6 Simple Reasons Why Every Entrepreneur Should Start An Online Business

how to become wealthy

At Nike+ Run Club, one of our key philosophies is: “If you have a body, you are an athlete”.

It is also said that every single South African should run at least one Comrades Marathon.

Guess what though?

Simple, important and effective as running may be, millions of people couldn’t give a damn about the sporting code.

Some people think it’s a complete waste of time whilst others¬†know it’s importance but have other priorities.

In September 2014, I started Run For Wealth as an online business.

Since then, I have realized that an online business is much like running:

  • it is simple and effective
  • many think it’s a waste of time
  • many know it’s importance but don’t view it as a priority

If you fall into any of the above 3 categories, I’d like to give you 6 simple reasons that might ignite you into starting an online business.

1. Low Start Up Cost

This is undoubtedly one of the biggest challenges for entrepreneurs. The barriers to entry in highly rewarding industries are massive.

From a hardware point of view, all you need to get started is a laptop and internet.

You then need to register your own domain.

Once the above is done, you need to sell a few products or services.

Regarding products and services, you have 2 options:

  1. you can invest some time into creating your own products and services
  2. you can sell other people’s products¬†(through what is commonly known as Affiliate Marketing of Multi-Level Marketing)

When starting out, it’s always easier to just sell other people’s products and services.

2) Low Running Costs

Running costs are another massive stumbling block for many entrepreneurs.

Although start up costs are a challenge, you are often able to calculate them upfront.

Running costs, on the other hand, usually creep up on you like a thief in the night.

They escalate, deviate and do all sorts of crazy stuff that you seldom anticipate.

With an online business, running costs are exceptionally low in comparison to conventional businesses.

3) Cost Effective Marketing Opportunities

In the conventional business world, marketing is incredibly expensive.

Be it a simple advertisement in your local newspaper or a billboard to attract thousands, you’ll pay an arm and a leg.

An online business gives you an unconventional way of marketing your skills, talents and knowledge to thousands on a string budget.

4) Unlimited Financial Returns

The returns – given the costs – are crazy to say the least.

The potential for earning is unlimited.

And the are 2 key reasons for that.

Firstly, it is a global business model. My potential clients can come from any part of the world.

Secondly, the nature of the business is 24/7. When I sleep, it doesn’t.

5) Enables You To Build An Asset

You can’t really call yourself an entrepreneur if you are not building an asset of sorts.

After all, we all go into business to add value and hopefully leave a legacy.

In doing so, you hope to build an asset by sharing your expertise, skills, talents and experiences in written and audio visual content – with the ultimate intention of monetizing it.

6) Time Freedom

This for me is the biggest factor.

Time, in this day and age, is priceless.

For me, especially because I am a huge advocate of living a balanced lifestyle, I had to choose a business model that would give me time freedom.

The business allows me to work from home – and that’s an incredible privilege.

It also allows me to work from anywhere in the world when I am away from home.

As long as I have my laptop and internet connection, I’m good to go!

Conclusion

No business is an easy business.

If anyone ever sells “returns without effort”, rest assured there’s something fishy there. As such, the above 6 reasons are not a ticket to overnight riches and success.

Online businesses require effort, consistency and dedication.

BUT, you can work smart in life.

You can put in less hours, with less financial and emotional stress and still be able to achieve plausible financial returns. Beyond that, you can build an asset that you can really be proud of in years to come.

I hope you’ve found value in this post.

God Bless!

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