Four reasons why online businesses are the best investment entrepreneurs can make.
1. Offers incredible scalability
Scaling any business is not easy, whether it is a brick-and-mortar location or an online business, but an online business has advantages. For instance, a brick-and-mortar retail store has a defined audience, typically a radius from the business location. An online business isn’t restricted by this and can market to a worldwide audience.
2. Provides limitless freedom
Many entrepreneurs are drawn to online businesses because of the freedom they offer. Modern technology, laptops, tablets, business apps and VOIP communication systems are just some of the tools that allow businesses to be operated from any location.
Next time you are in a Starbucks take a look around -- I guarantee someone is working on their online business or startup while connected to wifi and sipping their favorite coffee.Not being tied to a particular location or desk from nine to five can be very empowering!
True entrepreneurs respect the freedom and understand that the hard work is well worth the ability to spend more time with their families and partake in activities that most miss out on because they are part of the nine to five grind.
3. Low overhead and high margins
An online business will often allow you to eliminate some of the huge costs associated with an offline business. Not only can you eliminate things such as pricey office or retail space and long-term lease commitments, but you can also eliminate having to tie up your money in stocking inventory.
4. Access to a worldwide market
The beautiful thing about an online business is the ability to run it 24/7 without boundaries. There are no geographical boundaries and there are no specific hours of operation -- an online business can produce revenue around the clock, even while you sleep.
Have you previously invested in an online business or are you considering it in the future?credit:Thomas Smale
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