Consider starting an online business

Is an online business for you? Let’s find out…

The Internet has changed the world as we know it, especially the way that most people do business. If you want to start your own business, why not take it online? eCommerce is not just for people in finance jobs  – anyone can start an online business with the right motivation. So in case you need a little bit more of a push in the right direction, here are some reasons why you should start an online business:

1. Global market

Online businesses aren’t limited to geographical locations. You have a potential audience of more than 800 million people who are free to shop anywhere at any time. The weather, trading hours, neighbourhood, and transport infrastructure will never get in the way of your online customers, no matter where in the world they’re based.

2. Niche products

Depending on what product you put out there, you get to decide how much or how little competition you’ll have. Once you’ve created the demand for your niche products, you are – again – not bound by physical location, but can access your (even relatively) small market anywhere in the world.

3. Very low overheads

Starting up a traditional small business will require physical premises, office equipment, business expenses for petrol and communications (when chasing down valuable customers from one side of town to the other), and since you’ll probably require an office manager while you’re out on sales calls, you’ll need to pay salaries too. An online business can be run from your home while you’re still working towards becoming profitable – all you’ll need is a decent computer with high-speed Internet and the tech savvy to go with it.

You won’t need to spend much money (if at all) on traditional marketing, as a lot of online marketing can be done directly from your website, blog or social media sites, and paid-search marketing is a lot more cost-effective than print, TV, billboards and radio ads.

Even when your business does grow and expand, you may still not require a physical office other than your home office. Since an online business can be managed from anywhere with access to the Internet, employees (the right kind of disciplined employees) can telecommute, and other channels of face-time (such as Skype) can be set up for check-ins and meetings.

4. Personally rewarding

Starting your own business online, which costs almost nothing to get going, yet can end up being extremely profitable will not only be massively rewarding on a personal level, but the financial rewards have the potential to be overwhelming. Perhaps you are sitting on a goldmine idea – it’s definitely worthwhile exploring whether your own online business is the way to go.

What have you got to lose?