We’ve all heard stories of the dot com boom and bust. We’ve seen a handful of the original boomers live to tell the story and succeed in a new generation. With the failure of so many online businesses in the past it may seem something close to insane to consider diving into cyber waters.

No one wants to fail and it seems entirely possible with an online business. So we come full circle, why should anyone consider developing an online business?

The reasons may be many, but I want to key in on a few compelling reasons why an online business can have significant meaning for entrepreneurs.

  • Appeals to the dreamer in all of us. Most of us have an idea we polish from time to time with the secret hope that it can be made into a business.
  • An online environment provides an inexpensive way to conduct business. Many online businesses require very little investment and allow a business to be developed in steps.
  • Does not foster discrimination. An online business provides the opportunity to erase borders that may be felt in traditional businesses. For instance there is no age, gender or ethnic boundaries in an online business. This component alone provides the opportunity to level the business playing field.
  • Allows your business to impact a global marketplace. Your online business will be accessible to anyone with an Internet connection. This allows the greatest potential for business success.
  • Can help finally answer the question. You know, the question you have always pondered, “Do I have what it takes to develop a business of my own.”
  • A part-time online business is workable. If you are unsure of the potential success of your business you can remain in full time traditional employment while you monitor the success of your online company. Remember this can take some time as you wait for Search Engine Optimization (SEO) strategies to fully develop.
  • Can assist in developing self-confidence. The confidence you can gain from developing your own online business can help you in all aspect of your life. The skills of marketing can be learned in your spare time and can be useful in other areas of online and face-to-face interaction.

Most of the barriers erected against the development of an online business are of our own making. We assume so many things about our abilities, our potential and ourselves. Usually we have not assessed our situation correctly and we shove potential back in a cage of our own making.