Starting your own online business is an excellent way to leverage the Internet for financial gain. The Internet is still quite a recent phenomenon.
However every since it began people have been working at ways to take advantage of the Internet for business purposes and to make money.
Early on there were people who thought that the net would break all the rules of conventional business and that if they figured out the secret they could sit back and watch the riches roll in. This attitude has led to many people the world over to sink their time and money into "programs" from gurus that guaranteed the secret approach to starting your own onlines business that would earn millions.
Conventional business people fell into the trap of thinking that the net was going to bring some new and amazing golden age. This caused over inflated companies with no real business model to receive millions of dollars of investment. A bubble started to form in the late 1990s and like all bubbles it quickly popped.
The Internet never provided anyone an easy way to make money and it never transformed the traditional rules of business. All it did was create a new field to play on.
People who have stopped chasing the elusive secret and have stopped listening to the gurus and have actually knuckled down and worked hard have been able to utilize the Internet to grow profitable businesses that give them financial freedom.
Although it is no easy road the Internet is a great place for a young man to start a business and I want to convince you why. Starting your own online business will give you amazing freedom and the ability to escape the rat race and wage slavery before you get too deep into it.
Starting Your Own Online Business While At School Or College
The stats show that four out of five small business start ups will fail. All across the world thousands of people risk their life savings to go into business. They quit their jobs and say good bye to a reliable source of income to risk the nest egg. For some it pays off, for most it doesn't.
Those who are very astute will learn crucial lessons from their failure and use that to try again later. With enough perseverance they will eventually succeed. Others fail once and throw in the towel. They have had a worthwhile experience but they have also lost a lot of money.
The Internet is something different from a bricks and mortar business. You do not need huge capital investment. In fact the money required up front is very small. I am talking from as little as $10 and no more then $500. Even if you fail you don't really lose much.
But more crucially you do not need a massive investment in time. Regular businesses need to start turning the wheels of profit very quickly because of the huge costs of startup. This means committing huge amounts of time. Startups are hectic and stressful and the new business person must spend almost every waking hour attending to the business.
Starting your own online business is very different. You do not need to begin with clients or employees. You can start trundling away at your own pace, just chipping away for a few hours a week while you carry on with the rest of life.
You typically have more time on your hands at high school and college than you do when you are employed full time. This is particularly true at college. With this spare time on your hands this is an ideal time in your life to spend a few hours per week starting your own online business.
I started towards the end of my time at college. My only regret is that I did not start sooner. My business did not make me financially self sufficient by the time I left college. It still needed a lot of work. It took me a few years to build it up from there because my spare time dried up when I joined the military. At college I could invest huge amounts of time but not when I was working full time.
I can only wonder what the situation would have been like if I had started two years earlier. What took me four years to achieve in the working world would have probably taken two years at college. Maybe I would have left college with a functioning business that made me financially self sufficient. Maybe I would have never needed to find a job.
The other reason for starting your own online business while you are young is to do so before you have kids. I know people who have gained financial freedom despite working 40 hours a week and raising 3 kids. But it is so tough. You don't need to put yourself through that struggle if you make it happen early in life.
Achieve Autonomy From Needing A Job
Jobs are the antithesis of masculinity. Men evolved roaming around in tribes hunting wild animals. We were not independent from our social group but neither were we totally dependent on it. We were a part of it, interdependent, both needing it and being needed by it. Being a part of something is different to being a subject in a hierarchy.
The working world suffocates the spirit of men. Organizations are run along hierarchical lines not tribal lines. The idea of interdependency is much diluted. You turn up to work, obey your slave master and then collect your measly pay check while the masters take home the profits they earned off the back of your labor.
Owning a business frees you from the need to subject yourself to employment. Imagine not needing a part time job to support yourself through high school or college. Or walking away from it all with no need to find employment.
