There are a lot of people who would love to give up their job and work for themselves. This has always been the case I suppose, but the recent economic crisis has made many aware of just how fragile their fiscal wellbeing can be if they are dependant solely on a job. To put it bluntly, there is very little corporate loyalty nowadays. There is definitely no such thing, if in fact there ever was, as a job for life.
The advent of the internet has made the work from home dream much more obtainable for many. It allows you to market goods or services online, accessing the entire world as a potential marketplace. The costs associated with selling online are, when compared with a traditional bricks and mortar business, very low indeed. Instead of having to pay rent on a workshop, along with service bills, staff wages and, of course, the cost of physical stock, you can just set up a web presence and promote someone else’s goods as an affiliate without the need to handle any stock, pay any rent, or employ any staff. You should budget for the cost of your internet connection (which you might have anyway), the cost of buying your own domain and the cost of web hosting. Over the course of twelve months that’s going to be less than $100.
That is certainly a slightly simplified model, but not overly so. You will need to learn some skills along the way – but there are plenty of free forums where this can be done.
All the same, it can be a daunting task. It’s easy to find excuses as to why you won’t be able to do it – but most of these can be readily overcome.
For example, one of the most frequently cited reasons why fledgling internet marketers either don’t start or give up in the initial stages of their business development is because they are worried that someone is already doing what they plan to do. They worry that someone else has cornered the market. In fact, if you consider marketing a particular item online and discover that there is a high level of competition then this is an excellent indicator that you have found a lucrative market. It may be that the marketplace is saturated – but this is infrequently the case. There are very few instances where you need to be the first business into the market in order to succeed – and there are many real life business cases which we could use to underline this point.
One such example would be the Amazon Kindle ebook reader – no doubt one of today’s hot products. You might be forgiven for assuming, looking at Amazon’s current dominant position, that they have innovated and developed ebook devices from an early stage. And there’s no doubt, Amazon have brought the Kindle to market using some very inventive strategies, but they are, if anything, more than a little late to the party.
Amazon launched their original Kindle in November of 2007 some 8 years after the Franklin ebook reader, widely believed to be the first commercial scale ebook reader, was released in 1999. Today of course the Franklin device is no more and the Kindle, not the sole ebook reader on the market by any means, is dominant. Amazon’s marketing and delivery has been superior to their competitors and that’s why they are setting the pace.
So, if you find a market with plenty of competition, don’t worry unduly. Plenty competition just tells you that the market is potentially profitable. It certainly doesn’t matter that you’re not first to market. You get rewarded for being better – and cleverer – than the competition, not for being early.
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