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Top Internet Business Start-Ups
Making the jump from corporate worker to internet business entrepreneur requires a natural knack for decision making and time management. Pamela Slim, author of Escape From Cubicle Nation, “Most entrepreneurs go in thinking they just have to go in doing everything themselves, but that just isn’t true.” She says small business owners must have a strong understanding of their strengths and weaknesses. If internet design isn’t your thing, for instance, you may have to outsource this job to someone else who specializes in this field — perhaps another independent entrepreneur. Here are some other tips if you’re considering making the switch to running your own show.
There are many different types of internet business ventures to consider. Some people prefer to go with what they know. Brent Bouchez, David Page and Nancy McNally all worked for top-tier ad agencies before forming their own marketing company targeting consumers 50 and older. Michelle DeAngelis worked at Bank of America for 15 years before branching off to do her own private consulting. By contrast, some internet business entrepreneurs decided to forego their past identities and follow a particular pursuit or passion. Ali Galgano transitioned from a corporate recruiter at Goldman Sachs to a seller of unique costume jewelry. Kelly Elvin went from being a corporate lawyer to a dog trainer. What matters most is that your home based business is something about which you are knowledgeable and passionate.
“If you don’t love to roll your sleeves up, it’s not a good jump,” cautions Monica Doss, director of the Kauffman Foundation’s FastTrac entrepreneur training program. She says that running an internet business is a lot of work and it’s common for people to follow their ambitions only to find that they actually enjoy working in corporate America more. “There’s no shame” in that, Doss says, simply stating that not everyone is built to be an entrepreneur. While there can be greater financial rewards in e-commerce marketing, there are also more expenses. Suddenly you become aware that every phone call, every drive to meet a client, every lunch, every fax — are all expenses. Initially you will need to adjust your lifestyle to accommodate the new income bracket and expenses. You may not be able to take that annual vacation to Florida or dine out as frequently anymore.
Ray Gaines, entrepreneur and author of Start Your Own Business, says that it usually takes about six months to get an internet business up and running, but it’s certainly worth the time and effort. “Surprisingly, a recession can provide opportunities for business startups, particularly as the proverbial green shoots appear and the wheels of industry start to churn again,” he says. “When the recovery begins, people and companies start to spend and look for suppliers. Those new businesses that have made their names known through good marketing during the downturn will be noticed.”
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