A lot of people are talking about it – online business and marketing. Is this just another phrase or is it something related to you? Well, if you are interested in making money, this topic matters to you more than you think. In this article, I will walk you through the perks and why you should start your own online business today.
Let’s start from the perspective of a store owner because that’s where the concept is easier to explain.
Why Start Your Own Online Business – The Advantages for Small Businesses
1 – 24 Hours Exposure
With a business website, your store is literally ‘open’ for 24 hours, which means any business information, location and contact details are available for viewing all the time. New customers or even other industry experts can easily check out your business without having to contact directly and this increases their trust towards you.
2 – Increase Business Opportunities
This is especially true if you are operating a retail store whereby you can also sell products online. Offering this kind of convenience is usually good for businesses, especially during shopping seasons.
Besides that, you can also promote membership and consultation service which allows you to communicate with customers online without the restriction of physical location.
3 – Create Social Presence
Customers who like your products will follow your business activities online so if you create a presence via social media, you can literally build your audience by the thousands. People will talk good things about your business and this can have a positive effect on your reviews which will then increase more social followers.
4 – Reduce Labor Cost
Once you get everything set up, half of your marketing effort is basically automated, which means you can reduce labor costs and the need for you – the boss – to be present in the store all the time. Ultimately, this is the goal that you want to achieve; more time freedom to do what you like while earning a passive income.
So, what about people like you and me who don’t have any experience running a business? Are we suitable to do online marketing? Absolutely. In fact, this is becoming an important skill that you want to start learning now than later. Here’s why.
The Advantages for Newbies
1 – Independent of Job Employment
No matter how highly paid you are, no one can guarantee you stable job employment. Accidents, retrenchment, bankruptcy – these are the things that you’ve heard from your insurance company so there’s no need to repeat them here.
When you rely on one job, you are depending on one source of income. However, when you run an online business, you can leverage from multiple long-term income sources from various niches. That way, you are not putting all your eggs in one basket.
2 – Pursue a Passion
How many times do you feel like you are doing the same thing all over again in your workplace? I feel that all the time and honestly, it’s killing my creativity each day. I used to have a lot of ideas, but due to the restriction of ‘a job’, I can’t do what I really want.
But, with an online business, you can choose to get involved in any niche that you like and let your creative juice flow.
As a result, you’ll be able to create a conducive environment for your soul and mind to thrive. If that’s not important in life, then I don’t know what else is.
3 – Low Start-Up Cost
In other words, you don’t need to have a professional degree or 10K cash to invest in an online business. You also don’t need to look for a physical location to rent and in most beginner’s cases, you don’t need to own a product either.
A lot of online programs and tools are free or don’t cost a lot to use. If you don’t eat out for a month, you can pay for a web hosting service and if you can cut down on your Starbucks coffee for a year, you can actually sign up for a training course to learn the rope of internet marketing.
With such low entry requirements, even college students, stay-at-home moms, and retirees can start an online business easily.
4 – Become More Money Savvy
When you are running a business, you’ll become more aware of your own expenditures. You’ll become very calculative (in a good way) and pay more attention to how you are spending your money and time productively.
Having a good sense of financial planning isn’t about becoming rich overnight. It helps you avoid excessive debts, reinvest in your assets and create long term wealth that comes along with the freedom of time. When you are happy with what you have, then you can go around improving other people’s lives as well.
What’s Your Definition of Success?
These are some honest answers that I’ve received;
- Earn more money
- Improve business sales
- Work and travel at the same time
- Spend more time with families
- Enjoy early retirement without financial worries
And you know what’s the solution?
Creating an online business can help you achieve at least one if not all of these goals. As I have mentioned earlier, it’s merely a skill, something that can be learned by anyone and applied to any niche that you want to be successful in.
I hope this article has given you some strong and valid reasons as to why you should start your own online business. Whether you are an experienced retailer or a newbie, the future of this opportunity is simply irresistible.
If you are already brewing with some exciting ideas, feel free to check out the Wealthy Affiliate training program to see how you can get started.
Do you have any thoughts or questions about building an online business? Just leave them in the comment area below and I’ll get back to you.
Great post because it takes a definite mentality that is very different then what it takes to be able to just rely on your job to provide a consistent income. While working in those long hours, you don’t really have much left over time. But keep in mind – some of the very best investments you can make are leveraging your skills and knowledge and sell them to the online audience.
