The Internet Has Changed How We Make Money
The internet has also revolutionised the way we do business and how we make money.
The era of full page ads in magazines and newspapers, and the domination of television for video ads are being replaced by online advertising using corporate websites and online advertising.
Online shopping for most products is becoming more and more popular.
Skype, Google Hangouts and Webinars have reduced the need for international air travel for meetings.
The Barriers to entry to high value niche markets have been torn down
No large retail or service company can any longer afford not to have a highly professional website, and online shopping capability.
This also means that the high advertising and marketing costs that allowed large companies to dominate their niches, as smaller competitors simply did not have the financial resources to compete, are no longer a big barrier to entry.
So using the power of the internet to reach and service a world-wide audience of potential customers is open to companies of all sizes.
This change has opened up previously unimaginable opportunities for you and me. As I write this, over half of the world’s 7 billion people have internet access, and that’s growing rapidly.
With over 90 English speaking countries on the web, even the smallest company has access to a massive global audience of potential customers.
So What Does This Mean for You?
What this means for you is:
- You no longer need a storefront to sell your products.
- You don’t need physical products, warehouse or transportation to deliver your products. Google has become one of the world’s biggest companies without any of these.
- You don’t need to hire and pay staff to mind the shop. There are systems, tools, software and even outsourced staff available to do almost any task for you at a fraction of the cost and administrative hassle of employing and paying people.
- You don’t need working capital to fund your debtors (people who have not yet paid for the product you have sent them). You can get paid when people order your products online.
- You are not restricted to a specific location to do business. You just need a computing device and internet access.
- You have a world-wide audience of potential customer to market and sell your products to.
So this new business model has a very low set-up cost and ongoing overheads when compared to a traditional bricks and mortar business.
The other big benefit is that if your products take off unexpectedly fast, scaling up does not require time or money. Good software can be almost instantly infinitely up-scaled – In many ways It’s a bit like printing money.
The other good news is that your age, business experience or financial background are not a barrier to you being a be part of this revolution.
So basically anyone willing to make an investment to get started (far less than if you started a bricks and mortar business) can do this.
You don’t need a degree or professional qualification, or to be tech savvy or skilled with computers.
Of course, like any new business, you will need to put in the work to get started and profits are not going to be massive from the word go.
It will take some time; so the more action you take, the quicker the rewards will come.
If you decide you don’t want to go-it-alone, and this could be a very smart decision, there are new business opportunities that allow you to leverage the products and systems that other people have created and had great success with.
The big challenge is to choose the right business.
This will be relatively easy for you to research on your search engine using interests such as affiliate marketing, licensing model & franchise vs affiliate licensing model (Last option gave me best results but try all and save best links for more in depth research)
Please feel free to leave me a comment, which I will answer personally.
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