Should You Start an Online Internet Business?
Every 50-100 years the business environment around the world transforms. Most currently living adults experienced the Industrial Revolution and the Second Industrial Revolution known by some as the Technological Revolution. With these transformations, the opportunities for business and entrepreneurship changes drastically. In the late 20th Century, what I call the Information Revolution started. What an average person could research, learn, and know started to explode exponentially. The Internet started to become the information highway; it was being introduced to every household in the developed world. Early in the development of the public Internet, people began to realize its marketing value. Virtual stores began popping up everywhere; people started buying everything online. All major wholesalers, retailers, and even “mom-n-pop-shops” went “virtual”. Shortly after the turn of the century, this “web” of information and business marketing flood flowed rapidly into nearly every country in the world, and in 2010, transformed into over 1.9 billion Internet users.
Over past three years, because of the worldwide economic meltdown, more and more people began searching for alternative incomes streams to sustain their lifestyles. This resulted in 1000’s of people turning to the Internet. The home based Internet business industry started to boom. An online business is very attractive for many reasons:
* Minimal to no overhead expense
* No inventory
* No payroll
* Ability to work from anywhere in the world with an Internet connection
* Ability to set own work schedule
* No more commuting or paying outrageous fuels prices to get to work
* No more boss(es)
* Income potential is limitless
There are currently an estimated 30,000,000 online home business owners; however, the successes of these businesses remain lopsided with less than 5% earning $100k per year or more. In fact, most online business owners are losing money instead of making it, and 97% of online businesses fail.
The reasons for such a low success rate is not failed opportunities, it is failed people. Too many people think that running an at home Internet business will be “easy money”, and they don’t look at it like a real business.
Think about. If a person desires to open a restaurant (or any other type of brick and mortar business), they would have to invest tons of money, conduct feasibility studies, acquire the property, buy equipment/furniture, hire and train staff, and market it. Then they would spend every waking moment applying the time, effort and energy needed to ensure success and obtain a return on the investment. This is all assuming they already have the expertise and business mentality to run their business.
Starting an online Internet business is different in that all that is really needed is a computer with internet connection, and the upfront investment is substantially less. But, everything else in running an online business is the same. An investment of money is required and at first, a commitment to devoting significant attention to the business’ success is an absolute must. Also, with the ever-changing Internet, constant education, research, and evaluations are required to stay on top of the industry.
This is where most online entrepreneurs fail. They don’t have the business mindset and commitment necessary to be successful. Additionally, they don’t have the know-how.
To make it much worse, those who are searching the Internet for online opportunities often fall prey to the many hyped-up Internet home business schemes and scams that flood the top of most search engines. Very talented people, with a great understanding of the buyer’s psychology and who have great writing skills are luring people to opt-in to their websites, join their programs, invest money, and then leave them unattended with nothing but less money in their bank accounts and a lot of frustration.
The good news is that NOT ALL business opportunities are schemes and scams. As a matter of fact, there are a handful of really good groups of people who are extremely successful and have already suffered all the pains of failure so that newcomers don’t have to. The trick is to find these groups. Who are they? How do we know if they are honest? Are their programs real or just more schemes?
To answer these questions, the online entrepreneur must conduct a thorough vetting of the opportunity that they are interested in. To do so, answer these basic questions:
* Are there real people that I can contact that are currently where I want to be someday? It is insane to join a group that you can’t personally talk to.
* Can the organization provide credible affidavits to support their income claims/testimonies? If you ask for this and they can’t provide, assume their claims are just “hype”.
* Is the organization transparent with what it is offering? Don’t get suckered into paying for anything until you know what it is that they are offering you.
* Does the organization encourage you to conduct vetting before joining them? A quality organization will give you the opportunity to research their validity before buying their product. Many times they will require an application first and this is o.k.; they want to vet you as well before their coaches invest time into you.
* Does their advertisement make claims that you will become rich very quickly? This is a clue that they will only take your money, send you a bunch of junk, and kick you to the curb; then blame you for your failure.
* Does the organization provide you with a thorough training program that will teach you every step to success? This should include a detailed support program that includes mentors and coaches.
Now to answer the question in the title; “Should I Start and Online Internet Business?” First answer a few questions yourself. Write these down and answer them honestly:
* Am I unemployed, stuck in a dead end job, or fed up with working for the “other guy”?
* Am I earning the income that I deserve and that my family deserves?
* What are my goals, dreams, and desires?
* If I have a deathbed experience at the end of my life, what will I look back and say? I wish I had…? I wish I spent more time…? I wish…?
* Can I seriously commit to starting a business and seeing it through to the end? (if this answer is a “no” or “maybe”, DON’T start a new business)
* What would I do if I could earn $30k, $60k, $100k, or more every month? Who would I spend more time with? Who could I help? Where would I live?
* Can I find the resources needed to get my business started? (a poorly funded start-up business takes 10 times the effort to succeed)
You’ll notice that some of these are very personal questions. The reason they are there is to help you evaluate yourself. Do you really have an entrepreneur spark that allows you to see past your current circumstances? That is very important because, if you don’t, you should not waste your time and money chasing an unrealistic dream. Running your own business is simply not for you. However, if you answer these questions positively, you may have what it takes.
The Internet is DEFINITELY filled with opportunities that can provide a serious entrepreneur with an amazing lifestyle. It’s right at our fingertips (literally) and it is not hard. If you think you have what it takes to start an online Internet business, do your research and due diligence and get started…the timing is perfect right now.
If you read this article and can share how it helped you make your decision, please write and let us know…we’d love to hear from you.