Don’t Believe the Hype About Online Business

Running a online venture is so easy anyone can do it – sitting around in your pyjamas answering a few emails – right? Making money whilst sipping a margarita on a sunlit beach is everyone’s idea of a successful business – but is it all hype?

I hate to break it to you but to make an online business successful, you need to realize that hype is just that – hype. Let’s explore some common misconceptions:

There’s less competition – Compared to traditional businesses, competition online is fierce and fast. You have 3 eyeball seconds to interest your customer in your offering. They can move on with the click of the mouse and they will, unless you can draw them in to enjoy your particular brand of the online experience.

There’s no overhead: The only overhead you don’t have in online business is retail rent, that is if your business sells products. Unless you are running your business out of your home, which is a great way to start, your business will need premises eventually as well as staff and all the other business tools traditional businesses use.

There are no barriers to entry: It’s true that anyone can start a website, but making it successful does have barriers to entry. For example:

  1. Trust – Many consumers still don’t trust websites, how will you build trust in a sea of websites?
  2. If you build it, will they come? – It takes time for a website to list on search engine results. In the meantime, how will your customers know your website exists?
  3. Difficult Suppliers – Each industry is different but some suppliers will refuse to sell to you when they find out you’re online.
  4. Price – Remember my first point about competition? Price comparison online is easy, and the switch for a $2 saving is just a mouse click away.

I can work in my pyjamas: You will definitely work in your pyjamas, late at night catching up with overseas suppliers in a different time zone!

I won’t need to pay anyone: If you want to start an online business, chances are that you are awesome with computers. But what about HTML, SEO, eyeball seconds, conversions vs. visits, abandoned carts, FTP, API, product feeds? Eventually, you will need to hire an expert or two.

Don’t get me wrong, I love online businesses and there will be points in the life of your online business when you have a clear advantage over the bricks and mortar competition. But the truth of it is that a successful online business still needs investment in time and money, commitment, passion and a drive to solve problems quickly.

The good news is that there are solutions to every business problem, so if you have a passion for online business then I say go for it! Just make sure you enter the sector with your eyes wide open, plenty of investment dollars, time, patience and a willingness to see past the hype – in the end it’s worth it.

Has There Ever Been A Better Time To Start An Online Business?

With the economy on the rise and unemployment at its lowest for a number of years, together with the fact that online sales are growing significantly year on year, the answer would seem to be No. There has never been a better time to start an online business!

Having said that, there is talk of economic growth starting to stall in certain parts of the world, so what’s the answer? Well the reality is that there will never be the perfect time to start a business whether it is online or offline and if you are waiting for everything to be just right, you will be old and grey and still waiting.

Online business is certainly the growth sector at present and looks set to continue for the foreseeable future. It is also a viable addition to the marketing channels for many offline businesses.

In a recent study carried out by the Centre for Retail Research, which looked at eight European countries and the USA, it was estimated that combined online sales for 2014 would be in excess of $518 billion (€379 billion). Which is an increase of 18.1% over the previous year. As far as Europe is concerned online sales are strongest in the UK, France and Germany, who together account for 81.3% of purchases.

In terms of online sales as a percentage of retail sales, the UK currently tops the league table with 13.5%, followed closely by the USA on 11.6% and Germany on 9.7%.

This impressive growth has been fuelled by the increase in mobile shopping using smartphones and tablets, which in 2013 accounted 8.3% of online sales in Europe and 13.8% in the US. These are final transaction figures, browsing numbers are considerably higher. After all it is worth remembering that the world carries the Internet around with them in their pockets and bags nowadays, making browsing and buying online ever easier.

With a market of this size and projected growth rate, it’s almost goes without saying that online business is here to stay for the foreseeable future and offers an unrivalled opportunity for those who are either looking to start a business or to expand an existing enterprise.

Of course this does not mean that everyone who decides to start an online business will be successful. There are record numbers of start-ups and closures in this arena. For those who make it though, the rewards can be staggering.

So how can you ensure that you are one of the winners rather than the losers? Well a good place to start is by following some of the tried and tested rules of business. Your chances of success both online and off are greatly improved if you choose a business sector in which you have previous experience.

However if you choose to venture into an area outside your range of knowledge, make sure that you get good advice on how to proceed. Again the success rate is greatly enhanced if you are advised and mentored by someone who has been there, done it and knows what works and what doesn’t.

5 Reasons Why An Online Business Is The Best Home Business

Over recent years, people from all walks of life have had their entrepreneurial spirit sparked into looking for the easiest business to start. The recessionary climate and increasing unemployment levels mean millions of people are waking up to the fact that they need to take control of their future. To do this, new entrepreneurs want good businesses to start so that they can generate a new and sustainable income stream.

So what is the easiest business to start? It’s sensible that the best business to start will have the least expensive set up expenses, they will have services and products that people want to buy and will have the biggest possible client base. Welcome to the world of online business! It’s not a secret that a growing number of people are purchasing products and services online because of convenience, choice, cost and service. Starting up an online business and joining the thriving e-commerce world really is easiest business to start.

1. Low set up costs.

The beauty of starting an online business is that the start up costs are very low as compared to a conventional bricks and mortar business. Starting conventional business requires substantial investments in human resources, inventory and financial capital. Industry is becoming more information-intensive and less labour and capital-intensive.This means that more and more traditional barriers to success in business are being removed.

2. You do not need to have your own products.

An online business is the easiest business to start because you don’t even need to have your own products to sell. In fact, you don’t have to stock any products, set up payment systems or worry about distribution or product fulfillment. This is possible with one of the most popular and best home business models called affiliate marketing.This is where you promote and sell other people’s products. It’s like being an online commission-paid sales person. When you make a sale, you get paid a commission.

The creator of the product is responsible for the whole development and fulfillment of the product. They will supply the marketing resources, manage the product delivery and follow up customer assistance. Your task is to find the customers and push them to the vendor’s online sales pages. There is an almost unlimited amount of products, services and online business ideas that you can promote this way. You can become an affiliate for services and products available on websites such as Amazon, CJ Affiliate, ClickBank or JVZoo. You can sell any products you want and receive commissions on every sale.

3. Your business is open 24/7 to customers all over the world.

One of the best advantages of an online business is that you can work from anywhere you want so long as you have a computer and access to the internet. The internet makes it possible for you to have customers from all over the world meaning that your business can quickly grow. You are not restricted to finding customers who live near to you. When you have an online business, your business is open all day long, 7 days a week, 365 days a year. You can literally earn money while you’re sleeping.

4. Use software to your advantage.

The great reasons for starting an onlne business is that a lot of tasks can be automated. For example, it is important to introduce your business to prospective customers, maintain contact and build relationships with customers and send out special offers. This can easily be done with email autoresponder marketing software that works on autopilot. An autoresponder works day and night for you, while you concentrate on other aspects of your business.

5. Easy access to training.

Although an online business is the easiest business to start, it’s possible that you will need guidance with certain areas at some time or another. To help you, there are a wide variety of high quality online business training programs available on the internet. Your journey to success will be quicker if you make an investment in your online business education. Remember that you can learn as you earn. Learning from a successful person who has gone before you can make a big difference to your business. They can precisely evaluate your efforts, help you make progress with your marketing and profits and explain the way around stumbling blocks.