That statement couldn't be further from the truth.

Creating and managing an online business can become quite time-consuming and may require more funding than originally planned.  However, if developed and managed properly, being the owner of a successful online business can be lucrative enough to fund retirement and build wealth for future generations.  Also, because it is Web-based, it could be staffed, managed and operated from anywhere worldwide, wherever there is an Internet connection.  How can this be done?

It is important to understand the return on investment up-front which is necessary to justify the required initial and on-going investment.  However, it takes a lot of time and effort to first, understand HOW the Internet / Web REALLY works, then be able to effectively apply its attributes and power to create, update and promote a secure and successful online business with longevity.  There is a caveat to this: a business that works well in the 'real world' may not transition well onto the Internet.  The up-front research should be able to reveal this.

After selecting the business, making an acceptable profit usually takes more time, money and effort than what a newbie or even a seasoned entrepreneur thought it would be, even for turnkey website businesses. There may come a point when their business decision requires reevaluation.  For example, many may decide to just give up if their online business took a monumental effort and became a monetary drain and an ultimate turnoff, especially if it did not produce the desired results in what they thought was a reasonable timeframe.  For others, given similar obstacles, they might still welcome the challenge to produce better results, so they stick with it.

This 'stick-to-it-ive-ness' characteristic, most likely, is because they believe that, with some tactical adjustments, the long-term growth potential of their online business could make it all well worth it.  They may recognize the need to take on a partner or an investor to bring the project to fruition.  This would really depend on the individual's personality, overall capabilities, and on the project itself.  They undoubtedly realize that no business venture should be considered 'get rich quick' else, key factors like logic and common sense would prove absent.

Market testing and data collection that pertains to increasing and sustaining long-term Web traffic is just as important as having the website itself.  Knowing where to find the appropriate resources and how to effectively apply them to jump-start and accelerate this traffic flow continuum requires the following:  a lot of reading and the ability to separate fact from fiction and hype; a trial-and-error process that increases know-how; patience; other human resources to complement the entrepreneur's abilities or lack thereof e.g. data analysis, programming, graphics, webmaster duties, et al.; money to support the online business until it becomes self-sustaining; an advertising budget; other relevant talents and skills; management ability; and much more.

Driving traffic, especially targeted traffic, to a website is both an art and a science.  Given the project's pre-defined constraints, in order to achieve the desired traffic volume within a chosen timeframe, it is strongly suggested that the entrepreneur narrow down the traffic-producing venues in which to perform market testing and create a controlled budget to support that phase.  Then to help secure the longevity of the online business, it is strongly recommended that the updated future plan includes reinvesting a portion of the revenue for additional market testing and general upkeep. This should be considered an on-going process.

However, before considering the Web traffic issue, the entrepreneur must identify and understand the target market; know who their real world and Web-based competitors are; know how to capture market share without sacrificing profit; create a website that is consistent with the company's message; incorporate logical navigation strategies to direct visitors to key areas of the website; select an appropriate, attention-grabbing and marketable domain name(s) that is easy to remember and is consistent with the website content; and incorporate affiliate marketing so that the website generates income separate from the products and/or services being offered; etc.

Knowing the do's and don'ts in order to accelerate the Web traffic process is also just as important.  The entrepreneur's actions, based on a misconception about how to bring visitors to their website, can get them kicked off from their Internet Service Provider (ISP) and/or Web host, and even off of search engines.  Also, depending on how far they go with that misconception, their actions may also land them in legal hot water.

If too much attention and energy is focused on short-run gains (e.g. I need to make more money NOW), these entrepreneurs are likely to become frustrated over the long haul, which can actually be short in duration if they are not careful, leaving them wondering why self-employment still remains a hard nut to crack.  This is usually why folks eventually give up their quest, and usually at a financial loss and added emotional distress.

Instead, if their business plan with cost-control elements is designed and executed effectively in the beginning and is maintained, revisited and revised as often as necessary to secure the business' future, it could become less costly in time and money to market and sustain the business in the long run, hence increasing its success and profit potential.  This, of course, assumes that the public continues to want or need what is being marketed despite the overall market climate.

Hopefully, the readers will now know that having a website or Web-based business can become a double-edged sword if they do not know what they are doing.  Also, they should know that there can be a price to pay for using a free website for their business or trying to market a turnkey business; each has its own misconceptions.  That is a topic for another day.

Therefore, to those who are looking to start an online business or a real world business that uses the Internet / Web for marketing and advertising purposes and/or for daily operations, my advice is, before spending your hard-earned or borrowed money, slow down and research the Web topics mentioned here in addition to what is needed for your proposed business venture.  If you try to start a business without having sufficient knowledge in either aspect, you can make your economic situation worse and unmanageable 'in a New York minute!'

If while on your journey you have questions regarding how to begin, how to proceed, how to shorten the learning curve, etc., feel free to Ask Us!

Copyright ©2008 International Business Network, LLC.

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