Internet's barriers of entry, already fallen?

[Ana]

"The Internet is the best Fastlane available, because it immediately obeys the Five Commandments to the Fastlane, [...] its barriers are still strong enough to prevent “everyone” from entry."

(From The Millionaire Fastlane book)
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I think that the Internet's barriers of entry have already fallen.
Right now I already feel like "everyone" is making an internet business.
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What do you think?

 

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[Mbc]

Lower than 5 years ago for sure. Definitely wouldn't worry though. International connection is still growing

 

[juicemania]

I think it all depends on the type of "internet business" your creating.
Personally, I still feel its the best way to go.

 

[theag]

The internet is just a channel. It doesnt have anything to do with barriers of entry.

You seem to overthink it. Just start.

 

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[Jake]

The internet is just a channel. It doesnt have anything to do with barriers of entry.

You seem to overthink it. Just start.

This this this..

Internet is just the channel with the maximum reach. Low picking fruit may be saturated but it is still the best way to reach a global audience..and probably even a somewhat local audience for that matter.

The internet is simply a line of communication that is highly accessible.

 

[wade1mil]

It's constantly evolving.
I use to build websites with Notepad. Now WordPress makes one for you in 3 seconds.
What had a high barrier to entry five years ago has a low barrier to entry.
Same thing will happen in five years. Ten years.

 

[Ninjakid]

Here's an alternative perspective: what if because everyone is making internet businesses, the quality among internet businesses in general is diluted?

When something is rare or unusual, it becomes more valuable.

So most of the Internet businesses that exist aren't very valuable because the market is saturated with them. The chances of an Internet-based startup being worth millions today is thousands to one.

But let's say you create something unique an beautiful, and there's nothing else like it; are the other websites really your competition? Or have you created a niche that's very much your own?

There are many horses, but try finding a unicorn.

 

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[Maxjohan]

The Internet is still a goldmine. Doesn't matter that entry is low. Most still want to have a normal job.

And many fail on the Internet too because of dilusional expections and so on. Like, they think money will just fall in to their knees. And they don't have to work much at all.

So, I wouldn't be too worried at all. At least not now. Maybe 10-20 years from now it's different.

I don't know.

 

[Phones]

Some years ago all you needed was a crappy website and to shot some crappy offer to an e-mail list.

Start a store, get some ads, you'll probably fail? Why? Everyone can start a shopify store these days. The customers now need social proof, reviews, feedbacks, they won't just enter a website and type in their credit card.

Customers evolve with the markets, and as the markets evolve, new barriers come.

 

[GreatestManEver]

"The Internet is the best Fastlane available, because it immediately obeys the Five Commandments to the Fastlane, [...] its barriers are still strong enough to prevent “everyone” from entry."

(From The Millionaire Fastlane book)
-
I think that the Internet's barriers of entry have already fallen.
Right now I already feel like "everyone" is making an internet business.
-
What do you think?

I think the barrier is a little lower, because of all the millions of new people who learned to code, and got on the net to create business. At the same time I remember how the internet was 16 years ago, getting on AOL using a 56k dial up, the internet will be as different in the next 5 years, as it was 16 years ago, where there is great change, there are great opportunities of wealth to be made, billions of new people will get on it in the next 10 years, from the 2nd and 3rd worlds. There's a lot of money to be still made on the internet, I think it's still one of the best places to make money.

 

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[The Grind]

You know what the barrier of entry is for internet business's?

Starting today and working on the business everyday for the next 10 years.

Internet is just a channel, a very good channel, doesn't matter what your doing, its the consistent work, the process is where the barrier lies.

 

[CommonCents]

the net is pretty much required for any type business.

 

[100k]

One could argue that everyone starting an online business is a form of barrier because in order to stand out from the coward you will have to do something exceptional - which most people won't be able to do or will be too lazy to do.

 

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[Mattie]

Is there really a barrier? There's only a barrier if you believe there is one.

 

[Kuda]

One could argue that everyone starting a online business is a form of barrier because in order to stand out from the coward you will have to do something exceptional - which most people won't be able to do or will be too lazy to do.

