Internet Riches Overview:
Scott Fox is an online business consultant, best-selling author, and “graduate” of corporate America. After pursuing various career paths as an investment banker and lawyer, he settled into his dream career as a lifestyle entrepreneur. As an author, Fox is best known for his books: Internet Riches, E-Riches 2.0, and Click Millionaires. As a consultant, some of his notable clients include Larry King & Bill O’Reilly, for which he’s built websites that generate multi-millions of dollars in sales.
In Internet Riches, Scott Fox outlines the extraordinary rewards of starting your own online business in today’s technology-driven world. Thanks to the worldwide reach, 24/7 communications capability, ease of updating, and low cost, owning your own internet business carries less risk than any other type of business in history. So what’s stopping you from creating your own “Lifestyle Business” characterized by flexibility and fulfillment? Can you afford not to pursue your passion? Overall, the concept Fox is trying to get across is that even moderate success at e-business can help you live a “Millionaire Lifestyle”.
Corporate Employment vs. Your Own Online Business
Throughout your entire life, I’m sure you’ve been taught to see corporate employment as a more desirable path as opposed to the “risks” involved in starting your own business. As a result, 50% of people state insufficient financial resources as their primary obstacle to getting started. We’re no longer talking about $25,000+ for rent, parking, signage, staff, insurance, and various other traditional business costs. Fortunately, you can now start your own full-time, income-generating online business for about $500 or Less.
If you take some time to think about it, there’s no doubt that your friends and family, education system, and society as a whole always push you toward “steady jobs” rather than encouraging the personal and financial freedom that comes with internet business. Scott Fox will teach you how to become a “Graduate of Corporate America”, which he himself is proud to be.
Traditional Start-Ups vs. Your Own Online Business
The main difference between a traditional “brick and mortar” business and an online business is the cost. Traditionally, starting a business was a major financial undertaking due to necessities like a physical store location, office space, insurance, employees, inventory, recurring postage fees for marketing, in addition to many more overhead costs.
With an online business, you can create an income-generating website from the comfort of your own home with only a computer and an internet connection. With today’s rapidly evolving technology, the software needed to create a professional-looking website has not only gotten cheaper, but much easier to use. Those lacking the “tech-skills” to design a website from scratch can create one in just minutes with a premium website builder like WordPress.
The Internet is Too Complicated
This is a major concern for many potential internet entrepreneurs. They think the internet is too complicated and they’ll never be able to make money on it. The fact of the matter is that this couldn’t be further from the truth. Online business communities and training services like Wealthy Affiliate can provide step-by-step tutorials covering everything you need to know. Overall, anyone with a passion and motivation to take action on their dreams can become a successful e-business owner.
We are still just at the frontier of what the Internet is going to become. The sooner you get involved and learn about the Internet, the sooner you could find success in e-business. You don’t have to learn it all at once; just a little every day can help you find the appropriate opportunity for you. You don’t need to spend a lot of money these days to start an e-business, either. From anywhere, including your kitchen at home, you can use the tools of companies like mine to learn and put them to work inexpensively building your own e-business, too.
– Bob Parsons, Founder of GoDaddy.com (p. 142)
The Law of Large Numbers:
[A Really Large Number] x [A Really Small Number] = A Big Number
The above equation makes it really simple to understand the potential of your own online business. The “Really Large Number” represents the 3 billion internet users in the world. The “Really Small Number” is the percentage of those internet users you can get to visit your web page. Even just 1 percent of 3 billion is still 30 million! Overall, what I’m trying to get across is that even a small following of fish from the giant internet pond can result in a highly successful e-business venture.
The Small Business Advantage:
Thanks to the internet, small business no longer means small reach, small revenues, and limited availability. You may not realize it but your own small business has many advantages over big business.
Large corporations are forced to do things big. With high overhead costs, they must create products that appeal to general audiences Since the overhead costs of your own online business are virtually nonexistent, you can afford to specialize your products to meet the specific needs of your target audience. Specialty products also command higher profits.In the end, the increased efficiency, worldwide reach, and small cost of your own e-business allows you to compete with the “big guns”.
The Internet Riches Wrap-Up:
Internet Riches by Scott Fox is not about “get-rich-quick” strategies or vague strategies for “envisioning abundance” or “positive thinking”. It is an efficient and effective action guide with recommended tools for building your own online business. The best advice I can give you is to take notes as you read in order to discover yourself: your interests & ideas. The most important question is: who are you? Consider your gender, hobbies, religion, education, affiliations, expertise, ethnicity, career, location, etc. Doing this will allow you to choose the business that you’re most passionate about and is the best fit for you. Once you do this, you can use Scott Fox’s advice, experiences, and tools to revitalize your life, career, and bank account via a successful online business.
Written by Matthew Thomas