I’ve seen some internet business when I do my blog hops from time to time. And there are really a lot of persons making huge sums of money from their blogs and websites. As time passes, a lot of persons are addicted to blogging because aside from sharing their personal experiences and expressing their thoughts and opinions, they can also make money out from it.
So why internet businesses is one of the most profitable business in the world? Let’s view my article on some of the characteristics of a perfect business.
Based on these points, an internet business is a profitable business because of:
Low Costs. Starting an internet business does not require a huge capital. You can start as cheap as $60 per year by getting your own domain and server. As your traffic increases, you can upgrade your server to increase its bandwidth. Also, you don’t have to employ a lot of employees. You can do it on a one-man team or hire writers to write quality articles. Maintenance costs involve in an internet business are only the electric bills and the internet bills which will be paid on a monthly basis.
Portability. An internet business can be operated almost anywhere in the world, any location with an internet connection. Unlike most business where you have a physical store, an internet business is virtual. Whether you migrated from Philippines to Australia, or to almost any location in the world, you can definitely bring in with you the internet business that you started.
Inventory Management. Some businesses have problems in inventory management such as a grocery store, hardware store, or any business that has huge number of inventories. The problem comes in inventory management where sales should be balanced with number of inventories sold. This is time consuming and probably be a cause of business theft as employees can easily pocket your inventories in small amounts. Little did you know that there’s a “termite” in your business that eats your inventories when your accumulated losses are high enough to catch your attention. In an internet business, you don’t have physical inventories but virtual inventories which are very easy to manage such as articles, host server, domain, links, etc.
Payment Accessibility. Receiving payments in an internet business is also very easy. Whatever your income is, you can easily accept payments online thru PayPal, after which you can easily withdraw funds to your local bank account. Alternatively, you can also collect your income thru Western Union which has over 320,000 agent locations wordlwide.
Time Constraints. In most businesses, you have to concentrate most of your time in managing the business from hiring the right employees, marketing it, talking to clients, inventory management, etc. Thus, it is time consuming. In an internet business, you can just devote two to three hours of your time daily by writing quality articles and marketing it.
Of course, like in any other business, success in an internet business cannot be achieved overnight. You have to work hard from the start and as your internet business grows, it can be a source of passive income that can generate income for you while you are sleeping and definitely, you can retire early.
In the world, here are some of the most successful internet businesses: Plenty of Fish, Million Dollar Home Page, Whatever Life, John Chow, Entrepreneurs Journey, Tyler Cruz, and Problogger among others.