Transcripts

Scott Fox:
Yeah, that's a common misconception - right now is actually one of the best times in history to start a business. The Internet offers opportunities for small folks to get in and get their feet wet cheaper and easier than ever before.

Scott Fox, author of the book Internet Riches, says the tools you need to start an Internet business today have gotten very inexpensive.

You can set up a website these days and set up an e-commerce shopping cart for literally twenty-five dollars - and the chance to do that means that you can reach such a wider audience - and also a more targeted audience that the equation is different. For example in your town, you might be interested in Egyptian pyramids or spoon collecting or Australian - rules football - any of those things that used to not be large enough to aggregate their own audience. Now you can reach exactly one person in every town across the world and still aggregate an audience of millions.

Scott is quick to point out that making money on the Internet is not a get-rich-quick scheme.

You still have to have a good idea and you still have to be willing to work hard - and if you do that you'll find that other people with similar interests will find you. There's a young woman named Genevieve Thiers - she was a babysitter, she had six brothers and sisters, grew up babysitting. By the time she got older she realized that there was a real issue - that parents in the suburbs couldn't find young college women who wanted to do babysitting for them. She put up a website and started brokering essentially relationships between them - it's now a multi-million dollar business in twenty cities across America.

Tomorrow more ideas for creating a successful Internet business - I'm Mike Carruthers and that's Something You Should Know.