The internet has made business life so easy that anybody can start an online business now. All the businesses I have started were all online. If I had started an offline business, my failure might have been so devastating that it might have led to gigantic debt, which could have led to bankruptcy. I am a firm believer that online business is safer than offline business. But, this is just my own opinion.
A 16-year-old boy started his own online travel agency in 2010. His name is Arya Bina. Now he is 19, and his online business generates enough revenue to appoint 20 employees in the US and abroad. A very popular business web portal covered the real story this year.
Arya Bina is not the only one who has been able to take it to the peak. There are people who earn about $10 million a year working only 10 hours a week online. These people knew when and how to use the power of online business and turn it into an unbelievable source of income. Many people can never think about choosing an unconventional source of income. The backup of a fixed digit monthly salary still dominates our career decisions. The fear of failure becomes one big obstacle here. Additionally, we are scared of change.
Today, leave everything behind for an hour, and think – “Why should I start an online business?” “Is there any reason to believe that an independent online business will be enough to sponsor all of my major life expenses and manage my financial security?”
Let’s check out whether it’s really possible or not. We will tell you the major 10 reasons to start an online business today:
1. Online Business Requires Minimal Capital Investment
You can start an online business with zero cost. You can start selling your services online through sites like fiverr.com, freelancer.com, odesk.com and many other places like that. This costs you zero dollars to start. You can even start selling old stuff that you don’t need any more on an auction website, like eBay. This will also cost you nothing to start.
To start an online business, you won’t need to make the fixed capital intensive expenses like renting building space, or giving a salary and offering additional benefits to your employees. The start of any online business will be small. You probably have everything you need to start in your house already, such as a computer, table, chairs, printer, scan machine and a telephone at the most. So, if you’re money constraint, then no problem because you can start an online business that will only require you to use your already existing skills to run it.
2. Online Business Gives Faster Reach to a Vast Number of People
Worldwide visibility and global reach are some of the greatest advantages of starting an online business. You are not restricted to your local area to sell to customers. Online business allows you to reach more than 500 million people worldwide, which is plenty. This makes finding and reaching your target consumers much easier.
Smart website management techniques, online promotional tools and the right networking are just some of the things that will attract the right type of buyers to your blog or website. As you can imagine, buyers from every corner of the world will become your target consumers with the help of the internet. A country or geographical area can never limit your business scope.
3. More Income, Less Expenses
As the initial setup remains very small in the beginning, or at least as long as you want, your expenses also remain restricted with an online business. The reason to start an online business is that you can work according to your convenience, and the income is also quite attractive. The net income is very convincing.
4. Less Impact of Recession
The impact from a recession on an online business remains very low. Recessions have a more maximum effect on the permanent fixed salaried employees, because companies try to reduce their overhead expenses or fixed costs. Job retrenchment is the commonly seen impact of the economic crisis. So, you will not have any such threats in this case. You will be able to dedicate your time and give hundred percent of your effort without any fear of losing your job unexpectedly.
5. Online Business is Easy to Manage
An online business is always very easy to manage. Every business transaction will be a self dependent automated process which will not require any extensive supervision. Money is collected online and may even be deposited into your bank account automatically.
6. Easy To Run As a Side Hobby
Most online businesses can be started and managed while you are still employed. This gives you peace of mind while knowing that you don’t have to lose your shirt if that business fails. Then you can support this business from your salary until the business start making money.
7. Cheaper Marketing Expenses
To start promoting your business, it is very simple online. You can start promoting it with just $5, unlike offline businesses that may need thousands of dollars for marketing and promotions; such as radio ads, television ads, billboards, postcards, flyers and so on.
You can easily start promoting your online business through pay-per-click services, such as Google Adwords, banners on other websites, solo ads to other people’s mailing lists and so on. We will talk about methods for getting targeted traffic to your site later.
8. Online Networking Unveils New Business Ideas
Most of the time, online businesses allow you to work with many other talented people. Through that, you can start your project together with other business people. This will quickly expand your knowledge and make your success come through so quickly.
9. Sudden Success and Big Pay Day
Like the story of Arya Bina that I told you above, online business can easily be successful and be sold for a big price. PayPal was founded in 1998 and sold for $1.5 Billion in 2002; Billmelater.com was founded in 2000 and sold for $1.2 Billion in 2008; Zappos.com was founded in 1999 and sold for $1.5 Billion 10 years later; Endeca.com was founded 1999 and sold for $1.075 Billion in 2011; Kelkoo.com was founded in 1999 and was sold for $1.5 Billion in 2004. As you can see, there were many online businesses that sold for big money in the past.
Start an online business today and you may become the next billionaire.