Ever wondered how many people around the world use the Internet every day?
According to the United Nations agency that surveys international communications, 3.2 billion people were using the Internet in 2015.
It follows that this will get even bigger, with the Internet extending to the farthest reaches of the planet. Even Australia might one day have NBN, however far-fetched it seems.
What does this rapid development mean to the business world? It means thousands of opportunities coming in for entrepreneurs to compete and go big in the online marketplace.
We are now living in the information age, and everything has changed because of it. Especially when it comes to the way businesses is done.
Using the power and reach of the Internet, small-time entrepreneurs are now able to maximise their reach and their opportunities.
It’s no wonder startups are a popular business model: people have the chance to finally start the business that they love. To finally do what they are passionate about, and make a living out of it.
But despite the freedom and opportunity provided by the modern world, and specifically by the Internet, there are still many things to consider before taking the step into the business world.
IS IT PRACTICAL?
In deciding what kind of business to choose, always consider its practicality first: Will this kind of business work for me? Will I make enough profit and get enough support to sustain this in the long run? Will I be able to make a living and build a future out of this?
Such questions at the start may be frightening, but such questions will give you insights, keep your vision in check, and root you in reality.
This is where entrepreneurs sabotage themselves early in the game. Practicality is a serious matter; without it, the business can’t go on since there will be no reason for it to survive.
Even if you are truly passionate about a certain line of business, it will not survive if it does not somehow give you something back.
If it is just the creative idea that you have, and it is not at all practical, then it is a not a wise risk, especially if it is just your first time running an online business. (Note that you can always save the risks for later when you have the experience!)
You have to set the conditions clear on this matter before even beginning; otherwise, you may end up risking your efforts for nothing in the end.