Online Business 101

I read that there are over one hundred million
Americans on the internet.
Add in all the millions
in other countries and every day there is a massive
crowd looking at one kind of screen or another. Wow!
Millions of customers just waiting for me!
Well……not so fast.

How do they come up with that figure? Probably take
a small survey and use some multiplication formula to
guess the answer. Can’t prove it or rely on it.

Who is on the internet and what do they want? There
are kids giggling with each other, people looking for free
information of all kinds, private communications for
personal or business reasons, people amusing and
entertaining themselves in various ways. A large
percentage is not there to buy anything and those who
are shopping probably have a specific item in mind.

There are millions of buyers and millions of sellers
too.
Supply and demand at work. Wherever a crowd
gathers you will find people trying to sell popcorn. This
is just a bigger crowd with popcorn vendors every ten
feet.

What does this mean to me?
Basic business principles still apply. I need to broker,
buy or produce products/services that people need or
want. If my products/services are good and shown to
people some of them will buy.

How do I get started?
Begin by choosing a market. Find a group of people
who are looking for and willing to pay for a product or
service. Produce, buy or broker that product or service.
Establish a location (website) to sell it from. Start
building a customer base.

Who fails and who succeeds?
The main reasons for new business failure are the
same online or off. We don’t know or don’t learn the
building process. We underestimate the time, money
and effort needed to become profitable.We quit when
we find out how hard it is.

So only brilliant workaholics will make it?
Absolutely not. Ordinary people like you and me
succeed in growing a profitable business year after
year. Take action, get started learning your lessons,
keep improving and stick with it.

Every successful business from huge corporations
to individual proprietors started with somebody
wading in and getting their feet wet. Sometimes we
make it the first time, sometimes we make it after
multiple failures, sometimes we give up and quit.
One thing we know for sure is nobody makes it
until they try.

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Ken