Are you sick of slaving away at an unfulfilling job that pays you less than you deserve?
Do you have a vision of doing something that provides you with the time freedom and lifestyle you desire?
Is having financial independence and full control over your future just some of your life’s biggest goals?
If so, then becoming an entrepreneur and starting your own business may be for you!
And you’re not alone, every year millions worldwide start their first businesses. From opening restaurants to construction companies, to network marketing and developing mobile apps, the possibilities of becoming your own boss are endless!
…But with so many ways to start a business, which one is BEST for the first time entrepreneur?
Out of all the industries out there, the one that is the most lucrative yet still beginner-friendly is online.
Since the launch of the web, more and more people are hopping online to do nearly everything – including shopping, making phone calls and staying connected with friends.
In 2015 the number of online users reached a whopping 2.94 billion globally! These numbers are only going to keep rising so there is no better time than right NOW to start a business online.
Need more convincing?
Here are 6 reasons why starting an online business is a complete no-brainer for first time entrepreneurs.
1. It’s cheap
Many online business owners started their empire with nothing more than a domain and hosting service to their website (that promotes their offer).
At MINIMUM, starting an online business would typically cost you:
- $0/year to buy a domain name (usually free when first purchasing web hosting)
- $5/month for your website to be hosted
- $0 to build an email list
- $0 to install a design theme for your blog/website
- $0 to accept purchases through Paypal
That’s just $60 for a whole year, not bad right?
Of course, this example was at the very extreme side. To be honest, we use additional tools in our business so our annual overheads come to around $1540.
However compare this to a traditional brick and mortar business where you would need to pay for commercial space, physical inventory, printed stationary, utilities and more.
That can add up to tens of thousands of dollars!
In terms of what to sell, you can create online products for little to no cost or even become “affiliates” for other people’s products whereby you sell them for a commission. Either way, digital products that are available for download 24/7 means there’s no need to handle shipping and you have virtually an unlimited supply!
With the low entry barriers and overhead costs of an online business, your profit margins are significantly better and your ROI is easier to achieve.
2. You choose your own office
Imagine being able to pick up and move to anywhere you want in the world and still be able to run your business effectively. Well, an online business allows you to.
Because you only need an internet connection to get everything running, you’re not tied down to a desk or single location – your business can pretty much be run from anywhere in the world.
Freedom to travel would be so liberating right?
Don’t want to miss out on that trip to see your parents? Bring your laptop with you!
Want to run your business by the beaches of Miami? Go for it.
You can even do it all in the comfort of your own bed and won’t ever have to deal with morning traffic! WIN.
Want to know how to build an online business from scratch? It’s really very simple! You just need the 3 pillars in place to succeed… Learn what they are in this free course here.
3. It’s flexible
An online business gives you flexibility in creating your schedule. You can choose what time to work and how long to work as long as your business is set up efficiently.
Now this isn’t to say you’ll make money doing nothing, but you won’t be limited by an hourly wage because your income isn’t determined by the number of hours you put in but how productive you are during the hours you do work.
To add to that, becoming your own boss and having flexibility means more freedom in your life.
Instead of working a job that determines your lifestyle, an online business can be organized around your lifestyle, so you can make time to do things that also matter. With full control over what goes on in your day to day schedule, you can live life on your terms – what’s more fulfilling than that?
4. Your income potential is unlimited
The internet never sleeps and neither does an online business, meaning that you don’t have to be present in order for a transaction to occur! With the right process in place, you can automate your business and make money around the clock 24 hours a day, 7 days a week, 365 days a year.
And since your income is tied to how productive and smart you work (rather than your hours traded), the sky is your limit when it comes to making money.
No one controls your income but YOU. You run the show and you decide how much you want to earn.
5. You can pursue ANY passion online
There’s no better place than the internet to explore your passions and creativity. Any niche, interest or hobby of yours can be literally turned into an income online.
If you’re an avid baker… you can grow a Youtube channel showcasing your best recipes, the more views you get the more ad revenue you receive.
If you’re a bodybuilding enthusiast… you can start a membership site teaching individuals how to lose fat and gain muscle, every month clients will pay you a recurring fee to stay part of the members area.
If you’re a maths whizz… you can run an online business tutoring students one-on-one over Skype.
The world really is your oyster online! And when you can do what you love, running a business hardly feels like work.
6. Anyone can do it
Perhaps the best reason why everyone should start an online business. From teenager to senior citizen, college drop out to doctor, the internet has no bias and there’s no prerequisite, qualification or certain IQ level required to get started today.
With the right mindset and willingness to put in the work consistently, you’re going to prosper online. Period.
Now it’s up to you…
You can probably tell that an online business makes sense because of the opportunities available, the ease of access and affordability. Most importantly, when built strategically, it can be extremely rewarding and liberating for the owner.
Like any entrepreneurial journey though, an online business won’t be easy and will require your time, patience and effort… but if you commit to it wholeheartedly, achieving time, income and location freedom is absolutely possible for anyone.
…the first step is simply to take action.
Now we’re not saying you should quit your office job right now, but how about taking baby steps toward building an online business on the side?
Unfortunately, there isn’t enough room in a single blog post to discuss where you should even begin.
But here’s some great news!
In our FREE 3 part course we reveal the 3 pillars you need in place to make it all a reality. After you complete this training series, you’ll walk away with the knowledge, skills and tools you need to set up a profitable online business, with us as your ongoing support in achieving a lifestyle of freedom.