What is an internet entrepreneur?
An entrepreneur is someone who is willing to dedicate a few years of their lives like most people won’t, in order to spend the rest of their lives like most people can’t. That’s how I see it.
However, if you do a quick and dirty search of “what is an entrepreneur” on Google, you’ll get the typical definition of an entrepreneur.
Entrepreneur is a person who organizes and operates a business, taking on greater than normal financial risks in order to do so.
Well, that’s partly true, but not entirely. An entrepreneur is indeed a person who organizes and operates a personal business, and most likely he/she is the main decision maker as well.
However, an entrepreneur doesn’t necessarily take on a greater than normal financial risks in order to do so, especially in the age of internet. Online opportunities are aplenty.
More often than not, depending on a a single day job for income is more risky than becoming an online entrepreneur.
What is an Internet Entrepreneur?
An internet entrepreneur is essentially someone who operates their businesses online.
Compared to traditional business owners that require huge capitals, shop houses, ready-made products, and staff management, online entrepreneurs seem to have an inherent advantage when it comes to business management and start-up costs.
In fact, most online entrepreneurs start with zero start-up costs, or minimal investments.
Advantages of Online Entrepreneurship
First, let’s look at the advantage of building a business online. The internet is operating 24/7, which means an online entrepreneur is open for business 24 hours a day, 365 days a year.
By building an online business, you are essentially reaching customers from the whole world, no matter their geographical locations and their time-zones. With the number of internet users reaching 3 billions and ever-growing, internet entrepreneurs are just going to do better year after year.
Most aspects of an online business are on a set-and-forget model. Want to sell something online? List your items in your online store and you’re good to go.
Want to automate the payment process? No problem. Services like PayPal lets you bill your customers automatically and send them computer-generated invoices before you even realize a sale has been made.
Many online businesses operate solely on digital products and contents creation, which means the business owner doesn’t have to manage products and inventories at all.
Ebooks have created many millionaires, and blogging has generated steady income for many aspiring bloggers.
Once an ebook has been written, it continues to generate an income for years to come. Once a blog post has been written, it stays there and inspire new readers every single day.
With most income-generating activities set on auto-pilot, an online entrepreneur can choose to work on new projects, or spend more time on family, social and leisure activities.
One of the most rewarding aspect of online entrepreneurship is time, location and financial freedom. An online business can be worked on anytime of the day, in any part of the world (as long as you have an internet connection, of course), and the monetary rewards sets you free from the shackles of having a job.
This creates a less stressful environment, and to a certain extent have more control on your own rewards. Want more income? Simply ramp up your time and effort and you’ll see more money coming in soon.
Beware of Pitfalls in Online Entrepreneurship
As good as operating an online business sounds, there are numerous traps and pitfalls that are lurking on the internet.
NEVER get involved in the “get-rich-quick schemes” that promise you quick returns with relatively no efforts at all. These schemes are most likely scams, and you are usually required to pay upfront to get access to the secret materials.
If you see an online business opportunity that tells you nothing but earning millions in a short period of time, avoid it at all cost.
As tempting as it may sound, as soon as you pay up the membership fees, you will no longer hear from them again. You won’t even get back your money despite a “30-days money back guarantee”.
It’s important to remember that there are rarely any true “get-rich-quick scheme” online. An online business is no different than an offline business, in terms of time and effort required to make it work.
Build an online business as you would a traditional business. In order to be successful, you have to be committed and work on it consistently, with minimal rewards in the early days.
You will be successful, only if you are dedicated and not expecting big rewards right off the bat. Are you up for the challenge?
How to Become an Internet Entrepreneur
While it is important to have your mind fully focused on creating a successful online business, it is essential to spend time and learn especially early in your entrepreneur career.
Most people try out a few programs in their spare time, just like I did, and I’ve finally settled on Wealthy Affiliate University.
To save you the hassles of trying out multiple programs and potentially buying into a scam, Wealth Affiliate University is a free online entrepreneur education platform that provides free courses and tools to set up your online business properly.
If you want to read a more thorough introduction of Wealthy Affiliate University, take a look at How to Make a Free Website That Earns Money.
Start your online business at your spare time, but work on it consistently. You don’t have to quit your day job just yet (and you are not recommended to), you just have to spend 1 to 2 hours after work each day to learn and build your business from home.
There may be a lot to learn in the beginning, but trust me, it is worth it. When your online business income finally surpasses your day job income, you can choose to sack your boss and dedicate even more time to grow your business.
Until then, play it safe and focus on being a part time entrepreneur. Think positive and stay dedicated, and you’ll be able to achieve financial freedom in just few years later.