The world of an online business is vastly different than the rest of the business world. Internet-based companies are often smaller and require less concern about managing real estate and facilities due to their basis in cyber space. Employees and customers may be spread out all around the world, posing unique challenges for managing and delivering first-rate service.
So what does it take to be a success as an online business owner?
Here are some of the characteristics and practices that tend to set those who rise to the top in the difficult world of Internet-based business apart from the rest.
There are many reasons why people decide to start an online business, but for many owners, there is a clear goal of one day selling that Internet-based business for a profit. If you got your online business off the ground with plans to grow it and one day sell the company to recoup what you invested and make a nice return, it’s important to keep that eventual sale in mind as you make decisions from day to day. All too often, online business owners end up over estimating how much their companies are worth. It’s easy to understand why, […]
When you start your online business, your goal is to grow it and make it profitable. As your online business moves out of the startup phase and becomes an established business, your goal is to continue to grow, increase your market share and keep your existing customers coming back to you. But then what comes next?
Some online business owners start a company with the plan of owning it forever and passing it on to the next generation, but increasingly, people are founding online startups in hopes of one day selling their companies for a large profit and then taking […]
A few years ago, flipping real estate was a huge investment opportunity. If you’re not familiar with the concept of flipping, the idea is to purchase a building, usually a home that is cheap because it has been foreclosed on or needed to be sold quickly. After the home is purchased for a low price, the owner invests money in it to improve it and increase its value, then he or she sells it at a higher price and keeps the difference as profits.
Flipping has now moved beyond the world of real estate to the world of online startups. […]
The world of online business continues to grow, making plenty of opportunity for those with the right drive to achieve success and build a successful business. Unfortunately, it takes more than just passion and vision to start an online business; it also takes capital.
Although many online businesses are very profitable, obtaining financing to start one can be a challenge as financial institutions and investors often view them as risky endeavors due to the fact that they usually do not involve the type of tangible assets that can be used as collateral. That doesn’t mean that it’s not possible to […]
Many entrepreneurs dream of the day they sell online business ventures at six or seven-figure valuations and walk away having reaped the financial benefits of all the time and energy that they’ve put into their online businesses. They focus on the payoff from the sale and don’t think too much about the sales process itself. As a result, they end up quickly overwhelmed with all that needs to be completed when it comes time to sell online business companies.
This doesn’t mean that you shouldn’t plan to one day sell your online business or to sell it in the immediate […]