While for the past two years or so on this blog I have only talked about the benefits of running an internet business – mobility, recurring commissions, user generated content. When you are working towards a goal it is easy to look past any flaws or negatives in your plan, which has prompted me to put together this list for Problogger’s group writing project.
1. Difficulty in explaining to people what you do
If you meet people for the first time it is never easy explaining what an affiliate or internet marketer does. Especially without it sounding like you are running a dodgy money making scheme.
2. Obtaining bank finance
If you would like to launch a new internet business which requires capital it could be very difficult to obtain finance from traditional sources.
3. Limited human interaction
Your customers are more than likely in a different part of the world and your only contact with them might be over the telephone or through email.
4. Long hours sitting at a computer
No matter how much you automate or outsource your business you will need to spend long hours sitting at a computer and not too far away from an internet connection.
5. Limited physical assets
Traditional businesses build their value by increasing their physical assets like, property, stock and machinery.
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A major one is that you don’t really feel like your doing anything.. I got into this business with the idea that it would be a springboard to launch a traditional product. It ended up that I am thinking I will just use the money to buy more traditional assets such as real estate.
I agree with your post. Not everyone is suitable for an internet business. And I also agree with your five reasons.
I would also like to add that being in the internet busines takes a lot of time and effort just to get on your feet.
A nice post!
If you have time, why don’t you drop by my post:
http://mobileko.blogspot.com/2007/05/snatch-top-5-tips-on-how-to-be.html
It’s also an entry for the problogger top 5- group writing project. ^^ Goodluck to us all!
After working in the regular work force, I figure out that the internet world is for me. I just like to be independent that way. But yes, it is not for everyone.
Great read for the group blogging project. Check out mine on my blog.
Recently I read that if you put ads on your blog you’ll do good to treat is as a business.
So that would mean my blog’s an internet business already.
Oh dear.
I hope to meet some of my IM friends at seminars someday. I’ve actually enjoyed the teleconferences, skype chats and emails. I don’t, however, enjoy the sore spot on the bottom of my tailbone. I gotta get a better chair!
Glad I found your blog on the top 5!
“1. Difficulty in explaining to people what you do”
My family and friends know I “do something with computers and the internet”
It’s just too hard to try to explain…..