Even today, despite the fact that millions of small, medium and big businesses run both online and offline or even purely online, some people still have doubts that an online business is a “real” business that brings money, sells products or services, and opens broader perspectives for the owners.
The reason why this happens is that many people have this wrong perception of business as prestige – big offices, suits, cars, many employees hired, etc.
They do not hold small businesses like selling flowers in a small shop as businesses because they lack this posh wrapping that a “real business” should have. Let alone those suspicious online businesses that don’t even have offices!
And yet, many businesses start and run successfully online. In this post, we discuss why online business is for real and what benefits it enjoys.
The Benefits of Fast and Vast Exposure
One of the rules that every business has to follow if it wants to be successful is to get exposure and show its products or services to as many people as possible. The more people see the products, the more likely they are to buy.
If a business shows its products and services to thousands of people, even a small price will eventually build up some good sales.
On the other hand, if a business shows its services to thousands of people but only a couple of people buy, and never come again, this is a clear sign that the service has no demand.
This way, fast and vast exposure is always an advantage, and getting it online is easier than offline.
Social Media as A Medium for Exploration
Social media is a place where potential customers are, scrolling down for content and news. Researching potential buyers, their needs, and their preferences is something every business does, and doing this online is easier.
Moreover, social media is a place where competitors work, too. The benefit and at the same time the disadvantage of social media is that you can see what others do but in the same way, you cannot hide your methods of work and advertisement.
So, social media is where exploration and research thrive.
Quick Feedback from Customers
In contrast to selling stuff and services only offline, online businesses can quickly get feedback from their customers.
This feedback can be in the form of comments on social media accounts, in the form of direct messages, in the form of comments in online shops, etc.
Even if the real customers and the potential buyers don’t actually say anything, their behavior online – liking the page and posts, commenting, asking questions, sharing, or being silent and indifferent – can tell a business owner a lot.
In fact, anything a business does online can cause a quick reaction and response, and businesses have to seek ways to use this opportunity to become better and provide products and services their customers need.
Starting Small
To start an online business, most people just need a smartphone. In some cases, they need a laptop. And access to the Internet, of course.
One of the most prominent advantages of running a business online is that you don’t need many physical assets at the very beginning when the budget is usually limited. You don’t need an office, a warehouse, furniture, or office equipment, you don’t need big personnel you have to pay wages to, etc.
Everything can start from a social media account, then probably an account at an online shop or aggregator, then probably a website. But the first steps can be really small and do not demand a big budget.
Making Money Out of Thin Air
Some online businesses can literally make money out of thin air, for example, aggregator websites that do not sell any own products or services but offer an online platform for other businesses to sell.
Reviewers get fees from sellers when they recommend their products to potential customers and therefore increase sales.
Some businesses become purely entertaining and then make money by adding advertisements of third-party products to their content.
Some businesses sell consultation or so-called info products like ebooks.
Of course, running such a business requires knowledge and lots of work, but in essence, you don’t even need a physical product to sell in the first place.