4 reasons why an Online Business is a great investment.
Entrepreneurs are an extraordinary people who are constantly challenging and exploring new ideas for business opportunity. Usually these ideas end up being a money waster due to the daily ‘old school’ challenges of exorbitant overheads, massive competition, very slow scale up and low profit, especially if, as they always tell us, Location is key. Online businesses and working from home don’t have these mundane monthly commitments to fill. Here are 4 reasons why in today’s world, where competition is high and jobs are scarce, why times are changing.
- Higher returns and much lower overheads.
Imagine what it would cost to start up a business on a high street location, or purchase a franchise? Essentially you are looking at capital expenses of around a quarter million Dollars ($250,000). On top of this you have monthly rentals, long lease commitments, Staff employment, security as well as stocking your product in order to make a return on your already spent money. Online business eradicate most of these initial outgoing costs therefore your return on your investment is almost immediate. Often we send Clients direct to our website and they order online, cutting out the middleman and making the transaction quicker, faster and easier.
- Incredibly fast scalability
Starting any business, whether it is an online business or a traditional brick and mortar, is not as easy as we seem to think at the beginning. Having a Location compounds your target audience to a radius within that area but an online business does not have these constraints and the reach is global.
I stared my online business expecting the traditional ‘walk in’ customers and when that did not happen I had to radically scale up my business by strategizing and leveraging my marketing campaign and when this happened, it opened up all doors to a vibrant rapidly growing brand.
- Provides infinite freedom
The traditional method of working 9-5 in a particular location has become unproductive and uninspiring. The freedom to be able to use mobile devices has opened up the opportunity to operate a business anywhere. Everywhere you turn people are on their laptops, tablets or smart phones maximizing their time during every single spare minute available. The difficulty is to balance and commit to working from home as a real business, not allowing for interruptions and dedicating the time to get the work done. The balance comes when you have the freedom to choose what sports game you want to go watch your kids play, when normally, this would not be possible. Your WHY determines how hard you work to get the privilege of doing the things that will be forever remembered.
- Global Access
The true beauty about online marketing is that there are no office hours and your business can operate 24 hours a day, 7 days a week, 365 days a year. People around the globe are constantly looking for new opportunities to enhance their lives and this works consistently without hindrances of working hours or cross border challenges. There are nearly 20 million network marketers in the USA alone. That is a few more customers or clients that you would get access too, in comparison of who would walk past your shop window on the high street. The exposure online far outweighs any marketing strategy you could have doing it the ‘old school way’.
The power of Social media and using the tools available is enormous. You have direct access to the whole world all from your portable devices. The ability to target certain areas and certain demographics, gives us the ability to expand far wider than ever before giving us such an amazing opportunity that we may ordinarily not be in a position to get.
What a privilege!