When you think of chess, The need for strategy is apparent. The same can be said about running an Internet business. That is something Drew Sharma knows a lot about.
Sharma got hooked on building web-based businesses when he sold multiple businesses, including InkCartridges.com in 2009 to a large e-commerce company, beginning a winning streak of numerous other acquisitions. “This validated the model of building businesses by acquiring and developing strategic domain names, then gaining traction and reach with search engine optimization and other means,” said Sharma, whose latest venture is Cookies.com.
Sharma says the biggest challenge to developing an e-commerce site is “the waiting game.” “Even before you have revenue, you need to build and grow your website. You can go a year and a half just shoving coal into the fire without getting anything in return,” said Sharma, who said often the tipping point comes about 18 months, when the fruits of labor finally start paying off.
Photo by liz west