The Advantages and Disadvantages of an Internet Business

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AN ESSAY ON THE ADVANTAGES AND DISADVANTAGES OF AN INTERNET BUSINESS Researched and Prepared by Jeffrey C. Bado The California Gold Rush began officially on January 24, 1848 when gold was found by James W. Marshall at Sutter’s Mill in Coloma, California. Initially gold nuggets could be found scattered on the ground. Eventually more and more sophisticated methods of discovering gold were devised as the obvious supply of gold became more elusive. People came from around the world to prospect for gold. They were called “forty-niners” as a reference to 1849. However, the “early responders”, people more geographically proximate to the gold, generally fared more profitably than the adventurous person from afar. The effects of this “Gold Rush” were both positive and negative. Many became very wealthy, San Francisco grew from 200 residents in 1846 to 36,000 by 1852, and roads were carved through California’s back country. However, most people returned home with little more than they had started with. The Internet today could be the modern equivalent of the “Gold Rush”. The first message was sent over the ARPANET (US department of Defense packet network system) from computer science Professor Leonard Kleinrock’s laboratory at University of California, Los Angeles to the second node at the Stanford Research Institute. Commercial Internet Service Providers began to emerge in the late 1980’s and the “Internet Gold Rush” began. So perhaps you are the adventurous type who is thinking about “prospecting” with an Internet business. The purpose of this essay is to suggest several advantages and disadvantages to “prospecting” on the Internet (setting up a business). To help you remember what I am going to teach you we will use the proverbial David Letterman “Top 10” rubric (only we will use 5) enumerating at first the DISADVANTAGES followed

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