7 Reasons to Start an Online Business

Starting an online business can definitely change your outlook for the better in today’s atmosphere of increased reliance on ordering over the internet and enforced social distancing. Many of the reasons people choose to start an online business are self-evident, but others take a good deal of soul-searching.

 Starting an internet-based business is possible, even if you can’t thumb-click your messages with lightning speed. What matters is the content of your communications — or lack thereof — to establish cordial customer relationships. Don’t let age handicap your dream. You can start an online business regardless of age, physical condition or thumb-typing speed. There’s an app for dealing with the hard part of online communications. The following 7 reasons to start an online business cover most of the basics.

1. You Can Choose Your Level of Social Interaction

Face it — coronavirus concerns will define this generation. Heightened concerns of weaponized viruses and emerging biological threats will make social distancing our current reality for some time to come. Starting an internet-based business makes sound financial sense given the threat of daily social interactions in “real-world” business activities. An online business gives you a choice of whom to engage in live discussions. I recommend maintaining close digital relations with customers, vendors and suppliers.

2. You’re the Boss 

Everyone wants to be the boss, and that’s one of the most common reasons for starting an online business. However, being the boss isn’t always as rosy as most people think. You’re ultimately responsible for your website’s performance, the hacking of customer’s personal information and updating your content regularly. Nevertheless, being your own boss is ultimately more satisfying than working for someone else. It is 100 times better than the alternative because it’s the adventure that counts.

3. Starting an Online Business Can Be Done Cheaply

You can start an online business with a computer, domain name and web-hosting service. You can end up spending only $100 to $200 to reach a potential audience of millions of customers. Even if you don’t have any inventory of products to sell, you can enter into an associate agreement to market products that other companies maintain and ship as needed.

Depending on your personal experience and skills, you can create your own products and services to sell at higher profit percentages. Digital information products are extremely popular these days, and you can find opportunities for affiliate marketing that abound on the internet. You can also earn commissions and advertising revenue just by recommending certain products to your followers.

4. Enjoy Time and Work Flexibility

Depending on your business model, you can work the hours you want. You can work as many or as few hours as your schedule and motivation allow. You can build your business gradually while working part-time until sales figures guarantee a healthy salary that allows you to quit working your full-time job.

Work flexibility allows you to work when you feel more productive — whether it’s on week-ends, in the early morning hours or during the hours when internet use drops so you don’t have to worry about losing your hotspot mobile phone connection.

Don’t think the flexibility means that you don’t have to work. You can choose when to work, but you can’t choose to ignore your business too often. Choose a schedule that works for you, and follow it assiduously. Working basic hours makes sense for continuity of business, and you can put in extra hours when you need to generate more income.

5. Work Free of the Demands of Commuting

If you ever had to make a long commute to and from work, you understand. Commuting is an entirely different world that you’re exposed to twice each day. Fighting traffic daily can change your whole personality and not for the better.

Commuting wastes some of the best hours of the day and increases your daily expenses. Exposure to more people while taking public transportation is also risky — you could get sick even if you don’t develop a life-threatening disease. Most people rank commuting in the top five reasons for hating their jobs.

6. You Can Eventually Outsource the Daily-Grind Work

As your online business grows more lucrative, you can outsource some of the work by hiring independent contractors and even regular employees to handle some or most of the daily work routine.

Many online business owners prefer to do the work themselves, but outsourcing can expand your business by adding new products and services. It makes good financial sense to reinvest some capital to outsource a wider range of products and services. You can outsource only the most boring jobs while keeping the big income-generating activities close by.

Today’s markets are full of on-demand workers who work unusual telecommuting shifts as needed, so finding qualified help isn’t difficult. You can play around with the idea, and maybe you’ll find the right formula for generating more income than ever while limiting the work you personally do to those things that most interest you.

7. Enjoy Greater Rewards with Greater Efforts

One of the biggest business turnoffs is that people can seldom expect a fair shake. Companies often fail to reward their most productive salespeople because they figure that the sales are based on advertising, a high-quality product or simply being in the right place to make sales. Managers and executives tend to promote their friends and cronies, playing politics.

The larger the company, the more likely that politics will play a major role in promotions. Some questionable staff members always seem to rise to the top. When you own an online business, your rewards are directly proportionate to your sales efforts. When you land a sale or broker a deal, the profit from that effort is clearly yours. The harder you work, the greater your returns. It’s a simple concept that’s often ignored in large companies.

If office politics disgusts you, ownership of an online business is right for you. Of course, your mistakes are also your own, but it feels better to stand on your own efforts than falling prey to company politics over and over again.

Freedom from Pandemic Economic Concerns

It’s a fact — more people worry about the financial risks associated with the coronavirus than the risks to their health. Company layoffs and downsizing are very real results that most families face during the global pandemic. Online businesses usually conduct business without human efforts. All you have to do is maintain communications to earn a hefty salary. You can hire on-demand laborers for necessary human hands, and outsource your shipping to the product manufacturer. You can successfully grow your online business no matter what turns the virus takes. You have the freedom to operate without hiring staff, and you can pivot to take advantage of increased ordering opportunities as they arise.

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