You could pursue a career if you wanted to but only because it was conscious choice. You wouldn't have to pursue a career because you need the paycheck. Starting your own online business is your ticket out of the working world.
You Already Have The Technical And Social Media Skills
The world is changing rapidly. Older generations know it and they try and catch up. But that is the whole reason they cannot. They have to try. Young people do not try and catch up with change, we just flow along with it. Old people try so hard to adapt to change that by the time they have figured something new out it has changed again.
This plays into the hands of the young. You have the skills to adapt, make change and create in this new and ever changing world that is now relies so heavily on technology, the Internet and social media. This is the new economy and you can take advantage of it.
Older generations could have a crack at making money through online business. But it takes most of them ages to get their head around it. My father has a DBA, and is a very successful and intelligent businessman. But he struggles to get his head around what I do. And when he tries to apply it to his own business he stuffs it up.
You have the advantage of being able to move seamlessly from user of the Internet and social media to Internet businessman. Because you understand it and you can adapt and flow and change. There will be new technical skills that you most likely won't be familiar with. But you will pick them up with ease.
It Provides An Excellent Learning Platform For Future Business Endeavors
I mentioned earlier that only 1 in 5 small business people find success when they start out. If that business person has had 5 or more years of business experience their likelihood of success is greatly improved.
The point being, people who have experience in business tend to succeed in business.
Starting your own online business gives you valuable business experience that you can cash in on later if you decide to start a bigger project. Online ventures are the easiest way for young men to gain business experience part time and with little capital investment. It is much better than studying economics.
In the future you may not want to limit yourself to web only business models. You may want to become a badass like Richard Branson and own an airline. Or maybe you want to buy a football team, start a technology company or do something that our generation has not yet conceived of.
Just because it is online does not make the business experience you will gain irrelevant. The same principles apply online as they do in the bricks and mortar world. You need something of value, you need to find customers, you need to communicate your value and you need to close a sale. Same principles.
It's easy to cut your teeth online and it will help you immensely in the long run if offline business is what you want to do in the future.
The Personal Development Opportunity
Starting your own online business is a brilliant exercise in personal development. By its very nature it will stretch you and expand your horizons.
Sometimes it gets busy and stressful or boring or tedious. You will have to search deep to find the motivation to keep you moving in the right direction.
Success is easily measurable in traffic and income. You can see month by month if you are improving and you can learn to set goals and achieve challenging outcomes.
You have to put yourself out there. Even though it is the Internet and you are used to posting on Facebook something about a business website unnerves people. They are afraid to be laughed at, afraid to fail. You are forced to face those demons and overcome them. You put yourself out there and you realize that you have what it takes to succeed. You open yourself up to criticism but you learn to deal with it. You develop a thick skin.
You learn to strive to improve your performance. You learn to think strategically in order improve efficiency and make sure your daily action align with your overall strategy.
There once was a perception that technology, the Internet and computers was for dorks. Society has mostly gotten over that although pockets of it still remain.
Computers and the Internet can be used for dorky things e.g. World of Warcraft. But they can be used for badass things as well and business is one of those things.
You can make real money on the Internet if you use a solid business model, work hard and don't fall for the "get rich quick" traps. Site Build It is the best example of this. It takes a lot of work to set up but eventually you get to a point where you don't have to work so hard. Eventually Google just sends you traffic and you convert some of them into dollars. You don't have to be sitting at your computer, you don't have to be working and the money will just roll in.
You can be on holiday and the money will keep rolling in. Online business is passive income. It flows without you having to be there and exchange your time. That is badass and is how all the high rollers in the world live. Maybe not from online business but from passive income. Rich people do not exchange time for money, they have assets that generate cash effortlessly. An online business can be an asset that generates cash effortlessly, but only after you have put the hard yards in setting it up.
Imagine not needed to be employed and living off the spoils of your online business. Leaving you ample time to go to the gym, relax, spend time with friends and family and work on your personal development.
Starting your own online business is pure badass.