The general belief about online business ideas is that this is the short-cut to untold riches that can be generated automatically with the help of the computer and Internet. Nothing could be further from truth; a fact that many people realize much too late and after spending a small fortune chasing this mirage. If you are planning to start an online home business, it would be best that you understand that a lot that is promised on the Net is hype. Here are 5 top such myths exploded that will help you understand the ground reality:
Myth no 1: Most online business ideas require no hard work
Truth: There are no free lunches in this world and there is no such thing as money without work. If that were so, why should these people sell the ‘precious secret’ to you or anyone? On the contrary, anything that promises a fast-forward to getting rich are actually planning to rob you of your hard earned money. Any business online or in the brick-and-mortar world requires serious work to get it to the point where it earns you a comfortable income. For example, a passive income stream would require you to work anything from 3-12 months before it would pay you back; and those 3-23 months would involve very serious work and effort.
Myth no 2: The online business ideas will earn automatically for you
Truth: There is no such thing as “automatic earning”. Even when you set up a pre-set affiliate website, you would still need to market it to get it in the top 10-15 SERPs (search engine result pages) to attract any serious business. You will need to employ all possible strategies to increase traffic to that particular website; and without a good ranking on the SERPs you can never do that. To ensure a steady and growing traffic to your website requires perseverance and hard work. It is true however, that once you have achieved a certain amount of visibility earning from that particular website becomes easier and the effort required to promote it becomes easier. However, to reach at that point, it takes quite some effort and SEO focused strategizing.
Myth no 3: The online business will place no demands on your time
Truth: The truth is that whatever business you take up, initially it will demand a lot of time, effort and even money. People who think that they can work any time they want or not at all are in for a shock. To set up any online business you will need to set aside a certain amount of time each day or week to nurture its growth. Most online business ideas seem very easy because of the fancy advertising; a reality that most people find out too late. This is in fact one of the major reasons for the massive number of failures with online home businesses, i.e. there is a lot of gap between the expectations and the actual delivery of these e-enterprises.
Myth no 4: The best online home businesses cost nothing
Truth: While it is true that online businesses cost much less to set up when compared to the brick-and-mortar business, it still requires a certain minimum financial input. For example, you would need to set up a website (even though a blog – which is free – could initially help) if you are serious about making money online; also you would need to market it well to attract traffic. There are low-cost, effort-intensive methods but costs are there definitely. If you are looking to build up a business online with zero input, you are chasing a mirage.
Myth no 5: Most online business ideas are not about work but monetized hobbies
Truth: It is true that many times what starts as hobby can turn out a grand success as an online home business. However, if you want it to earn for you like a business you can no longer look at it as a hobby. Hobbies are indulged for relaxation and pleasure. With business, this work, work and more work. You need to have a business plan, financial forecast, marketing strategy, etc. Approach the business as a hobby and it will never get off the ground; approach your hobby as a business and you could at one time mix business with pleasure successfully.
Keep these truths in mind when you are looking for online business ideas so you will be able to achieve maximum success with less disappointment.