Thinking About Launching an Online Business? A Reality Check: Myth and Facts

business-online-factsMost of us start online businesses without knowing all the facts. We think it’s really easy to earn money online compared to offline businesses, but the reality is quite different.

Is it easy? – It’s like an offline business—not at all easy, especially when so many people are trying to earn online and almost all niches (that I can think of) are saturated. There is tremendous competition in this area, which means you need to work extra hard.

Is it a quick earning option? – If you have limited time and money to invest, then no, it’s not a quick earning option. It takes time, even that will test your patience. If you are here because you heard you can make money quickly then think twice.

Are you prepared? – It’s not necessarily fun. If you want to start a online business as your main income source, then you need a strong mindset and good planning, just like you would need for an offline business. A strong mindset will help you determine your plans for earning and achieve that successfully.

Is it possible? – Yes, it’s surely possible if you understand what’s involved. Most online businesses fail because people think it’s an easy and quick way to earn money. Most people only put in minimal effort to run an online business. Once they see they aren’t earning money as quickly as expected, they get frustrated, lose interest, abandon the venture and tell everyone it’s impossible to earn online.

It happened to me before when I was in college. I heard it was easy to earn online, so I tried my luck to get some extra money, but I got frustrated within a few months after only earning cents. Until I gave it my best effort, my online business didn’t give me much.

But, as I said above, it’s 100% possible to earn online; you just need to be aware of the effort, time and planning that is required to make it succeed.

There is always room for new strategies, creative ideas, better navigational sites, etc in any niche. If you think you can provide better information or can fulfill people’s needs in a certain area, then yes, you can earn income on the Internet.

As I mentioned before, it’s a lot like an offline business. For example, when I was young, I always heard it was hard to get a job because there is so much competition. However, I never tried to get a job because I started running my websites while I was in college. When I needed an SEO expert, a developer, or a writer, I always posted ads in the newspaper. Yeah, I’d get loads of applications, but I realized pretty quickly that here were few qualified and honest people with good knowledge and experience.
Because of that, I don’t think more applications necessarily mean more competition. If you have the right knowledge and can efficiently complete the required task, then there is less competition for you, and companies always need good employees.

The same concept applies to online businesses.

There are loads of sites that come online everyday in every niche, but that doesn’t mean they are necessarily competitive. If you can provide better service in your niche, then you will stand out from the crowd.

This article is not intended to discourage you, I just want to make you aware of the reality. I want you to understand the facts and obstacles so you can start your business with confidence, a strong mindset and in the right direction, which are all necessary components to start any business.

Also, if anyone has additional points and tips which can help a newbie, please include them in the comments. And please don’t forget to give your reviews on this.

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