Income for Internet store managers and entrepreneurs is usually tied to the profitability of the business. Internet store managers who work for established traditional businesses are typically salaried employees of the company. Internet entrepreneurs who offer a service may be paid by the project. Entrepreneurs are self-employed and their income will depend on the success of the business. Those just starting out may actually have no earnings, while those with a business that has been existence for several years may have annual earnings between $25,000 and $50,000. Some in the field may earn much more than this amount. Those who have good technical skills and can do such things as create the database program for a website may have higher salaries, in the $60,000-$125,000 range.
Entrepreneurs are almost always responsible for their own medical, disability, and life insurances. Retirement plans must also be self-funded and self-directed. Internet store managers may or may not receive benefits. Internet entrepreneurs and store managers may work out of a home or private office. Some Internet store managers may be required to work on-site at a corporation or small business.
The entrepreneur must deal with the stresses of starting a business, keeping it going, dealing with deadlines and customers, and coping with problems as they arise. They must also work long hours to develop and manage their business venture; many entrepreneurs work over 40 hours a week. Evening or weekend work may also be required, both for the entrepreneur and the store manager.
In addition, these professionals must spend time researching, reading, and checking out the competition in order to be informed about the latest technology and business trends. Their intensive computer work can result in eyestrain, hand and wrist injuries, and back pain.
The Future of E-commerce
Online commerce is a very new and exciting field with tremendous potential, and it is likely that growth will continue over the long term. However, it is important to keep in mind that the failure rate for new businesses, even traditional ones, is fairly high.
Some experts predict that in the next few years, 80-90 percent of dot-coms will either close or be acquired by other companies. The survivors will be small businesses that are able to find niche markets, anticipate trends, adapt to market and technology changes, and plan for a large enough financial margin to turn a profit. Analysts also anticipate that the amount of business-to-business e-commerce will surpass business-to-consumer sales.
Internet managers and entrepreneurs with the most thorough education and experience and who have done their research will have the best opportunities for success. For those who are adventurous and interested in using new avenues for selling products and services, the Internet offers many possibilities. The Bureau of Labor Statistics predicts that the top four fastest growing occupations through 2010 will be computer related.