What are the Online Business Advantages and Disadvantages?
What are the Online Business Advantages and Disadvantages
?
Online business advantages come first and foremost in the form of business exposure. Every company relies on this to create interest for their product thus producing more income. For a beginner it also means a smaller start up cost and smaller overhead expense. The business owner doesn't have to worry about putting up and renting an office and staffing. Overhead costs are lower since running expenses are considerably less. One can start at home with only your product or service, a computer and an internet connection.
You also have the advantage of being able to reach a bigger customer base than usual offline businesses. Plus you're presence is constant even without direct supervision. Your business can run 24 hours a day, 7 days a week including weekdays and holidays! Being your own boss is also a great perk. You don't have to answer to or have to deal with any more personnel than you absolutely need to. You are totally in control. This is how significant online business advantages are.
Do you absolutely loathe traffic? Then this may be the business for you. You not only save on gas money, you also help the planet. You are taking care of the environment by not contributing to the use of fossil fuel. In some countries, you get a tax deduction if you telecommute. In some countries though, you don't get those deductions but there are usually a large number of tax benefits for having a home business. Check that with you tax attorney or accountant.
Your online business advantages can also be a springboard for other money-generating opportunities. An example is the case of online ads that subscribe to your web site. More visitors to your website means more possibility for better income to be generated out of your web traffic.
One of the biggest disadvantage to working at home on an online business is focus. It is very easy to become distracted and therefore unproductive. Can you set up a routine and discipline to stay on task and get the job done? Many cannot. Be honest with yourself and apply good time management principles in order to be successful.
Having an online business means that you can have the opportunity to earn more and improve your quality of life. This is true not just in terms of income for the needs of your family but also the possibility of spending more time with them since you save a lot of time that was once used to going to and from work. You are in control of everything involving your business with just the use of the internet and a reliable computer. So before you start getting negative about having an online business, make sure you evaluate all the online business advantages.