Lessons for the Internet Entrepreneur

The aforementioned success factors necessary for starting and growing a traditional, brick – and – mortar enterprise, also apply to internet business or web-based enterprise. The challenges are more for the Internet entrepreneur – considering the new form of relationship between the owner and the consumer on the one hand, and the wide pool of potential competitors’ business accessible to the consumer just by a click of the computer mouse, on the other hand.

Basically, in internet businesses, the Netpreneur goes to the consumer by way of inter-enabled technologies. Here, the consumer enjoys the benefit of convenience – can shop at leisure, anytime of the day or night. Also, the Internet offers the ‘‘best environment for concurrent information search and product purchase’’ – consumer could conveniently surf the net for alternative products (evaluation) before making purchase decisions.  This fact distinctly differentiates the Internet from traditional channels.

Cyberpreneurs are not different from other entrepreneurs but what sets them apart is that they (Netpreneurs) operate in a virtual landscape characterized by transforming change. That is, new pattern of entrepreneurial behaviour and performance are more profound in web-based business.

In the views of Professors Lisa K. Gundy and Jill Kickul of DePaul University, Chicago, some factors for consideration in the process of building and growing an online entrepreneurial firm include:

• Establishing a hardware infrastructure that can grow easily with business.

• Understanding how to manage a network of computing environment and how to keep it secure

• Nurturing a strategic approach so as to leverage their knowledge and information over time.

• Building new and improved applications and systems quickly and easily, in response to the ever-changing market and customer demands, and

• Capitalizing on the existing information and experience and quickly applying new intelligence and knowledge.

In addition, a number of scholars have emphasized the necessity of managerial roles and practices adaptation, to this new form of entrepreneurship.  Internet entrepreneurship presents new challenges to the aspiring entrepreneur in this unfolding 21^st century.  Interestingly, the aforetasted challenges to the aspiriring Netpreneur have been overcome with pleasant outcomes.  As an entrepreneur, you don’t have to be a “Bill Gates,” a “Steve Jobs” or a “Phillip Emeagwali” to get your internet business running.  Technology solutions Vendors are readily available!  For examples, Websoft, GoDaddy, DreamHost, BlueVoda, HostGator, GoDaddy , and messageforce.

It has been mentioned that the Internet offers the best environment for concurrent information search and product purchase. Then how do you ensure that interested visitors to the Net would prefer your website to those of competitors? And how do you turn these potential buyers to customers? These are some of the challenges faced by the Internet entrepreneur and are the essence of online Internet marketing.

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