Your Questions About Internet Business Models

Jere answers:

You are the only one that can figure that out as every situation is unique. You need to find an unmet need that is also something you like to do. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and write a business plan to prove that the business idea is workable. Go to http://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

Jere answers:

I suggest you to read this website thoroughly:
http://www.craftsadvisor.com

I hope it helps you a lot!

Jere answers:

Don’t listen to them. I’m 17 as well, and I’ve been studying HTML, CSS, PHP, MySQL, and Javascript completely on my own for the past 3 years with the intent of opening up a successful business. I’ve been told hundreds of times that I’m over my head. Simply don’t listen to them.

And DO NOT give up on something like this. Did you know that the creator of Facebook made it while he was in college, and its purpose was so he could just keep in contact with his college friends? Now look where it is!

Whatever your idea is, if you know that it’s unique and stands out from the rest of them, I say go for it. It’s never too early to invent something ingenious.

Jere answers:

Online banking usually offers such features as:

Bank statements, with the possibility to import data in a personal finance program such as Quicken or Microsoft Money
Electronic bill payment
Funds transfer between a customer’s own checking and savings accounts, or to another customer’s account
Investment purchase or sale
Loan applications and transactions, such as repayments
Account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.
There are a growing number of so-called virtual banks that operate exclusively online. These online banks have low costs compared to traditional banks and so they often offer higher interest rates.

Protection through single password authentication, as is the case in most secure Internet shopping sites, is not considered secure enough for personal online banking applications in some countries. Online banking user interfaces are secure sites (generally employing the https protocol) and traffic of all information – including the password – is encrypted, making it next to impossible for a third party to obtain or modify information after it is sent. However, encryption alone does not rule out the possibility of hackers gaining access to vulnerable home PCs and intercepting the password as it is typed in (keylogging). There is also the danger of password cracking and physical theft of passwords written down by careless users.

Many online banking services therefore impose a second layer of security. Strategies vary, but a common method is the use of transaction numbers, or TANs, which are essentially single use passwords. Another strategy is the use of two passwords, only random parts of which are entered at the start of every online banking session. This is however slightly less secure than the TAN alternative and more inconvenient for the user. A third option, used in many European countries and currently being trialled in the UK is providing customers with security token devices capable of generating single use passwords unique to the customer’s token (this is called two-factor authentication or 2FA). Another option is using digital certificates, which digitally sign or authenticate the transactions, by linking them to the physical device (e.g. Computer, mobile phone, etc). While most online banking in the United States still uses single password protection, the FDIC has issued regulations requiring that banks implement more secure authentication mechanisms by the end of 2006.

Banks in many European countries (including the Scandinavian countries, the Netherlands, Austria and Belgium) are offering online banking for e-commerce payments directly from customer to merchants.

Jere answers:

It’s just one more gear in our police state cog bro!