In recent years, online
businesses have challenged the traditional idea of what doing business
is all about, not only in concept but also from a financial standpoint.
Indeed, you probably have seen how over the last
10-15 years companies like Google, Yahoo and many others which are
maybe just a dot in the sea of internet businesses, have conquered
a financial success many traditional companies could never dream
of.
The explanation for this is that both offline and
online businesses relies on its potential for reach in order to
make a profit. In other words, there is a hungry crowd out there
that you must feed with a product or service they are willing to
pay you for. The more people you reach, the more chances you have
to get a part of that hungry crowd to put money in your pocket.
Within the offline or traditional business model,
which is an operation ran from a location with employees and inventory,
increasing your reach thus your profits will demand you invest a
large amount of money in order to get your business up and running
adequately.
On the other hand, within the online business model
increasing your reach is more a matter of know how rather than a
matter of money. Indeed, if you know your way around the internet
marketing as a discipline, you can replicate the reach of a million
dollar company with less than Rs100 in your pocket. Therefore, to
me the online business gets the upper hand, as this entrepreneurial
alternative makes owning a highly profitable business accessible
to the masses.
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