Thats exactly the point in every channel there are always barriers of entry. In most cases when the barriers of entry are high, the pay off is usually high. Most people won't be able to replicate what you did.

 

[AntEmpire]

The barrier is low for people who know what they are doing and high for those who don't.

"Knowing" what you are doing really starts with education and this is where many people fail, because they want instant success without any of the work.

Out of all the educational processes I have experienced in my life (elementary, high school, undergraduate, graduate), the Internet is by far the easiest, most accessible and the most fun, and yet people still complain it's too hard.

I think as long as you stay learning, low hanging fruit will never be out of your reach.

 

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[MakeItHappen]

Right now I already feel like "everyone" is making an internet business.

And how many of these people are succesful let alone fastlane? 0,01%?

It depends on how you define an internet business.
Sure everyone can start his own wordpress website, put an affiliate link on it and call it an "internet business". But these people won't be any real competition.

However, creating a real fastlane business still has and imo always will have a high barrier of entry. Why?
Because it takes a lot of hard work and persistence which is one of the best barriers of entry.
Most people who start an internet business do it because they don't want to work hard and strive for a 4-hour work week LOL.
This can hardly be called competition.

Building an awesome conversion and sales funnel with a create back end is a lot of hard work and takes a lot of skills that have to be acquired. The barrier of entry for creating a real internet business with a very high customer lifetime value is and always will be very high.

 

[wade1mil]

The barrier is low for people who know what they are doing and high for those who don't.

This is a barrier. Knowledge.

 

[beatgoezon]

But let's say you create something unique an beautiful, and there's nothing else like it; are the other websites really your competition? Or have you created a niche that's very much your own?

Well said! That's really what I believe not just about the internet, but about mostly any market! I've noticed as a new market opens up, it usually means more and more people crowd it with low quality products/services, but if you can stand out with something with higher quality, perhaps you can be that small odd that makes the difference in the market... Not very experienced with this but that's my 2cents

 

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[Journey2Million$]

Almost no one on other forums will even consider trying to make money on the internet, just like they won't consider starting any kind of business. It is well outside their mindset. It's common for people to whine about "the economy" and how tough it is to get a good job but they won't even consider a business or internet business of their own. Then out of the people who do try to make money on the internet, as far as I know most of them suck at it and make little or nothing. I don't think you need to worry much about competition. If you are extremely good at what you do and if you're hard working, then you can make plenty of money. You just need to rise above all the people who do poor quality or mediocre work.

 

[RHL]

It's constantly evolving.
I use to build websites with Notepad. Now WordPress makes one for you in 3 seconds.
What had a high barrier to entry five years ago has a low barrier to entry.
Same thing will happen in five years. Ten years.

Pause for a second, here's something to take note of...

When MJ says "sell shovels" this is what he's talking about. "Selling shovels" means lowering the barrier to entry or facilitating entry for other people. It's hard to mine gold with your hands, meaning high barrier of entry. It's easy with a panning machine or a pickaxe.

So Wade is 105% correct, but it's worth noting that every time the barrier to entry drops by a foot, somebody makes BILLIONS selling shovels to people who were either too busy or too lazy to take the long way over that higher barrier.

So yes, the barrier to your competition is always coming down, but at the same time, people bringing it down are making epic bank. Think how hard it used to be to find stuff on the internet. The people who made it easy made billions.

Worrying about being behind a barrier makes you good money.

Lowering a barrier for everybody makes you BIG money.

 

[wade1mil]

Lowering a barrier for everybody makes you BIG money.

Very nice!

 

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[Rick88]

Barriers of entry:

• takes a while to get started.....franchising
• lots of competition upon entering
• creating a fastlane business from scratch
• creating something different or unique

Then there's the process...failures, the work, resistence, sacrifices, etc.

All in all the barriers to some models probably have fallen. If everyone is going there then you don't want to be where the sheep are flocking.
But other models are still strong enough.

Looking at the whole big picture though, the process weeds out the weak and the meek and the lazy. So if you can preservere while they drop and you can be better than what's left competition wise...your gold.

 

[Rick88]

"Lowering a barrier for everybody makes you BIG money."


Priceless man!

 

[Rick88]

So...find a high barrier of entry = NEED /problem to be solved

 

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