Five Internet Marketing Myths

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Myth #3: You Can "GET RICH QUICK" On the Internet

This is a trap that most newcomers to the Internet will fall for.  This is because the scammers are SO GOOD at making their products sound so wonderful and that riches will come in so fast.. 

They tout their business plans or products like:

• They are so easy to use
• It takes almost no time to learn their secrets
• You can make big money almost overnight.
• It takes almost no time to run your business

IF it sounds TOO GOOD to be true, then it is (too good to be true).

You need to do your market research.  Find out what people want, determine what you would be able to give them and then plan on putting forth a steady effort to accomplish it.

IF you don't put in the time, you won't make a dime.

Myth #4: It "COSTS ALMOST NOTHING" to have an Online Business

There is a grain of truth to this myth, but it remains a myth because there is still a lot of untruth in it.  I do concede that it is much cheaper to start a business online than to start a  "brick and mortar" business off-line but you are still going to have costs.  Most of them will be:

• E-books and learning materials.  Even if you know a lot about a subject before going online, you are still going to have to learn how to market your product or knowledge online and how to use the internet. 
• Domain names.  You will have to buy a name for every website that you set up.  If you only have one, then this will be a small expense.  (About $10)

• Hosting space from a dependable hosting company.  Depending on your hosting situation and plan, this could run anywhere from $50 to several hundred dollars per year for a website.
• A connection to the internet through an ISP company.  Usually paid by the month.
• Programs and tools to run your business.  This one can end up being a big expense.  You might need accounting software, a good graphics program, a web design program, a word processor, a spreadsheet program, a database program, etc.
• Advertising expenses.  How are you going to get customers or let them know about your business.  You can keep this cost to a minimum by relying upon the search engines to find your business, but to do so, you will the need to spend some money and time making your website search engine friendly.  This is called "SEO or search engine optimization".
• On going education and training.  Don't think that once you learn how to do something or become successful, then your learning can stop.  The internet is always changing and there are thousands of other people online who are competing with you who have similar products or goals. 
  
  There will always be someone else who comes up with a better "mousetrap", a another way to steal your customers, and who will figure out how to "out market" you.  If you don't continue to improve, then you will lose ground and ultimately lose your business.

Myth #5: It's "TOO LATE" to Start an Internet Business

It can be somewhat overwhelming when you consider how many people are marketing products on the internet.  Many, if not most, of the main brand name retailers are already online.  There are literally tens of thousands of retailers online.  So why in the world should you even consider an online business.

Well, one reason is because the amount of money that is being spent online is catching up with, and in for many retailers, surpassing their sales figures for their "brick and mortar" stores.  Online sales continues to increase at a robust rate every year, while off-line retail sales for many retailers is sluggish. 

According to ComScore Networks from 2005 data: "E-commerce spending over the November and December holiday season is expected to exceed $15.8 billion, up 29 percent from the year-ago period. Consumers spent $14.8 billion online between Nov. 1 and Dec. 26 versus $11.5 billion during the same weeks in 2003." 

And.. "Based on the results for the first half of 2007, overall U.S. online consumer spending is on target to reach $200 billion by years end. Overall U.S. online consumer spending for 2006 totaled $170.8 billion."

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