The global pandemic has changed the way we perceive the world around us. Before Covid-19, we were quite certain about numerous things. For example, opening an eatery was considered a safe business choice as people are always eating. However, the coronavirus turned things upside down. Due to Covid19, indoor dining was banned, cinemas were closed, and travel was prohibited. All this had a negative impact on the business sector. The businesses that were considered safe were proven risky. However, one business sector garnered immense support in these testing times. The online business or e-commerce sector. These online businesses were the turning point of the year 2021. They allow anyone from anywhere to run a successful business. So, if you have always dreamt of running a successful business but felt intimidated, an e-business is your chance to do so. Considering that successful enterprises are also moving their business to cyberspace, one can say that there are plenty of reasons to start an e-business. We have gathered a list of 10 reasons to help you make up your mind.
1. Flexible Working Hours
An online business gives you and your staff flexible hours. You can work at your own pace, which will help in staying productive. In fact, if you are launching an online business, you even enrol in an online business management program. There are plenty of universities that are offering online mba no GMAT required programs. It will help you in becoming a successful business leader. With an online program, you can manage your business and acquire a master’s degree simultaneously.
2. Low Cost
You will not need huge investments and can start with a minimal amount. Your major expenses will be building up a website and running ad campaigns. There are some platforms where you can start on a commission basis, e.g., Teespring, Redbubble, etc.
3. Growing your business is easy
The online space does not discriminate among any brands. If you are starting a new business, all you need to do is optimize your website for the search engine. It will treat you like any huge and established brand. The rest is all about maintaining the quality of your products and services. With time you will be able to grow your business and build up a strong client base. As the internet is available to everyone, you can launch your business on a large scale regardless of how small your physical location or outlet may be. Even if you are an “online-only” business, the credibility of your brand relies on the quality of products you deliver and your online aesthetics.
4. Location No Longer Matters
With an online business, you can operate from anywhere around the globe. It means that you can hire from anywhere around the world as well. It will help you in picking the right person for the right job. The locality will no longer be a restriction. Additionally, since you do not really need an office, you can even relocate to a place where you have always wanted to live, for instance, at a place where you can be closer to your family.
5. Huge Investment Opportunity
An online business does not require you to spend money on bills, rents, etc. Of course, you need to pay your electricity bill even when you are operating from the comfort of your home. Nevertheless, establishing an e-commerce business may negate the additional costs of renting shops where people might come to look at your products. Furthermore, when you have employees working remotely for an online business, you save costs on rents and other overheads. You can invest this money in growing your business and improving the quality of your products or services.
6. 24/7 Availability for Customers
You may define your and employees’ working hours, but your online store is still always open to take in orders. The conventional brick-and-mortar stores close down after a few hours shift, but your online store will be running 24/7. So, in a way, an online business facilitates the customers since they can shop whenever they want without having any time constraints.
7. Invest in your own Interests
With your own business, you are free to do what you want. Firstly, you can pursue your passion which can be challenging in a 9 to 5 job. Secondly, you can focus on what you want. For example, you want to start a poultry business. You may even try to document your farm chores to tell your consumers how you raise ethical meat.
8. Bright Future Ahead
Many companies are shifting to the internet since the online market has immense potential. Stats predict that 95 percent of all purchases will be through e-commerce in the next 20 years. So, starting an e-business now is an excellent idea that is bound to make you successful.
9. Can Work on Establishing A Business Model
You will not have to invest a lot in the beginning. It means that you can experiment and figure out what works the best for you and your business. There are numerous business models that you can choose from. For instance, the B2C model is where you can directly sell to the consumer. You may even sell to a business with a B2B model. With an online business, you can take risks without putting up a lot at stake.
10. Work-Life Balance
Even though in the beginning, establishing an online business will be tough. In the early stages, setting up your profile and building a presence in the market will take lots of time and effort. However, as time goes on, you will be more in control of your working hours. You can enjoy a healthy work-life balance and will not have to work overtime when your business expands, and you hire other people to manage your business.
An e-business is the most reliable form of business in the current scenario. With the global pandemic inducing nationwide lockdowns, the only form of business that stayed afloat was the online business market. If you feel stuck in your 9 to 5 job and want to pursue your one true passion of becoming an entrepreneur, running an online business is a huge opportunity. It is never too late to chase your dreams.