Make Money Online – Discover 4 Benefits Of Owning An Online Business
Prior to the internet, it took decades to earn a billion dollars. For an example it took Henry Ford a decade and a half to earn his first billion. Sam Walton needed two decades to earn his first billion. Bill Gates was able to get it done in twelve years. The internet was released to the public in 1992 after George Bush signed legislation allowing the public to do commerce on the internet. In 1994 the internet was growing at 2,300% at which point Jeff Bezos started Amazon.com in 1994. By 1999, Mr. Jeff Bezos earned over nine billion dollars, which is pretty amazing. At the time of writing this article Amazon.com has a market capitalisation of twenty-five billion dollars.
1) Residual Income
The following example is based on the time-for-dollars formula, which is the polar opposite of residual income. If you were to work for 100 hours in exchange for $1000, you would have to work 10000 hours in order to earn 100K.
Residual income is what Warren Buffet’s Berkshire stock would have paid you, had you invested back in 1965.If you had purchased $1000 in shares back in 1965, your shares would have been worth more than 2M today. Albert Einstein once said that the “most powerful force in this universe is compound interest.” Online businesses that are set up correctly tend to generate residual passive recurring revenue they can prosper to your dominant revenue source over time.
2) Global Market
Most fortune 500 and 100 company’s are very much aware that the world is their market. The same thing applies to online entrepreneurs. Pepsi does 60% of their business internationally. Wendy’s, McDonald’s & Pizza Hut are currently expanding faster internationally than they are in all of North America.
3) Can Be Willed Or Sold
An online empire can easily be willed or sold.
4) Low Investment & Low Maintenance
The number one reason, that most start-up businesses fail within the first few years, is that they are under capitalized. As an online business owner you do not need employees, huge warehouses, inventory tracking systems and your monthly expenses will be low.
David Ogilug, a famous advertising guru once said, ” only 50% of every dollar spent on advertising works. The only problem is that we don’t know which 50%.” This is not the case with my online businesses. With traditional forms of advertising, it is true. With the evolution of the internet you can now reverse engineer your competition with a soft ware application called meaningful information spy.
When you are spending thousands of dollars per month, you would want to be 99.99% sure that you are paying for the right keywords, meaningful phrases and that you have the right ad copy wouldn’t you? Well with keyword spy, it is more of a probability than a possibility and I would highly recommend that you use it before your competitors do.