{"id":7,"date":"2015-03-19T00:00:00","date_gmt":"2015-03-19T00:00:00","guid":{"rendered":"https:\/\/empowernetwork.com\/fontainenetwork\/10-tips-for-choosing-the-right-internet-business\/"},"modified":"2026-07-27T18:00:51","modified_gmt":"2026-07-27T18:00:51","slug":"10-tips-for-choosing-the-right-internet-business","status":"publish","type":"post","link":"https:\/\/empowernetwork.com\/fontainenetwork\/10-tips-for-choosing-the-right-internet-business\/","title":{"rendered":"10 Tips for Choosing the Right Internet Business"},"content":{"rendered":"

First and foremost you have to have decided that you want<\/em> to start a new business. <\/span><\/p>\n

That the idea of being an Entrepreneur excites you and that you see all of the opportunities that are available to you.<\/span><\/p>\n

Whatever your WHYs, or reasons for having made this decision, you have to know that this will take a Vision, Focus,\u00a0Education and Training, the determination to Take Action and Make It Happen, and the ability to SEE IT HAPPENING.<\/span><\/p>\n

I have recently been writing about retirement situations that the Baby Boomers have begun to find themselves in. Able to retire comfortably, not so comfortably or not at all.<\/span><\/p>\n

For Boomers in the last two categories, a homebased business can be the answer to increase one\u2019s income and lifestyle.<\/span><\/p>\n

Picking the right opportunity is key to this for everyone. And if it has a residual element to it, it can be a Legacy for your family as well.\u00a0<\/span><\/p>\n

I\u2019ve also written about younger adults who have accumulated a great deal of college debt or who want to work for themselves as Entrepreneurs and work from anywhere in the world where there is an internet connection.<\/span><\/p>\n

No reason anyone can\u2019t build this business from a beach or deck by a pool either.\u00a0<\/span><\/p>\n

So today I am offering 10 very good ideas for everyone to consider who is looking at the internet as the vehicle for your business.<\/span><\/p>\n

Use these guidelines to help you hone in on the perfect internet business to meet your skills and income needs<\/span><\/p>\n

\u2018Ten Tips for Choosing the Right Internet Business<\/strong><\/span><\/p>\n

    \n
  1. Don\u2019t quit your day job<\/strong> \u2013 Since there are no guarantees in life, it doesn\u2019t make sense to quit your day job until your internet business has proved it can replace the income your day job provides. <\/span>Even then, you may want to keep your day job.<\/span><\/li>\n
  2. Understand that internet businesses fail<\/strong> \u2013 As proven by the dot com collapse, there is nothing \u2018magical\u2019 about having a business on the internet that guarantees success. In fact, most attempts at creating profitable businesses on the internet have failed. Even the big companies that have poured billions into their internet businesses have seen the majority of their efforts fail.<\/span>Don\u2019t let this discourage you \u2013 just understand that failure is more frequent than success.<\/span><\/li>\n
  3. Establish your working parameters<\/strong> \u2013 Before you start evaluating different internet businesses, clearly establish your working parameters. Define how many hours a day, week, or month you are willing to work on the business. Define how much money you can afford to invest in start up costs. Define how many employees (if any), you are willing to take on and manage, and define your exit strategy. <\/span>It is a good idea to discuss these parameters with your spouse or family partners before you set them in stone. Their input is important to your success.<\/span><\/li>\n
  4. Define your goals<\/strong> \u2013 Define what you want to accomplish with your internet business. How much income must the business generate before it is a success? How much a day, a week, a month, a year? <\/span>
    The amount of income you desire directly impacts which business models you choose.<\/span><\/li>\n
  5. Review the business models that have proven successful on the internet<\/strong> \u2013 The recent shakeout on the internet has left only a relatively few businesses standing. By looking at the survivors, we can see that a few business models seem to work well on the internet, while others have little chance of success.<\/span>Those business models that work well include:<\/span>\n