Having an online business can be a lot easier to achieve success and more quickly than other business models in most cases. Usually most business models involve more risk and may take longer to get up and running. An online business has minimal risk and little to no cost to get started.
In this blog post, learn the seven advantages that an online business may have over other models.
(Post may contain affiliate links. I only share opportunities I feel will benefit my readers.)
#1
It's Inexpensive
Setting up an online business can be way more inexpensive vs. setting up a brick and mortar business. For example, to set up a brick and mortar business you would have to consider the costs of rent or mortgage for a physical location, insurance, office equipment, and so much more.
With an online business, most people may have everything they need to get started such as a laptop or computer, wifi which you are already probably paying for, and a quiet space in your home where you can work. If you already have a designated space or office in your home, then you are already one step ahead!
If you do not have these essential things to get started, then you can get the online business essentials toolkit here.
Having the essentials is really all you need to get started. As far as what type of business model you plan on having will vary as far as what you would need to get started.
(If you are looking for ideas on how to start an online business click here.)
#2
It's Much Easier Than A Brick & Mortar Business
In my opinion, it is much easier to run an online business vs. running a business at a physical location. There is so much maintenance that you would have to be concerned with and so many expenses etc. More than likely with a physical location you would have to have employees depending on the business and even additional services to maintain the building like cleaning services and security etc. outside of the normal business expenses.
Another benefit is that you can implement automation tools such as email marketing, social media, and different marketing tools. For example, if you have an online store, it can make money while you sleep vs. a physical location, you can only make money during store hours.
Eventually, in order for you to maintain time and freedom after launching your online business, you may eventually need assistance by hiring virtual assistants.
Virtual assistants are way more inexpensive to hire vs. a full time employee. You can hire a virtual assistant to do the tedious basic tasks in your online business that you do not care to do.
There are so many talented virtual assistants that you can help with just about anything in an online business. Some of the common tasks that most virtual assistants can do are social media posting, article writing, everything for running an online store, calling prospects, answering emails and phone calls, and so much more.
For more information on the benefits of hiring virtual assistants and how to hire them, you can check out my blog post here.
#3
It Operates 24/7
With an online business, it can run 24/7 thanks to automation depending on the type of business you have. As mentioned, your online business can potentially make money while you sleep. If you have a services business, no problem, you can still have an automated website that operates as if you have a virtual assistant and it can book appointments for you 24/7.
If you have a blog, people can view your content anytime and can make purchases or respond to any ads 24/7.
An online business can also give you the freedom and flexibility to work your own hours. You can control your hours by presetting your schedule so potential clients
can only book appointments based off of your customized availability.
Of course if you have an online business such as an online store, you may not have the flexibility and freedom due to having an obligation to fulfill orders in a timely manner and respond to emails etc. This is when hiring other virtual assistants to help with those types of tasks become beneficial to help achieve the flexibility and freedom that online business can ultimately achieve for you.
#4
You Can Run Your Business Globally
With an online business, you are not limited to just running your online business locally but instead can reach anyone anywhere in the world. More and more people are making purchases online and are seeking services if possible online. Your next client or customer could be in another country which can be something you may have never imagined. This can be a great benefit for your can help you to build a massive audience.
#5
It’s Easier To Scale
An online business is so much easier to scale and that is subjective depending on the type of online business you have. For example, you can create an online course which may take a lot of work and time to initially create, but once you create it, you can continue to make money online from that course over and over again. You can do the same thing with an eBook or some type of software product. If you have a physical product it could potentially work the same. If you have a system that is automated and is set up in the most cost effective way, you can continue to earn revenue from the product continuously. This works for drop-shipping as well. If you provide services, you can book clients online and if you are a consultant or counselor for example, you can hold your sessions virtually which so many people are doing now on platforms like Zoom.
As you can see, once you have a system in place with running your online business, it is easy to scale.
#6
Can Get Started Faster
With the right strategy in place, you can grow your online business very rapidly. You can start earning an income in a reasonable timeframe. With advanced technology, there are some platforms that you can use to start your online business to get up and running in no time. Some platforms are already done for you and some will enable you to get started in just a few clicks.
Here is an example of a done for you business system that is set up with built in automated email marketing, a built in customer relationship manager (CRM), and built in landing pages etc.
You can check it out here.
#7
Freedom And Flexibility
There are more options available that will allow to manage an online business easier. As mentioned, an online business can allow you to create freedom and flexibility which will ultimately enable you to have more time with your family and friends. Of course, with an online business, this may not be the case initially as it takes a lot of hard work and dedication in the beginning, but eventually the end goal is to have freedom and flexibility.
If you are looking for freedom and flexibility and are interested in an online business and do not know where to start, then you may be interested in my course where I can show you how to start an online business around your passion and lifestyle to achieve the freedom and flexibility you desire. Click below for more information.