Is Starting An Online Business Futile?

Truegho

Do any of you think that starting your own online business is futile, given the current state of the economy? I mean, is it really worth even considering?

I have heard all sorts of wonderful stories about some people who are making thousands online with their own businesses (e.g. internet gurus using affiliate links etc.). But having come across a lot of online scams - which seem to promise the earth but in fact turn out to be just pie-in-the sky - I just wonder to myself is it only a tiny minority of entrepreneurs who are really earning good money.

What do you all think?

toasterman

Truegho wrote: »

Do any of you think that starting your own online business is futile, given the current state of the economy? I mean, is it really worth even considering?

I have heard all sorts of wonderful stories about some people who are making thousands online with their own businesses (e.g. internet gurus using affiliate links etc.). But having come across a lot of online scams - which seem to promise the earth but in fact turn out to be just pie-in-the sky - I just wonder to myself is it only a tiny minority of entrepreneurs who are really earning good money.

What do you all think?

I think you're right - there are a lot of scams out there.
However, if you can sell something differently, cheaper, or a better product than someone else - I don't see why you should give up with it altogether.
It's tough to get established on the Internet, but it'll cost you less to do so - you don't need premises, employees, etc.

More people than ever before are shopping online, because it's often cheaper, can do instant price comparisons, get reviews of the product, and you don't get hassled by salesmen to buy extended warranties and £50 scart cables and stuff.
Depending on what you were planning on doing online, I wouldn't write it off entirely - the recession won't last forever (I hope).

bap98189

Online business is a growth area. I work for a business which started trading online about 2 years ago, and it is making money. That said, it is not easy, the margins are much lower, the risk of fraud much higher but starting any business is not easy.

If you think only a handful of people are making money trading online, I would disagree with that. Far more people are trading successfully on the internet because the costs of starting up are so much lower and much of the process can be automated.

For sure there are people whose businesses will fail, and there are scam-artists out there, but the same goes in any sector.