| No one can dispute the impact of the internet on | | | | a basic grasp of this concept, but I am going to |
| the global community. Some may even say it is | | | | illustrate a new twist on this principle for you. |
| what has made us a global community. Today | | | | E-books and E-products allow you to do |
| consumers base many of their purchases around | | | | something no other business permits, and that is |
| sites like E-bay, or even brick and mortar store | | | | to allow you to oversell any possible amount of |
| websites. And, these developments have all come | | | | supply you could have. That is, when you create |
| within the last few years! It really is quite | | | | an E-product, you can never run out of the |
| fascinating to think about. | | | | supply, so as long as demand is there you will |
| It doesn't stop at any one facet of our lives | | | | continue to make money. |
| either. The internet has completely infiltrated our | | | | Since we have complete mastery of one of the |
| lives to the point that we are focusing our | | | | most important dynamics of market basics, then |
| business and financial lives around web based | | | | the other governing principles are easy to control. |
| businesses. This will, no doubt, have an effect on | | | | In short, as long as you are a good marketer, |
| how we are employed as well as how businesses | | | | you can control your own business and financial |
| are established. I remember when there was no | | | | destiny. That is even too complicated a way to |
| Yahoo or Google, and computers were primarily | | | | put it, because all you really have to know is how |
| glorified word processors and really couldn't store | | | | to find people who are good at marketing and |
| any information on the CPU. Now vast libraries are | | | | agree to pay them to sell your products with no |
| stored and analyzed without human involvement | | | | upfront costs to you. |
| at all. To say that the wave of the future is web | | | | If you think of the typical business model, profit is |
| based business is a foregone conclusion. My | | | | driven by maintaining a minimal margin. If this |
| question to you is, are you working for one, or | | | | margin isn't maintained, your business will fail, as it |
| are you building your own? | | | | happens hundreds of times each day. A typical |
| Informational products are really the key to | | | | business model includes such things as building |
| establishing your own online business presence and | | | | rent, electrical bills, water bills, employee payroll, |
| credibility. If you cannot put what you know into a | | | | inventory purchased, and warehousing costs for |
| usable and transferable format, you are dead in | | | | unused inventory and on and on. |
| the water. Today information travels around the | | | | The modern business model, based on the |
| world at something approaching the speed of light, | | | | internet, will not need brick and mortar structures |
| and if you do not focus your business endeavors | | | | to house it. It will not depend on inventory safely |
| to being there when it counts, you will be left | | | | stashed and idle in a warehouse. It will not depend |
| behind. | | | | on a negligible margin to ensure another day of |
| I am from a real estate background, specifically | | | | potential profits. The conventional business model |
| real estate development. There is a common | | | | is a race to the bottom to see which competing |
| phrase used in real estate investing calculations | | | | service or goods providers is most desperate and |
| and it is supply vs. demand. Everyone has at least | | | | will discount the most to get the business. |