The Influence of the Internet on Home based Business by Stephen Okoronkwo

The Internet heralded the democratization of the business model as it enabled entrepreneurs with limited access to capital to start online businesses that they could easily and effectively run from their homes. The business models that were beset with problems of hierarchy and rigidness were eliminated with the adoption of enterprise wide Internet based reporting and management technologies. Running a business was no longer a prerogative of the established business enterprises. If you had a product or service that is unique and satisfied a definite need of your customers, you could start marketing these services using the Internet as an enabler. Thus the definition of the home based business as a business servicing a small community was changed forever.
Internet marketing emphasizes on product promotions based on themes of lifestyle, technology and utility to make the customers aware of the benefits of a particular product. Some of the popular online marketing tools that are used by home business owners to popularize their products and services are opt-in newsletter, special time based promotion and offers of extra services on purchase of a related product or service. Advertisements can influence consumer’s buying behavior by showing the utility of a particular product in satisfying a personal need of the consumer. Let us now look into some of the elements that would help you to convert your home based business into a winning business model.

Before going into the specifics of running a home based business, let me clarify that there is no easy way out or a method of earning a lot of money without proper business values and operational principles. The accent here is on the practical side of running a business and not on developing a theoretical framework. There are a lot of small business experts who write detailed blogs and maintain subscription based websites for discussing potential issues and possible solutions to the business related problems that may be faced by entrepreneurs running a home business.

Pricing is perhaps one of the most significant strategic decisions that you would have to take as the owner of a home business. This is perhaps the single largest factor that will act as an enabler to your online marketing efforts. The issue that you have to deal with here is that your product or service has to be priced in a viable manner so as to be acceptable to your prospective international customers. Many home businesses try to provide value to their customers by offering unique value additions coupled with the basic product or service offerings.

The online marketing opportunities for small home businesses are diverse and you can choose from the many business models based on the time and commitment that you would be able to set apart for catering to the operational needs of the business and that of your customers. Home based business opportunities can be converted to a viable business proposition if you put in the required efforts and have sufficient information on the latest innovations in the Internet based business model.

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