Is having an online business as the only source of income risky. Many people say they will love to quit their job for online business. Is it safe to do so.
It really depends on:
-What you're selling. If the items are seasonal or new, the shine might wear off fast or other competitors might spring up or you may only get good sales at certain times of year.
-Where your traffic comes from. If you're depending on traffic from search engines, chances are that an algorithm change could take you from page one to page five for your chosen keywords. Real world customers (those gotten from things like TV adverts, networking etc) are more likely to be lasting, as well as using things other than search engines, such as Facebook fan pages.
I think the saying is 'keep your day job' Online business or any business for that matter is risky however I think for anyone that is aggressive or wants to work for themselves should seriously consider going online to make money.
I've been working the internet for years and have learned a lot of techniques along the way and skills that certainly aid in making online business work. There is just so much potential still on the internet, but at the same time until you establish a steady income you can rely on it is not a great idea to just think its going to support you. That will come only after some pretty heavy work.
Yes it is risky but the rewards can be significant if you are prepared to put in the hard work required.
It is like any other business, you have to put in effort and the rewards you receive will be in line with the effort you put in.
I have taken time out of "employment" to build a house and build an online business, I have not spent the time that I wanted to and have had many setbacks but things are beginning to go the way I want them to.
Whilst I have not yet reached my target monthly figure I already earn more online than anyone I know locally earns in their day jobs - however I am living in the Philippines at the moment!!!
I don't just write on here - I write on a number of sites, like hubpages and sites of my own.. I don't just rely on Adsense or Amazon, I use other affiliates also.. and I am starting to promote my own products and other routes to making money online.. I am not putting all my eggs in one basket and developing one at the expense of the others..
There are risks in every businesses and that includes online. But this can be very rewarding. Because you’ll will not have to pay anything for your office. This means no real estate costs buying an office building and no rental of your workspace. It even means no money spent commuting to and from work! It costs virtually ALMOST nothing to start a home-based business.
Most often you will only need a PC or laptop and an very good broadband internet connection. Now advertising will costs you a lot of money but if you understand SEO and social media marketing then you have all the advantage in the whole world wide web. And yes you can use HubPages to help people learn about your business.
Yes, there is always a risk involved.. You have to really do your research. There are wonderful benefits that can be gained from having your own online business. I recently started my own online business. I suffered through O.P.O (other peoples opinions) but now I am glad I did my research and looked into the company I work with. I love my work from home business, I set my hours, I am home for my son. I can take care of everything around the house and run a successful business. When I am out, I am promoting my business.
There is at least one great online business, a+ bbb rated. I know because I work for the company. I am sure there are others. I just went through so much B..S before I found the one I have now. I almost missed the opportunity.
Ames: How can somebody find a reliable drop ship company to work with. Some are total rip offs, etc.
There are risks in everything we do in life. If you are passionate about it and have a solid business plan and offering then you have a great chance of success. Notice I said chance of succeeding!
Some say that the common mistake that small businesses commit is that they don't specify or target their market. Of course if you don't invest on something, you won't get any revenue in return. Just have the courage to start a business and plan it well. I am also planning to build my own online business.
I have to say that I do not yet make my money online, so I can only guess, but I think one of the most dangerous things these days seems to be to put all your eggs in one basket. I think if you try to establish an income producing business online, you have to diversify, because otherwise you’re always running the risk that you lose it from one day to the other.
I remember a few months ago when Google changed it’s algorihtm, for many who had specifically sculpted their business according to that, it meant a huge decline in site views and correspondingly, clicks.
I think in order to be on the safe side, you need to have multiple streams of income, multiple sites, different outlets, so that nobody can just block your account and stop you from doing your business just like that, over night.
Since the internet is still pretty young as a business platform, it has some pretty archaic rules and gets more and more restrictive, I think. I know that Google can pull your account with no appeal and no option to object for you, so if you have concentrated only on that, you just start from scratch!
So my advice (that I have in mind, too, when I think about going forward with making money online) is to try to get as many sources of income going as you can.
by jennzie4 years ago
Or at least enough to pay the bills?
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