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IT IS Your Money You Stand To Lose In Online Business

The Any Internet Site Can Make Money Myth

I hate to harp, but TANSTAAFL strikes again … if you have a website that has a lot of traffic due to unique content or placement that's awesome, and as such it does indeed have a more then reasonable chance of earning you money - but just because you have a web site doesn't mean business will magically come your way.  Even the best created and designed site on the web if it is not promoted and linked properly is destined to fail - so don't blow all your budget on a spiffy site when you haven't decided what you are going to focus on selling yet!

An expert should be able to become profitable within six months

While not unheard of just having knowledge and skills doesn't mean you will be able to turn a profit, and most small businesses due to startup costs and need to invest back into the business for future growth don't see anything out of their company for at least two to three years … again if it sounds too good to be true!


The right business sells itself and doesn't need a marketing or business plan to succeed

This is very common now in the post 'dot-com' era, but remember folks there is a reason it's the "post" dot-com era and not the dot-com boom.  There is simply no substitute for a valid business plan and understanding what is necessary to sell your product or service to the public.  Anyone trying to tell you something otherwise is likely selling something he wants you to buy from him right now before you go broke and give up the idea of starting your own business!  A related myth is that if you aren't getting a loan or looking for investors you don't really need a business plan.  While business plans are necessary to get investors the purpose is not that but to ensure you understand what it will take to be successful, and that you have a linear outline for how to achieve those goals.

Summary

  In many cases as with the "SBA has money to loan" myth there is a kernel of truth once you get past the misconceptions, but as is always true anytime money is involved you should always be certain of the facts before investing any of your money on the word of anyone, whether a trusted friend and advisor or a stranger.  After all it IS your money you stand to lose not theirs!

 

 

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