7. BIG reasons you should start an online business
1.) Starting an online business can be extremely inexpensive
As I stated earlier many small online businesses have started building their empire with nothing more than a computer, a domain name and a web hosting service to house their website on and get their information out to the millions of people online.
Altogether you can expect to spend as little as $100 ? $200 (for the year) getting started and over time you can generate enough income to begin building a lifestyle that allows you to focus on the things you love.
Once you?ve built a blog, business website or online store and you?ve spent some time gaining traffic and building an audience you can create products and/or services to sell to your targeted audience.
Digital information products, software and services are extremely popular among many small online businesses and bloggers because you can create them for little to no cost and they are available for download 24/7.
Depending on your level of experience you?ll be able to either create your own products or higher someone else for more complex projects in order to help you create a product that is valuable to your consumers.
For those who would prefer to focus their time and effort on providing entertainment, information and/or education rather than creating products, such as those who work as bloggers (in a specific niche) you have the ability to promote products from other businesses and earn a commission for each sale.
What?s great about promoting other companies products as an affiliate is that you don?t have to spend all of your time and/or money creating your own products or services.
You can simply recommend the best products/services to other individuals and earn money for helping educate them on why a particular product and/or service is a great option for them.
One of the best part of owning an online business is the fact that you don?t have to ship any products and you have virtually an unlimited supply since everything is digital.
On the flip side you can choose to create an online business that sells physicals products and use the online portion of your business as a way to market and sell your product to the millions of people who go online every day.
This allows you to reach a much larger audience than if you ran a traditional brick and mortar store, and as I mentioned before online websites are always open for business and don?t require you to be there in order for a transaction to occur.
One more important thing to consider is the fact that you can start an online business all by yourself with a little more than some time and sweat equity. You don?t have to pay employees, rent or cover other expenses that a typical business has to worry about.
This makes the bar to entry extremely low and allows you to use your knowledge, experience and expertise to create something you can sell or trade.
In fact for many small businesses and content blogs an online website is one of the least expensive businesses for an individual entrepreneur to start up quickly.
2) You have flexibility of your time
Depending on the type of online business you choose to set up you can end up having much more flexibility in creating a work schedule that works for you.
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 up 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 and how well your business systems are working, not the number of hours you work.
Having more flexibility in your schedule means being able to spend more of your life focusing on important activities both inside and outside of your business, and being able to make more time for the things that truly matter to you (aside from your business that is).
3) You have the freedom of choosing your location
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.
For most online business, especially blogs there?s little to no commute time necessary, which saves you a lot of wasted time, energy and fuel.
The additional time that you gain from not having to commute and the freedom you get from working where you choose means you can be much more productive and have more freedom to set up a schedule that is much more efficient and flexible.
4.) The business runs 24/7
I know I?ve hammered this down several times, but it definitely should be repeated.
Unlike most traditional brick and mortar stores an online business can be run 24 hours a day 7 days a week, even when you?re not in front of the computer.
And because websites are always online it allows others to always be able to find what they are looking for quickly and easily.
This provides business owners with much more flexibility in regards to both when and how they work by allowing the information, products and services to always reach those in need.
As long as an individual has a computer, tablet and/or smartphone they are able to visit your online business or blog and get the information they need when they need it.
Examples of this include blogs (such as this), niche websites, news sites and eCommerce retailers that are able to provide valuable information, products and/or services to readers, consumers and buyers who are interested in what they have to offer.
Nowadays many businesses earn an income by offering value to their audience, which is willing to take the time to read or watch what they have to say and/or buy the businesses products, services and/or solutions to help them solve their problem.
Whether the problem is wanting to be more entertained, informed/educated, healthy or free a good online business will offer enough value to satisfy the needs of its audience and educate them so that they can make the best informed decisions possible.
5) You can (eventually) outsource your work
As you grow your online business and begin to earn money you can begin to outsource some of your work, hire contractors or even hire employees that can help you continue to build your business further.
While many individuals may prefer to do all of the work on their own being able to use some of your capital (that you earn from your business) to outsource some of the work you either don?t want to do or in some cases can?t do you can spend much more of your time focusing on the aspects of your business that truly require your time.
Outsourcing work does often cost money so this is usually a bit further down the line, however it can help you significantly grow your business at a much faster rate once you?re able to do so.
Eventually some entrepreneurs get to the point where they are able to continually grow their business while outsourcing the vast majority of the work, which gives them a lot more time and freedom to spend their personal time on other things they enjoy.