Is online business what everyone says it is?

[Brendan]

It seems the trend to run an online business is really ramping up these days and there seems to be a new breed of Entrepreneur coming through the ranks.. one that works from wherever they want and make money while having fun and living life.. at least that's what we say we are doing..

Truth be told .. and I am coming from experience here, us Internet Marketers spend hours and hours building sites, marketing them, networking, researching fine tuning for that particular market.

If we are planning a launch of a new product or even trying to leverage an existing product, we could easily spend 12+ hours per day getting ready for that launch for a number of weeks.. and I know a number of other Internet Marketers that to do the same..

So why do you think it is that we say we don't do that much work and we make money by just putting a website up?

I think its because it doesn't feel like work in the traditional sense - we don't need to trade hours for money & what we do is fun, we meet new people all the time, we are constantly networking and discussing bleeding edge strategies and technologies and once we spend the 3-4 weeks on a launch, we can take 4 months off and the money still rolls in.

Sounds cool huh..? Do any of you run an internet business.. is it all its cracked up to be for you?

[gerryonline]

I am dabbling in internet marketing at the minute and I have to agree that it does take a lot of work to drive traffic to your websites and affilliate links, but I am hoping once these seeds are plantd, sites are established and indexed then the rewards will pay off?

[The Start Up Sage]

Sounds cool huh..? Do any of you run an internet business.. is it all its cracked up to be for you?

Hi Brendan,

We love the on-line business model and start lots of them for Australians.

Critically, the ability to sell product globally without significantly increasing CAPEX/operational costs is a big factor.

It does take work though. Big work upfront. And even when it is humming along earning income, energy is required to keep a site relevant and up to date.

For example, look at how Getty Images was the dominant global leader in on-line image sales a few years ago. It was an absolute cash cow. Then whacko ... along came istock and today Getty are yesterday's hero.

Complacency in business - including on-line business - can be murderous.

[Slade]

So true.. have a look at MySpace for instance, that was the place to be 2 years ago and now its almost been abolished as a 'Friends' social network altogether.

I guess they are smart though and trying to turn it into a music/artist type community instead.

I run a few niche online businesses and I too need to have my finger on the pulse and keep pushing them to make sure they are ticking along.. its a competitive game and not all set and forget as it used to be

[christo]

I don't know man, I don't see Internet Marketing and Internet Business to be interchangable terms like you.

The way I see it is that an internet business is just a business. The internet is a tool, but the tool doesn't do the work. I like Brad Burton's quote from a recent smallbizpod.co.uk podcast:

"I bought a tool last week and it hasn't dug a single hole"

Is internet business all it's cracked up to be? No, nothing is.

As for work, well spending hours on a site sounds like a very small amount of work to me. People work for years to build businesses. The internet doesn't change that.

[Brendan]

I suppose there is a misconception that everyone that runs a website, or some sort of online business becomes an instant millionaire with little effort.

This isn't true in any case, it takes time, dedication and effort as with any business, sure it can be a great vehicle, but as you say christo its not the tool that does the job, its how it is used.

[hammocksaustralia]

I find an internet business is just like any other business. You still need to do the same type of things to generate business/traffic. It's definitely not a get rich type thing. But one that to me provides much a greater return on my time, more free time, more flexibility, not having to be face to face with customers, or answer to any superiors.

For me this is way better than I ever imagined, especially compared to my other offline businesses that I ran. This suits my personality much better, so I'm gona keep running this line as long as I can.

But also like an offline business, you have to know where to draw the line, and not try and do everything yourself - something I am always guilty off - but I do have the time to do things myself.

[Just Love Gardening]

I see how leveraging my time by utilising the www as a very effective tool to help create residual income.
To be able to have a global market from your keyboard, wow , that's enormous. The challenge is working on your business and stay focused.

[Jamey]

Internet business is the beat option to make profits. Lot of strategic internet marketing is basically about having a promotion plan that employs effective and proven marketing devices to get high converting results for your internet marketing business. Thank you for sharing the information.
(http://www.keybusinesscoach.com)

[shoestringventure]

Every one of us should understand the simple fact that there is nothing like becoming a millionaire overnight. To be successful you have to really work hard. There is no substitute for hard work. No matter your business is online or offline, you have to work hard to achieve success.

[one]

I run a website called ApartmentReviews.com.au (http://www.apartmentreviews.com.au). It grew fairly quickly to start with, and I thought I was onto a real winner, but then reality hit that making money from a website isn't all that easy!

The site makes a bit of cash from Google and direct advertisers, but nowhere near enough to even consider doing it fulltime! It does pay for itself though, so that's good.

Last year the site placed 29th in Anthill Magazine's Smart 100 (http://anthillonline.com/anthill-magazines-smart-100-2009/) list. I thought that may help me get some more advertisers, but it didn't help in the slightest despite my many emails and phone calls to prospective advertisers!

