(Note!! Everyone that posts will be entered into
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Okay, you’ve made the big decision to go the entrepreneurial route - you have finally decided that J-O-B really does stand for ‘just over broke’ - but do you launch a business online (is anyone really making money there?) or do you go the ‘real world’ route and open up a real land based business (yikes! the start up costs!)
This is a question that I get asked all of the time - and it’s a tough one for most people to answer.
For myself, it’s not so tough because after 2+ decades of self employment, I have been on both sides of the fence. I have had several brick and mortar businesses, I have had the ‘corner office’ jobs in the corporate world, and for the past decade have been working from home, running a growing network of websites as well as a consulting firm.
In my brick and mortar businesses, I had massive overhead and employees. I had to be someplace at a specific time pretty much every day - and if we weren’t open - we weren’t making money. I was successful - and miserable.
So, long before the internet came along, I was looking for a money making strategy that would let me have a more flexible lifestyle. I have to admit that I am a non-conformist - I love to travel, and am inclined to work better at 3am than 3pm….
I started down the mail-order path, which was definitely better because at least I could pretty much work whenever I wanted to and where ever I wanted to. But there was still the tedium of fulfilling orders, and I had to check into the PO Box at least once a week….which shouldn’t have been all that much of a bother but well, it was.
The internet came along and I dove in. I have been online and full time working from home with either web based businesses or consulting with web based businesses since 1994. I have had ups and downs as with any business - but overall, I would not trade it for anything. In 1999, I moved from California to Cincinnati, Ohio - missed one working day! Now, between my Blackberry and my MacBook - and WiFi! - I can work from almost anywhere!
And I do a lot of different things - I strongly believe in the ‘multiple streams of revenue’ approach. My consulting firm brings in revenue, my sites sell tangible products, affiliate products, my own ebooks, and then there is revenue from the various ad programs on all of the sites as well.
I am no techie - I know enough html to get by, but with blogs, you don’t even need to know that, although it is helpful, I will admit. But I taught myself by searching Google whenever I had a problem.
The point is - from my perspective, the web is such a great place to start a business that I can’t imagine having a brick and mortar business anymore.
BUT - I have friends who cannot imagine working from home, and being online so much.
SO - here’s the questions: What was the driving factor in your decision: online business vs brick and mortar? And, do you ever regret the decision - or plan to make the change to the other model anytime?
Stumble it!
25 responses so far ↓
1 Lisa // Jun 28, 2008 at 12:23 pm
I am opening a store online using the same product resources that I use for my store - at least if the online business slows down I won’t have this massive overheard. But the bottom line is I won’t have to sell as much to make the same profit either!
2 Melody, aka The Netlady // Jun 28, 2008 at 12:26 pm
The internet has made it so much easier for anyone to become an entrepreneur - and there are tools today to make the process possible for virtually anyone.
Personally, I love the web, and find the opportunities it offers amazing!
Melody
3 Jackie Johnson // Jun 28, 2008 at 2:26 pm
4 admin // Jun 28, 2008 at 3:22 pm
I also learned what I consider the most important business lesson of my life with MLM - the importance of RESIDUAL INCOME!! There are lots of ways outside of network marketing to earn residual income - but 99% of all that I do today is based on the potential of residual income.
Jackie - you should head over to Womensnet.netand submit your profile for the Women in MLM Showcase!
Melody
5 Elizabeth // Jun 28, 2008 at 5:34 pm
After two grueling years, I left a job in hurricane recovery. The pay was great but that came at a huge emotional expense to me and my family. I decided last October to turn my 6 year hobby into a full-time business.
I handcraft luxury toiletries-soap, lotions, body mists, lip balm, and feature a sugar scrub made with sugar grown on our plantation.
I have an online presence with my store, and, while not technically brick and mortar, I have a wonderful indoor spot at a weekly market located in our vibrant downtown historic district. I usually only sell on Saturday but if I choose, I can sell during the week as well. My only cost is the fee for the day.
The market affords me the opportunity to drive traffic to my website. I have a lot of customers who will order online, then pick up their orders at the market. They also use the website to purchase and ship gifts to their friends and family who do not live in the area.
In the near future, I’ll be moving my operation from my home to a studio/retail store owned by a well-known stained glass artist. Even though I’ll have a retail spot, I still plan on selling at the market as it’s been very good to me so far.
6 Elizabeth // Jun 28, 2008 at 5:53 pm
7 admin // Jun 28, 2008 at 8:45 pm
Kudos for a great biz model!
Melody
8 Linda @ A4SB // Jun 28, 2008 at 10:04 pm
I have over 20 years experience climbing the corporate ladder in the Financial Accounting realm and I, like many, have joined the new wave of those working from home.
Today’s Accounting software and technology makes it easy for me to work with a client remotely via the net or on the phone. When I do spend time traveling its to meet with a client for the initial consultation or conducting staff training sessions, networking at various functions like the Chamber of Commerce or even conducting speaking engagements about the ways to avoid the high rate of failure small businesses endure.
I Vote for Working from Home and conducting the greatest majority of my work over the internet. I too love to work at odd hours, like 3-6 a.m. and its easy to take a quick power nap if the workload is heavy. I look forward to hiring professional accounting associates in cities around the US and we will all be connected via the internet.
The days of brick and mortar are over for me. Thank you for the opportunity to cast my vote.
9 Kris // Jun 29, 2008 at 8:00 am
10 sidnee // Jun 30, 2008 at 12:07 pm
Recently i’ve stumbled upon a revolutionary ‘Business-in-a-Box’ system in a Free eBook, it has helped me to make some money since and i think you might be interested. It’s very new, you may want to write a review to share with readers if you find it useful
(Instant download the Free eBook through my link, no opt-in required!)
