While we see the headlines about thousands of new internet sites being launched each and every day of the year, it seems that more and more would be online entrepreneurs are calling it a day. The news that some are struggling will not surprise those who follow the industry but why are people calling it a day? What is the problem?

The problem with many new entrants to the online world is the fact that they see the headlines, they see the multi-millionaires driving about in their new Ferrari’s and they want it – tomorrow!

There is no other business environment which can match the internet for building up your hopes only to scupper them and leave you feeling helpless – but is it really that bad. The sad fact is that many people who join the online revolution come to the party with some great ideas, fresh thoughts and a will to win. However, too many get disappointed and leave the scene before they have given their site and business a chance to breath. It does not happen over night for 99.999999% of people, so give it time and give your new business time to breath. Make sure you don’t give you site and your early start business away for buttons!

More and more people are set to feel real pain and guilt in the future with more and more savvy online business people picking up good sites, good domains and great business ideas for “buttons”. A little bit more “link juice”, a revamp of the site design and the business you sold for a few dollars may well be the success story of tomorrow. Don’t regret it, don’t give it away and don’t lose the faith!

The chance to make a living online is there for all of us, we all just need to take a little more time and work, work, work…..the chance is yours, don’t miss it!

To those on the outside looking in, life on the internet looks like a bed of roses with “everyone” making big bucks and living the highlife. Oh, if only that was the case!

The problem with life on the internet is time, and the lack of it, there is never enough time to do what you need to with your sites and also live a “normal” life offline. Many business people have actually seen their lives change once the internet bug takes hold, because while partners and children enjoy the comfort which a successful business can bring, time with the family can be very much at a premium.

The press seem to have built up the online industry into something which is out of the reach of the masses, when in reality it is well within the reach of everybody if they are prepared to work for it. We hear about the multi-millionaires who grace the front pages, the sites which started from nothing and were sold for hundreds of millions of dollars – but this is not real life.

Why do people believe all of the hype about the internet? Nobody goes into an offline business thinking that everyone else is a multi-millionaire, so why is the internet different?

While the costs of operating on the internet have fallen substantially over the last 20 years, the general public does not seem to appreciate this. They see an industry which has spawned hundreds if not thousands of millionaires and they think it is out of their reach. In reality, life on the internet is tough, the hours are long and it can only take on tweak of the Google algorithms and your whole business can come crashing down.

The internet is an ever changing beast and the while the overall market is enormous, more and more of the big players are taking the lions share, leaving the small business sector to fight over the scraps!

As more and more people look to work from home, setting up their very own empire online, does a successful site mean that you can have no social life at all? Or is it all down to how you plan your day?

The vast majority of websites will not require cover 24 hours a day 7 days a week, and while many webmasters may look to offer this as much as possible, other areas of their lives can suffer. A non-existent social life can cause problems not only with relationships with your nearest and dearest, but if taken too far there can be health issues. It is not healthy to be sitting in front of your machine 24 hours a day 7 days a week!

In the early days of any business, and the internet is no different, there will be times when you need to spend more time on your computer or more time thinking about strategies, etc, but this should not last forever. Once your business is up and running you also need to weigh up the income that it is creating against the time that your are spending – if your hourly rate is too low then perhaps you need to look elsewhere, cut down your hours, or think of a different angle.

Do not work for hourly rates which you would be embarrassed to ask someone else to work for, it is not fair on you and the long term benefits to you will be minimal.

The bottom line is that there are businesses out there which are perfect for the internet, business which will give you a decent return on your time and investment, but you need to plan your strategy and make sure it is viable. If you are working yourself to the bone now, with no social life, low hourly rates, what would happen if a competitor tried to hit your market and pushed prices even lower?

Just because you are working online does not mean that you have to forget all of the basic rules of life and business – it is good to make money, but do not work yourself into an early grave!

As we all know, the world of business is littered with once friendly partnerships which suddenly descend into chaos and fallout when the big bucks start to roll in, but are you better off working alone or with a business partner?

While there is no right or wrong answer, we hereby list a few of points for you to consider :-

Working Alone

Pros

You are your own boss! In essence, what you say goes and you have full control over the direction of your business.

You keep the profit.  While this is a very important part of any business, it needs to be balanced against what you can gain in the future from bringing in assistance.

Cons

Hard work! If you run a one person business then the likelihood is that much of the work will fall down to you – even if you employ staff for some areas of the business.  People who work on their own tend to do too much and are not keen to give any kind of control away.

Nobody to bounce ideas off.  There are always times when we may know the answer to a question or problem, but we night just need that confirmation from someone else – a seal of approval so to speak.

Working With A Partner

Pros

Discussions.  When there are two people involved in the business it allows each to bring their own particular strengths to the table, giving a different angle on many situations.  This can prove vital and may prompt questions which may normally have been missed.

Spreading the work load.  While even a business which has two affective owners will see each taking on more than their fair share, it is a whole lot better than working alone to impossible deadlines and a work load which keeps growing and growing.

Cons

Arguments! Even the best business partnerships have their fair share of arguments but it is how you handle these heated debates which will dictate the success of our business.   

Loss of lifetime friendships.  Working with a friend of family member is not a good idea, and can ruin what might have been a lifelong friendship.

These are just a few of the points which you need to consider when going into business, whether this is by yourself or with a partner.  While many of the downsides to working alone or with a colleague can be reduced by bringing in skilled advisers on an adhoc basis, there is still much to consider even if you go down this route. 

However the bottom line is that you need to spread the workload, take advice where required and listen to what is going on around you.  While business and pleasure do not often mix, there are cases where it can work so long as everyone knows the ground rules!

I’ve noticed that it’s really popular to post how much money you’ve earned from your blog during last month (Tyler Cruz, John Chow and others are doing it), so here are the earnings Xavier Media got from this blog during December 2007:

• Commission from eXavier.com: $6.95 - Yea that’s right we sold one .com domain name referred from this blog

The costs for running this blog are:

• Virtual Dedicated Server from eXavier.com: $31.99/month

/Andreas

This post is actually a parody on all the “I earned XXX last month” posts since I don’t think that’s real content for a blog. I can agree that it’s fun to see how much other people are earning, but it’s not content for a blog unless you write gossip or work for Fox