I get asked this question all the time. It’s no surprise though. More and more people are using the internet and spend money online, and online sales are only growing. People are very interested in starting some kind of online business but they don’t know what to expect, they fear of failure or in other cases they don’t want to take the “Risk”…
You can’t let an opportunity like this one slip by. The web is a multi-trillion dollar industry and you can benefit big time.
When I got started online it was more of an experiment. I was not expecting to get hooked but it happened. Being an offline entrepreneur for many years I never thought that an online business could be so adventurous. I could not imagine the real potential so here I am to give you a few main reasons in order to encourage you to start an online business on your own…Today.!
Why Should I Start an Online Business
Low Initial Investment
I started out my online business for $19 (marketing training, hosting, other tools, and services) plus $12 for the domain name. The 2nd and 3rd month I’ve spent $94, a total of $125 and kept on working by adding content to my blog. Then it was when the first sales were popping up. By the end of the 4th month, I was already in profit. OK, you might be thinking, you did not have to cover huge costs, but I will reply with a question.
Do you know many opportunities where you can break even in such a short period?…Do you prefer paying for inventory, renting facilities and equipment?
Very Little Risk
The risk is closely tied to the initial costs. I’d rather lose $100-$200 than having to get a multi-thousand dollars bank loan in order to get started with a brick and mortar business. But even if an online business has to be terminated you can sell a website for profit.
You can sell/promote/create digital products and with no inventory in place, there is no risk of stocking up a warehouse.
Minimum Operating Costs
Anyone can grow an online business, even working all alone.!…You don’t need employees to expand at the beginning. Of course getting others to work for you at a later time it is a recommended way for growth but during the first months, it is the best practice to keep the costs as low as possible.
You only need a computer and an internet connection. No huge costs for equipment maintenance, renting or electricity bills. You can hire freelancers or companies for certain tasks at minimum costs. Online tools and services that you can use to expand your horizons are inexpensive as well.
Flexibility – Scalability
You can work on your own terms without having to worry about the clock. Additionally, automation helps in scaling. There are so many cheap digital solutions that can help online entrepreneurs reduce costs and increase revenue, like software, plugins, 3rd party tools.
A website serves as an online property that is open 24/7 throughout the whole year. As you continue to work and add content the traffic is increasing, revenue is growing. As a website traffic is growing you can monetize it in various different ways. You begin to sell advertising space or use email marketing to build a loyal fan base that will bring you money in the long run.
Creating digital products is fun and the profit margins limitless.
But do not expect to get rich without hard work. It is a business and as one it should be treated appropriately.
Unlimited Connections, Inexpensive Partnerships (Joint Ventures)
You meet people on social media, on websites, forums, communities, platforms. Imagine having to travel around the world in order to make these connections. With a click of a mouse, you visit other sites and grow your business cycle, building your Brand’s name. You can co-operate with people around the globe at no costs.
You can take advantage of the affiliate marketing model and let others promote your products while you can advertise others offers at the same time.
Who does not want to target such a huge audience?…According to Internet Live Stats, there are over 3,631,784,000 internet users in the world. That number has increased TENfold from 1999 to 2013. The 1st billion of users has reached in 2005. The 2nd billion in 2010. The 3rd billion in 2014.
Of course, a website can not target the whole internet population but building a multi-website business is totally achievable. Moreover, an internet user/buyer is interested in more than one products and fits in many categories/niches.
The potential clients’ range is way larger than when running a traditional offline store. In most offline businesses customers are people that live in the area and the competition is no smaller.
Work from Anywhere
I use a laptop to run my website. And although I travel a lot due to my other local businesses I always have the chance to work on my website as well. I’ve worked on cafes, on the beach, in restaurants, in the car.
Freedom to Enjoy Family and Life
I have more time for me and my family. I can work on the playground while watching my children play and enjoy a cup of coffee with my wife.
24/7 Traffic, Profit
A website never sleeps. You do, while sales are keep coming up. Visitors land on your web pages, get the information they want, take action on your deals.
I can not stretch this part enough. The profit margin is something that at first I could not imagine. Every piece of informational content is driving traffic long after it’s been published. With affiliate promotions, there are often times that you receive 30%, 40%, 50% or even 70% commissions. Digital products cost very little and can be sold at high rates.
Not to mention that you can sell consulting services and set the prices you want.
It’s a business, being an entrepreneur is something special, rewards
Any business includes risks, but only through this process, you can discover your true limits. Being an entrepreneur means staying creative all along and experimenting. The sales professions, the markets, customers always evolve. As an entrepreneur, you have to continuously come up with new ideas to stay ahead of the competition. The final rewards are unparalleled. You have to live it to understand it’s true meaning.
No need for physical products (although they are profitable), informational products are more flexible.
Creating digital products can help your business thrive more efficiently. Selling physical products is way riskier and you could end up with stock. Digital products can be delivered instantly and customer service takes place online.
An online business is not limiting your potential, you can either use offline connections to drive sales or you can take advantage of a website to attract potential local customers. A website is a business that never sleeps, the profit margins are amazing, the risks are minimized.
What else should you need?…
That’s it, another article has finished, here on Web Market Support. I am waiting for your comments and thoughts. Till next time, your online partner.
How to Start an Online Business Without Money