With the country in such a state of financial turmoil, many people are unemployed. If you currently find yourself unemployed, you may be thinking of opening a business. If so, you have undoubtedly looked into the digital aspect of it. All business should have a website that at least includes contact information and no doubt your business has one (or you plan to). However, although traditional brick and mortar shops are what spring to mind for many people when they think of opening a business, more and more entrepreneurs are going the online only route. There are several reasons for this.
If your business is online only, you never have to worry about paying rent or utilities for a store, dealing with loiterers from other businesses or anything else that comes along with having a physical location for your business. Worrying about these expenses on top of home expenses is what stops many people from taking the plunge to follow their dream and become self-sufficient. With an online business, this is eliminated. The amount of money needed to start an online business is often much less than a traditional brick and mortar business, too.
Increase Your Reach
With a physical location, there are only so many people you can reach. True, if you have a website, that reach is increased but many search engines may preferentially list your business in a “local” category if it has a physical address. This is great for local exposure but that would-be customer in Germany is missing out. And so are you.
Items Can Be Made To Order
If you have a traditional brick and mortar business, you need to have at least one item on display of every single type of item you sell. And really, you need to have more on hand, in case somebody buys it. With an online business, all that is required is good high-quality photographs of the items you sell and eye-catching, attractive descriptions of them. If somebody buys something, you can make it to order. This saves you money and again decreases your overhead. Once you learn which products are most popular, you can always make sure you have a surplus of these particular items available without wasting time, space and money on items that don’t sell as well.
More Time With Your Family
One of the main reasons people want to start a business (besides wanting to be their own boss, of course) is to have more time with their families. With an online business, you can work from home. There is never a need to go into work. This reduces gas costs, wear on your car and the need for daycare if you have small children. You receive your orders at home and you fill them from home. For example: If you start an online bakery or create handmade jewelry, not only can these items be made from your home but your family can help you even if they have jobs outside the home or school during the day. This eliminates the need to hire employees or a helper and again, saves you money. It also promotes more time together for the family and really, isn’t that part of the reason you want your own business?
You Can Progress At Your Own Pace
Once you buy or rent that store in that prime location on Main Street, it’s sink or swim. Your business (and your dream) will either thrive or it won’t and there’s no way to know until you actually do it. By the time you find out there really isn’t a market for blinking ties with geckos on them, it will already be too late. All the market research in the world cannot tell you if your business will succeed. Many businesses or products buck the trend and do great despite what market research predicts and others flop despite indicators that they will do well. With an online business, you can truly test the market by starting small (even very small) and build your way up. You can go at your own pace, doing only what you are ready for.
Starting a business is a huge undertaking no matter how you choose to go about it. Starting your business online (at least at first) can make the dream a little easier to achieve. And if your business outgrows your ability to take care of orders at home, great! There’s no reason you cannot open a brick and mortar shop later, once you have built your business up. In this digital age, there is no reason your dream should have to wait.