Online and conventional business – The 5 major differences - Should you make the transition?

Online and conventional business The 5 major differences - Should you make the transition

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I am sure you are already doing well in your established brick-and-mortar business but can it be any better? If it can be, is there any way you can learn the techniques to do so on-the-job? These are some questions that keep tugging at a small or medium business owner's sleeve every now and then. Planning the future is highly critical for any business, big or small, and if it is a brick-and-mortar business, the variables are just too many to plan around. Let us discuss a few advantages that an online business offers when compared to your existing conventional business.

An online business comes with many distinct advantages, of which the following are to be noted:

Future-proof: With everyone vying for the virtual pie today, an online business is future-proof as of now. Since the very increasing customer-base for online business are looking forward to buying vegetables from the comfort of the couch, there is no way your online business could go wrong if you begin to sow the seeds now.

Time-independent: Unlike the conventional business that requires you to leave home at 8:00AM and take a transit to your business, an online business works without a time schedule. You can take orders at any time of the day or the night. This translates to flexibility where you can send more time with your family, yourself and keep up your social commitments.

Logistics: The logistics required to run a conventional business far outnumber the requirements of an online business. The daily grind that involves hiring and firing people, purchases, sales, book-keeping, security and million other smaller details is non-existent in case on online businesses.

Costs and financial management: This could be the best reason why more and more entrepreneurs are looking forward to starting a virtual businesses instead of the conventional ones. Although the asset-base in case of an online business may seem to be smaller, the startup costs are almost non-existent. In addition to this, an online business is lean and clean and does not have much of a maintenance outlay either. These factors are critical and make sure that the returns on your virtual business are much higher compared to a conventional business making them more sought-after.

The grind: Conventional business needs that you are physically present at your business place and give time to all the nitty-gritty to get it right day after day. However, most internet based businesses are automated and run more or less by themselves unless you want to intervene.

Of course, an online venture seems to be more apt to pursue and succeed at. Making the transition is no rocket science and it would obviously need some understanding and perseverance to succeed. However, do not infer that starting or running an online venture is a cakewalk like many websites may tell you.

From my personal experience, the amount of hard work you need to put in behind a virtual business is almost non-existent compared to a conventional business. Believe me, I have been there and done that. Myonline business is there for everyone to see, check it out today.

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