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.