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5 Benefits Of An Online Business - Business - Nairaland

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5 Benefits Of An Online Business by bubenwsou: 3:44pm On Apr 16, 2015
There are a lot of reasons why you should consider running an online business, especially these days where working for others is so demanding that you lack quality time to spend on yourself and family. The Internet has come to stay, and millions of people are taking advantage of this globally. Nigeria has also seen an increase in online business over the years, and the market is still very untapped.

Here are a few advantages for joining the online market:

1. You Can Start On Your Own.

With the daily advancement in web technology, handling a lot of tasks has been made easy by automation tools. These tools vary from blogging platforms, social media marketing tool, online payment platforms like Quickteller, GlobalPay, CashEnvoy, etc. You can easily start a lone online business and employ people later as your market grows.

Things like insurance and security are needed for an online business as well, but securing intellectual property stored online in the cloud is a lot less expensive than doing the same for merchandise in a store that is at risk to theft or fire

2. You Have The Freedom To Travel.

There is no need for a physical location in most cases so there is no need to stay in one place. If you need to pack up and move your company to another state or country where there is more opportunity, it can be as simple as packing up your laptop and accessories and leaving. With a physical 'brick and mortar' business, it would be a little more difficult to relocate. You will most likely be constrained to whatever lease agreement you may have in place.

As you know, business and tax laws vary from state to state. Having your operation online gives you the freedom to choose where you want your business to be incorporated. You would have to have some sort of address established in the state but it doesn't have to be an actual store. There are a few countries who's laws work best for the traveling internet entrepreneur. However, it's important you do your research on taxation for where you want to run your business from, or better still pay a professional to help you with that.

3. Your Products or Services Are Globally Accessible.

There are no limitations to your geographical reach, only if you've built a model that is restricted to a particular geographical location. Offering your products and services online opens your business offering up to the edges of the world. The internet doesn't sleep and there are billions of people online looking for solutions to their problems, while YOU are sleeping.

4. The Internet Market Is The Future.

The internet definitely isn't going anywhere anytime soon as more and more people are gaining access to an internet connection or a smart phone every second. E-commerce is following the same trend as more and more people are becoming comfortable making purchases online and from their mobile devices. From a consumer's standpoint, making purchases from the comfort of your own home can save you a lot of time, and for certain products, shame or embarrassment.

5. Test-run Your Product or Service.

Not every brilliant idea translates into a consumable product or service. And as you know, the failure rate of new businesses is very high. Another advantage of starting a business online is the ability to gauge interest without actually having the product readily available for sale. One example of this that I've seen a lot is a preview or 'beta' page with a prototype of a product where people can sign up to 'be the first to know' when the product is made available. This can be done with a food product, a clothing line, an app, pretty much anything. It's a great way to gauge interest before you go all in with a final product.

You don't need too much capital to start a business anymore..

There are hundreds of ways to make money online and frankly, who can afford NOT to open up shop to the billions of people on the internet. There are still a lot of traditional brick and mortar businesses that are not providing their products and services online, constraining themselves by business hours and management of on premise staff.

All you need is a website, a product or service and consistent potential-buyer traffic to that website.

I help entrepreneurs and SME's build an online presence or setup shops online. If you would like to know more, follow me on http://www.twitter.com/bubenwosu or send me an email at ideas@bubenwosu.com. I'd be glad to answer all your questions.

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