Small Business

Online Business – The Naked Truth

Posted on: May 1, 2010

Making Money Online is a really HOT phrase these days. It’s one of the most popular search phrases for on Google, MSN and Yahoo! It conjures up images of being able to sleep in on a lazy, rainy Monday morning, or taking a leisurely stroll in the park, knowing that your online business is raking in the cash! It’s about being free from the volatile job market and having the financial and personal freedom to work anytime, anywhere, anyway you want. But at the back of your mind, you’re asking yourself, “Is it really that easy to set up an Online Business?” Well folks, the answer is YES… and NO. If you’re considering joining the millions of folk who are clicking on the net hoping to make a quick buck, here are a couple of YES’s and NO’s you need to know:

It’s easy-peasy to set up an online business

YES! – Setting up an online business is ridiculously easy these days. Technical innovations make it possible to have your business up and running in a matter of minutes complete with a ready inventory of stuff “guaranteed” to make you tons of money.

NO! – It’s what comes AFTER the setup that’s difficult. Other than the fact that your business operates in cyberspace, everything else about running an online business is the same. You still need a business and marketing plan, advertising and promotional campaigns. It takes hard (brain) work – initially at least!

I’ll be swamped with orders from all over the world!

YES – The beauty of an online business is that your market world-wide! Even if you manage to sell an e-book for only 10 dollars to a fraction of this market, you’d be a very rich man/woman indeed!

NO! – Setting up a website is pretty much like building a hotel on an exotic island. You may have the best beaches, services and products, but nobody’s going to know you exist until you shout it out to the world. That’s probably the hardest and most frustrating aspect of promoting an online business. Building a substantial web presence can be expensive if you want it done quickly OR a long, lonely and tedious journey if you’re on a budget!

Tons of people will visit my website!

YES! – If you have a VERY unique website, product or service, people will quickly pick up on it and you will see other websites and sources driving (people) traffic to your site.

NO! – One SEO (Search Engine Optimization) report estimates that Google well over 5 billion web pages a day! Yours is probably one of many thousands (if not millions) vying for that coveted top spot in search rankings for your category. Unless you have professional SEO people looking into this for you or you are into SEO, you will probably be languishing in page 20 or more for quite a while. Be prepared for this!

Making money online is dirt cheap

YES! – You can get by with free or cheap web hosting, free email, and a battery of free tools to run your online business. There are many people who have made millions with very little investment, but these are the EXCEPTION rather than the rule.

NO! – Eventually, as your online business grows, you will require specialized services like faster web hosting, autoresponders, link management and SEO tools – just to mention a few. The online business arena is a fiercely competitive one where you will be competing with the big boys so you have to be prepared to invest in your online business. It takes money to make money.

My online businesses will guarantee me passive and residual income

YES! – If you’re hardworking, persistent and you approach your online businesses with the same fervor as you would your career, the results will be quite pleasing indeed, hopefully not just for yourself, but for your family and generations to come!

NO! – Statistics show that about 85 % of people who attempt to run an online business eventually give up after a year. These are the folk who either went into it believing the promises that riches will come quickly (and easily) or those that just gave up too soon.

I can relax while my online business makes me tons of money

YES! – Like I said, if you’re persistent, done your homework and invested in technology to automate your online business, you WILL be sleeping in on a lazy, rainy Monday morning and taking long leisurely walks with your kids in the park while others are stuck in a job they hate!

NO! – Like every successful online business owner, you WILL hunger for more success! I love the fact that online businesses allow you to be anywhere in the world at any time of day, to make money! Once you get into the groove, you’re not going to want to sit still while there are money making ideas floating around in that brain of yours!

Multiple streams of income IS possible

Too many people believe that building multiple streams of income is as easy as setting up a website. The truth of the matter is that it takes a conscious and consistent effort to make things work. Many people fall into the trap of trying to do too many things at once. They join a bunch of affiliate programs thinking that they’ll be able to work on all of them at the same time.

Most successful Internet Entrepreneurs will tell you that the best way is to work on one specific online business (or website) until you’ve achieved some level of success before you move on to building the next one. Work on a schedule and give your online business time to grow. Eventually, you will have a network of money making ventures creating multiple streams of income!

In closing, remember this – the online business pie continues to grow at an incredible rate everyday. There’s enough for everyone so dig in and enjoy! Here’s to your success – and mine too!

Andrew Shim is the owner and editor of PositiveMoneyIdeas.com a website which offers FREE Money Making Ideas for those interested in starting their own freelance or home based business. He and his wife run a successful home catering business. Visit Andrew’s Work At Home Make Money Blog at HomeWithAndrew.com.

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