Excel Formula To Determine Age Based On Date Of Birth Are Internet Businesses Really As Good As the Hype? – Part 1 of 3

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Are Internet Businesses Really As Good As the Hype? – Part 1 of 3

In this 3 part series of short articles I will be looking at whether the internet is a place to make money today.

Part 1:

Understanding the home based business market:

So here we are, 2009 has dawned and instead of looking forward to a new year full of new surprises and new opportunities, much of the Western world seems filled with doom and gloom. Every news bulletin carries headlines of falling stock prices, shaky banking news, factory closings, job losses and soaring home repossessions, and every commentator tells us it’s getting worse before it gets better. We could all be forgiven for throwing our TVs out the window, selling all our trinkets and moving to the North Pole (before that too melts). Is it just me or does it feel like we are being fed a constant barrage of fear from every angle. It is certainly not doing anything to inspire the faith of the common people of planet earth. I don’t know about you, but I, for one, have had enough of it and refuse to be overwhelmed by all this negativity.

History has proven that not everyone survives economic downturns and in fact, some do really well and I am a living proof of that. During the last major recession of the late 1980’s/early 1990’s I owned and ran a commercial credit reference agency which had 4 great years during that recession. This recession I’m ready to do exactly the same, just with a different business. We are now firmly in the Internet age and the last 10 to 15 years have seen an explosion in the number of people and businesses doing business on the Internet. The home based business market is growing at an unprecedented rate and is sure to grow even faster in the next 5 years, especially during tough economic times. The reason for this is simple and it stems from 3 major factors;

  • Companies are downsizing and employees who depend on things like overtime to supplement their regular income find it reduced or cut altogether. They now have to work long hours to keep their jobs for no extra money. Many are choosing to take a pay cut rather than face redundancy
  • Companies are closing in on business and redundancies and job losses. Unemployment is rising at an alarming rate and replacement jobs are becoming increasingly difficult to find
  • Those who have already been made redundant or retired early and are living on pensions and savings/investments have found their incomes eroded by falling stock markets and low interest rates.

As a result, many are turning to the Internet as a way to make money, either to supplement their existing income or to make a living. It’s not really surprising when you think about it since the Internet offers the largest global marketplace on the planet. Of course, not everyone has become (or will be) an Internet millionaire, but then not everyone needs or wants to achieve that. Many people I know are making as much as they do in a “traditional” job just by selling stuff on eBay! The difference is that they are their own boss, work the hours they decide and ultimately line their own pocket instead of someone else’s. It all depends on your personal goals, desires and expectations. The Internet is simply the vehicle you choose to use for your journey.

It is a common myth that only computer experts can benefit from online business, but this is not the only case. This very nature of the work can be very automated and there are many easy-to-use systems available for beginners to take advantage of. On top of that there is no shortage of people offering training and guidance at all levels and, in my experience, it is more relevant to be able to follow a method than to be bogged down with technology.

In part 2 of this 3 part series I will explain the 3 most common business models used.

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