8 BIG reasons you should start an online business

Not sure about starting an internet business? Let me give you 8 reasons why you should as soon as possible.
Too many people view Internet business through an extremely narrow lens – either you’re pawning off your personal possessions on eBay or you’re trying to be Mark Zuckerberg with the next big Internet thing. The reality, of course, is that there are as many different ways to do business online as there are people making this lifestyle work for them.  For example, as an Internet business owner, you could:

  • Provide online consultancy services with the website  appointment system and earn online
  • Sell your handmade arts and crafts on Easy
  • Run an informative site that generates revenue through advertisements
  • Provide professional services to clients around the world
  • Generate client leads for offline businesses
  • start a blog and get online Visitors for your products 
  • Sell other peoples’ products and earn a commission for each referral

But the “how” of Internet business isn’t important – there are enough different Internet business models out there to suit any particular combination of strengths and weaknesses.  What really matters is the “why” – that is, why you should consider pursuing online business in the first place.
The following are just a few of the benefits of owning your own Internet business.

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#1. Ultimate job security

Ask a handful of people what they think about the idea of pursuing Internet business, and you should hear at least one person respond with, “It’s too risky!” I have to disagree. When you learn how to do business online, you’re actually training yourself to create ultimate job security. If you learn how to sell products online, chances are you’ll be able to repeat this process – even if your original idea doesn’t pan out.

The same goes for finding freelance service clients, sending traffic to ad-based sites and successfully re-launching every other Internet business model out there. Now, contrast the ability to generate income online over and over again with a steady day job held at a single employer. Considering how many companies go under these days, putting all your eggs in that single basket ultimately sounds much riskier to me than learning how to make money online!

#2. Access a wider network of clients and buyers

If you already operate an offline business that either sells products or takes on freelance clients (for example, as a freelance writer, web designer, programmer or accountant), transitioning your business online will give you access to a much wider pool of clients and buyers. No longer are you competing against other agencies in your area for the same small network of customers – instead, as an Internet business owner, you’re free to think as big as you want. This could mean accessing buyers a few towns away from your own or even “going global” in order to expand your business’s reach dramatically.

#3. Enjoy low startup costs

If you’ve always had an entrepreneurial bent, know those business owners who choose to launch their ventures online enjoy substantially lower startup costs than those in the real world. Think about it – the “real world” business owner must pay for commercial space, physical inventory, printed stationery and more.  As an Internet business owner, your only real expenses will be a domain name and hosting account. Even if you do decide to purchase inventory outright or invest in tools that will make running your Internet business easier, your overall investment will still be much less expensive than maintaining a physical presence offline.  

#4. Increase your earning potential

If you’re employed in a full-time day job, your earning power is limited by your field and your experience. If you work as a teacher, for instance, you can accrue all the experience and certifications you want – you’re still never going to hit the same million-dollar salaries that investment bankers or lawyers will. But with an online business, the sky’s the limit.

If you sell one product online, you can train yourself to sell fifty. If you decide to expand your service offerings significantly, you can always take on additional employees to help manage the workload. Instead of negotiating a pithy 3% raise with your boss, you’re essentially creating this increase (and much, much more) for yourself – a truly empowering experience that makes all the risk and uncertainty of Internet business worth it.

#5. Access to a worldwide market

The beautiful thing about an online business is the ability to run it 24/7 without boundaries. There are no geographical boundaries and there are no specific hours of operation — an online business can produce revenue around the clock, even while you sleep.
With a well-thought-out social media plan, search engine optimization and paid media strategies, an online business can thrive. You have access to the entire world right at your fingertips. The luxury of being able to target specific states, regions, and countries gives an upper hand to online-based businesses.
In an online business, you aren’t tied down to a desk or a single location. As long as you have an internet connection and a laptop you can run your business from anywhere in the world.
You have the freedom to travel and choose where you want to work on any given day and that’s extremely liberating.
Whether you want to visit your family in another state or take a trip somewhere exotic your business will always be with you.

#6. You have more flexibility in your time

Depending on the type of online business you choose to set up you generally have more flexibility in creating your schedule.
You can choose what time of the day you want to work, how many hours you want to work and what days of the week you want to work as long as you set your business in an efficient way.
This doesn’t mean that you can simply relax all of the time, but you have more choices in choosing when to focus on being productive whether it’s Monday – Friday or just the weekends, and whether it’s early in the morning, late at night or in the middle of the day.
You aren’t limited by an hourly wage because your income is often determined by how productive you are with your time, not the number of hours you work.
Having more flexibility in your schedule means being able to spend your life focusing on other important activities outside of your business and being able to make time for the things that truly matter (aside from your business that is).

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#7. Online business opportunities

How you manage your business online will depend on the products or services you offer. You may be able to use the internet to:

  • run an online shop
  • manage your suppliers
  • communicate with your customers, and get their feedback on your business
  • offer services online
  • allow customers to make reservations or appointments online
  • manage your finances, such as online banking, tax and employee pay
  • research competitors.

#8. Future opportunities

Keep in mind that your business, as well as the variety of online tools available, is constantly changing and evolving. While you might not plan to have a website immediately when you start operating, it’s still a good idea to think about whether you will need one at a later date and what you will use it for.
When you are planning the online aspects of your business, you should:

  • research your competitors and other businesses that use online tools
  • decide what aspects of online business will benefit your business
  • review your budget to work out what you can afford
  • familiarise yourself with any laws and regulations that will apply to your online business activities
  • consider your requirements, including what software you need and what types of computer equipment you need to run it
  • plan for risks, such as computer viruses, scams, data theft and loss of or damage to hardware
  • think about what training you or your staff might need
  • be realistic about the time and budget you will need to manage the online aspects of your business.

Read The Fastest Way To Grow Your Business

Have you previously invested in an online business or are you considering it in the future?
Share your thoughts with us in the comment section below.

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