It is proposed that the incubator focuses on supporting online businesses, such as:
- Online blogs.
- Affiliate marketing.
- Online stores e.g. drop shipping.
- Service-based businesses e.g. SEO, graphic design and development.
- Influencer marketing.
What all these businesses have in common is a low barrier to entry and phenomenal upside. TotalCrypto’s experience of online businesses is that aspiring entrepreneurs commonly fail into the following traps:
- They create a product that is not needed or that there is not significant demand for.
- Entrepreneurs give up on traffic acquisition via SEO too soon or are not aware of strategies to make SEO work quicker e.g. buying aged domain names.
- Many aspiring entrepreneurs do not have a support network to mentor or advise them on how to optimise their business.
- Most business owners overestimate what they can achieve in the short-term and chronically underestimate what can be done in the long run.
- Most are not willing to accept they could be wrong and learn new business strategies that could help them achieve success.
TotalCrypto believes that with a careful incubator selection process, the right work ethic from incubees and support from incubator contributors, that successful online businesses can be established over time. The initial learning process is expected to be steep. However, TotalCrypto thinks it is possible to unlock the potential of people living in communities in economically challenged nations and that writing these people off as incapable would be incorrect.