Can the Internet Level the Playing Field for Aspiring Entrepreneurs?

A common theme among aspiring entrepreneurs is that they possess as many ideas as stars in the sky. You and your business partners spend countless hours preparing a "package" that you can show people in hopes that they will think your idea is great and will want to help. You and your business partners planned and thought of every possible, microscopic detail. You are very proud of your idea and your work, however, you soon realize that a big monetary investment is necessary in order to put you idea "into action."

This is the point where most ideas fall apart. Getting financing is not an easy task. You can try the traditional channels (such as banks and other lending institutions), but chances are, unless you have vast amounts of experience, excellent credit, and a large amount of collateral, you will most likely not get the loan you sought. An alternative is to find "private money." The problem with this is that many times private investors will want a large piece of your idea (by way of a percentage of gross revenue) or will want management control. You may agree to a "bad" deal if you are desperate and find that the investor is making more money than you! What are your alternatives?

This is the part when you may expect that I tell you how great the Internet is and how it has changed the modern business model. Well, it is true that the Internet is great, and it is true that the Internet has revolutionized modern business, however, many pitfalls exist that can make your Internet business awakening a real life nightmare.