Business Articles
10 Internet Business Myths
Here are 10 facts to help you clear up some Internet business myths.
Over the past decade, there have been thousands of new businesses established around the world. These entrepreneurs have made businesses possible and successful, though many still seem hesitant to embrace the Internet. They believe websites and the Internet are too complicated and that it does not affect their business. Their hesitancy comes from 10 most common myths about business on the internet. Myth
#1 – Everyone’s already doing it. You can find plenty of evidence to support this myth when you look around. Just about every company has a Web site these days. But nice looking images, just isn't commerce and it does not result in profit. You'll find that there is still many ways service can be provided utilizing the Internet. Myth
#2 – It is too late now for the Internet. While the easy wins (brochures and price lists on the Web) have been achieved, "we're still very early on," he said. The price and efficiency gains of marketplaces and real supply chain integration have barely begun, collaboration via the Internet is just starting to come into play, the deployment of broadband drives more consumer activity, and we are only just beginning to combine data from offline physical-world sources via wireless. Myth
#3 - The Barriers To Entry Have Never Been Lower. Launching a Web site is easy. And putting up a Web site to transact commerce is easy these days. But effective, scalable, and successful Internet businesses are created and launched with precise and strategic plans. Myth
#4 - Buying online was a fad. Buying online was a fad does not hold up against statistics that are showing 30 percent of US consumers had purchased online in the last three months, up from 26 percent in the previous year. Myth
#5 – All you need is a great web site. What you first need and where it starts is a well-defined service. If you don't have a clear picture of your customer and exactly what you're selling, the best web site will not get you profits and clients. Before you build a web site, you should know who your target market is, how to describe your professional specialty, and what specific benefits your work provides for your clients. Myth
#6 – You just need to write something on your website. The content of your site is much more important than the design. Yes, you should have a professional-looking site, but a brilliant design and dazzling graphics won't pay off anywhere near as well as a clear explanation of why a client should work with you. Useful material such as articles, assessments, and other samples of your expertise will go much further to persuade prospective clients than flash intros and interactive menus. Myth
#7 – More traffic translates to increased profits. Before spending money on banner ads, web directories, or pay-per-click listings to drive more visitors to your site, you need to be sure that they'll want to do business with you once they get to your site. The site has to make sense from a business perspective. Myth
#8 - My business is only local. There's no such thing as a local businesses anymore in today’s economy. With the Internet everything these days is online and visible to the world. Myth
#9 - I don't need a website. Why would a business not want to be open 24/7, 7 days a week, all year essentially for free? It is the fastest and most convenient way to communicate with everyone in business worldwide. Myth
#10 - The internet automatically will make me wealthy. As with any business especially on the Internet, great business sense and timing is the needed success formula. Doing business online requires a clear strategy and plans.
