There is opportunity everywhere online. EVERYWHERE. It has to be the 10th wonder of the world that anyone with an internet connection can start generating money using the internet in one of dozens – maybe even hundreds – of ways for free. It makes traditional businesses look much less appealing with their lower margins, higher start up costs, and more planning.

That’s not to say that there shouldn’t be any planning that goes into internet businesses. Of course there should be a measure of planning, but it looks a lot different online than it does offline. Here are just a few differences:

  • 5 year plan vs 6 month plan: Things move so fast online that it can be difficult to plan out strategies to far in advance. Sure, there are evergreen principles, but techniques and methods are here today and gone a few hours from now.
  • Ready, Aim, Fire vs Ready, Fire, Aim: Online, being first to market is more important than doing everything 100% right. Jumping in and starting something is often pretty easy and so it behooves entrepreneurs to just get started and figure things out as they go rather than putting too much time in getting everything perfect before launch.
  • Focusing on one thing vs focusing on multiple things: Let’s be real, your business (or mine) could be done tomorrow. There is no small number of businesses that have been put out of business by one of Google’s algorithm changes or by another company with a better idea, cheaper prices, or a different perspective on the same services. As soon as possible, it’s good to diversify your offerings so one change doesn’t put you out on the street. Also work to cultivate your skills and the skills of your workers so that you can quickly adapt to whatever changes need to happen.

Again, opportunity is everywhere online, and one of the best things you can do is just get moving!

By | 2013-02-21T16:36:18+00:00 February 21st, 2013|Archives, Blog, Entrepreneurship|0 Comments

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