Why Have An Internet Marketing Business?

Written by Murray Hughes

"The Internet Gold Rush is under way" Bill Gates, chairman Microsoft Corporation.

Early settlers understood if you are going to build a community, build it near a permanent, abundant source of fresh water. And that's why in all countries aroundrepparttar world, communities were built around streams, rivers and lakes. That's good common sense.

Now let's apply that same wisdom to developing a business.

If you are going to develop a work from home business, develop it near a permanent (or long term), abundant source of cash flow. You'd agree with that wouldn't you? Again that's good common sense.

More succinctly, you identify where huge amounts of money are being spent in a growing industry with good long term prospects.

The Internet complies with these criteria better than any other industry in history. Gold, silver, coal, oil, LPG have all been massive industries but you either had to leave home to stake your claim, invest more thanrepparttar 136291 average person could ever afford before even seeing your first dollar,repparttar 136292 resource dried up andrepparttar 136293 opportunity ended orrepparttar 136294 industry became obsolete.

If current Internet and e-commerce trends continue, which atrepparttar 136295 moment there appears to be no reason why they wouldn't, indeed a new age in consumerism has arrived. The statistics speak for themselves.

[U.S. online retail sales are expected to reach $65 billion in 2004, and will continue to grow by a compound annual growth rate of 17 percent through 2008 to top $117 billion, according to a report issued from Jupiter Research.

"Market Forecast: U.S. Retail 2004-2008,"repparttar 136296 growth in online retail will be due in part to new online buyers, not just veterans, who have come to embracerepparttar 136297 medium. Jupiter expects thatrepparttar 136298 online buying population will grow by 14 percent in 2004, representing 30 percent ofrepparttar 136299 U.S. population. By 2008, one-half ofrepparttar 136300 population will make purchases online.

Online retail growth will be fueled by another factor: increased average spending per buyer. In 2004, online buyers are expected to spend an average of $585 person, up from $540 per buyer in 2003. That trend in higher spending is expected to increase overrepparttar 136301 next five years: Through 2008, average spending per buyer will be close to $780 per buyer.] Taken from an article by Laura Rush, Clickz.com

They are extremely promising statistics andrepparttar 136302 implications for those of us who are creating an Internet presence now are profound. If you are able to develop an effective Internet marketing business now, your income could grow at a compound rate forrepparttar 136303 next several years.

First Steps to Starting a Business

Written by Hamoon Arbabi

Q: I'm ready to start my business. What do I do now? A: OK, you've got your business idea. You're fired up—ready to quitrepparttar rat race and be your own boss. What do you do now? The first thing you need to do is decide onrepparttar 136258 goals for your business. What do you personally want to get out of it? How many hours do you want to work? How many employees do you want to have? How much money do you want to make? The idea here is to get as clear a vision as possible of what your business will look like when it is established so you'll know what needs to be done to get there. For a very clear step-by-step method to do this, I highly recommend a program called E-Myth. Next, dorepparttar 136259 math. So many people—including me—have learnedrepparttar 136260 hard way thatrepparttar 136261 business they created is not capable of meetingrepparttar 136262 goals they set for themselves. To help avoid this problem, do some market research to determine how much you'll be able to charge for your product or service and what volume you'll be able to sell. Think about how many hours you'll be able to work in a day and get a rough idea ofrepparttar 136263 maximum amount you could make. Once you have rough estimates for those figures, you can decide ifrepparttar 136264 money you could make orrepparttar 136265 time you need to put in will be worthrepparttar 136266 effort. You'd be surprised at how many people spend years working in a business that is just not capable of becoming what they hoped it would, even if everything went perfectly. Many new entrepreneurs think success is all about developing a great product or service, but actually it's all about selling it. Before you spend tons of time and money developing your product, make a prototype or develop a clear and concise description of what it will be, and do some market research. Figure out who your prospective customers will be, and go talk to them! Ask questions. Find out what they'll pay. Consider their feedback and modify your design accordingly. Look at other companies that are selling similar products or services. Find out what they charge, how they market and what their competitive advantage is. Go into their stores and watch their customers. Find out what they are doing and why, and how customers respond. Once you think you have a clear understanding of whatrepparttar 136267 market wants, then move ahead with your product or develop your service.

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