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How and why invest in an internet business
Advantage of internet business
Investing time and/or money
When starting any business there is always a time cost for money. For brick and mortar businesses the money investment is high at the start, then turns to a time investment. The success rate for this type of business is higher than for internet businesses. Our belief is the high dollar investment motivates the owners. In cases on the internet we have found the trade off more worth while when a combination of both time and money are involved. The money investment is a better motivator than time alone.
Business consulting, what we have learned
Our long term goal when starting our business was to be consultants for others starting businesses. This was our area of expertise before starting the internet business. This started for us six months into our online business presence. So far we have found that internet only businesses as such do not exist. In some way there is always a time cost offline either on a telephone, face to face, or with local appointments. Money cost offline exists also if it is only the tax collector.
Personal choices which must be made
In some cases the time cost doesn't seem worth the effort at first. As time progresses a large time investment or a small time and dollar investment can pay off well. It takes time to choose which way time and money are best spent. If a person takes the time only approach remember if you don’t reinvest a percentage of the money earned it will take even more time cost.
Something else which can be taken into consideration are the tax benefits. The first two years businesses often "make no profit" however the tax benefits of owning a business make it worth while to be in business. We find it best to consult a business consultant who provides tax advise through a lawyer they provide, or your own tax adviser. When consulting we always advise getting the advice of a lawyer. You own is always the best bet however there is often a money cost involved. More often than not the cost (both time and money) of professional help is well worth it.
Do you have a passion to share
Do you believe internet business is about passion?
There are times when the time cost factor doesn't look like for a new business it will pay off in the short term, however over time bring in more in residual income than could be made using the time otherwise. This is the premise of most internet businesses. We never advise quitting a day job until a business is earning more after reinvestment than a person is earning now.
Residual income is the benefit of internet business
We have one program where we invest time daily. Ten minutes maximum overall with some days being longer while other days are shorter, and a two one time payments of ten dollars earned from other internet sources. It is currently paying based on our ten minute daily investment. This will continue to grow over time without an increase in the daily time investment. In time, our time investment will be cut to about three minutes a day. The only “problem” with this business is it requires at least a three minute time investment seven days a week.
Advantages of internet business
Internet businesses have advantages over brick and mortar businesses in the fact they are less expensive to start and operate. They can also be run from anywhere as long as there is an internet connection or you can get signal on an internet capable phone. Careful planning (time cost) along with professional help (money cost) will always be the best way to go. If you don't have this option it can be done with a total time cost as long as you reinvest what is earned getting the professional help needed to move a business to the next level.
We ran our internet business here
More information on internet business
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