10 Things You Must Know To Be An Internet Entrepreneur

10 Things You Must Know To Be An Internet Entrepreneur

Being an internet entrepreneur is just like other forms of entrepreneurship. The entrepreneurial journey of an internet entrepreneur is similar to any forms of entrepreneurship.

It is not a “get-rich-quick” scheme. The entrepreneurship journey of an internet entrepreneur similarly demands hard work, perseverance and passion of any other type of entrepreneur. The only major difference for an internet business is that you don’t have to stick to a 9-to-5 job routine.

In this article I want to show you 10 things you must know to be an internet entrepreneur. This is not a shortcut to a successful internet business but a guideline on how you can get started on your internet entrepreneur journey.

1. Start, even when you have a day job

The biggest advantage of creating and building an online income is that you don’t have to quit your day job. You can work on the business while maintaining your day job. Your online venture is open for business 24/7 and you can work on it whenever you want and for as long as you want.

And the best part? Your business can run on auto-pilot once you have it set on the right track. After that you will have more time for yourself, family, social and leisure activities.

When your business gives you a regular income that is equal or higher than what you’re getting paid in your day job, you can consider sacking your boss and going full time.

2. Learn skills you need to succeed

Try to learn some internet business skills such as internet marketing, social media marketing, HTML scripts, creating attractive images and building a website.

Read this QuickSprout beginner’s guide to growth hacking to learn techniques to acquire, convert, retain and monetize your online customers. You will also need to learn soft skills to equip yourself in your journey as an entrepreneur.

3. Understand that it takes time

It is important to remember that there are rarely any true ‘Get-Rich-Quick’ schemes on the Internet. Look upon it in much the same way as you would if you were creating an offline business.

Being successful in any business requires commitment and a positive attitude right from the offset as rewards can be scant in the early days.

4. Avoid people who tell you that you can make money online fast

Any website telling you that your money can be doubled or tripled in a matter of days are probably lying. Avoid them at all costs. They never work. If it did, they wouldn’t be sharing it with you.

You will no doubt come across those who will try to convince you they have found such a recipe and want to share it with you. Such scams only wastes your time and money without any real result.

5. Be skeptical when it comes to ‘official’ documents

Don’t pay too much attention to images of earnings checks or bank statements purportedly demonstrating how much the account holder has earned. Creating these documents are easy.

You can create earning checks, bank statements, letters of recommendations and testimonails using the software available on most computers. Remember, just because something looks legit doesn’t mean it is.

6. Have the right attitude

The journey will be long. But think positive and stay focused at all times. If you were to take a close look at all the successful Internet entrepreneurs who have made a great deal of money from their endeavors, you would find they have one thing in common: dedication.

They are prepared to work long and hard to achieve their goals. They do not lose heart if everything doesn’t come together today, and they are rarely influenced by the ‘quick buck’.

7. Learn to keep your business organized

It’s important to keep all your business activities logged and documents filed in the correct folders. Check your email accounts at least daily and file the important ones.

8. Treat your customers well

Have good customer service etiquette. Good customer service will make your customers come back over and over again. You wouldn’t want your internet business to have publicity for the wrong reason in the world of social network. It will be difficult to gain back your customers.

9. Don’t easily lose customer trust

Never lose your customers’ trust as in the internet world, trust goes a long way. They are your most effective sales people in the virtual world, recommending you to all their friends if they like your service. This word of mouth marketing is not only effective but usually free. You don’t have to pay a cent in marketing to get the results you want.

10. Learn to market with permission (don’t spam)

Stick to the basic etiquette of Internet Marketing. It’s tempting to send out high volumes of unsolicited email but don’t. Most people see this as spam and will view your company in a bad way.

Instead, run marketing campaigns to get the solicited emails. Solicited emails are those email addresses in which the owners have given permission to receive more information from you. You will make useful contacts during your Internet campaigns.

Conclusion

There are many opportunities for building a profitable online business. However, like any other business, building a profitable online business will take dedication, perseverance and time. If you’ve been thinking of becoming an internet entrepreneur, this set of guidelines will serve to make your Internet Entrepreneurship experience a safer and more enjoyable journey!

Andrew Wong is the co-founder of Entrepreneur Campfire and CEO of MAD Incubator, the largest business incubator in South East Asia. In his career, Andrew has started 8 incubators and 2 venture capital funds. Andrew is passionate about entrepreneurship and likes helping entrepreneurs.



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