Are you thinking about the possibility of starting a business online? Before you actually go out and do it, give some serious thought to this following statistic.
One out every hundred people that start a business on the web, and ninety five of them will fail for many different reasons. That means that only five will see success with their online venture.
There is no way to prove how accurate these numbers are, but there is some truth to the statistic. Most people who start a business of any kind, either in the real world or on the internet, have a greater chance of failing than being successful.
If you are planning on starting an online enterprise, you want to be up in that top five percentile. Following these steps can help you be successful.
You are in business for money, not nostalgia. Sell products that actually sell fast and turn quick profits, not just things that you are interested in. Separate your personal interests with you business instincts and stick to products you can move quickly.
To illustrate, look at someone who is an expert in the field of bodybuilding who has a product that will develop muscles quickly and healthily. This person has an interest in a market that has a wide demographic as well as a huge potential customer base.
However, think about someone who is an expert in raising caterpillars. While that is a very important thing to do, not many people will be interested in your product. Since you are in a small market, chances are that you will not be able to stay in business long.
Passive marketing is very lucrative in online businesses, and is a great way to provide financial freedom. Instead of thinking of selling products for one time purchases, think about membership sites. With these sites, you can earn repeat income from subscriptions. Just have a site that interests a community of surfers, and you can reap profits from recurring memberships.
One out every hundred people that start a business on the web, and ninety five of them will fail for many different reasons. That means that only five will see success with their online venture.
There is no way to prove how accurate these numbers are, but there is some truth to the statistic. Most people who start a business of any kind, either in the real world or on the internet, have a greater chance of failing than being successful.
If you are planning on starting an online enterprise, you want to be up in that top five percentile. Following these steps can help you be successful.
You are in business for money, not nostalgia. Sell products that actually sell fast and turn quick profits, not just things that you are interested in. Separate your personal interests with you business instincts and stick to products you can move quickly.
To illustrate, look at someone who is an expert in the field of bodybuilding who has a product that will develop muscles quickly and healthily. This person has an interest in a market that has a wide demographic as well as a huge potential customer base.
However, think about someone who is an expert in raising caterpillars. While that is a very important thing to do, not many people will be interested in your product. Since you are in a small market, chances are that you will not be able to stay in business long.
Passive marketing is very lucrative in online businesses, and is a great way to provide financial freedom. Instead of thinking of selling products for one time purchases, think about membership sites. With these sites, you can earn repeat income from subscriptions. Just have a site that interests a community of surfers, and you can reap profits from recurring memberships.
About the Author:
Aside from Internet business, this writer additionally regularly shares knowledge regarding the commercial popcorn machine and popcorn for movie theaters.
