If you have long dreamed of getting your piece of Internet business pie but have held off due to fear, lack of skills, shortage of money, or any other reason under sun, now is time to get going. There are four reasons why time is right to get going on line: general acceptance of Internet, maturity of on line resources, abundance of resources on which to build a business and fact that anyone can afford to start an Internet business now. Let’s take a look at why this is so.
First, overall use of Internet continues to grow, not only in this country, but worldwide. Technology we may find confusing is taken for granted by our children, and even grandma and grandpa now get on line. Consumers across all demographics are shopping, and often buying, on Internet. Statistics show growth rates in number of Internet users at over 20 percent per year for past ten years. Recent U.S. Department of Commerce statistics report on line consumer sales of $117 billion in 2004, just 3.3 per cent of total U.S. retail sales of $3.6 trillion dollars. But, while total consumer sales grew by 6.8 percent in 2004, on line sales grew by 26 per cent. By all indications, this growth rate will continue to increase as ‘www’ generation becomes more comfortable with Internet buying due to improved customer service habits of on line vendors.
The second reason time is ripe to get going with an Internet business is maturity of Internet. That is, businesses that survived ‘dot com’ bubble or have come on line after that time tend to be more stable than their predecessors. More traditional business models, focusing on customer service, advertising, and reliability have been incorporated into web business practices. Serious business people value a good Internet reputation. This benefits everyone working on line.
The third reason to get your Internet based business started now is ease at which average Joe can now create a web presence. From purchasing a domain name to creating an actual website, getting a business on line has never been easier. There are web hosting businesses that will take you step by step through entire process for a very reasonable price. If you prefer to ‘do it yourself’, there are software programs available, such as Microsoft Front Page or Web Studio to guide you through setting up your website.
And lastly, this is time to start on Internet business because right now this is one of least expensive ways to have a business of your own. With cost of setting up a traditional storefront business in thousands of dollars, and considering that about half of new small businesses fail in first five years, thought of risking it ‘all’ for a traditional business is only for most hardy (or fool hardy, depending on how you look at it!). Franchises are somewhat safer, but not only can they also have huge startup costs, a significant portion of business profits will be paid to home office for privilege of using their name, reputation and training.