Business, in general, has its own characteristics. There are several, but I’m staying with having a business means having set up a system that works alone. Either because you have employees that carry day to day and/or because you have assembled a series of automated systems for the sale and distribution of your products/services. Think, for example of an online store of digital products (music, for example).
How to set up an online business?
If you are thinking of setting up a business on the internet, I think that your online business project should meet a series of very specific criteria:
- You should try to study business ideas with the future. By this, I mean basically two things: accompany a traditional company to make the definitive leap in the digital economy (think about the different actors in the book industry, for example) and/or support initiatives that accelerate the globalization of the economy – think of the great market places for offshore services (outsourcing).
- Good online businesses are usually scalable businesses. Try to take advantage of all the advantages of the Internet channel and distribute knowledge by selling digital products. By doing this, you minimize the cost of selling your products (it is produced once and sold for thousands of units without extra cost), and you forget about the headaches of logistics, including managing your working capital and Its difficult treasury.
- Good online businesses are low investment businesses. And this is very positive. With your desire to work and your idea, you can launch yourself for less than € 150 / year (with this you will buy a domain, a hosting plan, and a premium template). Delay all you can formalize your business activity.
- More than ever, good online businesses rely on developing a system that works alone.
- Although the objective of passive income is difficult to achieve, I think it is essential that your business contemplates all possible ways of selling without your direct involvement in business operations. And I’m not thinking of having employees.
I think that big online businesses can be set up alone, without investors or employees. Once the model is validated, in a second phase, you will wonder how to accelerate and leverage the model, with or without employees, with or without investors.
Online Business And Business Success
The rules of business success have not changed much. Nor is the three or 5-year mortality rate of new businesses. Avoiding business failure l is not a simple task.
But we are living moments of great changes, demographics and macroeconomic, microeconomic and technological changes. All at once, at tremendous speed.
Look at it as a unique opportunity for you. Get inspired by other digital entrepreneurs who have already travelled the same path.
Do not fall into the trap of safe work and loyalty to a company.
With globalization and technology, in 10 years’ time, the number of middle managers and knowledge workers will have fallen in Europe and the US. in favour of cheaper markets. It is neither good nor bad, as long as you take the reins of your (professional) life from today.