Probably one of the nicest things about owning an internet business is the freedom you get. My staff works from home, and I can contact them through Skype whenever I want. And, with the marvel that is mobile broadband, I’m free to work anywhere I choose – the whole world’s my office.
Recently, I’d taken a particular shine to the mochas served up at a nearby coffee republic. Everyday, I’d turn up with my laptop and set-up shop with my wonderfully warm, chocolatey mocha. Over the weeks, I’d struck up quite a friendship with the franchise owner, Ray – we’d talk about how cold it is (you do that when you’re British – moan about the cold, and then a few months later subsequently moan about the heat), about how mighty Man Utd are looking this year…and business. Now, pay attention to this closely if you happen to be someone who’s on the cusp of making a decision on choosing an online or offline business…
Speaking with the owner about business, he said with a sigh “It really needs to be a lot better. I’m not making any money. In Fact, I’m losing it hand over fist” – I asked him how much his coffee shop cost? He got into a Coffee Republic franchise – the franchise fee itself was knocking on the door of £25,000 (approx $37,000). Then there are huge costs such as machinery, infrastructure, staff, decoration, insurance, ludicrously expensive cappuccino machines….all in all, the set-up was around $200,000…then at the end of it, the most popular product sells at $4. When you invest that much into a business, it needs to bring in a LOT of business just to break even. This is exactly why so many offline businesses are collapsing…they are cost intensive businesses, often surviving on wafer thin margins – some even bridging their cash calls from one month to the next with loans. That’s the harsh reality of life in the bricks and mortar business world, and if you’re reading this as a total business newbie then please understand this…
“Online is the BEST place to start a business.”
In This Century, And This Turbulent Economic Environment Online Is The Only Place That’s Pine Fresh And Rat Free…
In the past, I’ve been involved in the rat race, and it wasn’t nice. A job certainly is one way of being involved in the rat race, but owning an offline bricks and mortar business isn’t far better. You still have a strict timetable. You still have no real freedom to speak of.
Online, it’s possible to get something set-up and started on a shoestring budget. Online, even if you don’t make a success of your first business venture (most don’t), you will not have lost your shirt. You will not be in the unenviable position of having a huge cash gobbling business that has you scrambling around to get one bridging loan after another – just to keep the creditors from your door. Because that month, you hardly sold a thing but the fixed cost bills still came in like clockwork.
Online, there are multiple ways of generating income – you can sell products, generate residual commissions, sell advertising space, do JV’s with any number of similar yet non-competing businesses and a thousand other things. Online, you can pick and choose your time and place of work. And, you can be in the wonderful position of owning a multitude of niche businesses, all contributing to your bottom line – and keep setting more and more up. All this while your neighbours, friends and family still slave away – rodent-like, in their jobs, or their offline businesses.
Because there’s only one thing that you need to remember about the rat race – even if you win, you’re still just a rat.
So, if you’re reading this as someone who’s deciding whether to go online or offline for their first business venture, the answer could not be more easy. Make it online.
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