Not many years ago, starting a business took a lot of time, money, and other resources in order to get it off the ground. Becoming an entrepreneur had a barrier to entry that many low or middle class people couldn’t get through because of their limited financial resources.
Today, the rules have changed thanks to cloud computing, the internet, and other technology advancements. These innovations have made opening the virtual doors to an online business easy and inexpensive.
Some Things Haven’t Changed
It’s true that opening a business is easier now but some of the old rules haven’t changed. First, if you’re going to operate as a business, you should form an LLC or other business designation. This not only helps to protect you from potential lawsuits but it gives your business a more professional appearance to your customers. Forming an LLC is a simple task in most states. There are a variety of business registration services that can help you complete this task often for less than $100.
Since it’s easier to start a business, many people are now doing it. This makes opening a business easy but growing an online business more difficult than before. Experts say that it’s important to find a niche that you are passionate about that isn’t so crowded that everybody has a presence. What are some of your talents that the mainstream doesn’t have? You either have to make yourself stand out in a crowded field or enter a less crowded space where your hard work is more easily found.
Fox News recently provided a few spaces that may be underserviced. First, domain name brokers buy domains on the internet and sell them for profit. Domains are like cyber real estate and although all of today’s popular names have been purchased, tomorrow’s catchy business names and words may still be available. If you have a talent for thinking of catchy new names, (think Linkedin or facebook) this may be a good business for you.
Next, if you have proven success selling on Ebay, you may know the secrets to getting a great price that others don’t. As an Ebay consultant, you could sell your services to others.
Finally, researchers and writers are always in demand because the internet is fed each day by providing new content. Businesses all over the world know that bringing people to their website is best done through new and exciting content so outstanding researchers and writers will be in demand as long as this basic model remains intact.
Now that money is no longer an issue to start some businesses, sideline entrepreneurs now have the opportunity to step in to the game and start working as the boss instead of working for the boss. If you’re passionate about something, start your research and open a business.