Have you ever asked yourself, ‘Is an online business a good investment?’ Or even better, ‘Should I start an online business?’ If you answered yes to either, and if you’re actually looking for some solid reasons as to why you should consider starting an online business for yourself, then this article on the top 10 reasons to start an online business is for you.
In this post we’re going to make the case, as to why starting an online business is actually one of the best investments you can make for yourself, especially in this day and age. So, if you’re ready to dive into some really good reasons as to why you should start an online business as an investment, then let’s dive right in.
10 REASONS TO START AN ONLINE BUSINESS
1. Unlimited Freedom
An online business is attractive because of the freedom it offers. With technology becoming more and more mobile friendly, online business owners can free themselves up to work from wherever they want.
Walk into any coffee shop these days and you’ll see plenty of people grinding on their start-ups while consuming their cups of joe. It’s a great feeling too, knowing you can virtually work from anywhere in the world, at your leisure, and still make money regardless of your location.
The best part though, is that when it’s your business, you can’t get fired. And when you can’t get fired, that’s when you truly have freedom.
Freedom, it’s all about freedom.
2. You Can Start Part-Time
Building an online business takes time and effort, but the great thing is, you can get started part-time. You don’t have to risk your livelihood to test out those great ideas that have been keeping you up at night.
You can launch your online business on a weekend, and work on it in your free-time. You can build your online empire and start cash flowing while still earning money from your day job.
Then, when your business starts to gain traction, and the big money starts rolling in, you can decide if working your 9-5 is what you really want to do with your life.
But you get to choose. When you build your online business part-time, you can get started on creating your own freedom, giving yourself options.
Options, options, options, it’s all about options!
“I’m Working Full Time On My Job And Part Time On My Fortune.”
– jim rohn –
3. Low Overhead and High Margins
If you have a good chunk of money set aside, you can get started with your own money. The start up costs for online businesses are extremely low, so if you needed to borrow money, it shouldn’t be to difficult to secure.
Just so you are aware, there is always a risk of losing money when you start up a business. So, buyer or creator beware.
Fortunately, these days, it doesn’t cost much at all to get started. Were’ talking a few dollars a month of overhead costs. And a really big perk, is that an online business can be operated without office space, retail space, or even storage space for inventory (drop-shipping).
The main thing you risk with starting an online business is your time and effort. And time and effort are things we all have.
So, with a small investment to get you started, and enough time and effort invested on building your online business, you can eventually reap massive financial gains.
4. Provides Unbelievable Scalability
Online businesses are attractive because they are scalable. Brick and mortar businesses are scalable too, but they are dependent on location, making them much more difficult to scale.
When we say scalable, we mean a businesses ability to quickly change its size or income.
Every brick and mortar business depends on a limited number of customers that live within a certain proximity to that businesses physical location. This means a brick and mortar business is limited by the number of customers living within a given range from it’s physical location.
An online business on the other hand, can sell to anybody anywhere. An online business’s reach is limited only by the extent of their marketing campaign.
This means an online business can scale to incorporate as many people as it wants, all over the world.
5. Income Security
Out of the 10 reasons to start an online business, this one is probably our favorite. When you build your own successful online business, you are in control of your income. You get to decide how much money you want to make, and you can’t get fired.
Obviously, you can’t snap your fingers and demand a 500% pay raise. But, you can change up your business operations to reach your unique goals. On top of that, you keep making money as long as you are in business.
If your only income source is from your day job, then you put yourself at risk financially. But when you have additional income coming in from your online business, you can hedge against the insecurities of the job market.
Build an online business and you build your very own financial fortress.
6. You Can Automate It and Semi-Retire
Everyone dreams of retiring or semi-retiring early. But in reality, most never come close to having enough money to retire and live off of their retirement savings by the time they reach retirement age.
When you build your own online business, if you are smart about it, you can eventually automate it. Once your business is automated, it can become your very own low-maintenance virtual ATM.
Of course, this is a lot more plausible for the majority of people, than putting aside $1,000,000 dollars by the time they retire.
By the way, if you are lucky enough to save up a million bucks, and you follow the 4% rule, (which is a retirement rule to follow so you don’t run out of money before you die), that million will only get you a lifestyle that $40,000 per year can afford.
Of course $40,000 per year is not too shabby, but, traveling the world and trying to “live up” your retirement years on this amount of money is going to be, well…challenging.
Check this out. The median retirement savings of families between 56 and 61 is only $17,000. So, there is a good chance you need to start socking away tons of money a.s.a.p., or start grinding on your new online business.
