by Clarence Chan
DOING BUSINESS ONLINE COMPARED TO OFFLINE
What makes a successful internet entrepreneur? In some ways being an internet entrepreneur is no different from being an entrepreneur in any other field. The qualities of perseverance, business acumen, creativity, initiative, optimism, diligence, cooperativeness, work excellence etc are universally required for any entrepreneur. These qualities determine the success or failure of any business whether online or offline.
However in my personal experience, I have found that there is a distinct set of qualities the internet entrepreneur needs that the offline entrepreneur does not require. Doing business over the internet is quite different from doing business face-to-face. I have had first hand experience doing business both ways. In any offline business whether retail or wholesale, providing services or products, locally or internationally, business is often transacted and concluded because of personal contacts. Customer relationships are developed mostly through personal meetings or over the phone. This requires great skill in communication and negotiation on the part of the entrepreneur.
But for the internet entrepreneur, communication and negotiation is largely impersonal. Even with the advent of Web 2.0 technology, an internet entrepreneur can still remain anonymous by engaging ghostwriters and professional voice over experts or actors to do his communication and negotiation for him. Have you heard of the Rich Jerk? Very few people know his identity but he has made millions as an internet entrepreneur. Such a thing would hardly be possible in offline business.
THE KEY TO SUCCESSFUL INTERNET ENTREPRENEURSHIP
So what are the unique qualities needed by the internet entrepreneur which are not as crucial for the offline entrepreneur? Technical ability (able to create websites, knowing basic HTML etc), copywriting skills, marketing knowledge, list-building skills, ability to drive traffic to websites are just some of the abilities needed to succeed online. Some are more necessary than others.
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So you Want to be an Internet Entrepreneur
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