June 16, 2008

INTERNET RICHES for Indian Entrepreneurs - I

With Internet growing leaps and bounds in India, the number of online opportunities for entrepreneurs have also grown as well.The growth of internet penetration in India has opened up new doors for Part-preneurs [My terminology for a person who is yet to completely take the entrepreneurial plunge but works on his venture part-time so that one day he can pursue his dreams full-time].

To tell us more about these opportunities, there would have been no better person than Scott Fox, more about him below.

About Scott Fox:

Scott Fox is the Author of Internet Riches, the worldwide best-selling guide to how anyone can use the Internet to start their own business, even without much money or technology. He blogs and offers free email newsletters about e-business success, entrepreneurship, and online marketing advice on his website.
This article is divided into two parts so, without much wait, let us see what Scott has to say about India and opportunities for Indian entrepreneurs online.

Note
:
"I" in the article refers to Scott Fox.Before we start, my heartful thanks to Scott for being a guest writer on ThoughtsPrevail.

Internet riches for Indian Entrepreneurs - I
Today the Internet offers to Indian entrepreneurs even more potential for e-commerce success than was available in the U.S. in the 1990's.

The waves of broadband penetration and low cost e-commerce tools that led to mass adoption of the Internet in the United States are now reaching Indian shores. Although millions of Indians have been online for years, millions more are just beginning to gain access to the global digital marketplace. Most are still connecting at dial-up modem speeds but broadband penetration in India doubled again in 2007. And while the early adopters of e-business in India mirror those of the U.S., these waves have also broadened their reach during the time and distance they have traveled from the U.S. to India to include more people, more kinds of people, and new platforms like mobile phones.

Its huge population alone suggests that India should be an economic superpower. Usually this massive population is viewed as a potentially profitable consumer market to be exploited. I would prefer to see India's people as a massive natural resource that smart entrepreneurs can leverage to achieve huge financial success. Current challenges in providing basic services like electricity and water will be overcome, and India's astounding continued economic growth rate offers major opportunities to a new wave of Indian e-commerce start-ups today.

At least 5 factors[with two mentioned in the next article] will combine in India to create exciting new markets and unprecedented millionaire-making opportunities for a new generation of Indian entrepreneurs.

1. Capitalism without Capital:
The low cost of entry for starting a business online is unprecedented. The costs of a PC, broadband connection, and especially the education to put them to work remain significant obstacles. But these foundations of e-commerce success are still so much less expensive than erecting a bricks-and-mortar business that small business ownership is increasingly within the reach of millions who have not fully participated in the economy previously.

2. Low Risk:
Because the e-business revolution so reduces the need for start-up capital, it is much less risky. By starting small online, millions of new Indian entrepreneurs will find that they can build their own businesses without leaving their current jobs, mortgaging their personal assets, or otherwise unduly risking their futures. This ease of market entry introduces increased potential competition but also allows rapid product development iteration, customer feedback, and online market testing to accelerate the success of winning ventures.

3. New Local Market Innovations:
Internet-delivered local services and advertising are sure to spread in India even faster than they emerged in the U.S. Years of U.S. and EU innovation in web site and mobile phone-based services will benefit localization business efforts by Indian entrepreneurs, helping them speedily deploy new tools [whether invented in India or imported] to profitably serve their vast domestic market.

I hope that you found insights from Scott useful as well as interesting.You would find the continuing part in the next article.

Reader Contribution:
Get updated Motivation Quotes by Scott Fox using this Google Gadget by Manish Panchmatia

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7 Comments:

At Jun 17, 2008, 3:03:00 PM , Blogger Alok said...

Himanshu, that’s really quite informative article and I can see why Internet is taking the next step forward and importantly where. You are always a great SOI (Source Of Information) thanks for making me understand the more so popular aspects of Internet and the business that can be associate with it. The best thing that I also noticed about Internet is that the accessibility and the ease of developing products. And I need not mention you just required the minimum physical space around you to start with your idea.

I am glad to see Scott Fox’s comments on India. Thanks Scott.

Finally, again thanks to you Himanshu for the effort you’re putting to make people understand the importance to start with Startups :)

Keep it up.

 
At Jun 18, 2008, 10:48:00 AM , Blogger Himanshu Sheth said...

Hey,
@Alok:
Thanks very much for the comment.Yes,definitely Internet has opened up new opportunities.Remember,I also tried to do something part time after office hours and this much flexibility only Internet can give you :) IMHO,Learning Curve is also less.

Yes,all the things are hosted on the server so,we just require few people to start with :)

Thanks for mentioning me as SOI :)We should thank Scott for sharing his view on India.

-Himanshu Sheth

 
At Jun 29, 2008, 10:43:00 AM , Blogger Manish Panchmatia said...

Hi Himanshu

I follow few links on this article and came across a nice website http://www.365motivationalquotes.com

A person like me, will not visit such website daily to read just one quote. So I developed a Google gadget for it

Here it is:
http://www.google.com/ig/directory?url=hosting.gmodules.com/ig/gadgets/file/101127865637231588145/MotivationQuotes.xml

This will fetch the updated motivation quote by Scott Fox daily.

If you like it, then you can put it on your blog.

Manish
http://www.geocities.com/panchmatia_manish

 
At Jun 30, 2008, 5:29:00 PM , Blogger Himanshu Sheth said...

Hey,
@Manish: The gadget is quite nice and have added the same in the "Reader Contribution" section of this article.

-Himanshu Sheth

 
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At Mar 10, 2009, 2:58:00 PM , Blogger Bruno UK said...

It couldn't last forever?and it didn't. Finally, scores of e-businesses that once enjoyed astronomical capitalization in spite of their vague business plans, modest sales, and absence of profits have been called on the carpet. The experimental first era of e-business is over and now its time for the next, when companies will deliver customer value and make a profit or disappear altogether. http://www.infyecommercesolution.com/

 
At May 9, 2009, 10:09:00 PM , Blogger workhard said...

This is an informative article.. Internet marketing is cost effective.. its just thta people need to get the knack ofit..

Haiku

 

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