LESSON #2: What is an online business?

By | June 12, 2008

Contrary to what some of the so-called guru’s may say, having an online business is not for everyone. But in order to judge whether it’s a good fit for you, we first must define what an online business is and what it isn’t.

Please watch the following video:

Main points:

  • My personal definition is that it’s a business which is conducted primarily on the internet.

  • A website is NOT an online business.

  • It’s not a job.

  • There may be risk involved, but it’s all about how you perceive it.

  • If you’re afraid to start a business, then you need to either…

    a) get over your fear


    b) decide to be happy with your job, and forget about starting a business

    Action steps:

    1) Answer the following question honestly:

    Do I want to run my own business?

    As always, you are welcome to post your questions and comments below.

    Have a great day!

  • 835 thoughts on “LESSON #2: What is an online business?

    1. Wendy

      Yes. I want to start my own business.I want more money and freedom than just having a job. I want to spend more time with my family and be able to do the things I want to do.

    2. Joshua Mushauri

      I understand your question is really about COMMITMENT. Of course most people would want a cash generating asset (read business) to provide extra cash, but the desire must be linked to an unequivocal desire to invest in the business (time, effort, financial resources etc). Good reflection point for sure!


      Hello Eric how are you today? Yes I want my own business, for the financial freedom it will bring more time with family peace of mind and fulfillment. The aim now is to find the right fit.LW.

    4. Michael Bond

      Hey Eric
      The answer to your question for me would be yes as I ran an offline engineering business for over 10 years but due to some major challenges I decided to close it.
      At the same time I ran an online business on and off for about 2xyears but made a decision to focus on the offline instead of the online.
      The investment of time is far less than the offline and you can get started while you are working your job.
      For me the answer is an emphatic yes as I want to work smarter and not harder, also working hard at your job these days means longer hours for someone else to benefit from.
      I am keen to peruse the online avenue as it is the way forward for me.


      Yes i like to have my own online business , being totally independent and NOT being controlled by anybody
      Knowing fully well that as much as i put in determines my results.

    6. Brian Schafer

      Eric I would love to have an online business so I can reach my financial goals in life while spending more time with my family.

    7. Fred W Lachenman

      Yes, I want my own business, and I understand there are risks to it and that it is not a get-rich-quick scheme or something that will happen overnight. Running a business takes time to establish it before you make any income from it, and I want to do this being I am retired from a career job to help supplement my income and learn new things.


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