The Perfect Business and Online Retail in General
Let me refer you guys to a potentially life changing document called The Perfect Business– by Richard Russell.You’ll find that internet businesses meet many (maybe even all) of the characteristics of a perfect business.
The reason why I feel that e-commerce is the best is because of low high start up costs with a huge margin for potential.
- “2004 online retail sales rose 23.8 percent to $89 billion, representing 4.6 percent of total retail sales. Including travel, online sales also rose 23.8 percent to $141.4 billion. Online retail sales will reach $109.6 billion [in 2005]. Online sales including travel will rise to $172.4 billion this year.” — Forrester
This means that the internet is a great place to do business, and it’s constantly growing. It can be just as profitable as running a brick and mortar (real life) store, but is easier to manage because of a variety of programs that you can use.
The fruits of labor show almost immediately, compared to traditional brick and mortar companies. You can monitor traffic at pin point accuracy and know how you’re doing, where people are coming from and where they are exiting from. This allows you to plug holes that you might have, that you wouldn’t otherwise be able to see in real life.
There are dozens of monetization methods on the web like Google Adsense, Yahoo Publisher Network, Azoogle, just to name a few.