Starting an internet business can sound like a dream: work from home, set your own hours, be your own boss. But most internet startups require significant investments of time and money, and many of them fail. If you’re considering buying an internet business opportunity, know that the promise of big earnings and ideal work conditions is a pipe dream for most. Regardless of the handful of stories you’ve read about college-age entrepreneurs turning into internet gazillionaires, there’s no such thing as a sure thing.
You may encounter pitches like “Start your own internet business;” “No experience required;” “Experts available to coach you” in a variety of places: on the Web and in e-mail offers, infomercials, classified ads, flyers, texts, telephone pitches, seminars, and direct-mail offers. The Federal Trade Commission (FTC), the nation’s consumer protection agency, says that many of these solicitations are scams that promise more than they can possibly deliver. Often, bogus internet opportunity sales pitches are short on details and long on high-pressure tactics to persuade you to buy before you’ve investigated the offer.
Short on Details
An internet business is just like any business – it requires a solid business plan. Anyone who sells legitimate business opportunities should give you detailed information. Be skeptical of a seller who offers vague descriptions of what the business is and how it will work. Sit down and ask yourself some critical questions, like:
What would you be selling or doing?
How and why shoppers would find and use your website?
How would the business generate income and what are your specific expenses?
Answer these questions before you pay any promoter the price of admission to a business.
Some sellers claim you don’t need to understand the details of the business because “it’s the internet” or because their expert coaches and support staff will “take care of everything for you.” The internet is not a magic place for business owners: in an internet business success requires the same solid planning and hard work as in any other venture. It’s your business and your reputation; you can’t afford to be in the dark about key details.
