Online Business: The Building Blocks

Author: Darren Scott Monroe

This recession has dished out huge helpings of pain. Business models have cracked and jobs once thought secure have vanished in a flash. The question on millions of people's minds: "What now?"

Now for the good news: Amid all the tumult, a new crop of courageous (if thinly capitalized) entrepreneurs will strike out on their own. For many in the information age, that means setting up shop on the Web.

I know a lot about making that transition. In 2005, after spending 15 years as a marketing professional for big media companies like Universal, DreamWorks and Clear Channel, I decided to pursue my dreams full time as an online entrepreneur.

Four years later I've launched more than 60 educationally focused Web sites that generate a variety of revenue streams (advertising revenues, membership fees and product sales). A majority turn a profit, while others are still incubating. The company is entirely bootstrapped--meaning there are no outside investors, which also means a lot fewer headaches.

I've taken my fair share of lumps too, which is why I know that new entrepreneurs need a helping hand. (Truth be told, they need about 10 of them.) My new column, "Company of One," will address the challenges of starting an online business with minimal resources while getting maximum results.

There's a lot of noise out there about how to go about this. I'm going to filter it and give you what you need based on real-world experience--not fancy theories chocked with empty consultant-speak. My goal: to save you cash, time and energy.

Here's why I know it's a great time to start an online business:

--The start-up costs are low, and with advances in technology, getting lower all the time.

--Worldwide demand is huge: There are now 1.6 billion people on the Internet (nearly one out of every four people on the planet).

--The Web is infinitely scalable: You can add as many store fronts (Web sites) as you like at minimal marginal cost.

--Search engines are only getting better, meaning that getting your message out will only get easier.

I'm going break down this world for you, from soup to server. Future columns will cover site design, e-mail marketing, customer-conversion strategies--everything you need to get started on and make money with the Web.

You can fear the future or you can sprint toward it--online, and on your own terms.