Welcome to the Young Entrepreneur Forums

jon#1 · 03-18-2006, 11:24 AM

After all the advice that I have been given, there has been one thing that alomst everyone that I have spoken to has said - do something that interests you!

With this mind, I am looking at setting up my own online entertainment business, selling CDs/DVDs as well as computer and console games as I usually spend most of my spare time either listening to music, watching TV/films or playing on my computer...

Having said this, I am aware of the huge competition that I would face from current online retailers such as PLAY.COM, CD-WOW and also the large supermarket brands that have now started to sell these kinds of products.

So can anyone offer me any advice or innovative ideas as to how I can make my online business a success?

If you can help, please feel free to post here, PM me or send me an e-mail: jonathan_mark_davies@hotmail.com

(NOTE: If you do decide to reply via e-mail, please use 'Reply to Young Entrepreneur Forums Thread' in the subject heading, as I have a tendancy to delete messages by accident...)

Regards,

Jonathan Davies.

akula · 03-18-2006, 11:43 AM

gaming is an industry most pregnant with opportuinity.

we are gonna see billion dollar businesses emerge there.

Bored · 03-18-2006, 01:19 PM

Quote:

Originally Posted by akula

gaming is an industry most pregnant with opportuinity.

we are gonna see billion dollar businesses emerge there.

I also believe that competetive gaming will be a huge industry in the future. Big tournaments attract professionals and professionals attract fans or more gamers. You should maybe look at this aspect of gaming. Set up local tournaments with big prizes, and get some computer companies to advertise in your tournies.

toptemp · 03-18-2006, 08:27 PM

Think niche.

GriZzly · 03-19-2006, 02:35 AM

Quote:

Originally Posted by akula

gaming is an industry most pregnant with opportuinity.

we are gonna see billion dollar businesses emerge there.

Little over the top with the pregnancy analogy, you couldn't have just said it was fertile? lol

akula · 03-19-2006, 03:17 AM

Quote:

Originally Posted by GriZzly

Little over the top with the pregnancy analogy, you couldn't have just said it was fertile? lol

just got a visual.....professor grizzly

Ashur · 03-19-2006, 04:37 AM

heh that made me think...

Are brothels legal in your city?

jon#1 · 03-19-2006, 10:26 AM

Thanks for all the comments so far, however, I am not considering the gaming side of things as yet because I wanted to focus on the retail...

Anyways, keep the suggestions coming if you have anything to contribute.

jon#1 · 03-21-2006, 03:20 AM

Ok, so I have been thinking about it a bit more, and have come up with a possible name for my online retail company. The company itself would be called Entertainment Heaven Ltd, and would use www.EntertainmentHeaven.com as its website. As I have said before, it would specialise in the retail of CDs, DVDs and computer/console games, as I believe that these are the mediums from which people obtain most of their 'entertainment' from, however I would welcome any further advice, feedback, ideas and/or suggestions.

akula · 03-21-2006, 04:50 AM

Quote:

Originally Posted by jon#1

Ok, so I have been thinking about it a bit more, and have come up with a possible name for my online retail company. The company itself would be called Entertainment Heaven Ltd, and would use www.EntertainmentHeaven.com as its website. As I have said before, it would specialise in the retail of CDs, DVDs and computer/console games, as I believe that these are the mediums from which people obtain most of their 'entertainment' from, however I would welcome any further advice, feedback, ideas and/or suggestions.

Ok, I'm a friendly guy, so here's some friendly advice:

Play it smart. Do home theatre installation and support. That's where the media business is going and that's where you need to be if you wanna get bought.

The market for people who want to merge their TV and computer is where you want to be.

Find out what you can about the MS Media Centre, X-Box 360s, specialty made gaming computers, Sling Media Boxes and a whole bunch of other hardware that's coming out.

Repeat, do home theatre installation, install multimedia hardware in shopping malls or install multimedia hardware in cars. These are the growth markets where you can get a competitive advantage and market share. You will also have better chances of survival because of higher margins, and higher incremental revenues.

Retailing CDs would be an inefficient allocation of resources on your behalf. It's the wrong business to get into because it's in decline, and because there are people out there who can do this a hell of a lot better than you ever could. Go there, but change your surname to Kamikadze when you do.

Now....something to get you riled up:

Stop making stupid decisions, follow market trends and place your self where the money is. Selling CDs was a growth business in 1980. This is not 1980.

As a general rule of thumb, get the word "retail" out of your vocabularly. If you want to have a decent run at being sane for the next couple of years, always do wholesale.

jon#1 · 03-21-2006, 07:46 AM

Quote:

Originally Posted by akula

Repeat, do home theatre installation, install multimedia hardware in shopping malls or install multimedia hardware in cars. These are the growth markets where you can get a competitive advantage and market share. You will also have better chances of survival because of higher margins, and higher incremental revenues.

Retailing CDs would be an inefficient allocation of resources on your behalf. It's the wrong business to get into because it's in decline, and because there are people out there who can do this a hell of a lot better than you ever could. Go there, but change your surname to Kamikadze when you do.

As a general rule of thumb, get the word "retail" out of your vocabularly. If you want to have a decent run at being sane for the next couple of years, always do whol