If you’ve been thinking of starting an online business but you have some doubts, this article discusses the many benefits of starting an online business or taking your traditional brick-and-mortar business online. By the end you should have more information at your fingertips to enable you make your decision.
- Starting an online business costs very little
Many entrepreneurs start out at no cost by setting up solely on social media or free blogging platforms. It is more advisable to situate your business on a self-hosted website, and this might only cost you a small annual fee for your domain name and hosting. In exchange, you get to save the money that you’d have spent on rent, electric and water bills, furniture and other expenses. If you already have an office or shop, taking your business online still benefits you because you can reach customers in other locations without setting up shop in those different locations.
2. Take control of your time
If you’re anything like me, you probably do your best work in the early morning when it’s quiet and cool. Having an online business means that you choose when to get stuff done. Rather than forcing yourself into a 9-5 stretch, you could work in the early mornings, or at night. You could take long breaks between work to watch cartoons with your kids or grab lunch with your girlfriends. You could set a dentist’s appointment, go to the bank or attend daytime events without having to take permission or leave from anybody. Your life is made up segments of time that you can’t recover. Having an online business means you get to decide how best to use your time.
3. Work from any location you choose
For some, the entrepreneurial dream is to work from a beach in the Bahamas, basking in the sun and sipping on coconut water. For you, it could be curled up and comfy in bed with your laptop and a latte. For others, it could be operating from a co-working space, surrounded by other equally ambitious and motivated people. The beauty of online business is you get to choose your ideal work environment, and change location at your convenience. You can make sales and close deals on the go, because you are not tied to any single place.
4 Reach a worldwide market
With an online business, the world is truly your oyster. You’re no longer limited to customers that live within your geographical location. You can connect with clients from continents away and sell to thousands of people in different places. This means that you have a much higher chance of attaining exponential growth in your business. With the way the world is set up now, deciding not to take your business online, is deciding to limit your chances of success.
5. Increase efficiency through outsourcing and automation
Do you ever get overwhelmed because you feel like you have to do every single thing by yourself? Many entrepreneurs can relate because starting a business usually means you have to wear many hats- CEO, marketer, designer, customer support etc. With an online business, you can take a lot of work off your plate by outsourcing to an agency or a virtual assistant, or by automating certain tasks with software. This can free you from doing the work that you hate or are not good at, so that you can focus on the things that really matter. It also means that you can get more done in less time.
6. Passive income: make money while you sleep
“Make money while you sleep” sounds like the start of a sleazy sales pitch, but if you set up your online business systems properly, this could be your reality. Think about it. Your website is up 24/7 and available to potential customers everywhere, regardless of distance or time zones. With the right copy and automations, your website could be pitching your products and services, answering questions, taking bookings and making sales without you having to lift a finger.
7. Ditch the 9 to 5
The 9 to 5 life has its perks, but sometimes you get tired of the drudgery and repetitiveness, the long commutes to work, the office politics, your boss breathing down your neck, the frustration of dealing with red tape and bottlenecks, and that feeling of being overworked and underpaid. Starting a business online means you can cultivate something on the side and grow it to the point where you can afford to kiss your day job goodbye.
8. Pursue your passion
Do you find fulfilment in what you currently do, or are you just stuck in it due to circumstances? The good news is, it’s never too late to start following your dreams. The internet gives you access to so many learning resources, and online communities of people who share your passions. If it’s something you love and something you’re good at, there’s a very high chance that your customers are out there on the internet, waiting for you. So if you’ve been looking for a sign to start that thing you’ve been wanting to do, this is it!
9. Live your ideal life
Let’s do a little math. We’ve established that starting an online business greatly increases your chances of having more time + more money + less work you hate + more of doing what you love + working from wherever you want. Add these all up and you have a good shot at curating the exact kind if life you want to live. So the question shouldn’t be “Why start an online business”, the question is “why not?”
If you already have an online business or are thinking of starting one, I will be here to help you with tons of useful resources, articles and freebies. Sign up to my mailing list so you don’t miss a thing. You can also follow me on Instagram for even more inspiration.