. This is important as you require to understand the playing field before you begin to play.
10. Keep Your Morale High: Never lose your focus on what you want to achieve. Some hiccups are an integral part of all businesses. So it is important that you do not defeat yourself mentally.

This is a list of dumb and bizarre ideas that made millions. It goes onto show that there are no bad ideas, only bad implementations.

Go through the list and see the audacity with which these entrepreneurs started up:

1)Doggles.com

Cool Dog

Creating and Selling goggles for dogs. What could possibly ever be more dumber than that? Still they managed to become millionaires. How it was possible is totally beyond me!

They also have a cheesy tag line for their product-

“Protecting One Dog at a Time”

How they hell do these goggle or doggles (whatever!) protect the dogs. They wont even see where they walk.

2)Milliondollarhomepage.com

Alex Tew

21 year old Alex Tew came up with an idea that if he launched a site with 100,000 pixels. Sell each pixel for $1, he would essentially be a millionaire. And he did become one.

His websites tagline was -

“Own a Piece of History!”

And many buyers lined up to buy each pixel of his site for a dollar. You have to check out the site to believe it. I was shocked at the things that can make you money online.

Alex also used to maintain a blog for the website until 2006, which he no longer updates.

3) PositivesDating.com

A dating site for HIV-Positive people to meet and date. Paul Graves and Brandon Koechlin thought for these date-less HIV positive people and came up with this site. Projected annual sale were around $110,000 and site is bursting at seam with members.  I personally find this service quite sweet and discriminating at the same time – a typical paradox.

4) SantaMail.org

Byron Reese is what you call a smart guy. He brought an address in North Pole, Alaska and offered parents a personalized letter for their kids as Santa Claus for $10 each. Reese has sent over 400000 letters since the start of the business in 2001. He is now worth millions.

5) Designer Diaper Bag

They have a very ‘cool‘ tag line as one may call it – “Diaper Duty in Style”

Christie Rein a 34-year-old mother of three found herself constantly stuffing diapers for her infant son into freezer bags to prevent them from crumpling. Fed up one day she and her husband came up with a custom made diaper bag that’s big enough to hold a travel pack of wipes and two to four diapers. With more than $180,000 in sales for 2005, Christie’s company, Diapees & Wipees, has bags in 22 different styles, available online and in 120 boutiques across the globe for $14.99.

Hope you enjoyed the list. Share your views below.