This is a guest post by Dana Kim, a former business consultant turned into an online marketer. With six years of experience, she has been helping several start-up companies to establish their brands, getting them closer to their desired goals and success.
A steadily-growing trend in entrepreneurship is the concept of online business – essentially carrying over the usual functions of a brick-and-mortar shop to the digital world.
Many businesses have already set up online shops to complement their physical ones, and many others – even those without degrees in Entrepreneurship or Business Administration (to name a few) – are also setting up online shops for products and services they can offer and make a living out of.
You’ve probably dreamt of opening one yourself – how awesome would it be to have an online clothing business or a shop for your artworks and have the world see what you can offer?
It would have your own personality and branding, and the best perk – you can literally make a living even while eating brunch in the comfort of your own home or in a coffee shop!
But you may also have your doubts; you might not have the time to manage an online shop, or you’re worried about the potential costs, or it might not suit your lifestyle. You might even be thinking that you don’t have the proper education to start selling stuff.
If you’re questioning yourself why you should start up that online shop of your dreams, here are a few reasons why:
1. It’s inexpensive.
Contrary to starting up a brick-and-mortar shop, an online shop requires you to only pay the basest of amounts: a domain name, website hosting, and shipping fees if you’re selling physical items online.
There are very little overhead costs for you, and they only cost a small percentage of what you’ll pay for if you set up a physical store.
The costs are to your advantage, too. In choosing a location, the ones that provide the best access to your niche would often by pricier as a lot of your competition are also vying for the same spot. But with a domain name and hosting account, prices are based on what features you want to access or what budget you have with little impact on you reaching your niche.
2. It’s time and location-flexible.
The beauty of an online shop lies in the fact that you don’t need a specific time and place for it to function – it’s there 24/7, at your reach, anywhere and everywhere you have an Internet connection.
Even if you travel halfway across the globe, the minute you are connected online, you can see your shop’s progress.
You can also work at any time you wish – at what time you start, how many hours you work, and what days of the week you prefer working. This lets you have time for other things you want to do, like your hobbies, contacting suppliers, or spending time with your family.
3. There’s an unlimited income potential.
With your business, not being bound by time and location, it is 24/7 available to your customers, for 365 days a year, unless you close up shop orders for the time being and come back to it later. That means that, even when you’re asleep, orders are bound to be happening, which means income for you.
How much you work also determines how much your income is. If you spend a lot of effort with your marketing and income-producing activities, you can lessen the hours you spend online tending to your shop while increasing sales.
An online shop also means that you have access to a bigger market than a physical shop would have, and more potential customers means more chance of securing sales.
With the use of social media and other marketing tactics, you know that you’re reaching the niche you’re targeting and have them interact with your shop anytime they wish – making it convenient for them and you as well.
4. You can manage it on your own standards.
Having an online shop that you manage personally means that you make the decision on how it’s like and how it runs.
You have the freedom to decide on its appearance, what niche you’ll target, the way customers reach you, and the like.
How your shop turns out is entirely your preference, not someone else’s, and you know the inner workings of the shop yourself.
5. It’s what you want to do.
In the end, the biggest reason why you should set up one is because you want to and you’re determined to make it work.
Your passion will be in your work as it is something you’ve decided that you wanted to do and seeing it in motion will be a fulfilling feeling.
Having a stable source of income and being able to provide what others want is only second to the feeling of you doing what you want to do the most in your life.
So, what are you waiting for? Start your dream online shop now!