Modern-day means of communication and mobile technologies offer unlimited opportunities for devoted entrepreneurs who want to start a new business and are acquainted with methods of how to make money in a fast expanding online environment. Virtually all medium and large enterprises on a global scale utilize new social media and other online channels to boost sales; nevertheless the world of online and mobile merchandising is still underdeveloped and its worth is estimated at billions of dollars in online sales worldwide.
Making money has always been a challenging task in a liberal economy and few things have changed since the times when modern democratic societies were established in the West, except for the adoption of stricter rules for making business. Entrepreneurship is one of the pillars of the modern societies but governments were taken by surprise by the rapid development of numerous online businesses and failed to react adequately in terms of adopting proper regulations for online services.
Such a situation has left enough room for entrepreneurs to maneuver in search for lucrative online business opportunities, while numerous businesses have risen rapidly and then vanished, unable to cope with the specific demands of an online business environment. A good number of traditional merchants, like some brick-and-mortar book stores, managed to develop successful online businesses, nonetheless the overwhelming majority of current online market leaders emerged as start-ups only a decade ago.
The pace of growth of the online market is tremendous and hundreds of new online start-up companies are established daily all over the world, while most of them, unfortunately, are not destined to prosper and evolve into lucrative businesses over time. A new environment introduces new requirements while customers are demanding a new level of service and rapidly get used to enjoying benefits offered by mobile technologies and countless online services.
The mobile apps market alone is estimated at billions of dollars in annual sales, and is growing, but an in-depth industry analysis shows that only one in ten, or less, mobile apps developed by tech start-ups is successful in market terms. Thus, making money is still mainly a matter of entrepreneurial spirit and skills and having a good business idea and tech skills is not a decisive factor when the matter in question is to sell a new service or product to demanding customers.
Myriads of books on making money online have been published in the past couple of decades, with many of the authors focusing on tips and tricks to attract customer attention. A few of those authors, however, admit that one should not enter the largely uncharted waters of online business if he or she lacks entrepreneurial spirit that characterizes new market pioneers. Obviously, the rapid emergence of new technologies provides numerous business opportunities and search engine companies piled billions of dollars within a couple of decades, many authors say. On the other hand, most of the theorists avoid acknowledging that behind the success of a single tech giant there are the failures of dozens of start-ups that entered the same niche at the same time but did not manage to cope with the fierce competition.
Actually, most successful online businesses have been established and developed by entrepreneurs that would have been successful in any other business environment for they simply know how to make money; therefore, it is important to familiarize yourself with basic methods of how to make money and the basics of economics before starting an online business.