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A Perspective on Online Business
By The Prof | December 16, 2007
No matter what your business venture may be, whether it is an online business or a “brick and mortar” business…
A business is an investment of time and money for a return on that investment.
But I don’t think that most people appreciate what the Internet has done as far as providing an income opportunity for “the average Joe”.
Before the Internet, if you wanted to establish a business, it was an expensive affair. Let me give you an example…
Let’s say that you wanted to start a travel agency in a small office in a strip mall somewhere. You couldn’t even lease the office for less than $600 per month with a 6 month lease (minimum). That doesn’t include:
1. A computer and Internet service
2. Utilities - phone, electric, etc.
3. Furniture
4. Advertising
5. Education and licensing
6. A merchant account
That’s assuming it is just you and you have no employees. Because it is a travel business, you have no physical inventory. Still…
A “traditional” business involves a significant investment and has a significant amount of risk associated with it.
An online business, on the other hand…
- Involves a fraction of the financial investment, which means less risk
- Can be initiated on a part time basis
- Can be profitable far sooner than a traditional business — without even having a product of your own
But here’s the rub with an online business…
- It requires skill and knowledge — you really need to know what you are doing before you even know how to build a website
- It still involves work and committment
- It involves implementing an online business model that attracts visitors and motivates customers
Unfortunately, there seems to be a popular notion that establishing an online business that will generate bazillions of dollars can be accomplished in minutes with little effort.
I’m here to tell you — that’s absolutely not true.
One of the biggest obstacles most people face in establishing their first online business is acquiring the skills needed to build a website in the first place.
That’s why endorse these “starter” educational resources:
But, I’ll tell you this:
Being able to create a website and slap it up on the Internet is not enough. You still need to have an online business model, determine your target market, know how you are going to get traffic to your website, know how to write decent copy, know how to build a list, and on and on.
As I reflect upon my own online businesses, the #1 expense I have had every year involved education — NOT web hosting, autoresponder fees, software, etc.
I will leave you with this:
An online business still involves work, commitment, risk and a desire to learn and improve. Fortunately, it involves less risk and less financial investment than a traditional business. And the rewards can be FANTASTIC!
Cheers,
Steve Roye
The Prof
Use the form on this page or go to http://www.webcashnewbie.com/create-website/ to get the free email education series called: “What You REALLY Need To Know Before You Create A Website Of Your Own”.
Topics: Before You Create A Website... |
December 19th, 2007 at 10:08 am
Great post. Education is and always be my biggest ongoing expense. Whether it is a book from Amazon, an online product or getting out to meet people at a seminar it is always a large part of my budget.