Good & Bad Things About Starting an Online Business
If you are looking to start your own company, have recently lost your job and need a source of income, or you are considering ways to supplement your current income, then an online business may be your solution. Before you invest time and money in your own online business, it is important to understand the good and bad things about an Internet business. When you have the information you need, you can make a more informed decision about your entrepreneurial future.
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Inexpensive
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It is possible to get an online business up and operating for $100 or less, according to Christopher Null, writing for the PC World website. A website host can be paid for on a monthly basis, and you can work with online wholesalers to create your inventory. The time-consuming work happens when you promote your website. But if you stay dedicated to creating content that helps your position on the search engines, using free social media websites to promote your business and circulate through the various public message boards to reach large groups of people, then you can start your own website business for a relatively small amount of money.
Flexible
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An Internet business offers you flexibility in two different ways. The first is the ability to work on your business from any Internet-connected computer. You do not have the constraints of a permanent address to stop you from doing business wherever you want. The second flexible aspect is your time. If you prefer to work at night, then you can do so with your online business. It is not necessary for you to keep hours that coincide with your clients' unless you have a scheduled meeting.
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Laws
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Creating an online business is more complicated than just starting up a website and collecting credit card payments. There are laws regarding the collection of personal information that you must adhere to. For example, the Children's Online Privacy Protection Rule imposes certain restrictions. It states that your website must gain verifiable consent from the parents of any person under the age of 13 that gives you personal information online, according to the Bureau of Consumer Protection website. There is a variety of data collection and product shipping laws that you must be aware of for every country you will be operating in. Since the Internet reaches people all over the world, the legal side of an online business can get frustrating.
Internet Criminals
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Any time that you access the Internet, you are exposing yourself to Internet criminals. Your online business can use the most up-to-date firewall and antivirus software, but online criminals can still sometimes find a way to get into your server and ruin your business. Internet criminals can steal customer credit card information, infiltrate your company's inventory and financial information, release viruses on your computers and put your online company out of business.
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References
- PC World: How to Start an Online Business for $100; Christopher Null; November 4, 2008
- Popular Mechanics: How to Start an Online Business; John Herrman; March 1, 2011
- Entrepreneur: Starting an Online Business in a Down Economy; Melissa Campanelli; September 22, 2008
- Bureau of Consumer Protection: Children's Online Privacy Protection Rule: Not Just for Kids' Sites; February 2004
Resources
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