If you are planning to start a new business in 2005, you should seriously
consider one of the many Internet based businesses available today. The online
businesses have numerous inherent advantages in comparison to their brick
and mortar counterparts.
Investment is relatively small
The basic elements to start an online business are the followings: a good
product or service, an online presence, and a good marketing plan. All these
things can be done on a shoe-string budget. You won’t require more than US$
2000 to start any of the business described below. In most of the cases, the
investment can be even lower.
Quick to launch
Once you know, what products or services you are going to sell, you can,
basically, start your business within three to four weeks. Some of the online
businesses don’t even take more than two to three days to start.
Internet is big and it’s getting bigger! Whatever business you prefer to
start, Internet allows you to tap instantly into a huge number of potential
customers, which is, virtually, impossible to do with a brick and mortar enterprise.
Huge growth potential
With the Internet, sky is the limit! If you have a good product, service
or idea, you can create a dot com behemoth over night! Smart guys are doing
this! Internet success examples are abound.
Work from home
The best thing about online business is you can take care of it even while
you are on vacation. No office is necessary; you work from home, if that is
what you prefer.
Less paper work
Since starting for your quotation and purchase orders to the invoices and shipment
tracking, everything is done online; you hardly have to do any paper work. Check
out an example of how easy it is to manage your business processes online at
Flexible time schedule
No longer have you had to work nine to five! You set your own schedules.
Although, with any new business, initially, you have to work very hard, however,
the time flexibility allows you to do other important things whenever it’s
There is no limit to Internet business ideas. Savvy entrepreneurs are constantly
coming up with mind-boggling online projects and striking rich in no time.
Here I have chosen several of the online businesses with great upward potential
with proven success history.
If you are asked, what do you do on the Internet most of the time? The
answer, most probably, will be searching or retrieving information. You are
not alone! A survey conducted by Neilsen Media Research shows that Books and
Information Category tops the highest selling product and service on the Internet
with a significant margin in comparison to other categories. This makes information
a natural product for sale on the Internet.
Information sells online in the formats of e-books, articles, reports, data,
whitepapers etc. If you have expertise in any specific field, you may consider
selling your ideas in one of the mentioned format. Check out Clickbank’s marketplace
to get a good idea what people are selling. You will be truly amazed by the
scope of ideas!
According to Jupitar Research the U.S. online travel market has grown at
a fast pace over the last year, totaling $54 billion in 2004, or 23% of travel
purchased. The online market is projected to grow to $91 billion in 2009,
or 33% of travel purchased.
Apart from being a soaring market, travel agency is also highly rewarding
and satisfactory business. The interesting thing about this business is your
own network of acquaintances is also your potential customers.
The success of this business will depend on your target market and product
that you are going to sell. Choose a very niche product and focus on a specific
market segment. For example: Red Sea Rivera of Egypt is increasingly becoming
a primer destination for many sun worshippers. Try working with several of
the hotels from this area. Create package deals and offer to European customers.
eBay has grown into the largest online marketplace in the world. Entrepreneurs
are taking advantage of this. Opening a store on the eBay is fairly easy. However,
the competition is stiff! There are nearly half a million stores are selling
almost anything you can think off. In order to be successful you have to choose
your products very carefully. The best selling items on the auction marketplace
are collectibles, books, computer software and hardware, clothing, home and
garden supplies, business supplies, wholesale lots, DVDs, special events tickets
and even cars and real estates. If you don’t have your own products or
you don’t want to physically handle a product, you can consider selling
The main reason why you should mull over selling your products through eBay
is the sheer number of visitors eBay gets. By no means, an average website
can bring you so many customers.
If you find difficulties doing the auction sales yourself, you can also concentrate
on seeking out products and selling them through eBay drop off stores. You
can also come up with your own drop off store.
Web service firm
Services required by the Internet users and online businesses are increasing
enormously. The Internet service industry is evolving so fast that for their
various requirements, many companies, today, prefer outsourcing as oppose
to doing things by hiring employees.
Large and small companies started to realize that it’s more cost-effective
and time-saving to outsource sophisticated business related services, which
are not their core business.
This has created a flourishing industry, part of which did not even exist
several years ago.
To be successful in this market you have to know what’s the odds are. A rush
to provide complex solutions of vast range that fail to provide benefits at
reasonable costs for businesses will sure take you out of business very fast.
The services that you can provide may include:
Online security consulting
Export Import Business
Thanks to the Internet, getting into import export business has never been
easier. As the nations are accumulating wealth, their demand for foreign made
products is also swelling. You can be a part of this action too! Whether you
are planning to import or export, Internet resources can be of great help
too you. The trade leads site, B2B exchanges and various marketplaces have
made sourcing and selling products and services globally simple, effective
and inexpensive. You can also create your web store with many of the B2B exchanges
and run your business processes solely online.