Owning your own business comes with obvious perks. You’ll experience a sense of personal fulfillment and independence. According to employment screening company Total Reporting, 77% of small business owners are happy with their business and plan to keep it running.
There are some advantages to owning an online business one over a traditional one aka ‘bricks and mortar’ store. If you’re on the fence about starting an internet-based business, we’ve created this list to help guide your decision. Here are 3 reasons you should start an online company.
1) It’s Inexpensive
While some online businesses require inventory, you have a lot of flexibility. You don’t need a large warehouse or office space to get started.
The following online niches require little more than a domain name and a service to host your website:
- Graphic design. Create graphics and logos for individual clients and other websites.
- Photography. Showcase your work online and sell digital copies of your pictures.
- Consultancy. Offer advice on anything, including financial investments, team building, and career advancement.
- Programming. Sell your work to companies who need it. Or, you can create specific programs based on clients’ instructions.
- Blogging/article writing. Start a blog or write content for other websites.
- Information. If you’re knowledgeable about a specific topic, create an educational product. This could take the form of an e-book or instructional video.
Once you’ve established your presence online, you can expand where needed. Invest in additional resources to help you, such as a higher-quality camera or a few team members.
2) It Offers a High-Income Potential
With an online business, you don’t have to be present for every transaction. As long as you spend your working hours productively, you can profit during all hours of the day. Hone your efforts on income-producing activities to lower the number of hours you need to work and maximize your income.
You can take advantage of automation tools to further increase your productivity. Create, schedule, and post social media posts in bulk. Send out automated email campaigns to potential or past clients to stimulate interest in your company.
3) It Allows for Creative Freedom
Even if your idea isn’t original, an online business allows for a lot of creative freedom. You can determine ways to:
- Make transactions run smoother
- Store data more efficiently
- Interact with clients in a more engaging way
- Improve clients’ overall experience
As an online business owner, you have control over these aspects that let you stand out from your competition.
DIY or Choose An Agency
If you’re tech-savvy, making these improvements can be a fun puzzle to decipher, otherwise seek assistance from a digital innovation agency. There are many businesses in this field, so before choosing your provider view, the agency’s satisfied clients case studies say Icreon.
There are plenty of ways you can partner up with other businesses to attain true innovation. Icreon, for example, has had many successful marketing campaigns with mid-market operations and non-profit organizations. Icreon helped Shorts TV, a large distributor of short films, better manage their licensing information. The help of a digital innovation agency has allowed Shorts TV to stand out as an industry leader.
As an online business, you can constantly innovate and change how your site operates. Whether you do it alone or with professional help is up to you and what’s right for your company.
If starting your own online business sounds intimidating, you don’t need to start with huge steps. Begin by planning out your company’s goals and determine what you’ll need to get started.
Start building your site with an affordable website builder like Wix or GoDaddy. For financial security, you can begin these initial steps while still working at your normal job. Building your online business will be less stressful if you aren’t relying on its initial success for income. Once it’s stable enough, you can turn it into your full-time job.