Did you know that the online industry is growing by nearly $3.46 trillion in 2019, up from $2.93 trillion in 2018, according to the forecast from Internet Retailer, a Digital Commerce 360 brand?
I am an entrepreneur; therefore, I am constantly exploring new business opportunities, but I’m no ordinary entrepreneur I aspire to be an online entrepreneur or sometimes known as a digital entrepreneur. With the 4th industrial age closing in and artificial intelligence growing, I saw it fit to become an online entrepreneur instead of a traditional one.
Starting a business can be difficult and can sometimes end up being a complete money-sucking nightmare due to expensive overhead, slow scalability and low margins. Online businesses, however, can be very appealing because they don’t have the traditional challenges that most new businesses come across.
If you’re like me and are interested in starting your own online business, there’s no time like the present. We live in a golden age of wealth. A time that’s ripe with opportunity and the potential for online growth. Thanks to the internet, smartphones, the amount of activity being conducted online has experiencing explosive growth.
It is also quite evident how most brick-and-mortar stores and business have made the transition to online businesses.
Here are 6 reasons why I think building an online makes sense
- Your business will be location independent – Can be run from anywhere in the world.
- Low start-up costs – online business can have no or low start up costs than a brick and mortar business.
- Low overheads costs – there are costs to running an online business, but they are far low than those of a traditional business.
- You can choose to run your business full-time or part-time – an online business does not need you to be full-time unless you choose to.
- No staff required, unless you choose to, and they can be virtual – having virtual assistance is growing and works to your advantage.
- Its scalable – Scaling any business is not easy, whether it is a brick-and-mortar business or an online business, but an online business has advantages. For instance, a brick-and-mortar retail store has a defined audience and location, but online business isn’t restricted by this because you have an opportunity to market and reach a wider audience – world-wide reach, as you are not bound to your local location/country alone but have a platform to reach people from other countries.
51% of Southern Africa is online and 31% is on social media daily and around 52.4% of the global online population access internet from their mobile devices and more than half of the global population is estimated to go online using mobile devices by 2020.
You are probably one of those individuals, so why not take advantage of this growing industry and be a contributor instead of just being a consumer.
One of the biggest reasons I am building an online business is because it will allow me the freedom to live and work from where ever – Time Freedom, which will lead to a #Default to Designed lifestyle.
Look out for the next blog when we look at different types of online businesses.
Remember you are awesome !!
connect with me or comment about your thoughts on starting or running an online business.
“ If your business isn’t on the Internet, then your business will be out of business.”