10 Reasons To Start An Online Business
The internet is the largest place of opportunity in this time, all in the comfort of your home or your workplace of choice (beach, near loved ones, another country: up to you).
It has also created an entirely new type of economy and worker: the online entrepreneur.
These are people who work full or part time online; some making money online through their blogs, some make money through affiliate marketing, some provide services and more.
Whatever their online business model, there are so many reasons that make making money online sexy (at least to me).
Here I list 10 of them for you.
1. No more long and/or mad commutes
Imagine how much time you can save on your commute. How many hours can you save a day? 1 hour? 2? Or more? 2 hours a day x 300 days a year = time savings of 600 hours per year (depending on how much time you save)
If you assume 8 hours = 1 working day, 600 hours saved = 75 full working days OH MY GOODNESS!
Imagine how much more can you spend time with loved ones, achieve more or go for scheduled breaks and holidays? You can probably read a lot more and build stronger and stronger online businesses too.
2. Your work, your terms
Funnily enough, when I don't have a schedule, I tend to work more. I wake up at 4.40 AM everyday, including weekends to meditate, pray, exercise and work and get things done, and back in bed around 9+ PM.
You want to flip that around? Up to you.
You can also wear whatever you want to work, work wherever you want, listen to whatever kinds of music you want: your terms
3. Work anywhere
This is an expansion from point 2, where you can truly work from anywhere. You can customize your working environment as how you want to, or you can customize where you want to work and make money online.
- Local beach? Sure
- Some other countries' beach? Of course.
- Local cafe? Definitely.
- Some hotel? By all means.
You can do it over the weekend, or over weeks and months in another place; but I generally stay in my own home because I know my home environment, my processes and ritual to get productive.
I can only imagine the level of disruption if I have to keep moving countries and cities to my online business productivity. If you want to work from another country/countries, I recommend you stay put at one place for at least 2-3 weeks or more, to lessen the time needed to adapt to different place, culture, food etc (better for work).
But you can literally work from anywhere you want to be.
4. Online, you will be networking with A LOT MORE PEOPLE
When we have a fixed job, we tend to mingle with the same people, eat and party with them, or maybe find a spouse. Sometimes people come and go because of job change etc, but it's generally the same.
It's not the same online.
You will be able to connect with so many more people than you will think, all over the world (bear in mind that you'll open shop to the entire world), and it's not as personal or effective ie its not face-to-face, but you can definitely build deep and good friendships online.
You'll be able to meet and work with people from all over the world, with different personalities and interests…and don't be surprised if you get very used to it and even meet future business partners and staff from the other side of the world =D
5. Versatility + Flexibility
Working online is truly very flexible and versatile. You can create all sorts of different online businesses and websites, based on your passions, niches and there are literally so many online business model available.
You can write a blog on a topic you care deeply about, and later once you've built enough traction and depth, you can launch online courses, e-commerce stores or complementary affiliate products to serve the needs of your audience.
This makes the online world so interesting, open-ended and fun!
6. Making money online is less risky than a job
Many seem to think that a job is stable, safer and secure…I don't think so. It's certainly easier and more common, but it's definitely not more stable, safer and secure.
But still, a job gives you ONE stream of income paycheck every month, whereas a profitable online business will give you streams of passive income. If one dries up, there are others to take its place…but if you lose your job? There has been job cuts as economies shrink or political-power-play.
You lose 100% of your income.
Which is why you need an online business that works for you. No one can take away your business from you, and even if you lose your job, your business is there for you.
7. You the CEO
You get more control on what kinds of projects you want to pursue and do, and how much you can earn. You can set the directions for your business and strategy and have so much fun…and not have an annoying boss who breathes down your neck.
It's a different sort of stress, but I like the control (maybe I'm a control freak =D)
8. You develop business and life skills
Learning how to make money online is a skill that is similar to starting, building a small business. You have to manage costs (domain names, hosting), people (assistants, writers, designers), clients etc.
You'll also have to manage and plan the strategy, business model – all of which are business skills that will stay with you for life.
9. It may potentially grow into a big business
Many of the successful online businesses often start as a small side hobby or side hustle, and slowly grow their way up to larger and larger audiences and profits.
See TechCrunch, it started as a one-man show, and today it employs writers, editors etc and makes millions of dollars in revenue every single year. And that's just one example.
There are literally thousands of ways to make money online that you can start small and scale up over time.
10. It's yours
It's not easy to make money online, but the most important thing is that in the end, the profitable business belongs to you. If you work for someone else, whatever you do belongs to the company, and that's it.
If you gonna work hard, might as well work hard on your own business that you own. If it works well, you can live off the passive income or sell it for multiples of the annual profits.
Ok, to put things in perspective, working online from home and making money online has its downsides too: some people cannot take working from a laptop/computer for hours. Some can't stand the open-ended and unstructured (too much freedom) approach.
Everyone's different, but have a think. After working 3 years as an employee and being self employed since 2008, I will NEVER again work for someone else, because it's not as fun nor profitable.
But that's me.
What about yourself?
If you’re a student, stay at home mum (SAHM), working full time or part time, or retired: you must build an online business on the side. Please don’t quit your job yet, build it on the side until it’s profitable enough to replace your salary, then you have more options.
It’s not a luxury but truly a necessity for your future.
I’ve built multiple businesses (and lost multiple too) and I can tell you frankly that building a business on the internet is the cheapest/most cost-effective way to business. There are thousands of people who do so sharing on topics that they’re passionate about (like how NigelChua.com shares on passive income and online business, which is my passion…for years now).
I know I am making some money online (see my income reports), and I know my financial future is getting better and better. But it is not easy, and takes a lot of time to learn and apply but I am building my passive income internet businesses that will work for me day in, day out; serving readers and customers profitably and delivering value 24/7.
To learn how I to make money online, join my mailing list and visit my resources page to see all the tools I use actively to build money making online businesses.