According to Internet Stastics , 1,463,632,361 of the world' s population were using the internet in june 2008. It is a figure that is set to grow with the continued proliferation of broadband and emerging technology. That's all good news for internet entrepreneurs looking to launch a business online.
In comparison with the traditional offline way of conducting business, the internet offers plenty of advantages.
1) you can launch websites on low budget.
2) A website offers a virtual 'shop window' accessible to the world.
3) A website is potentially open for business 24/7, everyday of the year
4) Possible reduced costs if you can run your web-based business
5) Efficient ways of targeting your market through web demographics
6) Multiple cost- effective ways of advertising your revenue
7) Quick and effective online transactions.
8) Ability to stay in touch with your customers and offer loyalty incentives.
9) Greater potential for growth
Of course, with every advantage you can expect a disadvantage. It's true that the internet undoubtedly has worldwide potential for any budding enterpreneur and you can understand why many are dazzled by the prospects , but there' s more to it than launching a website and sitting back waiting for the world to come knocking at your door. Many processes need to come into play, from website branding to marketing and ensuring that you gain enough traffic on a daily basis to convert your web visitors into paying customers. We look at the finer details in but its worth considering some of the challenges that you may may face in your quest to establish your business on the web.
1 ) Tougher competition - your contemporaries in another country may be able to offer the same service for less money.
2) your website can be like 'needle in a haystick' - unless you market and advertise consistenly, you may well as be lost in cyberspace.
3) Although technology has improved vastly in recent times there are still occasional gremlins. These can be problems on your own computer or issues with the hosting company or with the ISP. The state of 'down-time' is something u need to plan for.
4) Internet-security - or lack of it in some cases - continues to be threat for many internet users. Although there have been vast improvements in some sectors, threats still exist, and you need to ensure that you protect your assets and your customers from security breaches.
5) Customers can be fickle. If a competing website comes along offering better prices, incentives or service, you can lose custom.
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