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Can You Still Make Money On The
(I mean, look at the Dot-Coms...)
You've heard of enough bad news. Economic downturn, dot-com fallout,
weak stock market, all the online scams...Some people just don't believe
this "e-business" kind of thing any more.
But before you walk away, I want you to think about something for a moment.
Did you know that between 1998 and 2000, Online
Shopping Within US Grew A Staggering 580%? It's true. Forrester
Research reported growth from $7.8 billion US in 1998 to $45 billion US
in 2000. And online sales reach $5.7 billion in December 2001, - up 14%
from December 2000, in spite of bad economy.
You can read more detailed and latest report here.
And I don't think Singapore is an exception.
Now think about this. Online consumers couldn't care less about the dot-coms
dropping off the Web. More and more people are coming online to shop,
and the number of purchases that they're making each year are continuing
to increase. Those new to e-shopping are making 9 purchases a year and
those with more web experience (5+ years online) are making 20 purchases
So what's going on? Online spending is growing at fantastic speeds. e-Shopping
is becoming a routine part of consumer life. Yet all we're hearing about
right now is failed dot-coms. One by one, companies like Furniture.com,
Pets.com, MotherNature.com, Toysmart.com, Living.com, Mortgage.com, Garden.com,
etc...have closed their doors, and each time the pink slips are handed
out, the media has a feeding frenzy. Feature stories promising easy wealth
and overnight success have now turned into the dot-com obituaries. It's
enough to make your head spin.
And that's why these statistics I've just shown you are important. Obviously
the whole story is not being told. If online shopping has reached 5.7
billion per month, all of this money must be
lining someone's pockets.
A large portion goes to small businesses who sell unique products directly
at their web sites!
Small is a big advantage. Big businesses dominate the traditional business
world. The Wal-Mart's and Microsoft's have steadily forced smaller businesses
out of the way. Not so on the Internet. Three out of four Internet businesses
are very small, often only one person working from home.
You can find many direct sales web sites popping up online everyday.
Some will fail. The ones making money all have something in common:
- focus on a well-defined, easy-reachable niche market
- sell a unique product or have a unique selling proposition
- streamlined sales process
- active and effective web site promotion
- develop backend products
There is still plenty of room for new businesses on the Internet. Now
is an excellent time to be starting or promoting your e-business. Now
you can take advantage of your competitor's hesitation at this dramatic
turning point and scoop up your share of the
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