How to Pick The Best Online Business- Part 1 of Series
Let’s Compare Bricks and Mortar Business to Online Businesses
This is part 1 of the series on How To Pick The Best Online Business
Please understand that our society can not perform effectively, if we all become smart entrepreneurs. We need the mechanics, janitors, plumbers, road workers, nurses, doctors, taxi drivers, train drivers, police men and women, coffee shop & restaurant workers. You get the drift.
This series is for people that:
- Want to be an entrepreneur and have been banging their head on the desk, trying to do it on their own
- People that just can’t hack the 9 to 5 (or is it 7 to 7)
- People that just want to make more money, without having another job.
- Mums that want to stay at home – don’t want to go back to ‘Work’, that ‘Job’
- Or are you like me, close to retirement or already retired and petrified how we could afford to live.
- Or are you just smart out of the gate (school/college) and don’t want to be stuck in the Rat Race…
If you are an entrepreneur who has a physical business or product and want to market it better. Then by using the information I am going to share can dramatically increase your profitability.
What is your Plan B?
Why be an Online Entrepreneur over a Bricks and Mortar Entrepreneur?
I am revealing the findings from over 35 years experience of practical experience as an entrepreneur into 20 plus different business! ventures. Plus the insights I have gained from having successful mentors and coaches that are making hundreds of thousands (and some millions) of dollars. Working when they want and how they want, with little pressure and more time for themselves.
Just want to clear up another thing!
YES Anyone Can Make More Money,
BUT NO ONE can Make More Time. Except with the (frictional) Dr Who’s ‘Telephone Box’ or the Back to The Futures -‘DeLorean’, the one Michael J Fox used to travel in time.
So when you are reading the articles please think of what time you have on the planet – How do you want to spend it.
More importantly… Please think of what contribution will you make to humanity, without personal gain. Just to make a better today or better tomorrow.
Who can you help… do it because you are human..
Nicky and I (yes we have been through a few significant challenges) and now we appreciate life (TIME) we want to help others wake up! to their potential. Our mission is to improve life styles and cash flows, what’s yours. Please think about it!
OK Back to … Why be an Online Entrepreneur WINS over a Bricks and Mortar Entrepreneur?
- Cost of overheads to have a business premises
- Fixed times that you need to be at work serving customers, which is normally a hell of a lot more than 40 hours a week (what the full time staff work)
- You have time off, what happens to the business and profits?
- Do you have staff?
a/ Cost to have them there at work (superannuation, sick leave, insurance etc)
b/ The cost not to have them at work (off sick, family emergencies, holidays etc)
c/ They are a pain in the Butt.. have you noticed if it is a Monday or a Friday and the weather is great, surf is pumping, then the staff are suddenly sick!!
d/ Stuff ups… on and on and on.
- To make more money, what do you do? work more hours, open longer Or do you risk it and up your prices and become un-compeditive?
- What happens if, you are a printer and you normally charge $250 for 1,000 business cards. When Vista Print can do the exact same cards for $59 how do you justify that?
- How do you get more customers, advertise a cheaper price and get into a price war and cut your own throat?
- How soon after you buy the business, franchise etc do you get to that break even point, 2 years, 5 years. Or are you cash drained first and go under?
- How is family life??
- What happens if you get sick, I mean really sick. Like I was in hospital for 7 weeks the first time and then in and out of hospital for 8 years and 5 surgeries. How would your business look?
- How hard and what cost is it to replace yourself if something happens like holidays, sickness?
So when you buy or start a small business, like a lower cost franchise, (compared to say a McDonalds) were you are buying a system and sharing in advertising and brand awareness. Then you are paying the franchisee their cut for your ‘sweat and tears’. What happens if you have a medical/family issue that stops you from doing the work. Who can step in? So basically, you bought a job…. All cool I’ve done that, been there BUT I Woke Up 🙂
If you purchase a more expensive franchise. You’d be shelling out over a million dollars or so and say buying a McDonald’s franchise, you get all the systems, the operation is big enough you don’t need to be there all the time.
However you still have a huge list of challengers to contend with, including the list we identified above. The big downer is it will never, ever be yours. You just have the license to operate under their umbrella, on their property, no control and no chance to buy the property it sits on.
Yes you can make significant amounts of money. However, STOP and look at the investment for the return and now how long to just get the return back? ROI and Time….
Plus how do you scale up a McDonalds, You can only cook and sell, so many hamburgers in a day!!
Now on the other hand there are so many Online Businesses, Smart, Good, Bad and Sad
I will let you into a bit of history.
My trade is an Auto Electrician and then I got my car mechanical repairers license, I have managed and owned a dozen or so auto repair businesses. Then back in 2000 I started a website development business.
So for the last 17+ years I have helped people either start an online business (shopping cart or drop shipping) or help exiting businesses improve there businesses online.
In the next article, in this series. I will uncover the pit falls and advantages of Online/Home Based Businesses like MLM (Muilti Level Marketing), Normal Affiliate Marketing, Shopping Carts and Drop Shipping etc.
Great site. Plenty of useful information here. I am sending it to several friends ans also sharing in delicious. And certainly, thanks for your effort!
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