You have felt the pull. You want to make something great. That entrepreneurial spirit is pushing to come out – and you’ve got a good idea. You think this idea can make you money – in fact, you know it could make you money. But what’s stopping you?
Starting an online business offers you independence, freedom and flexibility, and is the perfect platform for your product or service to reach customers from around the world.
Need more convincing? Let’s get started…
One of the benefits of an online business is that it can cost as little or as much as you want.
If you don’t have money to spend, set up a free website to test your idea first. This will provide you with valuable market insight (like the kind of audience you’re attracting), which you can use to your advantage with future business decisions.
When it comes to the start-up costs of an online business, fees will vary depending on what you hope to achieve. First, decide how much money you are comfortable investing, taking the below into consideration:
- Website build
- Business name registration
- Initial inventory costs
- Materials and equipment
- Marketing services
Still can’t figure out social media marketing? Learn about how to get more out of social media marketing.
Work whenever and wherever you want
Whether you’re a stay at home Mum just looking to make some extra money or want to turn your passion into a career, a successful online business means having the flexibility to work hours that suit your lifestyle.
You can choose to maintain your existing work schedule, work at night, only on weekends or for just a few hours each day. Either way, the money you make isn’t determined by the hours you work, but rather how productive you are during those hours. When you’re putting time into your own business and watching it grow, it’s encouraging to work more efficiently, which may ultimately mean making more money in less time.
Earn money while you sleep
Yes, that’s right – you could be earning money while you sleep. An online business can thrive beyond your usual 9 to 5 – and while you sleep, your site will be available for clients to browse and buy 24 hours a day. This is where your online business has a distinct advantage over a bricks-and-mortar store.
With an online business, you have access to customers from around the world who will be able to buy products and/or services at all times of the day – and no closing hours means more happy customers. While your customers will be pleased to have access to your business 24 hours a day to purchase with the click of a button, you and your bank account will be just as happy with the earnings coming through the online cart.
You can find just about anything on the internet and there is a pool of unlimited information you can access when it comes to a user’s online behaviour. This gives you two huge advantages over traditional business.
- You can you test your product or service before investing big money
- You get to know your customer and can tailor your product or service accordingly
A number of factors come into play during a customer’s decision process to make a purchase, so testing the likeliness of your business idea being a success eliminates this risk. This also allows you to identify what road blocks there may be to your customer actually making a sale. You can then tweak your product or service to better meet your customer’s need, whether that be including more detailed information on a web page or offering an additional payment method.
Choose who YOU get to work with
Having the freedom to choose who you work with and what projects you take on is truly liberating. You are your own boss, and your business = your choices. Choose what suppliers you get to work with, choose who you want to hire or outsource to, choose your hours and choose your pay-rate.
How you decide to market your own business and differentiate yourself as a business owner will also determine the kind of clients you attract. This leaves a lot of room for creativity. Your online business can be seen from all around the world – don’t be afraid to think big.
Considering starting your own online business or already started the journey, but need that extra bit of support? Get the tools you need to launch your business idea and create a life you want with our range of products. Find out more here.
I’ve created Hello Social Media, the guide packed full of social media goodness to help you and your business succeed with social media. I don’t hold back – I have lived through the experiences, I have done the research, and now I share it all with you. Plus hear from other female entrepreneurs who share their experiences with you.