11 Reasons Why Starting An Online Business Is The Best Decision You Will Ever Make
Why Starting an Online Business is a "Need" not a "Want"
Do you want to change the circumstances of your life?
Do you want to try out something new?
People are always exploring possibilities to bring about a change in their lives, for the better.
They are fed up of their 9-5 jobs, which drain a lot of their time and energy. They are fed up of driving through traffic back and forth to their office. They are fed up of working hard to make someone else rich.
Does that sound like you? If so you have come to the right place.
I’m going to talk about how starting an online business is one of the best decisions you could make.
Starting a business itself is great, but starting an online business is even better, as you will soon see.
Before we dive in let me give you a summary of 11 reasons why starting an online business is a great decision you can make.
- 1Easier and faster to set up than traditional businesses - It involves much less hassle. You can start it up in mere weeks.
- 2Cheaper than traditional business - Does not have that much of capital requirements.
- 3Has an immense reach online - The internet has global reach, so will your online business.
- 4You can operate from anywhere - As long as you have internet you can operate from anywhere.
- 5Online business can be automated - Let the computer do all the work for you while you relax
- 6You’ll be your own boss - This is true for any business
- 7Easy to target a specific audience - You have all the tools to do so
- 8You can hire people from around the globe - The internet makes it possible for people to work remotely; you can hire someone halfway across the globe.
- 9Ads make you money while you sleep - Just pay for the ads and you will get a lot in return; all of it happens on autopilot.
- 10Availability of variety of shipment options - This ensures that you can get your product across to anyone in the world.
- 11You can start a business even without a product - You can start an E-commerce by DropShipping
Do the reasons stated above appeal to you?
If yes, great.
You may be looking to break free from your overworked yet underpaid lifestyle.
Or you may simply want to earn some considerable amount of money.
An online business could be your solution.
Let’s go into it in more detail.
1- Easier and faster to set up than traditional businesses
This is the main appeal.
People are often discouraged to do something because how ‘hard’ it is. Actually nothing is really that hard.
Anyway, starting an online business is much easier than traditional businesses - you can set it up in a matter of days.
If you take a traditional business, you need a physical location. You either need to buy or rent a place. And then you have to set up the furniture and set up everything in place.
For example, if it is a product store imagine having to line the shelves with products? It is a lot of work.
It is much easier to start an online business - there are plenty of software tools to help you with that.
2- Cheaper than traditional business
Not only is it easier than traditional businesses, it is also a lot cheaper.
Like I said you need to buy or rent a place for a traditional business. It will take a lot of money, not to mention the utility bills you have to pay monthly.
If that’s not enough you also need to pay for the furniture and office supplies.
And it doesn’t end there….
You will need to hire a bunch of people to run your business (we will see later why online business does not have this requirement). A large portion of your revenue will go for their salary.
Considering all these you may wonder how it is even possible to turn profit with a traditional business.
Maybe that’s why many startups don’t.
Anyway, an online business is a lot cheaper because it doesn’t involve these expenses.
And because there’s less money involved there’s less risk starting up an online business.
People generally don’t like to take risks. What about you?
3 - Has an immense reach online
Say that you open a retail store in your local area, how many people do you think would become your customers?
Most probably it’s the local people.
Sometimes it could be people coming from outside, such as tourists.
On the other hand, if yours is an online store, you could sell to the whole world! (provided shipping is available).
More and more people are spending a lot of time online, for the better or worse. That means a lot of potential customers for you.
Internet and mobile has penetrated the lives of many. You have a kind of reach online that you can only dream of with a traditional business.
One day you could sell 5 products, and the next day you could sell 500.
You never know when your business will boom!
As online businesses have immense reach, they have great potential.
Come up with a product that people would love and you could become the next millionaire!
4 - You can operate from anywhere
Yes. No need to be shackled to a particular location.
With an online business you can work from anywhere – from the comfort of your home or while you are vacationing in Hawaii.
