The Truth about Building a Business on the 'Net
By Angela Wu
Posted Sunday, July 11, 2004
We've all read claims of fast money; the alluring siren-call of the Internet 'get-rich-quick' scheme can be hard to resist.
Most of us have also heard the saying, "If it seems too good to be true, it probably is..." We know in our hearts that 'get-rich-quick' can't possibly work, yet we can't help but be intrigued by it.
Instead of pursuing the fruitless search for a quick and easy way to make money on the 'net, drill the following into your brain right now: There is NO SUCH THING as 'get-rich-quick'. You CAN earn a solid income from the Internet, if you're willing to put in the time, effort, and money.
Here's a quick summary for those of you who are thinking about starting a business online. Let's start with the disadvantages first, to get them out of the way...
- Hard work and long hours. Just like any business, building one online requires a great deal of effort. Most people do it while still working a full-time job elsewhere; you may find it hard to keep doing what you have to do when you're always 'exhausted'. - Always changing. What works online today might not work tomorrow. When you do business on the 'net you have to constantly 'keep up' or you may find profits beginning to lag. Educating yourself is a continuing process. If you hate change then the Internet is probably not for you.
- Need to be able to cut through the 'hype'. You'll find plenty of misleading promises on the Internet, many of which will tell you that there's some sort of 'magic bullet' to getting sales. There isn't. Sorting through marketing techniques that work and those that don't can be very time-consuming.
- Definitely *not* a quick-rich-quick scheme! Regardless of what you may read, the Internet is *not* the path to quick, easy money and not everyone will be successful online. An online business contains an element of risk, just like any other business.
- "Build it and they will come" does NOT apply to the 'net. Your web page is only one of billions. Learning how to get the *right* people to see your site is a tough job.
- Persistence is vital to your success. Just like with any business, there's a lot to learn. It's very easy to give up and try something else online... but playing 'biz op tag' isn't going to help you make money any faster.
That being said, there are lots of advantages for doing business on the Internet! It truly offers one of the best opportunities for the 'average' person to test their entrepreneurial spirit. Some of the advantages of being an online business owner are:
+ Affordable startup costs. You can get started with just a few hundred bucks.
+ Flexible. Because your work is done on your computer and from home, you get to choose when you work.
+ Possibility of more free time -- eventually. Some online businesses can be automated to a certain extent. Automation will help to reduce your workload and eventually give you more free time.
+ Testing and research are relatively cheap. Need to find out what your potential audience thinks of a product idea? Chances are, there's a message board (or a hundred) where your potential audience gathers. Need to research your competition? Use the search engines. There's so much you can do online for little or no money.
+ Exciting! If you thrive on change, the Internet is one of the best places to get it! You can experiment and test to your heart's content for minimal cost.
+ Ever-growing. Every day more people get 'connected' to the 'net. That means that your potential audience is always growing.
+ Multiple streams of income. You have the ability to sell lots of different products online -- including other company's products, in return for a commission -- which means that you can potentially earn several 'pay cheques'! A bunch of 'smaller' cheques may not seem like much on their own, but add them all up and they can become a solid stream of income.
+ Opportunity is everywhere! The Internet reaches a worldwide audience with a wide variety of interests. There are countless niches on which you can focus your energies!
Some people turn a profit within just a few months; others take years. There are lots of 'little guys' -- small, home based businesses -- who are happily and successfully earning a living from the Internet. Will you be the next?
About the Author
Angela Wu is the editor of Online Business Basics, an exclusive newsletter for eBusiness beginners. Visit (http://onlinebusinessbasics.com/) for tips on building a business on the web.
