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Jan 15
2008
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Many people these days want to make a living online. Online business has become some sort of a fad. Though having an online business is a great thing (and I speak from personal experience), turns out that many people find barriers to entry, here are some points to consider if you want to start an online business:
1. You need to have either the technical skill or the money to build the website.
2. You need to find a product that people want to buy.
3. You need to continuously educate yourself and keep updated in the online world, things change often.
The first barrier to entry is usually the biggest one. People want to go online but do not have the budget to build a good website that would actually get customer to buy and then continue the work to promote (exactly like an offline business) to get more customers to buy the products. Truth be told online and offline: the business that has the biggest budget to acquire a customer will always win.
The second problem is very common even in the offline world: the research for a viable product or service to sell online. The considerations though are sometimes slightly different online than offline.
The third problem is easily overcome by persistence; this is a great entrepreneurial skill. That said, not everyone has the skill or wishes to acquire it. Online unfortunately things change faster and more frequently, whether promoting or updating a website, changing SEO strategies or social media strategies in the online world it is critical to keep up to date (otherwise the website, which is the business, slips away and the competition wins).
If you are considering entering the online business world, think to yourself if your idea would work offline. If it wouldn’t then why do you thing it would online?
