We’ve all heard the phrase being used. Instead of respectfully noting the fact that a dynamic start-up web company has bit the dust, we refer to it as a “dot bomb.” In other words, it hit the ground running, but then crashed shortly after leaving thousands unemployed and millions of dollars wasted. Starting an online business sounds like a relatively easy endeavor, which explains why so many people view it as being as simple as opening up a neighborhood lemonade stand on a summer day. The world is shrinking. The web is one big neighborhood, and we are after all the global marketplace.
How difficult can it be?
This is exactly what the master minds behind various online pet stores, toy stores, and business ventures were thinking before their fortunes were splattered fatally across the information super highway.
Of course, there are some businesses that have been wildly successful, and there is a strong probability that the secret behind this success lies in the fact that they were careful to remember these points as they developed their online business. It was only then they deactivated the ever dangerous dot bomb.
Is this interesting?
There is quite the difference between what you think is a great idea and what others may agree is a great one. Granted, there are exceptions like the Pet Rock © and the airplane. These were the sort of brain-childs that were almost laughed into nonexistence. Unfortunately, these are few and far between and it is more often than not a good practice to have of bouncing a new idea off of a handful of people you respect. Study their reactions. Test their genuineness and honesty. Be able to accept criticism and realize that innovators became, well, innovative from several ideas, not just one.
Is this commonplace?
The downfall of many online businesses is the fact that the world has been there and done that. Why buy dog food online when you can drive down the street, pick it up, and not pay shipping charges? Why buy toys online when your favorite toy store is on the brink of going out of business? By traditionally purchasing it, you can obtain it more quickly while helping out your local economy at the same time. Many people realize this. That is why it is difficult to maintain the success of online services that already successfully exist in the 3 dimensional world. Make sure that your idea is unique. Rise above the commonplace bustle and stand strong on uniqueness and individuality.
Do I have the patience?
Online businesses do not happen overnight. And the ones that seem as if they do, more than likely fail in a few years. Patience brings longevity, so make sure that you do your homework. Be educated not only as a computer whiz, but also as a business manager and planner. Know all the facets of what you are getting into. Do you have the time? Are you willing to take the risks? Only then can you begin to be successful and have the luxury of eventually being able to sit back and enjoy watching the world click away.
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Courses that you can take with you---the varied curriculums at HoHoKus Rets School of Business have been evaluated by the American Council on Education, allowing graduates to earn up to 55 college credits at more than 1500 colleges and universities across the nation.
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Tags: business, management
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