Being the owner of an online business is one of the best feelings I know.
The startup costs are very small in comparison to starting a “dirt world” business. Before the Internet, setting up in business was a high risk activity. You could invest thousands in an idea that you really believe in only to find and nobody else believes in it. I’m sure you’ve heard the statistics : ninety five percent of new startups fail. Not a great figure, it has to be said.
I’m not saying that starting an Internet business is likely to succeed any more than a regular business but the risks involved are much smaller. You could start up fifty online businesses for the amount of money you may have invested in a real world business. That is quite a powerful fact. On the Internet you have room to fail. You just have to pick yourself up and try something else.
Another reason setting up an Internet business is a smart decision these days, is the fact that more and more people are parting with their cash online every single day. No, I’m not talking about credit card fraud, I’m talking about consumers starting to prefer the online experience to traipsing around a shopping center arguing with their partner! Or is that just me?
Many people are starting to trust online transactions and this can only continue. As a matter of fact, buying products online is a much safer activity than handing over your credit card in your favorite restaurant. So you trust that guy behind the counter do you? This increase in online transactions is good news for you if you’re looking to start an online business.
In 2005, for the first time, the Internet advertising spend overtook traditional media advertising. This is a hugely significant fact. Comparatively, companies spent more advertising online than they did placing adverts in print media, television and radio. This means that companies are beginning to see the power of the Internet and what it can do for their business.
Furthermore, a fantastic benefit to doing business online is the fact that in most cases, selling instantly deliverable products on the Internet such as ebooks and software provides a passive income for years to come. You set the business up once and it pays you over and over again. Does that beat working the 9-5 for forty years? ummmm … you bet it does.
Of course you do need to maintain your business, or businesses but compared to an offline business this pales into insignificance. You can easily maintain ten, twenty or even fifty online businesses every day. I should know, I have done so.
Something else to think about is that many investment companies are now looking online and they are buying web properties in ever increasing numbers. For them it’s a no brainer. If you can demonstrate that you are putting a certain amount of money in and realizing a certain return then you have a quantifiable business. Businesses which can prove they are in profit are selling for big money online at the moment.
This is only set to continue. Recently I saw one website sell for upwards of forty grand. This website has only been online for six months but the owner knew enough to be able to instantly create a profitable business. Forty thousand dollars! For you, maybe this is a lot of money but to an investment firm this is nothing. Especially if the business can create a thousand percent profit which many online businesses can easily do.
It’s an investment firm’s dream come true. Why should they have to rely on uncertain and downright dodgy investments when they can buy web properties which are almost guaranteed to turn a profit. In the years to come you will see many valuable web properties being bought and sold online. Now is the time to build your business.
In 2005 one guy sold four web sites for over five million dollars. He had owned these web sites for just over one year. He had been able to show a consistent profit over the twelve months and so had created a very valuable web property. Five million dollars may sound like a lot but these websites will have the potential to make way more than that over time. By the way, these were one or two page web sites.
You can easily create businesses for around one hundred dollars. You will have to invest another couple of hundred in advertising but if you do it right you could be turning a profit inside thirty days. Keep records for three to six months and sell your business for a massive profit. The best bit is, once you have sold your business you can do it all over again. You can even do it in the same niche if you like!
So now there is no doubt left in your mind that setting up an online business is what you want to do .. how do you do it? This is where the fun begins! There’s so much information out there that you will almost certainly suffer from information overload at some point. We’ve all been there.
However, most of this info is filler and misinformation. There are only three or four genuine tactics which you need to know about in order to profit handsomely online. To get more info on these strategies please see the resource box at the end of this article. Now go forth and profit!