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The Biggest Challenge Faced by Internet Entrepreneurs

It is an interesting trend to watch on the internet these days – there are so many internet startups that are mushrooming daily that it has become difficult to track the rate at which new internet entrepreneurs are entering the World Wide Web.

Internet has easily become the most desirable place for business for the opportunistic entrepreneur. The world-wide reach given by the internet and relatively low cost of starting up have become attractive parts of the online business. Even businesses that are thriving in the offline world are creating their presence on the internet.

However, the challenges faced by internet entrepreneurs are totally different than from the entrepreneurs who make their business offline. This requires an internet entrepreneur to have a distinct set of skills to adapt to the challenges online.

One of the biggest challenges that are faced by internet entrepreneurs is the rate at which obsolescence occurs online. Internet is such a rapidly evolving and competitive environment that technology, software, social media and opportunities can be at an all time high in one moment and be totally forgotten the next day.

This requires the internet entrepreneur to learn quickly and unlearn even faster. Staying in the comfort zone can be perhaps the most fatal mistake that he can make. For example, earlier the promotional methods for a conventional internet marketing agency included paid reviews, buying advertisement and maybe a few press releases. Hardly did anyone imagine the advent of the powerful social media. Twitter so quickly took grasp of the social media marketing that many quick and smart internet marketers were able to boost their online income 100%. At the same time, many internet marketers who failed to realize the fact that Twitter had taken over the internet marketing techniques with a storm – lost a lot of customers to the new breed of fast learning and quick-to-act internet marketers. Suddenly, they realized with a jolt that old marketing techniques are just not good enough any more. What happened was that, many failed to adapt to the pace of development and shift of power to Social Medias.

Perhaps, the latest rage is the Facebook fan page – small blogs to big corporate are all taking their brand online to Facebook. This can be considered another challenge for many internet entrepreneurs to keep up with the rate at which the internet grows. Becoming an internet entrepreneur is lucrative – but it requires a whole new level of crazy acclimatization to the pace of development online.

What are your thoughts on this? Let me and the readers know below.

About Vivek Krishnan

I am the Founder-editor of Collegefallout.com. I started this blog in 2009, while in college with a lousy internet connection. Today this blog receives over 30,000 page views per month. As a person, I am a wanderer, dreamer and part-time pessimist.

2 comments

  1. I would disagree with you in the point “AN entrepreneur should learn faster and forget even faster”…I think an entrepreneur should learn more and more because knowledge is the thing that he will need to ward of the competition. Yes he should be flexible but yet he should not change his stance, his goal. One needs to be determined if he/she wants to be an entrepreneur

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