Warmly,
sidnee
11 Mattie // Jul 2, 2008 at 7:39 pm
I too have worked in several successful businesses, both self created and MLM, and believe some niches require the brick & mortar approach. There will always be that audience who loves the interaction and personal service that can only be gained with brick & mortar.
Overall, regardless of the high gas prices (which are hurting many, many lives), people like the convenience of the Pick - Pay - Post Office Delivery capability of the internet.
Personally, I prefer the internet. The ability to reach a much wider audience is so appealing.
And the overhead is ALOT cheaper!
12 oc hometheater // Jul 5, 2008 at 8:07 am
13 Melynn // Jul 5, 2008 at 10:58 am
14 Hypnotist // Jul 18, 2008 at 9:19 am
Now, I have a hypnotherapy practice. I service my clients out of a office filled with a plethora of (traditional) medical practitioners. The only time I spend at the office is for appointments — my calls are forwarded to my home or cell phone.
15 Des // Jul 22, 2008 at 7:24 pm
16 Carol Thompson // Jul 23, 2008 at 11:55 am
17 Sonograher // Jul 26, 2008 at 1:04 am
items. I’ve looked into someone to build my website. This week I was given the opportunity to buy an established business of entertainment ultrasound. You know, you show Mom & Dad the baby, take pictures, CDs, DVDs…the works in a soothing, pampering atmosphere. No actual diagnostic scans are done at all. This is what I have done & loved for years. I’m good at it!! Now the question: Stay at home with internet business vs established brick & mortar with greater financial risks, but also greater
financial potential. Help!!!! Some of you savy girls must surely have been in a similar situation
at one timeor the other. Advice? Gems of info?
18 Kass // Jul 29, 2008 at 12:49 pm
PS - Any tips?
19 ladybugs // Jul 29, 2008 at 7:26 pm
20 lilaclady // Jul 29, 2008 at 10:58 pm
Something you should know first: there are two different things available for you: work from home and home based business. They are two absolutely different things. Work from home is something like a typist or virtual assistant or medical billing specialist - when you are actually employed by somebody and you are paid a fixed salary or hourly wages for your services.
Another thing is a home based business. In this case you are becoming a business owner and your income potential increases, but you actually have to be involved in a decision-making process.
I can’t advise you on work from home, but if you are asking about a home based business I might be able to give you some food for thought.
In today’s world Internet has become a great vehicle to market goods and services and has allowed a lot of businesses to reach larger customer groups.
The Internet has also created a concept of a “Internet marketer”: a person who markets products and services via the Internet.
So, in many cases, “home based business” means a business that delivers products and services using the power of the Internet.
Like any other business, it must have a product and in order to generate any income you are going to have to market it.
This is where you have to choose what is it that you are most comfortable with, because options are endless.
The beauty of this kind of business is that your initial investment is incomparably small related to what we call “Brick-and-Mortar” business: you do not have to rent an office, hire employees, buy any tools or machinery, rent a warehouse, maintain inventory ets. Plus you get to reach millions and millions of people via the Internet, which makes it much easier to actually achieve measurable resoults in a timely manner.
The concept of an Internet based business is still new to a lot of people and you are going to here a lot of opinions like “It’s a scam” or “It’s to good to be true”, especially from your uncle Bob, who spent 20 years fixing furnaces and your aunt Polly, who spent her life working at the gas-station. It’s like with any other business opportunity: there is always a gun-slinger with his “It ain’t gonna work”. There are also a lot of people who is going to try to drag you into something scammy. They will be screaming “Sure, go ahead and join me, pay me this much money and then I will personally wright you a check for a million dollars!”
And like with any other business you need a lot of information to make an educated decision about each particular business opportunity. What if you were interested in opening a laundromat, would you base your decision about getting involved on uncle Bob’s “It’s a get rich quick scheme” or on the sellers promise of a million dollars in a month? No. You would try to acquire all the information you can get and only based on facts you would make a conclusion about a particular business opportunity.
As far as internet based business opportunities, look at following things:
what is the product that you are going to market
will a potential customer see the value of the product without a two hour presentation
is there a clear marketing strategy
is there a support or any kind of mentorship available
what is the profit margin per unit of product (is it 20 cents per bottle of vitamins or $35000 per space shuttle).
If you are able to locate those answers it should be relatively easy for you to make a disigion.
Internet marketing is a great business after all and you would be surprised to know how many people are involved and what kind of money are being made here, but before you get involved, again, do your research.
I can’t tell you that I’d investigated all the possible opportunities out there, but I stopped at one and haven’t regretted it so far.
We have a lot of info about every aspect of what we do on our web site and it might be educational and helpful for you to check it out.
http://www.oceaniswaiting.com
21 SJohn // Jul 31, 2008 at 11:56 am
22 Broaraeagetry // Aug 3, 2008 at 7:51 am
23 Fergie // Aug 5, 2008 at 5:57 pm
I think it’s a crap shoot. You decide what is best for you based on your capabilities and your desires as well as your financial situation and what you hope to earn. Internet isn’t for everyone just as a store isn’t for everyone. But to be successful you have to choose the one that you feel most comfortable in making a success!
24 Allison // Aug 11, 2008 at 6:41 pm
I do have some acerage and an arena at home, and am in the process of re-modeling my barn and pastures to house more horses, so I can do more of my work from home as well. My overhead is much higher, but it goes into my home equity, so it’s not such a risk.
25 Work At Home Mom Tara // Aug 13, 2008 at 8:52 am
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