So yeah, it's bloody hard to make decent money online, but plenty of people out there are still doing it though. Like the old saying goes, if it was that easy then everyone would be doing it...

[jBasket]

hi One,

I like the site, and it looks quite nice, you must have put a lot of effort into it and got a publication from the Anthill magazine. Thank you for sharing your real experience so I and other users here in this forum know what to expect from an online business. I hope that your site will get more popular. It might need more review entries.

Cheers
jBasket

[Brendan]

I run a website called ApartmentReviews.com.au (http://www.apartmentreviews.com.au). It grew fairly quickly to start with, and I thought I was onto a real winner, but then reality hit that making money from a website isn't all that easy!

Spot on.. the old 'build it and they will come' doesnt apply to the online world at all anymore..

Its more, build it and scream as loud as you can to make people notice you over everyone else!

On a separate note..

Interesting site you have there.. what sort of marketing are you doing for it?

Have you thought about making it a little more interactive.. having people upload photos of apartments for themselves? Share the reviews with others, maybe even have something where people can say that that's where they live.

I think the site does have some potential.. just need to be pushed in the right way.

[one]

I was doing marketing on two levels. On the one hand I was marketing to apartment residents for the purpose of growing the number of reviews, which consisted of letterbox drops, local paper advertising and Google. I spent some money on press releases, but that was a waste of time.

On the other hand I was marketing to real estate agents chasing advertising dollars, this was mainly done via a monthly email newsletter providing them with visitor stats on buildings in their area. I received plenty of great feedback on the newsletters, but it didn't make the agents any more keen to part with their cash! Phone calls and snail mail backed up the monthly emails.

Definitely some good ideas there Brendan. A few of those I thought I could achieve through Facebook, but after a while I kind of ran out of puff and haven't done anything on the site for around twelve months. Instead I've been concentrating on my real job, which, coincidentally, I'll be leaving next month! See my earlier post on restraints of trade... ;)

I'd like to get stuck into the site later in 2010, but we'll just see how it goes.

[cashurwheels]

Hi One,

Indeed a good concept and you have put in a lot of work already...Hang in there. Thanks for being honest and helping other realize it is not always easy. I am sailing in the same boat and know what you mean :) Brendan's suggestions are spot on, and worth exploring.

[one]

Yeah, there are plenty of people out there running websites telling everyone how successful they are, but there's a big different between being ambitious and having big plans, and just being plain delusional about things.

Hopefully once I get my new business up and running (which I'll say more about next month) I'll be able to put some more resources towards the website and get things moving again. The new business doesn't really have anything to do with the website, but the type of people I'll be dealing with some of the time (real estate agents) are common to both projects, so hopefully there will be some cross pollinisation going on!

[Barbaragabogrecan]

It’s really cool. Internet marketing is very fascinating idea of work and I am very happy doing work with this.

[seopiper]

I do the link building thing for other website but not really for my own website. I wish I could that one day, one day... when is that one day.

Need good motivation for that.

[Just Love Gardening]

Interesting. Ive just put up on a server a new site, thinking that if I create it , the dollars will flow. I know it not all that easy , although I'm on a mission . Ive choosen the Tourism industry and put this HolidayTo site together . I've got a link building exercise going, I plan to do article spins, and next is to purchase targeted traffic, I've seen it around, pick a category and pay $20 to get 5000 visitors. Good luck to all

[adamwozniak]

Hello One,

Your post was an interesting read, and a refreshing one too. As you say, there are a LOT of people that make "making money online" seem easy, when in reality it's as difficult as making ANY type of business a success. Lots and lots of hard work, marketing, networking, and sometimes, perhaps, a bit of luck too.

Out of curiosity, what made you decide to build this website? What was your ultimate goal with it? Is it getting a lot of traffic? What's the bounce rate like, and how long does the average visitor stay on the site for?

I've always toyed around with building these sorts of sites, but what always stops me is figuring out how to drive enough traffic to it, and then how effectively monetise it.

So personally, I lean more towards forming community-based websites that have lots of high value informational content (eg. blogs) instead. Then the potential for monetising doesn't solely rely on advertising.

But that's just my personal opinion. What do the rest of you think?

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[AlbionColt]

Hey!!!
Thanks for valuable post. If you need any office space then we will be glad to serve you.

[chris]

I think that this is absolutely spot on..

I am currently in the final stages of setting up my own e-commerce website and wow, what an exercise!
Although we are about to kick off quite an extensive online marketing campaign, i can already see that during the initial 6 months it may be a case of trial and error to work out simply what works the best.
I must say that the massive advantage that internet based businesses have over their offline counterparts is the ability to define and profile all of their customers and potential customers. By simply utilising basic analytical programs we have the luxury of being able to see the benefits of individual advertising efforts - and not just in a monetary term.
The common perception among the general public is that you can simply set up a website and the people and ultimately the money, will come. As many of us know, this is definitely not the case!
Through my experience with previous sites, it comes from hours and hours of often tedious work to see decent results and even then this may not affect the conversion rate from browsers to buyers.

