One of the most common questions I get asked every day is ‘Does an online-based work?‘ and it’s a very good question and one that requires a bit of clarity to proceed.
ONLINE-BASED BUSINESSES EXPOSED
Whenever you talk to most people about an online-based business they immediately think of some kind of scam. This is mainly because back in the old days when the Internet first started there actually were quite a lot of scams and many people got caught by them and lost a lot of money.
So I have no problem with people being cautious, but times have changed and the online operators have now made it their mission to get rid of all the scams out there so that only good legitimate businesses remain.
Whenever change happens it takes everyone a while to catch up and only really now are more and more people coming back to the Internet to look at starting their own business. You see, online business is no different from offline business in regards to its concepts and procedures.
The reason most people fail at online business is that they see it just like it was some kind of scam thinking that they will make a lot of money without much effort. This is an urban myth and the only real way to make money with an online business is to treat it exactly like any other business.
It requires time, dedication, and daily action to make it work, and just like any other business on the planet, whether online or offline, if neglected it will ultimately fail.
There are however some major differences between an online and offline business and so let’s take a look at some of the major key points.
ONLINE-BASED BUSINESS VS. OFFLINE-BASED BUSINESS
Let’s take a look at the 5 major key differences between online and offline business:
- Everything happens much quicker online so if you get something right then it can start to make good money for you fast but equally, if you get it wrong then you can go out of business quicker than lightning.
- Online businesses have much fewer overheads as there is usually no need for rent, utilities, and other such expenses
- Offline businesses usually have employees whereas an online-based business will more likely use affiliates to promote and work with them hence reducing costs
- Online businesses can target a much greater audience in a shorter space of time than offline.
- You can usually get your return on investment online much quicker than offline due to the automated facilities that the online world provides.
ONLINE BUSINESS AFTERTHOUGHTS
So why would you want to run an offline business at all you may ask? Well, it’s a good question and it may be the case that in 10-20 years there will be very few offline businesses left. I think the human nature to want to touch, feel and see things with their own eyes will prevail though and so it may not be the case but either way, there is a world of opportunity out there to be discovered online.
You just need to make sure you get accurate information and most importantly, work with a mentor who has been there before you because ‘Success Leaves Clues’ and so you should leverage the time and resources of an industry leader to get you to the next level in the most efficient and timely way.