Entrepreneurs are a rare breed of individuals who are constantly exploring new business opportunities, whether they’re their own ideas or being pitched ones.
The majority of opportunities, no matter how good they might sound, 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 hurdles that most new ventures face. Here are four reasons why online businesses are the best investment entrepreneurs can make.
1. Offers incredible scalability
Not every online business is going to morph into a huge success with rapid exponential growth. Many entrepreneurs start an online business thinking customers are automatically going to find them and sales will pour in because they have a small footprint on the Internet.
They think a few tweets and some Facebook posts are all it will take to snowball an online business into a virtual ATM machine.
Scaling any business is not easy, whether its brick-and-mortar 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 and can market to a worldwide audience.
Once a successful marketing and advertising strategy is identified, an online business can simply open up its target and increase budget to grow very fast.
2. Provides limitless freedom
Online businesses offer freedom. 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’re in a coffee shop take a look around – someone is working on their online business while sipping coffee. Not being tied to a particular location or desk from nine to five can be very empowering.
Some entrepreneurs don’t know how to balance the freedom and fail miserably, while others use the freedom as motivation to work even harder. True entrepreneurs respect the freedom and understand that the hard work is well worth the ability to spend more time with their families and get other things done from nine to five.
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 like pricey office or retail space and long-term lease commitments, and you can also eliminate tying up your money in stocking inventory.
A drop-shipping agreement with the manufacturer or a manufacture-to-order arrangement can greatly reduce your financial-risk and will allow you to maintain more consistent margins with less upfront cost.
Imagine you sold hats in five colour variations. In a physical location you’d need to keep all of the variations in stock because you don’t know which hat people are coming to buy.
If the yellow hats don’t sell you are forced to discount them and take a loss. Selling the same hats via drop-shipping would mean you won’t be left holding unsold merchandise that you’ve already paid for.
4. Access to a worldwide market
The beautiful thing about an online business is the ability to run it 24/7 without geographical boundaries or specific hours of operation – and online business can produce revenue even while you sleep.
With a well thought-out social media plan, search-engine optimisation and paid media strategies, an online business can thrive. You have access to the entire world right at your fingertips. The luxury of being able to target specific provinces, regions and countries gives an upper hand to online-based businesses.
10 Businesses You Can Start Part-Time
Find your perfect match for a successful part-time start-up.
Start your part-time business today
- Public Relations
- Freelance Photography
- Corporate Videos
- Small Business Advertising Agency
- Writing, Editing and Proofreading Services
- Internet Marketing Consultant
- Web Design
- Tax Accountant
- Business Consultant
- Business Plan Consultant
Launching a company – even if it’s operated part-time – is all about drawing on your skills, talents and interests to create a viable business. What you know and what you’re good at form a good basis for a part-time business because these companies either become an extension of what you enjoy doing most or they are based on your strengths.
Working part-time while still maintaining a permanent job is time consuming and often exhausting, so choosing what you take pleasure in or are good at can keep you focused and motivated. The right fit is important when it comes to launching a part-time business. Selling a service rather than a product does not require large start-up costs, which means you can grow your business without financing until it becomes self-sustaining.
Are you looking for a business that you can launch in next to no time?
Corporate Communications & Promotions
Corporate communications covers a host of areas, mainly because this is the sector that takes care of how companies look to the outside world – something that is very definitely a service, but also that is not often taken care of in-house.
If you can write, edit, have a knack for advertising, can take photographs or create promotional and corporate videos, you can offer your services part-time to companies both large and small that are in need of these services.
10 Business Ideas Ready To Launch!
Where do you find a good business idea? Right here. Here you’ll find several innovative business ideas that are ripe for plucking.
Where do you find a brilliant business idea?
It’s not as hard as it may seem at first. In fact, the idea is arguably not all that important. There’s a reason investors talk about backing the jockey and not the horse: It’s often not about the idea, but the execution.
A great entrepreneur can turn even a mediocre idea into a success; all that’s needed is a USP and great customer service.
That said, some ideas are undoubtedly better than others. And some businesses are easier to get off the ground. In the following pages you’ll find a curated list of business ideas that have reached a point where they’re just waiting to be exploited.
The 10 Best New-Age Business Ideas You Haven’t Heard About Yet
Creating the company of your dreams often begins with learning more about something completely new to you.
You don’t have to over-utilise iPads and smartphones to transform your business into a modern one. Connecting with newer generations is easy when you take advantage of the cool, in-demand ideas at your fingertips.
Here are 10 new-age business ideas to get you started.
- The Alfa Romeo Stelvio – More Than An SUV
- (Podcast) Are All Prices Negotiable?
- (Podcast) Phone Calls Often Solve Email Problems
- (Podcast) Being An Entrepreneur Is Painful
- (Podcast) Playing To An Audience Of One
- Be 1 Of 3 High Growth Scale Ups Sponsored By FNB & Vumela To Participate For FREE In 10X Accelerator Program (Value Of R650 000)
- R33 Million Boost For Job Creation And Innovation In SA
Start-up Industry Specific2 weeks ago
How Do I Start A Transport Or Logistics Business?
Entrepreneur Profiles1 month ago
10 SA Entrepreneurs Who Built Their Businesses From Nothing
Upstarts1 month ago
10 Young Entrepreneurs Under 30 Share Their Start-Up Secrets
Business Plan Advice4 weeks ago
Writing a Business Plan May Not Be Your Idea Of Fun, But It Forces You To Build These 4 Crucial Habits