Modern successful business owners have become big names. Who can deny that the likes of Richard Branson, Steve Jobs, Mark Zuckerberg or Bill Gates all have great companies that solve problems or made people's lives simpler or more enjoyable?
In business it is often said that the first person into an untapped market will have success. But how many uptapped marketplaces are there today? Often the sheer price of entering these marketplaces is prohibitive.
Traditionally, great business ideas would mean great expense. The price of a 'bricks and mortar' business usually means rents, rates, staff, equipment, inventory etc. These are all items that have a price and it is often this cash that has to be spent before you even begin promoting your products to your potential clients.
However, with the dawn of the 'digital age' and the incredible opportunity provided by the internet, great business ideas are much simpler to put into action. Industry is becoming more information-intensive and less labour and capital-intensive. This implies that the traditional barriers to great business ideas are being removed.
The key to great business ideas.
If the world wide web is the place for great businesses, the actual key is not to begin inventing your own product or trying to take on the established companies. Who really wants to compete with the huge online stores or with start-up companies that are funded, through investment with millions of dollars?
The online business world is like the beginning gold-rush days of the 19th and beginning of the 20th century. In places like Australia, Brazil, Canada, South Africa and the United States entrepreneurs would head off into the hills or the mines trying to find a few nuggets of gold that would make them a fortune.
However, it was not the individuals actually looking for the gold who made their fortunes in the gold rush. More wealth was created servicing the gold rush than from the gold that was discovered. It was the individuals selling supplies and providing services to the prospectors who made the real money.
And that is the key to great business ideas. In other words, do not dig for gold but sell the shovels. There have always been people with problems, wants, and needs. There will always be people creating solutions, goods and solutions to meet these problems, wants and needs. And, most importantly, there will always be a need for individuals connecting these two groups of people and these individuals are the merchants.
A merchant is businessperson who trades in products or solutions that were produced by others, in order to earn a profit when these are sold to somebody who wants or needs these products or solutions.
The modern online merchant is known as an affiiate on the internet and affiliate marketing is one of the great business ideas of the contemporary age. The internet is a giant marketplace where individuals can come to trade products. These products can be actual products or electronic products that the customer downloads. The online affiliate simply connects the customer with the supplier and gets compensated with a commission.
Affiliate marketing is online business structure where you, as a supplier, promote the products or solutions of a vendor and get compensated a percentage when somebody buys the products or solutions from you. Affiliate marketing is a well-known way for budding online business owners who are looking for great business ideas. You do not need any inventory, you can offer what is currently popular and what individuals want. You do not have to worry about any of the fulfilment or delivery of the item as the vendor does all this for you.
The online affilate marketer does not make or produce the item. He doesn't deal with inventory or shipping either. In most cases, the online affilate does not even have to make the ads that promote the product or process the payment. All the online affiliate marketer does is connect the customer with the supplier and get compensated a percentage.
Clickbank is a electronic industry marketplace which sells products that the customer can download instantly. It has paid over $2 billion in commissions in the last 10 years. If you had a tiny slice of that revenue does that count as a great business idea?
All of this is now possible thanks to the digital economy. Once you have learned online marketing as a skill-set, you will be able to write your pay cheque for life.
Source: http://www.artipot.com/articles/1547772/great-business-ideas.htm
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