How do you choose the right online business ideas for 2011 ? Slick sales letters promising the life of luxury it can be difficult to identify the opportunities from the opportunist. A quick set of ideas to use when evaluating an online business idea provides a method of measurement. Consider my score card for grading your online business ideas for 2011.

Revenue Options - How will it make money? Is there potential for multiple revenue streams? For example a main revenue stream perhaps product sales or membership, secondary revenue streams such as advertising or affiliate programs etc. The more revenue streams obviously the better.

Are you passionate about what you have to offer? Your existing experience coupled with your enthusiasm will show in what you do and provide rewards in addition to monetary.

Market Saturation - Search your idea, product or membership offering and understand who is offering something similar. There will undoubtedly be high number of results, which is to be expected, but you need to understand what will make you different, your NICHE.

Target Market - Who will your customers be? How many possible customers are there? Do the customers have the spending habits to buy what you will be making available? Think of a $1,5000 solar blanket to keep homeless people warm during the winter in theory is a noble idea, but would your consumers be the homeless who do not have the ability, would it be the charities and they find business money or or is it joint ventures with corporations. Understanding not just who will be benefiting from your product but who will be paying for it and if the ability exist for them to pay for it is key.

COST - start up expenditures, maintenance cost, marketing expenses, legal expenditures, insurance expenditures there can be a long list of expenses depending on the online business idea. What will your return on investment be and what are you are basing this on? Do you expect to spend $50.00 on start-up and 0.00 on promotion, how will you generate income? It is key to error on the side of caution assume everything will cost twice as much as you think, and that you make 50% less than what you intended.

So if you might be trying to decide on an online business idea print the sentence below and keep it by your side or save the environment and paste to word. It will provide some insight on deciding the perfect online business idea for you!

Multiple Revenue Streams combined with Knowledge and Passion with a Niche that has a Target Market to support it and it is not over saturated at an Acceptable Cost to Develop.

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