An online (or internet) entrepreneur is a business owner who conducts their business – that’s right – online. They’re the people who have come up with one or more online business ideas and decided to walk away from the daily 9 to 5 grind to take a shot at starting their own business venture. But to really get a good idea of what it means to be an entrepreneur, first, we’ll need to understand the concept of entrepreneurship itself.
Entrepreneurship vs. Traditional Business Ownership
A core tenet of entrepreneurship concerns the objective of setting up a business or a set of businesses in the hope of making a profit. Now, before you ask, “But isn’t that the same as being a business owner?”, yes, it is, but entrepreneurs take things a step further. Entrepreneurship involves starting something from nothing or taking an existing business and completely transforming it into something different.
How to become a successful online entrepreneur requires creativity, innovation, and risk, and most entrepreneurs base their efforts on pursuing an idea or striving to realize a dream. To be fair, most business owners who started their businesses were once entrepreneurs themselves, and entrepreneurship as a concept extends to anyone starting a new business.
Back to online entrepreneurs.
What Online Entrepreneurs Do
Online entrepreneurs differ from their traditional counterparts by operating exclusively on the internet. From conceiving online business ideas to launching their business’s website, marketing, selling, and engaging, everything happens online. They don’t need physical stores, warehouse space to hold their inventory, or, in some instances, very many staff members.
Online entrepreneurs can work in almost every business, trade, industry, or environment imaginable and are usually well-versed in the arts of eCommerce, digital marketing, and SEO. They can employ various business models and provide products and services for almost every sector of the market.
Okay, we know you’re itching to learn how much online entrepreneurs can earn. Well, we can’t tell you, and nobody else can either. By the very nature of online entrepreneurship, revenue potential can fluctuate dramatically and, depending on the market you’re looking to work in, can be affected by myriad factors.
According to Comparably, the average American online entrepreneur can make anywhere from $44 000 a year to well over $100 000. Again, this is a ballpark estimate and is almost guaranteed to change in the future. It all boils down to what you’re willing to risk and how hard you’re prepared to work to get there.