The choice seems obvious to us. Do both!
7. You Can Do Something Fulfilling
Starting your own online business is something everyone should do because really, everyone has their own secret calling that they wish to be living.
We believe everyone has a purpose, and special gift that can help other people. When you start your own online business, you get to stop putting off those projects that actually use your gifts , and really bring you to life.
On top of this, when your business starts gaining traction, you give yourself the opportunity to dive into a career that truly fulfills you. You can get paid to play.
Imagine that, every single as a play day. Sounds fun!
“Find Something You Love To Do, And You’ll Never Work a Day In Your Life.”
– harvey mackay –
8. You Take Back Control of Your Destiny
When you build your own online business, you get to participate in the creation of your own future. You gain complete control of your destiny.
Sure, your business may face it’s challenges, but obstacles are as permanent as you want them to be. If you fall, you can always get back up. If at first is doesn’t succeed, you change tactics and try again.
But, your business can also succeed, especially if you never give up. Truth is, if you are seeking to create a lifestyle business, your chances of succeeding are much higher.
Online lifestyle businesses are created to cater to the owner’s specific lifestyle. Some owners are happy making just enough money to pay the bills, buy a few tacos, and travel across the world, while others want to build huge online gold mines.
Your success is all up to you. The effort you put in will be rewarded. No, it won’t be instant. Business and instant gratification don’t belong together, unless of course, you are creating a business that offers instant gratification. (Usually a good approach for most businesses).
So long as you put in the time and effort to learn the rules of the game, and then execute around those lessons consistently, mark our words, you will win.
When you invest in your own business, you give yourself a shot at becoming the captain of your own ship. And when your the captain, you get to decide on the destination.
9. You’ll Become More Valuable
When you start your own internet business, you’ll learn all kinds of new skills. You’ll learn about marketing, internet technology, sales, writing, sales copy, graphic design, conversion rates, analytics, etc… You’ll learn loads about the business world.
In fact, the more you want your online venture to succeed, the more you’ll end up learning.
You’ll look at things through a different lens. You’ll gain insights into consumer psychology and business that you didn’t have before. Overtime, you’ll become more and more valuable, both to you and your internet business and to whom ever employs you.
No doubt, your business may take a while to take off, but in the meantime, so long as you don’t quit, you’ll become more and more valuable to the market place.
Like the saying goes, “The more you learn, the more you earn.”
10. Your Online Business Never Sleeps
Most brick and mortar businesses can only stay open for a limited time. They need to close-up-shop at the end of the day because their regional customers eventually have to go home and catch some zzz’s. With no customers around to buy their products or services, most business need to shut it down at the end of each day to avoid wasteful operating costs.
With an online business though, that’s not the case.
Your online business can stay open to sell your products or services 24/7/365.
Why? Because an online business can easily take orders from any customer, anywhere, at any time of the day. While you sleep, people on the other side of the world are awake and hunting online for your solutions to their problems.
This means you can make money while you sleep. Imagine waking up to see 5, 15, or 20 sales your internet business made, all while you were cozied up in your bed counting sheep.
“If You Don’t Find a Way To Make Money While You Sleep, You Will Work Until The Day You Die.”
– warren buffett –
So, Is An Online Business a Good Investment?
So, is an online business a good investment? Yes, it is a great investment. In fact, we believe it is the best investment.
It truly is the best investment because it has the potential to yield back to us way more than we invest in terms of money. But more importantly, it can yield back to us that which is much more important than money; our time.
Learn More: The Virtual Millionaire
To recap, the top 10 reasons to start an online business are:
- Unlimited Freedom
- You Can Start Part Time
- Low Start Up Costs
- Scalability
- Income Security
- Automation Potential
- Do Fulfilling Work
- You’re In Control
- Personal Growth
- Works For You 24/7
So, if you want to increase your chances of making more money, if you want to build something that may eventually lead you to being able to spend your days doing what you love, all while creating something that which will allow you to make your own money on your own terms, then starting your own internet-based business is a good way to go.
Of course you’ll face some challenge as you build your online business up, and it may even take longer then you think it will take. And of course, nothing is guaranteed, just anything in life.
But we believe, without a doubt, that building your own online business has the potential to pay the best dividends.
But, it all starts with laying that first brick!
Till you reach your aims,
STRIVE
PS – If you have the time and the will, building an online business is a great investment. We hope we made a strong enough case with our top 10 reasons to start an online business, however, if you’re looking for more resources related to doing so, try these: