e-Business: Is It Worth It?

What is e-business?

     e-Business is a business that is operational on the internet. It is designed to make the business more accessible to their potential clients that plan to do business with them. The main point of an e-business is for a reduction of operating costs while reaching out to a broader audience. While you can reach out to a broader audience by listing online, not everything comes free as some people might have associated e-business with. The fact is, there are operational costs associated with it. There needs to be constant funding that's needed in order for this advertising approach to work. Many believe that you could just leave it alone and fact is, you could... if you want it to be reached out to a limited audience. Sites need to be constantly maintained in order for it to take full advantage of the advertising base.

Viable? 

     I believe that doing business through e-Business is a viable option. It has a potentially lower running cost if done right, while reaching out to a broader audience. However the fact of the matter is that there needs to be continued maintenance of the website in order for it to be of full effect. With that said, as long as one maintains their e-business online, they should be able to attract many clients and become a viable business like many.

19-year-old Entrepreneur Summary

     Brain Wong is a 19-year-old UBC grad who has started up 2 ventures. He has been granted $4 million in financing for his venture Kiip, an advertising business model for gaming. This business model works to reward gamers with prizes. This would both benefit the receiving end, consumers, while generating advertising revenue from doing so. Generally, this is to "reward" the players for their achievements with something material, while generating awareness for the several products that will be avaliable from this business. I believe that this is a venture idea that could potentially become the next milestone in gaming. Mostly because of the advertising revenue it would generate because of the consistent message that gets across to the gamers; prizes are awarded for achievements.

     With several entrepreneurs succeeding, technology related industries seem to be the area of interest for young entrepreneurs for several reasons. In this day and age, people are most likely to consume their media by television, internet and telecommunications. With Kiip, it sets a good example about how it comes into play. People are gaming and they don't want to get distracted, however advertising agencies want to advertise somehow. Kiip gives people the awareness of products, offering them for their achievements, while making the advertising agencies happy. Most of the money made now a days are through technology. There's a reason why the iPhone is the best selling Smartphone and why Facebook is the most used social media network. It's mostly generated by the convenience that one may have through using these services and products.