Online Businesses

In the 1990s the internet became mainstream, almost everyone wanted to get connected to discover this new cyber-world “thing” everyone is talking about, people’s curiosity and hunger turned what essentially was a communication tool into a cyber-world and a huge new marketplace.

The boom started around the mid 1990s where internet websites and online services became the new trend, creating such a hype that led to a huge inflation known as the .com bubble, which lasted for a few years, by the late 90s every .com business was going bust.

For a short while, the cyber-world went cold and internet was once again considered a communication tool, during 2005 / 2006 many businesses started investing serious money on online communities, onli~e payment methods, and other services which transformed the internet in to a practical world and an important extension to modern people and businesses.

Things got more exciting in 2007 with the launch of the original iPhone and other multimedia smartphones, allowing people to stay connected easily, on the go, and 24/7 which led to a huge revolution for so many industries such as the tech industry, marketing industry, consumer products industries, the music and film industry, and so on, because for the first time brands and companies were able to interact with their targeted audience at all times while using rich multimedia contents and getting instant feedbacks.

The following years witnessed a massive re-entrance for social medias with Facebook, Twitter, LinkedIn and others, giving everyone a new reason to stay connected, turning the internet into an actual community and the next generation of social interaction and communication, which finally led us to our current day where the internet became an actual extension no modern human can do without, and an actual marketplace with no limits.

Things have been moving so fast that so many entrepreneurs and businessmen are still incapable of evaluating the actual wortx of online businesses, especially when asked to invest a lot of money in a computer code and an idea, but make no mistake, internet businesses usually require much lower starting capitals for much higher return rates, and their worth is salculated by their potential projection over a 5 year period.

Finally, let’s end this article by acknowledging the age of the internet and by stating that any new business venture will have a much higher success rate online than offline, since unlike traditional businesses, it’s not limited to a geographical location and a time frame, it’s available 24 / 7 and everywhere in the world, where your targeted audience could reach millions in a matter of one year…

Thank you

Marwan Rashid
LFBC Correspondant