Beginner entrepreneurs often fear using internet technologies to run small businesses. One possible reason is the lack of knowledge or experience in using these tools.
This fear may be aggravated by perceived competition and the rapidly changing world of online business.
Entrepreneurs unfamiliar with available tools and platforms may feel overwhelmed or unsure about where to start.
These examples might help you overcome doubts.
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
- Higher Chances of Survival Small businesses that use the internet to sell products or services have a higher chance of survival than those that do not.
According to a study by the U.S. Census Bureau, businesses benefit from the internet:
- With the internet:
Survival rate: 43%
(100% used the internet for promotion) in the first five years of operation. - Without the internet:
Survival rate: 27%
(100% conservative companies that did not embrace the internet).
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
- Higher Profitability Internet marketing can achieve much better profitability than traditional forms of promotion and advertising (if used wisely, of course).
Digital marketing channels reach a larger audience at a relatively low cost:
- Social media
- SEO optimization
- Yandex Direct
- Targeting
- Marketplaces and many others.
There’s nothing more appealing to a small business with a limited budget.
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
- Basic Needs For example, a professional website has become a basic need for any small business.
In today’s digital age, consumers expect a company to have at least a one-page landing page or a business card website. It’s even better to prepare a professional website with information and interactive elements to gain the trust of potential customers.
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
- Customer Communication Social media in the hands of entrepreneurs is a powerful tool for promoting small businesses.
Platforms like “VKontakte” or “Zen” should primarily be used to communicate with customers, understand their problems, and build relationships.
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
- Business Reputation Online reviews and ratings have a tangible impact on the success of small businesses.
- The company becomes recognizable online.
- Positive reviews help grow the reputation.
- Negative reviews, if not addressed, lead to irreparable damage in the form of lost potential customers.
- Reputation is now governed by the internet. Responding to customer reviews and addressing any negative situations is the manager’s direct responsibility.
Internet Technologies in Small Business – The Fear of Beginner Entrepreneurs
Start Small Starting a small business can be a challenging task involving meticulous work and achieving specific goals.
By using the latest internet technologies, you’ll be able to conduct market research, understand the needs and preferences of your target audience, and manage your online reputation through reviews and customer ratings.