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Starting an Online Business: "Get Rich...Slowly"
“Get rich quick!”
“Make easy money online!”
“Big ticket to wealth!”
So many people are obsessed with making money online. They make it seem like it’s the magic pill that will solve all their money problems. And they make it seem like anyone can do it over a weekend without any effort.
I’m sorry, but there are no shortcuts to becoming rich. If you want to have a million dollars, you will have to earn every penny of it. Online or offline; it doesn’t matter.
An Online Business Is Still a Business
Both online and offline, people exchange their money for products and services on a daily basis. In order for you to make money, people have to think that what you have to offer them is worth more than their money. That’s why I say that there are no shortcuts. You either give them an excellent, fairly priced product or they won’t give you their money.
Online businesses and offline businesses have a lot more in common than you think. So let’s start thinking about online businesses as a REAL BUSINESSES in which you have to:
- Offer a competitive advantage (lower price, higher quality, easier to use, faster to use, whatever)
- Get a high gross profit margin (if you buy widgets at $100 and sell them at $105, your business is doomed to fail)
- Figure out your business model (who is your customer, how can you reach her and how can you do it in a cost-effective way)
- Invest money and time (the less time you have available, the more money it’s going to cost you.
Author: Zeke Camusio
Copyright 2009 StartupNation, LLC