Editor's Note
03.08.01

Best Wishes,

Killer Secrets on Developing Your Own Web Portal

1. First of all, determine your area of interest and a niche
market that has potentials. Choose an area that would utilize your
existing resources, knowledge and expertise.

2. Research and study scope of your market. If you serve
both domestic and international markets, your will have a stronger
chance for survive. If you only serve domestic, find out what
services would make your business more competitive.

3. Clarify the scope of your business and ask questions
before opening your checkbook. Do you have efficient resources
available to build a B2B or B2C portal from the scratch? Do you
need to leverage current website, customers and sales staff to
produce additional revenue? Do you want to do all IT functions
in house or should you out source? Do you have a sufficient
revenue-generating model? If you are running a one-person
operation, do you have enough time and technical skills?

4. Identify your clientele and need to come up with some
unique ways to attract your customers and keep them coming back.
Remember, content is king!

5. You are running a portal for profits. Identify and develop
some solid revenue models. In the past, it has been proven that
banner advertising model and transaction model may not be as
effective as expected.

7. Develop your portal site with free or low cost tools. Some
of web tools can be found at DollarTemplates.com. Hire a freelance
consultant or offshore consultant to work on your portal project.
It is much cheaper than hiring a full service consulting firm.

8. Develop your portal site structure and service offers. For
instance, a B2B portal should include Storefronts and optional
classifieds, auctions, and request for quotes (RFQ’s) serve their
needs. Community features should have online polls, mailing list
management, real-time news feed. They provide a highly profitable
and competitive offering in most vertical portals. User
personalization can also make your portal "sticky."

9. Manage your finance efficiently. Forget about free
lunches or parties. Start with solid budget plans and spend
your money wisely and carefully. Market your portal site by
forming strategic alliances with other websites rather than
spending hard-earned cash.

10. Many startups fail because of their poor management.
If you want to start with low risk and low budget, consult
with freelance consultant rather than hiring a consulting firm.
Freelance consultants offer services and expertise at very
reasonable rates. If you think about seeking venture capital to
jump-start or strengthen your project, you may get a sample
plan "B2B DotCom Startup Company Business Plan and Executive
Summary" at the B2B Resources Center at
http://www.SmarTechLab.com/b2b.htm. However, it is very
difficult for a dotcom startup to get VC funding now.

In conclusion, it has never been easy to build a sound and
successful dotcom operation, but keep your dream alive by
working hard and working smart. Money will eventually be
pouring in.

About the Author:
Brian Su is a senior consultant of SmarTechLab.com - an
Illinois-based consulting firm that specializes in e-business
marketing strategy. He also manages a popular microportal at
http://www.DollarTemplates.com that provides pre-made web
templates and technical resources to growing businesses around
the world.

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