Yesterday I had lunch with a group leader from my church and we discussed about how the “financial crisis” had affected most businesses around the world. He worked in a leading Telecommunications company and told me there were a few people being made redundant and their overall company sales had dropped. I gave my point of view and partially disagreed as some businesses were not affected as such. Some businesses that I believe are not affected are general medical professions, such as doctors, dentists, optometrists, etc, supermarket chains, such as Woolworths, Coles and IGA. I believe these businesses were least affected because they sell and offer services that people all need to stay alive and keep well. And here’s the but, Internet businesses continue to thrive as well. I believe there are a few reasons why they continue to grow and buck the trend:
Low Overheads Keeps the Bottom Line Healthy
The beauty of running an Internet business is not having overhead costs which may include an office, staff, and other expenses when running a brick and mortar business. You can run your Internet business from almost anywhere in the world as long as you have a reliable Internet connection. For the last 3 years I’ve been running my Internet business from home and the costs I normal incur are mostly from my electricity and internet bills. I do hire contractors from time to time to help with administration tasks but they are done virtually and not at my home. When you compare the cost of having a lease for an office to working from a room in your own home, you can save yourself at least a couple of hundred dollars in rent per week. This can amount to $10,000 a year which could be ploughed back into building your Internet business or even paying for a business trip overseas. Bottom line is, an Internet businesses will keep you healthy and less stressed when you see more money coming in than going out.
Money Is Created and Not Tied Up in Inventory
A majority of Internet businesses are information product based. They sell advertising, eBooks, membership sites and much more. Now the secret behind all this is, it doesn’t even cost them a cent to hold any stock. Could you can imagine an Internet business that generates positive cash flow from the interaction of an online community? It happens every minute as we speak. An example is when an Internet marketer has an idea to share. He or she will publish an eBook and sell it online to a hungry list of buyers, which generates instant cash profits. This is a very simple idea and there are many other ways to create money using information products. Even for a worse case scenario the book doesn’t sell, what have they lost? Nothing except for a bit of time they used to write the book and it doesn’t affect their business.
Can Receive Money In Different Currencies From Around The World
An Internet business starts to become a foreign exchange bank when they receive money from buyers across the globe. By having the ability to receive foreign currency using services such as Paypal, you open your Internet business to broader markets allowing you to trade in different countries all from your website. For example, if you live in Australia and charge your services and products in US dollars, you can be making quite a nice profit in these current economic conditions and also have your expenses paid in Australian dollars.
Overall, I see Internet businesses to be one of the best ways to yield a higher return rather than leaving your money in the bank or having it sit in the current share market. Have you considered investing your time into running an Internet business? If not I recommend looking into Internet business opportunities that will help you achieve great financial freedom.