How the Internet Continues to Fuel Bedroom Startups
By Angela Sanders Friday, March 21 2014 @ 01:11 AM EDT
Everybody loves to hear about the underdog beating the odds to fuel our own dreams and provide hope that we too may succeed the same. In recent years there have been countless examples in business of David versus Goliath victories. However, the battlegrounds for many of these corporate exploits haven't been in city skyscraper board rooms but have started out in the comfort of our own bedrooms. The Internet has removed the barriers to the average person achieving great things in business and the bedroom startup volumes continue to flourish. Of course prior to the Internet there was still the chance for the small man to make it big such as Lord Alan Sugar However, such success was much harder to achieve and is testament to Lord Sugar to achieve so much in the face of adversity. Business is by no means easy today however for those with an idea, a vision to implement the idea and a relentless work ethic the odds to succeed and the risks of failure have never been more favourable.
So how does the Internet help entrepreneurs make a go of it on their own?
Start up costs - According to research by Freelancer.co.uk the cost of starting a business online is £325. Within a few days a new company can be legally formed, have a website built and have marketing collateral such as business cards to commence operating. And of course the most obvious cost saving is the free office space that your bedroom duvet and pillow offer you.
Business Knowledge - Entrepreneurs never know everything there is to know about running a business (does anyone?). However, the Internet provides an amazingly deep and accessible repository of knowledge that is free of charge.
Networking - the business community thrives on helping each other. Almost every entrepreneur gets a buzz from helping to open doors for others and usually reap the rewards when the favours are one day returned. Online networking groups can offer small startups easy means of building relationships to fill a skills gap or create new business opportunities.
Low budget advertising - There is no need for deep pockets to allow even the smallest business to occupy the same advertising landscape as the biggest businesses by using paid advertising platforms such as Google AdWords. With the ability to cap daily spend, the entrepreneurs can advertise at levels that ensure a positive return on investment.
Good things can go viral - Great products can quickly become big news as the Internet community communicate what they have stumbles upon. Social media platforms can easily turbo charge the growth of the smallest business. All that exposure is free of charge, thus once again a weapon of David against Goliath on the assumption that David possesses something the Internet community is interested in.
Scalability - when the business outgrows the bedroom the ease at which a business can scale their operation has never been better and more affordable. At the click of a button Web hosting can be scaled up, CRM systems procured and a remote call centre team built. Prior to the Internet these would only be accessible with big capital outlays or in house skills.
So given that the Internet is becoming more integral to everyday life the opportunities for entrepreneurs with great ideas are surely set to continue if not increase which is cause for economic and social optimism.