Have you ever dreamt of having your own cute little shop or being the owner of the fanciest restaurant in town? You can even smell the food and hear your guests chatting… A dream…
But, when reality strikes, you remember how much money you’d need for the shop rent, for the restaurant’s tables, chairs, employees, insurance, and so on and so on. So, quicker than the blink of an eye, you discard the whole idea and get ready for work. It’s just 1-hour commute, but at least you aren’t risking your entire financial existence, right?
But what if I told you that there’s another way? That you can still have a business without going all-in with all your savings. That’s right. You can start an online business. It may not be such a romantic idea as a brick-and-mortar store, but it’s much more doable – and quicker to put into practice.
Why you should start an online business
- No cost of leasing retail spaces
Imagine how much money you’ll save! Unless you don’t want to work from home. In that case, you’ll have to look for an office, but that doesn’t have to be expensive either. Or better yet, search for a coworking space, where you can network with other business people like you – and share costs.
- No expensive equipment
You’ll need a PC, a high-speed Internet connection and any tools (online or physical) you need to perform your profession successfully. But I bet it’s nothing compared to a restaurant or a coffee shop, right?
If you don’t have many resources, make sure the gifts you get for your birthday are tools or items you need for your business. Check out this gift list for freelancers. And don’t forget about Christmas presents 😉
- No cost of leasing retail spaces
- Flexible opening hours
You’ll be free to work whenever you please. You won’t want to close your restaurant in the middle of the day just because no guests are coming in – even though that may mean that you’re spending way more money in electricity bills than what you’re earning. But that’s not a problem with an online business – You can work at night if you want to. You can be with your child when he needs you and work while he sleeps. Or go to that awesome event you always wanted to attend – and work on the plane, for example! You are the boss 🙂
- You don’t have to quit your job
You can even keep on working at your current job until you start getting profit from your online business. And the time will come, don’t worry about that!! You’ll have to show some availability to potential clients, but at least you won’t have to be waiting around for customers to come in and try your delicious tacos. Instead, go to your favorite restaurant and eat some tacos yourself to celebrate your launching of your new business!
- Failures don’t exist
Nope. They’re called “iterations” or “pivots” – that is, a quick change of strategy to make your business work 😉 There’s no way you can fail if you always have the option to change something, right?
What would it cost you to turn that cute little shop into a yoga studio? Can you imagine?? You haven’t paid out your debts yet, and I’m talking about investing more money in an even bigger business!!
Now imagine that what you opened wasn’t a physical store, but a clothing e-commerce. It isn’t working as you’d like to – or you may just not enjoy running it. But you’ve always played with the idea of teaching yoga. What you really love. What would you need to hold online yoga lessons? A video camera, a platform for online classes – like Teachable, for instance – and a good plan!! I know, quicker said than done, but you get what I mean, right?
Think about Flickr, for instance: It started as an online game, where players could interact with each other and share pictures. As this picture-sharing turned out to be one of the most popular features of the game, Flickr became the photo-sharing tool which is today.
Bottom line: If you want to start an online business, don’t get too attached to your original idea. Be open to changes 😉
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PS. Check out Ash Maurya’s book , and you’ll get lots of ideas and examples of what an iteration can look like.
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