by David Lim
You have been saying that you are going to quit your job and try out that Internet business idea of yours since the time that dinosaurs walked the earth so isn't it about time you did a little less talking and a little more doing? If you don't get off your behind and do something about it, I'm going to bet my bottom dollar that in 10 years time, you will still be just talking about it. Or worse, someone had the same idea and made it a hugh success.
But before you throw caution to the winds, there is something to be said for being prepared and knowing what you are getting yourself into. An Internet business is not a job and requires a different mindset and perspective, and makes different demands on your time and ingenuity. So, before taking the plunge, just take a step back and mull over the potential risks and rewards:
The Sky Is The Limit
In many jobs, you will hit a ceiling after a few years, in which you will find it difficult or impossible to advance further. That is understandable as there can only be that many CEOs, managers or supervisors in one company.
With an Internet business, you can fly as high as you want to. The success of your business is wholly dependent on your ability, your effort and the time you put into it. The only ceiling you will face is the size of the Internet.
Flexible Hours
In an Internet business, you can work as and when you want to. If you need a day off, go ahead and take it. If you need to take half an hour off each day to fetch your kid from school, by all means.
But just because the hours are flexible does not mean that you are working less. If anything, you will probably need to work longer hours to get your business off the ground, especially at the beginning.
Money
You do not get a regular paycheck. You get paid if your business does well, if not, well, you don't get any money for that month.
But really, the money's great. In the beginning, it's going to be a struggle. If you stick it out, do the right things, work hard, you can potentially earn much more than you ever will in a normal job.
But also remember that in business, success is never guaranteed.
Working Alone
For most Internet businesses, your work will be done solely online. And you probably will be the only person working on the business during the startup phase.
If you are an extrovert and enjoy the social interactions in the office, this is one aspect of an online business that you must seriously consider before taking the plunge.
The Buck Stops Here
If there is anything in your business that is not working, you have got to fix it. Whether it is a bad link on your site, or corruption of the database, or a package not delivered, or a customer not happy with your product, or....you get the idea.
You are the boss. You are no longer an employee in the accounts department on a monthly paycheck. You, and you alone, is in completely control of your business. And that means you are responsible for any problems that may crop up.
Low Barrier to Entry
An Internet business can be very cheap to start. The cost of a domain name, monthly web hosting charges and an Internet connection are all you need. Of course you will probably need to contract out some work, buy some tools, some information, etc. But $100 - $500 to start and $100-$200 monthly running costs should be plenty.
The low costs also work against you in that every Tom, Dick and Harry will be in the fray with you, fighting tooth and nail for every piece of business that comes along.
Conclusion
While an Internet business is a great opportunity, it is not for everyone. Do your homework before deciding to start one. Or, better yet, try it out on a part time basis. If things work out, you can ditch that job and tell that sorry excuse for a human being that is the boss what you really think of him. If not, then I guess your job is not that bad, right?
David Lim is the webmaster of http://QuittingYourJob.com, a business resource for the entrepreneur looking to start, or grow an online home-based business.
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