You do not have to be stuck in the same office; you can travel while you work.
This is part of the appeal of online businesses and it is very lucrative. It is a luxury only a few can afford.
This is a lifestyle you would most definitely love.
5 - Online business can be automated
This is another great reason why online business is so easy to start and run.
When we talk about online we are talking about things done on computers.
And the good news is things done on computer can be automated, with the use of software.
You have software tools for virtually everything.
Whether it be building a website, building an email sequence, or setting up a sales funnel, everything can be automated with the use of the right software.
That means it is very much possible to run your business all by yourself.
Yes, it could very well be a one man show!
Doing everything by yourself is good in two ways.
First, since you do everything by yourself, you have more control over your business - something you’d love if you’re a control freak.
Second, you don’t have to hire a bunch of people to run your business. So you will save quite a lot of revenue.
It is true that you’d have to pay for software, but it is significantly less than paying a bunch of people.
6 - You’ll be your own boss
If you are tired of doing others’ biddings, you’d love this.
As with any business, online business means you are your own boss.
You make the decisions. You call the shots.
You might even have people working under you.
Not only that, you would reach your utmost potential in creativity and productivity, because it’s your very own business - you are not working to line someone else’s pocket.
Your heart will be on your work. Maybe you will realise for the first time how it is like to work with passion.
Many people don’t like the idea of working under someone in 9-5 jobs; they’d love to break free.
An online business could be your ticket to break free.
7 - Easy to target a specific audience
This is another excellent reason why online businesses are great.
It is much easier to find your potential customers.
You see, online business works in terms of traffic. Traffic of people coming to your website, much like traffic of people walking into a physical store.
However, online traffic has the edge because you can easily target a particular traffic – a specific audience you have in mind.
You should ideally target a group that is most likely to become your customers.
And there are a lot of tools to help you with targeting a specific audience.
For example, Facebook’s custom audience allows you to show ads to a specific set of people.
Whether it is Search Engine Optimization or Paid Ads, it is very easy to bring in traffic from a particular audience.
Such traffic is high quality traffic because it will have high conversion rate.
8 - You can hire people from around the globe
Thanks to the internet, distance is no longer a problem.
Due to the nature of online businesses, remote working is very feasible.
It is possible to hire someone who is halfway across the globe!
That means you have a great deal of talent at your disposal - you can hire workers from all over the world.
Moreover, hiring someone from another country than yours might be cheaper because of the difference in the cost of living.
We talked about why online businesses do not require much manpower - even if you need things done by people, you don’t have to pay much.
9 - Ads make you money while you sleep
Like we talked about, it’s very easy to target a specific audience online.
Just set up the ad campaign and it will drive quality traffic to your funnel, on autopilot.
You spend some amount on the ads, but you get a lot in return as you make sales from those ads. It’s a very profitable venture.
With the right software everything will be on autopilot.
That means you will save a lot of time. Time you can spend doing your favorite hobby, or with family.
10 - Availability of variety of shipment options
When we talk about online businesses, shipping is a very important part.
This is the part where your customer receives the product they paid for - if they are not satisfied with this part they may not purchase from you ever again.
Luckily, nowadays you have numerous shipping companies at affordable costs, such as DHL, UPS, Kuehne + Nagel, etc.
You can offer different types of shipping rates for your customers.
For instance, you can offer shipping rate based on the weight of package and the distance it has to travel.
Or you could offer a flat rate for all shipping.
Better yet, you could offer free shipping - customers love that.
11 - You can start a business even without a product
Don’t have a product?
That’s fine. You can start an online business without one!
That’s right. You can start an Ecommerce business by Dropshipping.
What is Dropshipping?
Well, Dropshipping is where you get orders from customers, and fulfill the orders by purchasing the items from the manufacturer or wholesaler - you do not keep the items in stock.
See the difference? You don’t own the product. You just pass it from the manufacturer to the customer.
And you make some money in the process of course.