The hype or fact equation
How much money can you, the entrepreneur, make on the Web? Are there really entrepreneurs making millions on the Web? Can it be both hype AND fact that entrepreneurs are making millions on the Web? All these questions have been asked and answered many times by entrepreneurs who did their due diligence in researching the possibilities of making money on the Web over the last 20 to 30 years. However, we will take another look at this topic.
First and foremost let’s talk about the “hype or fact” element. Of course there are entrepreneurs making millions on the Web! And it is certainly reasonable to believe that you can be one of them. However, you should not allow any hype surrounding the emergence of opportunities cause you to lose your common sense.
Entrepreneurs become millionaires by effectively assessing the needs of a market and having a product or service that addresses those needs. There is a lot of hype surrounding the issue of making money on the Web, but as was stated earlier, entrepreneurs can make millions on the Web.
Before and after the Web
The Web can greatly expand your methods of selling products and/or services, as well as the market to which you sell them. Some entrepreneurs have been able to use this marketplace to make a lot of money. Some companies that operate only on the Web have made Web millionaires of their entrepreneurial founders. There is probably little doubt that Google founder Larry Page and Facebook owner Mark Zuckerberg were young entrepreneurs who aspired to be millionaires before they actually became Web millionaires.
Let’s look at it this way. Before the Web there were auctions, but no eBay. With thousands of items sold daily, each one making a profit for eBay, there is no doubt that the founders must be entrepreneurs who had an idea for eBay – or something like it – and are now Web millionaires. And before the Web there were bookstores, but no Amazon.com. Today Amazon is outdoing traditional bookstores. Don’t you wish you were the entrepreneur who founded Amazon.com? Or, at least, one of the founding entrepreneurs?
An idea and a belief in self
Web entrepreneurs who become millionaires start with an idea and a belief in themselves. They find a way to set themselves apart from the rest. Like real world millionaires, they often have enough faith in their ideas that they risk their own money and even seek additional funding elsewhere. Once they get started, they make themselves big enough that the other competition does not threaten them.
Entrepreneurs who become millionaires on the Web, start early in the game. For example, now that we have eBay, people often forget that there are other auctions. The only real competition Amazon.com has today is the traditional bookstores that were always there and since Amazon.com has expanded into several other product lines it is somewhat of and overstatement to refer to traditional bookstores as competition.
When optimism outweighs pessimism
If you, the entrepreneur, want to be a Web millionaire, think of a need that is still largely unfulfilled or a market that is largely untapped. After that, you will have to believe in your idea enough to take some financial risks. If it doesn’t work, you lose your investment. If it does however, you might join the ranks of entrepreneurs who became millionaires on the Web.
In conclusion, let me pose this question: If you have what you think is a great idea, and you believe in it, wouldn’t your optimism that it WILL work outweigh your pessimism that it won’t? If your answer is yes, it follows then that although the risk of financial lost is real and you have taken that risk into consideration, it does not outweigh the prospects of success for your idea. If you agree with this conclusion, then you truly are an entrepreneur at heart!
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