Book Review: “Internet Riches” by Scott Fox

“The Simple Money-Making Secrets of Online Millionaires”

This is really the best time to start up an internet business. This past Friday was the 20th birthday of the internet and, after two decades, the world wide web has matured into a technology that has changed the way we live.  Between 2006 (when this book was originally published) and 2010, online retail sales will have doubled (from $172 billion to $329 billion per year). The internet is — at this moment — the single, best opportunity for business success.

Writer Scott Fox, an e-commerce consultant, shows you how relatively easy — and inexpensive — it can be. In the beginning of the book, he lists the difference between the first-year startup costs of a traditional “brick and mortar” retail business and an online retail business. The traditional retail business would cost you between $35,000 and $250,000. How much for an online retail startup? Less than $1,000.

“Internet Riches” reminds us of the big opportunity on the internet: niche marketing. Fox interviews many e-commerce entrepreneurs “from all walks of life”:

** “How Matt makes six figures a year selling top-quality products without owning any inventory or even leaving his house in Spartanburg, South Carolina.”

** “How Geneviere, a recent college graduate, has built a nationwide company by simply creating a website that matches parents and babysitters.”

**”Sid, a former grocery-store meat department manager in a small Midwestern town, who built a major international web-based business around his favorite game: shooting pool.”

Fox has several great examples like these (including some folks who blog for a living). The rest of the book includes good, basic information on how to start up your online business, from acquiring domain names to building easy, basic websites. He also writes about various opportunities, such as CafePress, which we wrote about here.

This book will get your wheels turning, with real ways of turning your expertise or passion into a money-making online business. Check it out: Internet Riches: The Simple Money-making Secrets of Online Millionaires

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