If you’re also one who is exploring new business opportunities then you’re at right place. Today I’m going to discuss Why Online Business is getting More Popular? Because it’s affordable and easy to set up. It’s no surprise that more and more businesses are focusing in on their audience of online shoppers.
The internet has created a new economy, which by its explosive growth and sheer size already changed our perception of the traditional way of doing business. Companies like Amazon and eBay have successfully created domination on areas, where just a few years ago traditional brick-and-mortar companies were kings. However, in order to be successful online, you don’t have to be a giant like them. Many small and mid-size companies managed to build online businesses quite profitably.
Below I pointed out some reasons why you should start doing business online right now.
1. You Have Opportunity to work from anywhere
Scaling any business is not easy, whether it is a brick-and-mortar location or an online business, but an online business has advantages. With Online Business all you need is have a device and a WI-FI signal and you’re away. You can Operate your business either you’re not at home or while traveling. you don;t need to shut your shop doors or hire additional staff to cover your shift. That means your income won’t stop and your expenses won’t rise. Online businesses, however, can be very appealing because they don’t have the traditional hurdles that most new ventures face.
It’s no wonder online businesses are so popular!
2. You’ve limitless freedom
True entrepreneurs respect the freedom and understand that the hard work is well worth the ability to spend more time with their families and partake in activities that most miss out on because they are part of the nine to five grind.
Modern technology, laptops, tablets, business apps and VOIP communication systems are just some of the tools that allow businesses to be operated from any location.
3. Business more Easily available to Customer
Just a couple of years ago, companies used to require days to deliver products or services update information to their customers. Things have changed since then. Today you can add or make any changes to your company and product-related content virtually in a matter of a couple of hours, publish on your site and share with the whole world.
The beautiful thing about an online business is the ability to run it 24/7 without boundaries. There are no geographical boundaries and there are no specific hours of operation.
Surfing the internet is a huge population of people from all walks of life. Whether your business is about selling products or offering services to clients, you have a much greater pool of potential customers.
4. You don’t need to be Financial strong
When you start up a traditional business, you’ll be required to fund the costs of an office or shop space. You may need to pay for printed stationery, furniture, equipment and employ staff.
But with an online business, your initial costs are buying a domain name and hosting to getting a website built.
That’s why an online business, however, has substantially lower start-up costs which is why many young people are diving into internet business owners.
5. You Can have high margins
If you’re currently employed your earning ability is likely to be limited by your industry, the company size, and your experience.
With online businesses, your earning potential is virtually unlimited. Firstly, your business is open 24/7 so while you’re sleeping. As we can take the example of Drop-shipping.
A drop-shipping agreement with the manufacturer or a manufacture-to-order arrangement can greatly reduce your financial-risk and will allow you to maintain more consistent margins with less upfront cost.
That means you can continue to develop and grow your business however you choose. That’s not to say it won’t be hard work and require dedication, but play your cards right and the sky’s the limit.
List of 5 Famous Online Business: Story of touching sky
Founder: Mark Zuckerberg
Mark started Facebook from his Harvard Dorm Room.
He got into the limelight when he refused $1 billion offer from Yahoo. Later on he sold a 1.6% stake in Facebook to Microsoft for $240 million, raising the valuation to $15 billion.
Founder: Larry Page and Sergey Brin
They started their business from a garage. Larry and Sergey started on a name BackRub. But Larry and Sergey decide that the BackRub search engine needs a new name. After some brainstorming, they go with Google — a play on the word “googol,” a mathematical term for the number represented by the numeral 1 followed by 100 zeros. The use of the term reflects their mission to organize a seemingly infinite amount of information on the web.
Founder: Andrew Gower
He started From a bedroom in his parents’ house in Nottingham.
He was involved in coding for games since his childhood. He had a penchant for dungeon gaming. He initially started Runescape as a hobby, and later monetized his website and turned out to be a successful business venture.
4. PopCap Games
Founders: John Vechey, along with Brien Fiete and Jason Kapalka
Their Journey is started from his office. John Vechey, along with Brien Fiete and Jason Kapalka founded Popcap games in the year 2000. They earlier worked with internet gaming sites like flipside and pogo. Their first gaming product was Bejeweled, which became a big hit, and received numerous awards.
Founder: Jack Nickell along with Jacob Dehart
They started From a studio apartment. Jack Nickell along with Jacob Dehart ( both college dropouts ), started threadless when they were still working on their regular job. Both the partners put a modest $500 as their initial investment. Now the company has the annual revenue to the extent of $50 million.
The right determinant of e-business success is the same like any offline business. You have to have a great idea, you have to have a business plan, there should be a value proposition for prospective clients and you should have belief in it and your ability.
Getting online is becoming cheaper and easier thanks to the emergence of new technologies but marketing on the Internet is becoming more expensive. Take your business online now, before the marketing costs become way too expensive for small companies.
Have you previously invested in an online business or are you considering it in the future? Share your thoughts with us in the comment section below.