Despite this, i still believe that online business is the best way forward by a long shot - it just needs lots of hard work as in any business and cannot be approached with the mentality that it is easy money.

Just my 2 cents,

Chris

[Babycarseats]

my favorite expressions i heard is that it took me over 4 years to become and online success overnight

this is just so much work, maybe i should re think about trying to get back into the corporate world and all the office politics again

[IdeasMan]

I think it (online business) is great model especially for those working from home, but it needs to suit your skill set, you need to be really into it in my view. It is a real leveller though in terms of one person working from home being able to compete with larger companies.

[stevanz]

It honestly doesn't always look the same.. but perhaps you could make it look as good as it is by writing up for this and that.. but if you're nose is on it and you never give up on searching for the best way to promote your business then there's gonna be good answer in the end.

[Jason Bishop]

Great post Brendan,

I have not been in network marketing very long and agree. The "work" is fun, like never before. I get to meet and work with positive, forward thinking people and focus on my goals in life.
The personal development side of being successful in network marketing is of great interest to me. I have found many answers to my personal challenges within the training and mentoring that I am receiving.
It is enlightening to learn certain things like why people say no and to learn about the invisible barriers that we put up that stop us from being great.

Have a good day all
Jase

[jamcruise]

Online Business is a best business because of in online business all work are done very fast where in a other business is slower than a online business. In Online business 's safety is more than a other business.

[stevenhudson]

Hi Everone

On line marketing is low cost and easy to enter…..you only need 3 things to start a site, a product or service and traffic and a lot of hard work….. it can be done and some of the examples that have been very successful that I know of and have had some personal interaction with is Catch of the Day they process 150,000+ order per month started about three or fours ago. Crazy Sales 30,000 sale per month started six to seven years ago just selling phones…bit like Crazy John.

[businesstrader]

I suppose there is a misconception that everyone that runs a website, or some sort of online business becomes an instant millionaire with little effort.

I couldn't agree more. I have seen people in my circle literally lose tens of thousands of dollars with 'online business ventures'. In a nut shell they had no idea about online marketing or what is required to run an online business.

These people don't realise all of the work that goes into making these online businesses successful. Sure I get to work from home and takes breaks when ever I want, but the truth be told I am working from 7am to 11pm most days..........it's nice being the boss though.

[Jason Bishop]

Aside from whether or not you are successful and profitable online, the skillset and mindset required to be in the network marketing industry is worthwhile for anybody to learn. The industry expects that you will become an expert service provider who gives without want.
There is a huge learning curve if you are a newbie and some massive pitfalls for the uninitiated.
Tread carefully and get a good marketing training company, however, and there is no reason why you can't go to the top.
Really, how different are guys like Perry Marshall from you and me, we are all human and all have it within us to achieve greatness. It comes down to committment, hard work and your belief, not necessarily in that order.

[businesstrader]

Couldn't agree with you more Jason. Online marketing is no different from any other industry. If you are interested and want to learn, then there should be nothing stopping you. You will get out of it, what you put into it!

The reality is that 99% of online businesses fail. Its not something you can learn over night, so be prepared to put in the time and effort required.

Learn the industry before making a big financial commitment.

[Jason Bishop]

My entry into network marketing was more driven by a need than a want. I was diagnosed with Multiple Sclerosis back in May 2010 and am medically unable to work a "normal" job. I needed to find a way.
Now that I'm here, I love it. When I got into the industry, I spent $30 on approximately $1900 worth of training. (a self-funded proposal, which is the same thing I now promote) I have some monthly fees, about $70 which give access to the ongoing training, mentoring and my autoresponder which is more than worth it for mine. I've avoided the temptation of buying any of the upgrades.
As much as I would like to make some money out of this, my drive is to help people and to keep myself useful for as long as I can.

All the BEST!
Jase

http://www.MyLeadSystemPRO.com/ (http://jasebishop.myleadsystempro.com)

[AlbionColt]

Hey you are really impressive here. I believe that beginning your individual business, be it traditional or house based business is continually tricky. Many preparations are important prior to taking the final plunge. And if you are already in the water, loads of sharks will tear you apart ahead of you even make a single cent from your on the web business.

[madebetterbiz]

The web somehow has level the playing ground for the nobody like me and many others! What is the odds of a stay at home mom making money 20 years or even 10 years ago? Nil. I am now making a decent amount to supplement my family income by working at home when everyone else is at work or school. What does it do to my self esteem? Greatly. Yes, one must understand, especially those that are newbies, hard work and dedication is very important to be successful. One must have positive vision, positive believe that you can and take positive action towards your plan.