For those of us who have an entrepreneurial spirit, we know some advantages of owning our own business: you get to be your own boss, make your own schedule, and do not have to answer to anyone. And with power comes a responsibility that most of us are willing to work hard to maintain.
Being an entrepreneur is great, but what about online entrepreneurs? What are the advantages of taking your business online instead of having a storefront?
We are here to give you the details.
1) Next to No Overhead
When your business is primarily online, you do not need to worry about the overhead factors of a brick-and-mortar store. You do not have to stress over rent being due and even hiring many employees (if any) to do the work. Mostly, you just need a laptop and an internet connection.
2) Minimal Inventory
With your business being online, this means that most of your products are online, as well. Many online companies sell content like workouts or magazines, or if they have a product, they use a technique called drop shipping.
Dropshipping is when someone orders a product from your website, you buy it from a third party, and they ship it for you; you can click to find out more.
So, not only do you not have to worry about rent, but you also do not have to worry about buying a place to store products. Who knew being an online entrepreneur was so great!
3) Freedom and Flexibility
Since your business is online and all you need is a laptop and internet connection, this means you can work from almost anywhere and make your own schedule.
For example, if you have a freelance writing business, you can determine when you will wake up for work, depending on how many clients you have that day, and if you want to work from the coffee shop or travel while working, that is possible.
Since you have no inventory, a minimal amount of employees, and no actual storefront, you are free to do as you please. But, make sure the work gets done!
4) Reach More People
Since your business is online, you can reach a broader audience from all around the globe. Plus, the way you can market on the internet is endless with Google ads, social media, networking in groups, and message boards, making it possible to get more eyes on your business and make more sales and money.
5) Transactions Are Easy
Being online makes transactions easy because all you need to do is set up a secure page on your website for payments or work with a company like Paypal for people to check out and buy their items securely.
You will not have to deal with cash, and you will get paid quicker since transactions online are almost immediate or take just a few days.
As you can see, being an online entrepreneur has many positive aspects to take advantage of!
