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ABC News carried a story of a man who was selling his 3-year-old Internet
business for 3.2 million with stock in the company that was buying. He
stated, " I want to do something else with my life. I just graduated from
high school and want to have time for college activities and have a full
social life. Besides I can invest and do my thing."
We have all read these stories. College students in a small room started
Yahoo. We read and at least hope that we can do something ourselves..
So many who read these things want a miracle? Ads for Internet opportunities
tell of that at least 100 thousand, at least a better home with a new BMW in
the three car garage. After all Bill Gates, and the person selling you the
opportunity made it.
Here are some things that must be considered to live a real life on the
Internet.
1) MOST BUSINESSES ARE UNDER CAPITALIZED. Only about 2% of all SMALL
businessmen are still in business 2 years after they start. Why should it be
any different on the Internet? The biggest reasons for failure is not enough
money. After you buy your computer equipment, you need about $400 to start
at least. Yes, there are those who started with less who made it. Ruth
Townsend of Cortland, New York started with free ads
(http://www.lifestylespub.com/). It is being done all the time. But only a
few make it. But the Internet business cost considerable less to start than
the hundred thousand needed to start most businesses.
2) LACK OF TRAINING. Some men and women think that owning a computer is the
key to success. The computer age is still just starting. We are the silent
movie stage. We need to learn and learn more. Take one course at a time at
your community college. The way computer science of going, we will always be
in need for more training. Spend at least an hour per week learning
computers, business skills. Admit that you don't know everything. When you
find something that you don't know, go to people who will help you. One site
has some courses about the Internet at http://www.sonic.net/~rwreyman/ Use
other people's energy.
3) NO DISTINGUISH BETWEEN GOALS AND COMMITMENTS. A goal and commitment are
not the same. To sell 50 ads is a goal. To be committed to making the sales
is hard work. Give yourself some slack, but don't let yourself slack off.
Make realistic goals and work towards it. Did you know that most fortunes
are still made one step at a time? Carry out one step at a time with
commitment. Make bit size portions and win one step at a time.
4) NO GOALS AT ALL. Define what you want. One my early advertisers didn't
want to be on the Internet, but wanted to be a weekend artist. He has the
talent, too. Do you really want to be an Internet marketer? Write down your
goals and the keep them in sight. Do check them daily. Some days you will
have holes in your plan, but by daily glancing at them, you will eventually
think the holes full. One goal that successful businessmen always have is to
take a percentage of their earnings and reinvest it. If you spent $100 to
take $200, pyramid with $150 to make $300. Plan your strategy.
5) TAKE TIME. In Mail Order that I came from, experts said that it took
about a year to learn that trade. I believe that it takes the same on the
Internet. Make a learning period first. Learn as much as you can. But unlike
mail order, I believe that you must continue to learn. I got an email from
someone in New Zealand once that outlined my mistakes. And told me that I
must change because in so many words he was an expert. There is no total
expert in this business because both technology and practice is still
growing. The persons who think he or she is an expert will eventually run
out of the expertise that he had because it will have changed.
The Internet is still as land of opportunities, but you must be realistic
and then work hard. Some will disagree with me, but I believe that one
should try until you get it right. Where else can you start a business with
$400 or less and have a chance to make it. Sound unpleasant, but some will
have to invest that $400 and about the third or fourth $400, he will make
it.
ABOUT THE AUTHOR
Ross Reyman is owner of Entrepreneur 2001 Online Magazine. He is also owner
the largest freebies site for Internet businessmen that contains free ads,
moneymaking, and freebies such as computers, money and others at
http://www.sonic.net/~rwreyman/ He will try to answer short questions from
his Internet addresses.
Written by: Ross Reyman
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