Are you opportunity seeking in entrepreneurship? One of the biggest opportunities for entrepreneurs today is the internet. The internet can now allow anyone, regardless of experience, to trade internationally. With business models like drop shipping and affiliate marketing, you don’t even need to own your own company or even have any dealings with customers personally.
Both the business models of drop shipping and affiliate marketing can allow you to work remotely sending website traffic to other people’s offers and services. This kind of business can be operated from anywhere too. All you need is a laptop and internet connection. The best about thing both these business models is that they are scalable and anyone can reach a global audience with online marketing techniques which are simple to learn.
“If somebody offers you an amazing opportunity but you are not sure you can do it, say yes – then learn how to do it later!” – Richard Branson.
Opportunity Seeking In Entrepreneurship – Why An Online Business?
So why choose the online business model? There are various reasons why an internet business ticks so many boxes for entrepreneurs.
Working from a laptop from anywhere can give the kind of freedom and flexibility which is unknown in most other businesses. Even with a physical business, you need to be around in order to keep things runnning. An internet based business is different, you can maintain an internet business from anywhere in the world and automate many of the procedures involved. This makes it one of the most flexible and portable businesses available today.
The automation involved with an online business means it can run continuously, even when you aren’t physically present. A website, for example, is the digital equivalent of a physical store front. To run a store continuously, you need to emply staff and run the physcial building with all the costs involved. A website runs continually at very little cost and requires no heating, lighting or staff in order to do so. Other tools used include online advertising and sales funnels which can also be automated and scaled up to reach ever growing international audiences.
The low cost of an online business is another element which attracts entrepreneurs. If you’re opportunity seeking in entrepreneurship, an online business might be the answer. Most businesses and franchises have huge startup costs attached. Staff, equipment, franchise fees and building costs all mount up and make the possibility of just opening a business prohibitive in many cases. An internet business, on the other hand can be started for much less and it still gives you the opportunity to reach a global audience and scale up.
An Internet Business Is Scalable
A physical businesses has many more limitations than a digital one. Location is the main problem. Even in a good location, there is a limitation as to how many customers will travel to the business. An internet business can instantly reach a global audience. With the right products this can mean scaling up can be done very quickly, too. Digital products, for example, can be downloaded from the internet for free.
This means that as long as your advertising is targeted to the right audience, you can sell instantly over the internet and scale up globally. Scaling up is much easier with an internet based business. It doesn’t require larger premesis, more staff or more sophisticated equipment either. Once the business (and the automation) is in place, scaling up is simply a matter of targeting the right customers.
Leveraging Your Time vs. Trading Time For Money
Are you opportunity seeking in entrepreneurship? Part of being an entrepreneur is looking at things a little differently than most. For example, most people trade time for money. Entrepreneurs look for opportunities where they don’t have to trade time for money – or at least where they can get more leverage from their time.
Having a business can give you this leverage. Most businesses however, need staff, business premesis and have huge start up fees attached. An internet business offers greater flexibility and much more leverage than the average physcial business does. It’s start up costs are much lower than for many physical businesses, too. Your main cost with an internet business will be training and education.
Scaling up an internet business does cost money too, particularly if you are using paid advertising. This is the quickest way to grow an online business. Paid advertising lets you instantly start a business and bring in customers from the internet. There are already people searching for your business, before you even start. Tapping into this online marking is a relatively simple process once you know how. Access my ebook The Ultimate Guide To Online Marketing to learn how.
Opportunity Seeking In Entrepreneurship – A Digital Business Model
Digital products offer anyone the ability to sell anywhere and virtually eliminate the costs of postage and storage. By selling digital products your profits can drastically increase because your costs are vastly reduced. Digital products typically pay out 40% to affiliates. Affiliates don’t own the products either, they act as ‘middle men’ to send customers to websites which sell them. Digital products are good for a number of reasons:
- Sell globally
- Sell without postage costs
- No handling or storage costs
- Affiliates typically earn 40% of the cost price
- No need to build or create your own products or company
- Very scalable
- You can sell them over a website or even through an email.
- You don’t have to talk to or deal with any customers personally
Which products you choose to sell online can have a dramatic effect on how well your business does. Learn how to start your own online busines with the right products, tools, strategies, the right training and with this online community.