A few, however, have stuck it out and made those proverbial pots of gold. Business plans and revenue models have been tweaked and worked upon, and conducting business online is no longer as risky as it once was. All it requires is planning and a systematic approach.
One type of online business that’s doing reasonably well is online shopping, with sites such as Amazon.com raking in millions dollars in revenue annually. Auction sites such as eBay and Apple’s iTunes music download site have also shown that a business model based entirely off the Internet is viable. Online shopping has also become safer thanks to better encryption techniques and payment methods such as PayPal. Surveys have also shown that people around the world are increasingly opening up to the idea of buying items off the Web.
Spurred on by these successes, many individuals are venturing back into the once-forbidden dot-com business sector. A number of collectives are also looking at the Internet to further their business interests. Content providers for the media, Web site developers and Flash programmers form a major chunk of Web professionals.Sites such as www.hungama.com and www.c2w.com conduct their entire business on the Internet.
With technology spreading into different spheres, it has become easier for people to conduct business transactions on the Internet. Will this actually kick off the e-commerce boom? Or will we learn a few more lessons from the school of hard knocks? Our guess is only as good as yours!