Why Start An Internet Business?
One of the most common and basic questions people ask about Internet businesses is, “Why Internet business?” What’s so beneficial about an online based business over other business models? What’s all the online hype about?
If you’re thinking about starting your own Internet business, or have just ventured into the world of making money online and need a little more confidence knowing you’re making the right decision, this post will help. Here are 6 fundamental reasons why you should start an Internet business.
- There’s a world wide audience (i.e. your market isn’t limited by physical location)
- You leverage the growth of the Internet and its usage
- There’s location independence (i.e. you have the freedom to work from anywhere in the world)
- It’s much easier to automate business processes
- Internet businesses make money even while you sleep
- It’s inexpensive to start an online business
Reach Customers Around The World
The Internet has revolutionized the world we live in and has made almost anyone and anything accessible on the web. It has indeed made the world more flat. By having your own Internet business you have the distinct advantage of being able to reach more people. You aren’t limited to customers within a certain geographical area or demographic.
The size of your market has a direct affect on your bottom line and how successful your Internet business can or will be. With the Internet, there are no barriers or ceilings, and the entire online world is a potential customer.
Leverage The Growth Of The Internet
Unless you’ve been living under a rock for the past decade, you already know how the Internet and its usage are growing exponentially every year–even every single day!
More people are going online these days to make high ticket and lower cost purchases everyday. It makes perfect sense to be where your customers and prospects are. Failing to be on the Internet would mean leaving money on the table.
You Have Freedom To Work From Anywhere
The beauty of the Internet is that is can be accessed from anywhere in the world (Ok, if you’re going to be critical about it, anywhere in the world where there’s Internet!) With an Internet business, you can work from an office, a coffee shop, your home, or on the other side of the globe.
To me, this is one of the biggest advantages of running an online business. It gives you the freedom to make a living without physically tying yourself down to a specific location. If you’re like me and you like to travel, I’m sure this fact is as appealing to you too!
It’s Easier To Automate Your Business
With the growth of the Internet and the rise of Internet entrepreneurs has also come the rise of web applications and software that make doing business online much more efficient and effective. For example, using online based shopping cart programs, order processing, fulfillment, and customer relationship management can be fully automated so that an Internet business owner has to work only a few hours a week.
With more automation (and less manual work), there is also less room for human error with calculations, order processing, and customer support issues.
Internet Businesses Make Money While You Sleep!
Because Internet businesses can be automated; the Internet is always available; and because people from around the world in different time zones are always looking for information, services, and products to buy online, it’s a reality that you can make money doing absolutely nothing! You can be sleeping while bringing in sales!
I love the fact that I can create an e-book or online training program, for example, and have it available online for sale 24 hours a day, 7 days a week. There have been numerous occasions where I have woke up to check my email and learn that over a dozen of my products were purchased while I was asleep. (Ahhh, the beauty of passive income.)
It’s Inexpensive To Start An Online Business
Unlike typical (offline) entrepreneurs who have great business ideas but need to raise capital from friends, family, or investors, starting an Internet business does not require a lot of money. Of course, there are certain types of online business models that require a lot of money (such as if you were going to create a custom website from scratch with a ton of interactive features and fancy graphics).
However, the vast majority of online entrepreneurs can start a business with a small budget of around $500 to $1000 and can reach a return on their investment and become profitable in a matter of weeks or a couple of months. This is a reality, and not a far-fetched dream.
My first product was an e-book. I didn’t spend any money on the e-book. It did take some time for me to finish the book (about 2 hours a day), but it didn’t cost me anything. Then, I spent less than $500 on a website and website hosting. I sold the e-book on my website using PayPal (also free–they take a small percentage of sales), and in my first week I made $2,000+. True story! To this day, the e-book generates good passive income for me everyday. (I was amazed, and this positive experience might explain my slight obsession for Internet businesses. )