Over the years I have built and run a number of traditional “bricks and Mortar” business. In my case they were in the field of Information Technology. The good thing about a business in IT is you can start it off as just one person working from home and slowly but surly build it up over time.
The funny thing is that when I compare my old “low cost” businesses to businesses which market products purely on the Internet, I soon discover that they are anything but low cost. To give you an example, in this past year for one of my IT Consulting businesses, I spent over $140,000 on leasing premises. Then there are the employees and all their associated costs which make the money spent on leasing look like a drop in the ocean. Realistically “bricks and Mortar” businesses are expensive to get into and expensive to run. Even the smallest of franchises would cost you upwards of $30,000 to get into before you incur any running costs.
A Business on the internet on the other hand is effectively free. You have a couple of running costs which include things like paying for web space hosting and an auto responder which if you were splurging would set you back no more that $60 a month and you are ready to go.
The other great thing about the internet is that there are hundreds of ways to make money. In fact with some of the models you don’t even have to spend any money up front or on going. Here are a couple of ideas to get you moving:
- How about selling other people’s products for a commission. This is known as Affiliate Marketing. Did you know that at places like Commission Junction (cj.com), Clickbank (clickbank.com) and many others there are literally thousands of vendors who will give you between 50% and 75% of the sell price of the item they want you to sell. In some cases they will give you up to 120% of the price.
- Private Label Rights is another area. This is where someone else develops a product and you pay them a fee for the right to put your name or your brand to that product. You then sell the products and keep 100% of the sales. On the internet this is usually done with information products but walk into any supermarket anywhere in the world and you will soon see that the concept has been around for a while with all the "no name" or "supermarket name" brands on the shelves.
- If you feel more comfortable with physical products then you may want to consider physical products. Did you know that there are companies which will allow you to sell a physical product to your customer and once you have the order (and been paid) then they will ship the product from their warehouse directly to the client. You have no warehousing fees, stock holding fees, delivery fees, nothing except the wholesale price of the products you have sold. Not bad eh?
- Do you like to write and tell people about a particular subject. Well how about writing a blog. You are reading a blog at the moment. It is just a space to write down your thoughts and share them with the world. If many people start to read it then you can monetize it by posting advertisements on your blog. Google has a program called Adsense which reads through your blog entries and automatically places appropriate ads next to the words. If somebody clicks on those ads then you get paid. That is right just for clicking. They don’t have to buy anything. Welcome to the world on line where anything is possible.
As you can see the internet is a natural place to start a business. It is very low cost so learning and making mistakes won’t cost you an arm and a leg as it would in the “real world”. The main thing you need to do is learn and model someone who is already doing it.
There are over a billion people on line with more coming each day. A serious percentage are willing to buy, which means that there is a lot of money to share around. If you want me to help you learn then just go to my website at http://www.markbuhagiar.com and register for access to the members area. Currently membership is free to people who are serious about taking action.
I look forward to seeing you there.
Enjoy the journey.