Hello Cathy,
Like yourself I too would like more freedom and time to do the things I like the most. Starting an online business can be very rewarding and helpful for everyone. I personally think that affiliate marketing is a good way to start. It’s an honest business and carries lots of positive results. The opportunities are endless.
I’ve been thinking about starting online business for some time now. Unfortunately, for me it’s not about freedom, it’s more about necessity to find secondary income as at my current job I keep getting paid less and I’m at risk of losing it altogether due to ongoing budget cuts.
It’s hard to get excited when you actually love your job and do not want to go anywhere but you may be forced to. How long have you been with Wealthy Affiliate? How much time (how many hours spent) do you need before you start seeing results?
I totally hear you Magda,
I am currently working full-time on a job that I really like but after 7 years, I feel it’s time to move on. My journey with Wealthy Affiliate started 2 years ago and on average, I am only able to spend 3 hours a day building my business due to my day job commitment. My results have been sporadic and I think that’s largely because I don’t get to work on it consistently.
However, I do want you to know that there’s a system to make this work. Everyone has different learning curves; if you have the experience, you are going to see faster results and vice-versa. Even if you don’t, just keep working on it – whether it’s 3 hours or 13 hours per day.
When you do it regularly, building a business is going to be part of your daily routine and your goals will naturally feel more achievable rather than impossible. Work twice as hard now so that when you are let go of your job, you’ll have a better transition as a business owner.
If you need anything, just look up for me at the Wealthy Affiliate training area and I’ll help you out.
This is a great post!
I have always wanted to start an online business, but just didn’t know where to start. I am so glad that I have found your post and now I can actually take action to achieve my goals. What do you think is the most important information I should learn first when starting out?
Hi there Evan,
One of the most important thing about starting an online business is to have a good grasp of keyword research. It’s the basis for all types of traffic that you want to target later on. Your first few choices of keywords will have some flaws but that’s okay. The more you practice, you’ll become better at finding long-tail, low competition and sensible keywords for your niche.
Wealthy Affiliate has a free keyword tool that you can use for unlimited time (if you are a Premium member) which can brainstorm keywords to help you come up with targeted content. If you have no experience in online marketing, that’s a great tool to begin with. So do check it out.
Everyone needs to start their online businesses at some point to be able to enjoy retirement. Not only they will have full control of their own time, they will also have the freedom and luxury to enjoy life because of the financial reward having a successful online business can give. Although I sometimes worry, what will happen to our online business if one day, the internet decided to close down for good? HAHA. I know it’s impossible, it’s just weird, random and unnecessary thought I came up with, LOL.
Hi there Pitin,
I doubt that the internet world would shut down. Instead I think businesses will continue to evolve around it, The thing that would ‘disappear’ is actually us. When we build an online business, we are also creating a virtual wealth that can be passed on to our next generation in case something happened to us. Very much like a physical asset actually, but I think the online transition is far less complicated.
Hi Cathy. I really enjoyed reading your post and found it to be very helpful. I do agree with all your points, creating your own personal business online is a great way to pursue your passion, on your own time. I think it’s very important to work on something that you actually enjoy, instead of having to deal with a job that drains you. The independence of job employment really has no price!
Thanks for the read.
Welcome to my blog Christina.
There is so much to gain from running your own business instead of working for others. For me, it’s the opportunity to express my ideas and creativity which make me feel like I am actually doing something productive. It feels good from the inside and that’s what matters most.
And by following the community at Wealthy Affiliate, I know I am going to create a better lifestyle for myself in the near future.
Hello Cathy,
One person is there on the verge of breakdown, bank accounts going to hell. And suddenly a new options presents itself. I could be the solution.
You article Why You Should Start Your Own Online Business Today is very elucidative and helps us get a better view about the subject.
That’s a very expressive statement you have there Caito and it is very true.
I remember the days when I was struggling with my situation and I went around looking for the best solution. A lot of people gave me ideas but didn’t really show me what to do. And it occurred to me that I didn’t need anymore inspiration; I just need to move out from my comfort zone and take drastic action.
That’s how I ended up starting an online business with Wealthy Affiliate. The training has made me more focused and unleashed the creativity that has been buried for years. If I knew online entrepreneurship is this exciting, I would have started way during my college days.