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Thriving Businesses Need More than Capital

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Being your own boss and striking out into the world of online entrepreneurship is certainly a lucrative opportunity, but many people seem to be operating under the false pretense that you need an enormous amount of cash just to get to the starting point. Admittedly, a decent sum of startup fundingis certainly beneficial, but the reality is that one of the best foundations for business is the founder’s hard work, skills and dedication. This means that in addition to whatever startup capital a business has, it also thrives on:

Passion

Starting a business to make money is all well and good, but embarking on a new business venture to grow wealth and pursue and fulfill a passion is even better. The most successful business owners start with what they know and love, and that passion usually shines through their product.

Internet Savvy

A website by itself won’t cut it anymore. To truly succeed online, entrepreneurs need to understand how social media, search engines and service marketplace websites influence the ebb and flow of potential customers. The Internet is a big place, and a business doesn’t have to be in every corner, but there’s certainly plenty of room to spread out.

 

Networking Skills

Now that a business has a presence in a number of places online, it’s time to get the conversation going. There may be few greater turn-offs to potential customers than an empty Twitter feed or an abandoned social media page. The Internet is more than just host to the business, it is also the platform to connect with other entrepreneurs, suppliers and customers.

Instead of waiting until startup capital hits an unimaginable number, entrepreneurs and business owners who have not only survived but thrived in the online business world understand that it takes more than money to build a business.

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