Here are Some of the Benefits of Having an Online Business
The sweet life, earning money from your laptop without having to commute to work, carry your laptop anywhere and earn those dollars without having to go sit in an office listening to a demanding boss that won’t leave you alone because you haven’t finished that important report.
I recently wrote an article about digital businesses being the way forward for single moms and I stand by the importance of having an online business, especially at this time. No, there is no one size fits all when it comes to online business however, having some kind of digital business could be beneficial, especially when everything in the physical world shuts down.
I know many women who ran brick and mortar stores before the pandemic, no online presence, just a struggling Instagram page.
When the pandemic hit and turned the world upside down, they had to scramble to put up a makeshift website to sell their products. What about if they already had an online business? Zero transition, just carry on as normal.
The truth is, the growth of E-commerce has been massive and according to research by Statista, it has grown by approximately 300% in the past three to four years. The Internet is limitless, there are endless possibilities when it comes to building a thriving business online.
There are numerous benefits of having an online business and here are some of those benefits.
Low Operating Costs
The operating costs of an online business are much lower than brick and mortar businesses. Some years ago, I had a brick and mortar store, a few people popped in here and there however, most of my sales were online. I decided to shift the business to an online shop instead. I slashed my overall operating costs by more than half.
With an online business, you are always open. Customer support might be closed but customers can purchase from your store or buy a course or eBook at any time of the day, which means you could essentially make money in your sleep.
You can automate systems to streamline your business and make it easier to run.
When you operate an online business, you have a massive global reach. When your business is brick and mortar, a store for example, unless you have a website that offers global shipping, you can only reach a local audience. Your business becomes boundless when you create a solid online business.
Operate From Anywhere
One of the things that make running an online business super satisfying for me is that I can literally pack my laptop and run my business from wherever I choose to run it from. As long as I have a decent Internet connection, I’m good to go.
Flexibility is a big one, no nine to five hours so you can choose your working hours which gives you the flexibility to spend more time with loved ones. Obviously, when you first start your online business, you might have to burn the midnight oil and dedicate more hours to getting your business off the ground however, when your business takes off, you get to enjoy that flexibility that the traditional nine to five or even a traditional brick and mortar store can’t give you.
I currently run my content writing business from two locations, the UK and Ghana. I have to admit, I’m living it up and I’m not ashamed to say it. I also have a few side hustles that help me make an extra few thousand dollars per month, this is one of them>>>One of my side hustles
Running an online business is far more flexible than running a traditional brick and mortar business, although there are advantages to both. Online businesses offer a huge global reach, 24/7 access and you can be location independent if you chose to be. Even if you have a brick and mortar business, having an online presence or building an online business might be the key to securing your financial future.