Is It Possible To Get Rich On The Internet?

May 2, 2008

by Iyabo Oyawale

Now let me go straight to the point, is it possible to get rich quick on the Internet? I know you have seen and heard several get rich quick on the Internet claims.I am sure ‘Make $100,000 in 3 hours Without Any Stress Whatsoever’ is a phrase you have heard so many times.
But the truth is,a lot goes into building an Internet Business such that it would be improper to say it is a get rich quick process.While there are tremendous possibilities on the internet, you have to be patient. Far too many people go into a business expecting to get rich over night. There are some things you can do to speed up the process, but do not expect to go from rags to riches over night.
In many ways,building an internet business is not different from building a traditional business. It takes the same effort,time,energy and planning to run an offline business successfully.An offline business does not turn in profit from day one,same for an online business.And if you will permit my bluntness,it is virtually impossible to get rich quick on the Internet (I may be wrong,so,you can leave your views below).
The first thing to consider when you want to start an Internet Business is to ask yourself the 5Ws and H.If you are a ‘retired journalist-turned-Internet Marketer’(laughs) like me,you already know what I’m talking about.In journalism,we have the 5Ws(what,who,where,when,why) and H(how) of a news story and if you are writing the report of an incident that has taken place,your report must contain all those elements or else,it won’t be considered complete (gosh,this reminds me of my Journalistic days).As an intending Internet Business person,you must ask yourself the 5Ws and H,that is:
1.What-what am I going to sell online which people will gladly give me money in exchange for? Is it a product or service? This largely depends on your hobbies or personal experience as well as a market need.Locating a need in the market and deciding to fill that need.This way,you are assured that people already want what you want to produce,so,you don’t need much convincing to sell.This is largely true for someone who wants to go into the Infoproducts creation and marketing business because anyone who has been online for sometime nows there are different business models on the Internet.
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