What is an Internet Business ?
An internet business is a business that offers its services and/or products on the Internet. Especially, offering services on the Internet is the preferred subject in this article and on Siteboat.com.
Essentially, every business has a single purpose; to make profit. So an Internet business must be profitable, too. There exists many different ways to make money on the Internet; there are many Internet Business models which are the new forms of traditional business models. Best example for Internet Business form of a traditional business is online advertising. ‘Internet business models’ will be topic of a future post on Siteboat.
The best part of an Internet Business is its Astronomical Market. Worldwide Internet population was 1.1 billion in 2005 and projection for 2010 is 1.8+ billion. More than 60% of population of USA,Canada, UK, Germany, Japan, Sweden, Finland, Singapore and other developed countries with the highest personal income values; are using Internet. And the emerging giants like China, India, Russia, Brasil, Turkey and others have Internet usage rates those double in a year.
The main advantage of the Internet Businesses for customers is to reach your service whenever and wherever they want. Mobility is a strong speciality of the Internet businesses. A traditional business has working hours and available on certain days but an Internet business is online for 24 hours, 365 days.
Getting customer feedback is very necessary for all businesses and the Internet Businesses has several ways to take customer feedbacks online. Market research is easy and customer actions are more measurable for the Internet businesses.
It seems easy to launch and develop an Internet business, but it can be a complicated process for inexperienced newcomers. Nowadays, the Internet business trend is very popular but it’s very competitive and earning money online is a difficult task.
Like the traditional ones, a challenging Internet business need a creative, innovative, marketable and profitable business idea. You can read our ‘Business Development Series’ to manage your business idea creation and business planning process efficiently.
We will go on this topic on the ‘Internet Business Models’ and ‘Internet Business Development’ posts.