I suppose it’s a good thing that I’m perhaps not the only one who seemingly heeded Sir Richard Branson’s advice to look towards the online space as perhaps the cheapest and easiest way to start a business, albeit naturally not everybody who goes on to do so necessarily heard it from the Virgin brand entrepreneur. That piece of advice was given quite a few years ago in anyway, so I guess we’d be looking at a bit of market saturation by way of the traditional online business models suggested back then.
Saturation is indeed one of the areas we’re going to explore as part of what you need to know about starting an online business, and while these are indeed guidelines that come from a very knowledgeable position, by no means is it the be-all and end-all. You might find success through a channel which we aren’t too keen on and you might equally find very little success if any via a channel we recommend and stand fully behind.
The point is the online business game is dynamic in its nature and it perhaps changes and evolves faster than any other business environment, so that’s perhaps where you need to look – you need to look closer at this dynamism.
You need to sell a product or service
If you keep this in mind before you spend your very first dollar on marketing or anything else which has something to do with getting your online business up and running, you will save yourself a lot of money in the long run and you’ll save yourself the stress of being taken from pillar to post, chasing dead-ends! You need to sell something, whether it’s a product or service, period!
If you’re going to get tempted to buy some or other “system” which promises to show you how to generate an income online “on auto-pilot” as many of them promise, let it only be once so that you learn the lesson that these simply don’t work.
Otherwise whether it’s advertising (advertising is perhaps the best product/service to sell), digital products or physical products, if you have ambitions of making a success out of your online business venture then you need to be selling something.
It’s not as easy as it looks
Ask self-taught programmers who went on to build themselves online businesses such as their own e-commerce & affiliate marketing platforms and they’ll tell you that actually generating cash flow isn’t as easy as it looks. A lot of hard work is required to make a success out of it, but by no means is it impossible.
Getting started is the most affordable part
For less than $20 to $100 you can effectively have an online business erected and in no time too, but that’s pretty much as far as the affordability goes. Since you’ll be competing with millions of people from all over the world in some or other way, naturally getting the kind of marketing exposure required to stand out and land your own market share will cost you a bit of money…