Statistics of Internet Users (2009)

Look at the graph of Internet Users In The World By Geographic Regions (2009) published by INTERNET WORLD STATS; it is astonishing how big the internet, specifically the World Wide Web, has grown since it was invented by Tim Berners-Lee in March of 1989.

Slicing and dicing into Singapore, here are the stats:

Population (2009 Est.): 4,657,542
Internet Users (Year 2000): 1,200,000
Internet Users (Year 2009): 3,370,000
Penetration (% Population): 72.4 %
User Growth (2000-2009): 180.8 %
Users (%) in Asia: 0.4 %

Look at the two figures in red. I don't know about you but my jaw dropped when I saw these figures! It is just amazing how the world has evolved within these 20 odd years or so, along with the dot com crisis and the numbers of successful IT companies that have emerged since (think Google, Amazon, eBay, PayPal, YouTube etc). Of course, many companies have come and go within this period as well.

Singapore internet users penetration is higher than Hong Kong (69.2%), China (28.7%) and surprise, surprise, Taiwan (65.9%)! We are only a few percentage points below Japan (75.5) and South Korea (77.3%). Historically, we are always slow on picking up new things but when we start, we start off with a boom! Our e-commerce industry is very much lacking below many countries but take my words for it, it is going to take off soon given all the promising signs that I am picking up.

Home Based Business - Products vs. Services

When considering a home based business to earn extra income from home, it's important to understand the difference between service based companies, and product based companies. This article will help you to decide which one is more suitable for your needs.


Service Based Home Business Opportunities:

These types of distributor opportunities come in all types of services including; communications, web based services, legal services, insurance services, home security, and so on.

Most work at home services typically offer people a lower rates to a service you already use at home, or at work. They are able to offer lower rates because the company is able to offer a huge group plan that is determined on the number of people using the services.

Pros:

* - Lower rate services
* - Better insurance, legal, or protection service plans
* - Everyone uses these services
* - No need to explain what the service is for

Cons:

* - Switching people is not always easy depending on loyalty
* - Some services are extremely technical
* - A great deal of time is spend on educating people
* - Some services are not always a better deal
* - You will need to use all the services yourself

I've personally had experience with a service based company that offered cheaper long distance rates, pager rates, etc. The problem I noticed is that not a great deal of people were willing to switch their existing provider due to years of company loyal, and the quality of services. In some cases as well, people needed a great deal of technical information that required extensive industry knowledge on my part.


Product Based Home Business Opportunities:

Here you will be required to use, and promote some form of product. Whether it be health drugs, vitamins, juices, entertainment equipment, water filters, beauty products, and so on.

Many product based companies offer specific industry products that are common household items that everyone can use. Some products are very specialized which gives you access to a smaller market. There are other products that are so cutting edge, you can't buy these products anywhere else thus giving you a unique product that people want, like, and talk about.

The key with products is to go with an industry that is high in demand like the health industry, and to also find a product that is extremely unique not found on shelves within super markets.

Pros:

* - Everyone uses the products
* - Most products are cheaper than in stores
* - Convenient home delivery
* - Revolutionary advances within the industry
* - Not found anywhere else
* - Gives you a discount on everyday purchases
* - Sometimes easy to sell

Cons:

* - You must use the product
* - Your team will have to use the product
* - Sometimes have a required monthly sales minimum
* - Some products are not that great
* - Not everyone may be able to sell the product
* - Some products can be expensive

Products can either be easy to sell with a high re-buy rate, or products may be extremely expensive that are reliant on distributors to use themselves.

The key is to partner up with companies that offer products which are in high demand and have a unique twist within the given market. This will help you to easily sell to people. Many people will buy into a product based company if the costs and monthly requirements are not too high.


What Do I Recommend?
I've personally worked with both products and services and have found that products can be a lot easier for people to sell to their friends and family. Again, it's entirely up to you, but just make sure to get into a business that is easy for you to believe in, promote, and tell others about.

http://www.martinlemieux.ca/posts/?blog=66

"The product businesses usually offer a better chance of leverage and scalability. But you have to invest more too, and if you go down, you lose more. Its really up to you."

Initial Thoughts

The world is integrating through globalization, and what is a simpler, cheaper, better way to promote your thoughts, your ideas, your business to every corner of the earth that has access to internet than the internet itself? E-commerce is growing at a frenetic pace, and it will be undoubtedly the way of doing businesses in the future.

Many countries have ventured into online business with success; take US and Taiwan as good examples. China is picking up and projected to be the powerhouse of e-commerce in the near future. The China Internet Network Information Center said the number of internet users in the world's most populous country jumped 28.9% in 2009 to 384 million, which is more than the entire population of the U.S. Imagine the potentials you are exposed to by adding in e-commerce platform to your business?

In Singapore context, we are lagging far behind many countries in terms of market size and scope. The interesting thing is that with the 2008 statistics from iDA, compiled by Department of Statistics (DOS), 80% of the population has computer access at home, and 76% of the population has access to internet. Singapore's population is nearing 5 millions, so do the math yourself. Yet the e-commerce penetration is still very low, why?

In my opinion, consumers here are still skeptical doing shopping online. The fear of credit card frauds, inferior products, dishonest companies, missing shipments just to name a few are the biggest deterrents. I will share more regarding this topic in my further posts, backed by my own experience. Nonetheless, sooner or later, Singapore is going to board the flagship as well and this is definitely a good thing to start.

My vision for this non-profit group is to raise the awareness of e-commerce, and to help, as well as guide aspiring entrepreneurs in Singapore the way of doing businesses the e-commerce way. Anything from incorporating with ACRA and the documentation, to deciding between e-commerce softwares, to domain and hosting selection, to accounting methods and many more other issues associated.

I hope that as this support group grows, more and more successful entrepreneurs can join in to provide advices for new SMEs and work together to eliminate the fear of the consumers here in Singapore. It can be overwhelming with the complexity and dynamics of e-business, and hopefully through this group, i can providing those with the passion and determination to be successful the advices and guidance.

Many people has the inspiration to start a business, but only a handful have the courage to actually do it and an even smaller percentage will be successful. Let's learn together.

Please feel free to email me at edmundshen@gmail.com and i will do my best to answer your queries.