Surreal Entrepreneur

On my way to work this morning I was pondering what the implications of me reverting back to a “dumb phone” would be. “Dumb phone” as in not a smart phone, no apps, no internet connection, just a good old fashioned texting, calling phone, with a calculator and possibly brick breaker. It has been about 3 years since I made the switch but sometimes I feel plagued by the necessity to always be plugged in. But I do realize how much more convenient/languid it’s made my life. Now I have the ability to find directions from and to almost any place in the contiguous US. Also I have the ability to directly price shop while looking at one product in a store and comparing prices against hundreds of stores simultaneously. Also, I have the ability to run my own online business from the convenience of the palm of my hand.

Online storefronts are revolutionizing business. Think about purchasing products at a wholesale price and selling them at a retail price, but cut out the rent, insurance, maintenance, sales staff, signage, and store hours. This allows a single person to own and operate a rent free store alone.

When I was 17 my parents extended me my first angel investment loan of $1000. I took this money, established a relationship with a Chinese clothing producer. I purchased a bunch of imitation jackets that were in style and sold them on ebay (as imitation products). I was paying about $31 per jacket including shipping. I was selling these jackets for anywhere between $50 to $270 pushing my total profit to about %150 of what I was initially loaned. Not only was this one of my first real entrepreneurial pursuits  but it has been a lifelong hobby so far, leading to many more sales on ebay and a lot of fun!

Now the negatives can be numerous also. Suppose that you purchase a bunch of products upfront that don’t end up selling and you take a loss. You also have the possibility of your products getting lost in transit. Online fraud and identity theft might plague you. There are a myriad of reasons that Online shopping also might not fit into your lifestyle. Maybe you don’t want to be looking at your phone/computer all day every day to coordinate shipping schedules for sold products. The online storefront is also a little daunting to get into. There are technology barriers to break and also advertising costs can become difficult.

So to wrap up, online storefronts and businesses can be  very useful as a breeding ground for ideas and experience. They allow you the opportunity to start a business for the cost of the website and the products instead of having to turn the lights and water on as well. You can reach a global audience instead of having to do market research and fit your product into just your local community. But it can also be a risky decision if you are not prepared and secure with your transactions. Overall, make sure that this type of business fits into your lifestyle and life goals.