In today’s world of opportunity, any business idea, market need, or new product could be turned into a fully-fledged business in months, even weeks, due to the ability to reach prospects worldwide using one special tool:
Every business is not the same in regards to the cost of creating a start-up. The traditional brick and mortar model has many costs but the average is approximately $30,000 and increases when considering office space, utilities, equipment, employees, insurance and a number of other factors before there is a return on investment which normally occurs in a time frame of 3-5 years.
In an online business, regardless of which business model it is, the start-up investment is substantially lower due to low operating costs, limited fixed expenses and the ability to have the business up and running in a short amount of time.
One of the biggest expenses in an online business in the past was website creation but recent developments in top website creation platforms have created user friendly platforms that have the ability to make professional websites for a few hundred dollars, in one day.
Owning an online business does not require many employees in the beginning stage compared to brick a brick and mortar business. If needed, there are many freelance platforms that have exceptional professionals to do tasks needed without going through a long serious phase of hiring people.
Employment online can be brief and efficient with one-time payments or ongoing relationships which make expenses much lower, and eliminates the concern of benefits for employees. After the startup phase is completed, (which could be as short as a few weeks) online marketing like SEO, PPC, and affiliate marketing gain instant results when done effectively which lead to a quick ROI.
One of the biggest reasons entrepreneur’s find online business most attractive is because of the freedom that comes with having an online business. An online business is running 24 hours a day, 7 days a week and can be taken to every corner of the world. Stress level is lowered substantially when a business owner doesn’t need to stay in a single physical location to keep an eye on how the business is doing or if employees are doing their job. Business can happen any hour of the day and the numbers show instantly to analyze performance.
The internet is changing the business world and more importantly giving entrepreneurs the ability to sell their service or product while slowly eliminating the traditional nine to five work day.