The internet has transformed the way many people do business. Twenty years ago the internet did not even exist and now if your high speed broadband connection is down you feel unconnected to the world, as if something is not complete in your life.
All big businesses now need to have a web presence not only to market their products but also to create brand awareness. Distance no longer matters in many types of businesses. The world is your oyster but this also leads to more competition as somebody overseas can provide the same service but at a potentially lower price.
Communication is so quick and easy on the web that great new products spread like wildfire as people blog and chat about them on online forums.
Buyers have more power now to compare prices before they shop in their high street shops. Many do their ordering online and avoid the retail outlets completely. I always check online prices before making a decision where to buy.
Lead times are getting shorter as big companies fight to deliver your order within a couple of day for today’s just in time society.
All the major manufacturers and retailers conduct business on the web. Some huge companies like Dell only sell their computers through their website. They have abandoned the normal retail channels completely.
Recently, in the last thirty days I have purchased a new mobile phone (next day delivery), a new computer (delivery within 4 days built to my specification) and purchased some airplane tickets (delivery instantly via email).
Did you know that the largest online retailer in the UK is Tesco?
Social networking sites are all the rage now. People no longer need to leave their home to interact with family and friends. Not only are they keeping in touch with people close to their hearts they are also building relationships which are just as strong as people they meet in real life.
So whether it’s employment, business or socializing – the internet is here to stay.
The real internet explosion is happening now – not ten years ago as most of the pundits had predicted. Many people assume that everything that could have been created has been made and that the opportunity to exploit and do business on the web is now over.
Far from it! Over the next twenty years we are going to see new giants emerging… companies that have not even been born yet. This is the fastest moving medium and also offers the most opportunity to young entrepreneurs.