While the internet opens up a new world of possibilities to those who need and desire to do business online, it is a sad fact that less than 3% of those who try this route will succeed.
At the time of writing, the internet is still a young platform at around 15 years of age. In recent years it has opened up a new world of opportunities, allowing Internet Profit to creep into more and more households.
Any individual in days of old who wished to try their hands at business were faced with many challenges, summarised by.
- pure and basic business skills
- infrastructure, usually comprising a premises, equipment, staff etc.
While this is still true, infrastructure costs can be considerably reduced by going online. Many online businesses can be run purely on an affiliate basis, requiring only access to the internet. Even website hosting and other associated costs are a fraction of the cost of renting a premises to do business in the brick and mortar world.
Much fewer staff are required if any. A very high percentage of online businesses are run by the owner themselves, and taking it a step further – a single owner can run multiple businesses quite easily !
Demographics. A physical business in the real world can usually only serve a limited portion of the community. By doing business online, the world is your oyster.
While the brick and mortar business usually only requires a basic business skillset, doing business online requires an additional set of online skills.
All in all, doing business online seems to be easier and by logical reasoning many more people should be able to make a success, yet the opposite is true.
Sadly, statistics indicate that of those who try to do business online, only 3% usually succeed. For what reason would this be ?
In my opinion, there are a few factors including, but not limited to :
1. Wrong expectations.
2. Lack of finance.
3. Lack of perseverance.
4. Not wishing to learn further.
The fact is that with any business the above is true. But for some reason folk seem to think that doing business online should be easy, cost them nothing, not require much effort and that they do not have to learn new things.
There are rewards for those who are prepared to do what it takes, but for others there is a rude awakening awaiting them.
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