Starting An Online Business? The Pros And Cons | Online Business

Need a break from the tiresome, monotonous routine of going for work every day? Looking to earn a quick buck without a lot of effort? Wishing you were your own boss? Then, starting an online business would take first place in the list of things to-to-do. Money, skill, familiarity with the internet culture coupled with the more important common sense and patience are the prerequisites to start an online business. The rest depends on the entrepreneur whether he makes history or not!Starting an online business requires just a few basic steps. One starts by setting up a site, deciding the products to sell, creating an online store, setting up a merchant account for cash transactions (PayPal), adequate marketing, fulfillment of your business terms and transactions and finally making sure good customer service is provided to keep them hooked. How easy would it have been if that was all there was to it! The fast growing industry has several benefits and drawbacks especially for beginners.Pros· You can be your own boss. Nothing could be this alluring.· Low cost of entry into the virtual market. Beats the conventional one any day in terms of investment and its Rate of Return!· Access to global markets. Breaking boundaries from the usual confines of four walls of a building or a locality into an international arena would give new dimensions to the business. An open market ensures many shops and a comparison of the prices.· Online business is an automated, 24/7 profit center (provided you make it). The flexibility and speed are its highlights- the speed with which it can be started and the flexibility in timings and place to suit our convenience.· Customers need not know the size of the company.· The profit potential of an online business is large.· Resources such as office space, rent, travelling cost etc. are not required. That much more cash to invest!Cons· Starting an online business is riddled with potholes which, if not watched out for, can be fatal to one’s business.· Details, details and more details. Plan every step of your business. When you’re done with that, do some more planning. Plan even for successes. Success can be quite a handful if it’s not handled well. A good business plan is a must to survive in the dog-eat-dog world of online business.· The allotted budget should be preferably at least double of the expected expenditure.· Infinite patience is required as it may take forever to get things cooking, or to build an identity and credibility.· The fierce competition should be closely monitored· The drawback of having no personal contact with the customers should be mitigated in other ways especially by providing good services.· Marketing is the most important aspect in starting and running an online business. If the people do not know about its existence, however efficiently it is run, it would have all been for nothing. Utilize resources like SEC, PPC etc.· Be prepared to face technical issues. Choose the right server and leave the money technicalities to an expert. Be aware of the law too.· Be informed, be on your guard and always think twice if the idea for business is a new one. There might be reasons why it was never done before. It helps to talk to people in the know-how.The revolution is happening. It’s time for all and sundry to sit back, notice and participate. Online business boom has proved that its benefits are far reaching than the drawbacks. Starting small and being passionate about its execution is vital to its success. Join the new movement and be a part of an industry that is taking hold of the world market by storm.

Bio on Kes Phelps, Freelance Web Designer

In 1996 Kes Phelps asked himself what are his natural abilities were and what he enjoyed. He had always been creative with a passion for art and design, and also technically minded. The Internet boom had just exploded and so he made the decision to carve a career in Web Design.At the time there were no Web Design higher level education courses in his home town of Norwich in the UK, to which he was committed due to family reasons. The most suitable and highest profile course was the Applied Computing degree at the University of East Anglia which, although was predominately a software engineering degree, did have some modules related to web design and the programming and database skills would stand him in good stead for developing web based applications.Kes successfully completed the prerequisite Access Course in Engineering and Technology at the Norwich City College and was offered a place on his chosen degree which he went on to complete, with honours, in 2000.His first position after graduation was at British Telecom working as a call centre operative. Then after six months, a secondment within BT Retail arose, building an Intranet site for a team of project managers. He put himself forward and his application was accepted.This short term contract was invaluable in his personal and skill development. Here he taught himself ASP building a small scale, web based application. He was also given the opportunity to develop his project management skills gained at university.From there he had a brief spell as a freelance web designer but due to lack of experience, struggled to make a comfortable living. It was clear he needed to get back into the workplace to gain more experience and after six months as a freelancer he managed to find work with mProvision, then known as mGenie.mGenie was an internet marketing company owned by Fox Tucker. Fox was well known within the affiliate marketing arena and helped create the DGM’s affiliate marketing network.This wasn’t just an excellent opportunity for Kes to hone his web design and development skills, but also to learn about the entrepreneurial aspects of online business from his mentor, Fox. After one year he was appointed Head of Technical Development, designing, developing and project managing internet solutions that delivered Mobile Phone Media. It was here that he became fascinated by his now specialist area of Internet development, search engine optimisation.After three years at mProvision he went on to join, a highly successful online poker portal, as Head of Mobile Content. When the company realised his search engine optimisation expertise he became involved with their online marketing. After ten months however he was made redundant due to role change.By this time, however, his skills and experience were sufficient to go into business as a freelance web designer, developer and SEO. This had always been a dream and something continuing very much in the background but now there was an opportunity to take it to another level. He redesigned and optimised his site, which you can get to via the link in the footnote of this article, and slowly watched it climb the search engine rankings.As it climbed the enquires began to come and now Kes Phelps has a steady flow of work, specialising in designing, developing and optimising internet solutions for small and medium sized businesses.

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