Why start a home-based business web site?
What benefits does such an online business have over any other business?
What benefits does it have over a traditional “bricks and mortar” type business?
What benefits does it have over any other type of home-based business, such as a multi-level marketing business or a lawn mowing business, or an accounting business?
Simply stated, starting an internet or home-based business website has three very clearly defined advantages which then lead to further benefits that can not be obtained with other businesses.
These two advantages are…
1. Potential income earnings and market growth.
2. Low initial monetary outlay or business setup costs.
3. The ability to work on your business part-time.
>>> Potential Income Earning and Market Growth…..
Saying that business online has grown rapidly since the inception of the internet, is not only a fact but also an understatement.
Constant news of increased spending online litters the news on a weekly basis, more people buying a much wider variety of goods, services, and niche market products.
Additional markets that were not present on the web five years ago are now not only opening up but expanding at huge rates. Countries such as China, India, and even Bulgaria are now online and their economies are growing at staggering rates. India would have to be the prominent leading example to date with its economy currently growing at about ten percent per year!
Many people in such countries now wish to have all the benefits that we in the west have been experiencing for many years. The house, the car, the TV, the microwave, the computer, and the internet and all the benefits that such technologies can bring, notwithstanding status within their given society.
In addition, our own society has become much more familiar with the internet and the many benefits it brings. Expanded communication with friends and family, social forums, and discussion lists on all sorts of topics, even dating is now a huge industry online.
This familiarity is now facilitating a trust of all things internet-related and thus people are turning to purchases online with much less trepidation than years gone past.
And to put that in dollar terms, online spending has risen from $28 billion in 2000 to an estimated $81 billion in 2006. Total people shopping online has gone from 66 million in 2002 to an estimated 136 million in 2007 and has grown dramatically ever since year on year.
In 2019 that figure for online spending in the USA alone was…..$601 Billion a year!
US eCommerce sales will reach $794.50 billion this year, up 32.4% year-over-year. That’s a much higher growth rate than the 18.0% predicted in our Q2 forecast, as consumers continue to avoid stores and opt for online shopping amid the pandemic.
The fact that people are looking for such a wide variety of information has allowed thousands of solopreneurs working from home to earn more than better incomes. Incomes are being made from people offering information on their hobbies, their current business skills, and many other tangible and intangible products.
Even people without their own products are bringing in profits by selling other company’s goods and services or even just selling advertising.
The potential for already established offline businesses is also huge. A good example of this is the tourism industry whereby most of the major players such as airlines, governments of major tourist destinations, and some major hotel chains have been quick to capitalize on internets growth.
However, there are a staggering amount of businesses of varying sizes that are missing huge opportunities to substantially increase customers and profits by developing and marketing their business online. This includes hotels, restaurants, clubs, sporting, leisure, and health services just to name a few.
The fact is, no matter your current business size – online or off, your current experience with the business – a lot or none, whether you wish to have a business working from home or start with an office, there is no rival for the potential of income or growth in any form in the world today.
>>> Low Initial Monetary Outlay or Business Setup Costs…..
Cost to start a restaurant? $100,000 to $1 million.
Cost to set up a shop in a major shopping center? Maybe a little less than the above.
Cost to start a service business from home, say a carpenter?
All your tools, advertising, and insurance plus many extra’s, maybe 10 to $20,000.
How much do I need to start an online business?
A website (domain name) and hosting – $100 dollars a year.
However, if you have no experience with the internet there will be additional costs such as learning materials and additional software.
All in all, you may be spending anywhere between 1 to $5,000!
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I am in there and so are many, many more who want to also learn the skills you need to make a living online!
The fact is, the experimentation and implementation of an online business or web-based business web site is affordable for the average working person, something that cannot be said of traditional business due to the usual immense start-up costs.
Even the running costs of a web-based business web site are so little compared to traditional costs. Then there are the advertising and marketing costs to consider, much lower than what offline business pays and something that they are even yet to fully to comprehend.
>>> The Ability To Work On Your Business Part-Time…..
I have left this section to the last, why?
It represents why many people don’t go into business…. risk!
In most cases, building and starting a business means taking many risks. A loan may be required, extensive experience in your business field, applying yourself to the business full time without backup income or another job, putting on employee’s and the list goes on.
A home-based business web site can be started and established while still working a full-time job.
It, therefore, eliminates risk from your daily life.
The mortgage payments, the kid’s schooling, the income to the house and your current lifestyle are in no way threatened. The business can be worked on part-time from home, at the point that it establishes enough income to live off, your full-time work can then be terminated.
If ever there was a time where the initial outlay in terms of money, time, and risk to start a business was the least, now is that time and the internet is the platform.
No matter your experience or subject knowledge, there is money and a very good living to be made online whether you are an established business or wish to build a home-based business web site.