Money Making Internet Business
A money making internet business isn't really that much different than a traditional real world company. Both begin with a dream and a plan and both need certain elements to be successful. For example, most businesses fail in the first couple of years because of lack of capital. There just wasn't enough money invested in the venture or the money wasn't appropriately managed. Whatever the case, the cash flow dries up and the venture comes to an end. Businesses might also fail because of lack of knowledge or experience. This may happen when someone jumps on a popular business bandwagon even though he knows little about the specific product or service and has little or no experience in the industry. Of course, companies also fail because of economic and/or market forces over which the owner has no control. When automobiles became more popular than horse-drawn carriages, the carriage maker had little recourse but to close up shop and find another line of work. When jobs are scarce and money tight, worried people cut back on discretionary spending which often means less revenue for entertainment venues such as restaurants and movie theaters. A money making internet business is more likely to be successful if the entrepreneur invests an appropriate amount of capital based on a solid budget and if the venture generates a positive cash flow. The entrepreneur is more likely to be successful if he chooses a venture that stems from his personal knowledge, education, and professional experience. No venture is completely immune from outside economic and market forces, but a savvy entrepreneur will pay attention to such possibilities and plan ways to help the business survive the rough times.
An entrepreneur actually has three choices when it comes to launching a new venture. She can open a physical location, such as a retail store or an office that offers professional expertise, such as in accounting or real estate. A second option is to launch a money making internet business by purchasing a domain name and setting up a website that offers either products or services. The third option is to do both establish a physical location that is supported or integrated with a well-designed website. This third option is so important that even established businesses are finding it necessary in today's online-centered world to create websites that promote their products and services, provide information such as the address of the physical location and hours of operation, and perhaps informs potential shoppers about upcoming sales or special offers. By incorporating an online presence into a strategic marketing plan, traditional companies have the potential to expand consumer base and increase sales revenue. Those who ignore the internet phenomenon may find themselves sharing the fate of unimaginative nineteenth century carriage makers, bemoaning their fate and wondering what went wrong.
Of course, not every entrepreneur wants to establish a traditional business and not every entrepreneur is looking for overnight wealth. The money making internet business phenomenon has opened a broad and easily accessible path for a multitude of individuals to earn an income without the overhead expenses of a traditional store or office. These micro-companies who might never have found the niche customers for their unique products with traditional advertising methods now have a way to promote them throughout the world with very little cost. They may not become millionaires selling items that fit in a small niche, but they have an opportunity that didn't exist before the internet revolution took place. Other people establish a money making internet business offering products with broad appeal. These entrepreneurs work hard to set up distribution channels and shipping avenues. They hire employees to keep the company website current, to fill orders, and provide top-notch customer service. With both these examples, though, the entrepreneur's success is built on a foundation of knowledge and expertise. As King Solomon wrote: "When wisdom entereth into thine heart, and knowledge is pleasant unto thy soul; Discretion shall preserve thee, understanding shall keep thee" (Proverbs 2:10-11). People with passion find fulfillment worth more than riches. Tapping that passion is much more rewarding than a get-rich-scheme.
The internet revolution has provided opportunities for many with imagination, passion, and persistence. But be assured that it also has opened the way for the unscrupulous to trap the unwary in money-stealing schemes promising overnight riches, but that deliver little or nothing. These sites can be recognized by the use of extravagant hype and continued pleas to buy now. Some websites promise to expose money making internet business scams and yet they use these same techniques of excessive customer testimonials (which may or not be true) and "trust me" language. Aspiring entrepreneurs are well-advised to stay away from such websites when researching legitimate business opportunities. Instead, they should take a hard look at their own skills, hobbies, passions and experiences, especially if the dream is to make a full-time income from the potential online company. A coin collector may find success as an online coin dealer, particularly if the website also contains relevant and helpful information to other coin collectors and hobbyists. A gardening expert may find success offering vintage flower seeds, hand-painted pottery, and message boards for other enthusiasts on her website.
Of course, there are opportunities that are unique to the online world. For example, a web designer has an excellent opportunity to open an online shop selling his services to other entrepreneurs. Web-hosting and online marketing firms exist only because the internet itself exists. Additionally, there are people who aren't looking for a full-time money making internet business. Stay-at-home moms and retired people, for example, often seek opportunities to bring extra income into the household. They may earn that extra income by tapping into affiliate programs, establishing an website with ads geared to a specific topic, writing and selling ebooks, or perhaps offering some type of product or service. The bottom line is that a legitimate money making internet business requires the same forethought and planning as any other legitimate business. Those who plan before launching into a venture are the ones with the greatest likelihood of meeting their personal goals and objectives.
