Online Business Success – Why Internet Traders Now Succeed in All Markets

Surviving and Growing in Any MarketAmongst news of businesses closing and people being laid off there is almost always the good news that turnover of internet businesses is holding up well. This success has nothing in common with the bubble and hype of the 1999 – 2001 dot com boom. Here are the key reasons why online businesses survive well in any market.1. Limited start-up costs.There is no need to invest millions in market research or take out a crippling bank loan. Despite the global reach of the internet, a “newbie” can do market research and start an online business within hours for just a few dollars, using only a basic PC, an internet connection and a clear plan. Some forms of online business do not even need a website or even a customer list.2. Limited ongoing maintenance.Having set up a online business, anyone trading online can let the systems take care of contacting prospects, supplying services, billing and taking payment. Many of the most successful online traders just send out a few new messages to their client base each week, and spend the rest of the time thinking up new ways to repeat their successes, or plan new places to visit. If businesses are set up right at the beginning they can be left to run themselves, sometimes for years at a time.3. Unlimited growth potential.With the global reach of the internet everybody in the world becomes a potential customer. Far from the market being saturated, thousands of new internet connections (and therefore new potential customers) are being added every day. Furthermore the client base of an online business can be contacted again and again with new products to try or be offered solutions to new problems. Therefore the possible permutations of new products and new clients are literally infinite.4. Businesses strategies can easily be transferred across markets.Skills and techniques that are developed in one business are not restricted to that sector. Business that sell books, find places to live, or sell airline tickets seem totally different from each other, but they all do very well as online businesses. The easiest routes for beginners do not need the online trader to handle physical products, but once the systems are up and running there is nothing to stop the online business from developing in any direction its owner chooses.5. New markets are opening all the time.As more and more people go online, they get used to buying online. And just as the potential marketplace for the online trader continues to grow so the number of products and services that can be bought and sold online develops to match this exploding marketplace. It would be unwise for anyone to predict a market that will not be affected. In fact areas that seem least suitable to an online world are sometimes the ones that can use the power of computing to analyze and process facts the best of all.6. Digitalization applies across every sector.The common factor in all products that can be sold online is the use of digital technology. We have known for decades that computers are brilliant at handling complicated arrangements of “0”s and “1”s at incredible speed. Now with ever-increasing processing power and bandwidth there is no area of life that cannot be represented and communicated online globally at the speed of light. There is no reason why this digital representation of fact, business or art cannot be sold or licensed to a worldwide audience or be used as a portal to trade physical products.7. The “Bricks and Mortar” world can benefit as well!At an early stage in the online revolution there were two main theories: (a) that online trading would kill off real world shops and businesses, or (b) without a physical presence to add credibility to a virtual business almost all online business would vanish in the same way as hundreds did when the dot com bubble burst. We know now that major supermarkets sell food online, builders offer their services through the web and travellers can take a virtual tour of their holiday hotel and destination. There are almost no bricks and mortar business that cannot tap into the internet market, whether for a simple directory listing or as a vital sales outlet.The Need For An Online BusinessThe challenge of the online trader is not to assess how viable it is as a business medium. The vital issue is how to exploit the global online marketplace, and how to set up a business that will be robust and capable of fulfilling its unlimited potential.