Why You Should Start Your Own Online Business?

Start Your Own Online Business

Have you been considering starting your own online business? Maybe you currently own a business and are thinking about creating an online marketplace, or maybe you are new to business altogether. Either way, starting an online business is a simple process that can bring you exponential rewards.

The following are top 5 reasons why you should start your business online.

 

1. Low Startup Costs to Start Your Own Online Business

Depending on the type of business you are starting up, you can begin with almost no money whatsoever. Compared to a brick and mortar startup venture, the costs are dramatically less. If you take advantage of the space and equipment you already own, you may be well on your way to having all you need.

If you have a computer and an Internet connection already, then you can start a business. Unlike a brick and mortar business, you can forgo the building rent, utilities, renters insurance, shelving, shopkeeper wages, and retail equipment. Online businesses can even be started without any inventory if you choose to drop-ship or have a craft business where the products are created after the order is placed.

 

2. Flexible Working Hours

If you are currently working a full or part-time job and are considering opening an online business, it is easy to start small and work odd hours until you replace your income. Leaving one job for another is a scary process. Opening an online business gives you the opportunity to work a few hours on afternoons and weekends until the revenues are sufficient enough to make the jump from your current job to the job you love.

Even if you don’t have a job at the moment, the hours are an advantage for anyone. Since you don’t have to keep regular hours like a normal retail business, you are free to work at your leisure to fit your schedule. If you have a busy family life, you may prefer to work nights or weekends, and you are free to do so as the boss of your own online business.

 

3. You’re Always Open

Unlike your brick and mortar competitors, customers can shop at your store 24/7, 365 days a year. Especially around the holidays, retailers are fighting to stay open longer and longer hours. They realize that more shoppers are buying gifts online for the convenience of being able to shop at any hour of the day without leaving their home. When customers find their local stores closed on the weekends, holidays, or after hours, they’ll turn to your online shop.

 

4. Tax Benefits

If you plan to operate your online business from your home, then you can receive a lot of added tax benefits for the use of your personal space. You are able to deduct an expense for the portion of your home you use as a business if you choose to create a home office. Also, most business related expenses are deductible such as Internet service, business cell phones, mileage for business purposes, and business meals with associates or customers. Make sure to check with a local tax professional to discuss the laws in your area and find out what benefits you may qualify for.

 

5. Timing is Key

If you’ve ever wondered when the best time to enter the online marketplace is, the time is now. What’s most important to your online store is to get customers to visit it. One of the biggest supplies of these customers is search engine. Search engine use complex algorithms to determine which websites should rank first on search results pages in order to best benefit the person who is searching.

Among the factors that a search engine considers to determine if your site is better than another site for a given search term is the authority of your website. The authority of your website is determined by a number of factors, such as who is linking to your website, how well you fit the search term the user is looking for, and how long have you been in business.

One of the most important factors you can control is how long your website has been in business. If you and a competitor are both considering opening an online store selling similar items, you don’t want to be the second person to establish your website. Even if your site is better, for the rest of your career they will always get a slight advantage for being first in the marketplace.

Don’t let the fear of starting a business online hold you back from entering the marketplace. It has never been easier than it is now to start an online business. The service provided by Jooy allows you to create your first online store in just 3 minutes. However, the most important thing you can do is to take action. Signing up an account at Jooy now and get started your business online. In the business world, you want to find yourself ahead of the technology curve and not lagging behind it.

Photo credit: Intel Free Press

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