Money Making BusinessA good money making business can easily be birthed out of adversity. Some say that necessity is the mother of invention; and many lucrative cottage industries are developed when individuals suddenly find themselves unemployed. Husbands may lose jobs through company cutbacks, and wives may find themselves at home after having a baby. But creative individuals can start a money making business simply by using skills and expertise honed from a fulltime job. Before developing a home-based enterprise, individuals should assess which personal strengths and abilities are marketable to benefit others. Secretaries, bookkeepers, personal trainers, dog groomers, janitors -- the list is never ending of formelry employed individuals who can use skills learned on a 9-to-5 job to start a new enterprise.
Just because the company closes its doors and everybody gets a pink slip doesn't mean that a free thinking worker has to stop working. The same ethics and professionalism that earned a weekly paycheck can be put to good use as a self-employed entrepreneur. Once individuals have compiled a list of valuable skills, the list needs to be refined into two or three possible options for starting a money making business. Individuals should be realistic about marketable skills that might lead to self-employment. The key is to select a talent or service that people want and need and put a good price on it. Sometimes the search for one type of home-based enterprise might lead to actual employment in another. Novice entrepreneurs should remain just as diligent and optimistic about work opportunities as those who labor in the gospel. "Therefore, my beloved brethren, be ye stedfast, unmoveable, always abounding in the work of the Lord, forasmuch as ye know that your labour is not in vain in the Lord" (I Corinthians 15:58).
Out-of-work secretaries and bookkeepers can contract services as virtual assistants and girl Fridays, lending a hand on a contract basis to several different small companies that may not be able to afford to hire a fulltime administrative assistant or receptionist. Personal trainers can get personal with owning their own business by running newspaper ads or hosting websites offering individuals, groups or companies exercise or weight training classes. The local gymnasium may not offer personal training, but that could be a good opportunity to stop by and offer value-added services which can bring new clients to the gym and money in a new entrepreneur's pocket! Dog groomers can offer a door-to-door service, picking up and dropping off pooches to save owners time. Pet lovers may not be able to resist the convenience of having a pup coiffeured AND chauffeured for a little extra fee. And cleaning services are really cleaning up nationwide. Janitorial companies are probably one of the fastest growing independent enterprises in the country. Everyone needs cleaning help, whether it's a residence or corporate plant. Owners can take businesses from part time to professional by bidding on government contracts and gradually adding personnel and vehicles to build a money making business.
Writers, graphic designers, and account executives might consider pooling their talent and resources to start a money making business offering publication or promotional advertising services for small and large corporations. While one individual may lack the finances to start an independent agency or creative marketing group, five to six unemployed individuals may be able to come up with enough capital to turn a sad situation into a success. And if no one has enough ready cash, one or more team members may be able to secure credit from a lender willing to finance a promising new venture. All that's needed is a good business plan with projections for potential earnings for two to three years. An impressive plan will cover all the bases, such as overhead expenses, wages, and the cost of self-promotional advertising. As a money making business, a creative group can incorporate and bid on government contracts, work for nonprofit agencies for a profit, or offer consultant services to other thriving companies.
A new money making business will have to comply with local, state and federal revenue laws. New entrepreneurs should visit the local licensing office; apply for an Employer Identification Number online for banking and payroll purposes; and have calling cards professionally printed. A brand new enterprise doesn't have to incur a lot of overhead. Consider using a spare bedroom, basement or garage from which to operate for the first year or two until the enterprise can build up a substantial customer base. Home-based and cottage industries often use cheap labor by employing high school children or family members. Entrepreneurs specializing in home baked goods or catering will need to apply for a food handler's permit to protect themselves and the public from any liability. City permit offices will want to conduct an inspection of the home's basement, kitchen, or working quarters to ensure that the facility doesn't present a hazard or public health concern.
Entrepreneurs who consider running a money making business should not overlook the power of the worldwide web. The Internet simply brings the world to your door with a global clientele of eager buyers. Selling like-new items on web-based bidding sites and flea markets is a great source of additional income. New entrepreneurs can build a website and feature photos of products or an online catalog of merchandise for cyberspace shoppers. Website owners can collect monies by opening a merchant or universal payment account for domestic or foreign shoppers. In spite of high unemployment rates and company closures, enterprising unemployed workers can use the same skills and talents that brought home the bacon by running a home-based business. The Internet is the door to the super highway of cyberspace commerce; and nearly anyone over the age of 18 with an innovative idea, a home PC, and a little persistence can get on board for financial success.