Why You Should Start an Online Business
Our work environments have become very unstable. Retail stores close, big corporations lay off people, and sometimes things happen beyond your control. The bottom line is, everyone should have a side hustle. Something you can do that brings in supplemental income in addition to your job.
Many people balk at this idea because they don’t want to have to take on a second job, they think they have to go to another “physical” job. What if you started an online business? Something that you could do from home? Something that you could scale and grow and possibly give you unlimited income potential?
Even though we live in the information age, many people write off online businesses. They think starting a business online is a fairy tale. That people don’t really make money. I’m here to tell you that this isn’t true. I know a best-selling Amazon author who makes a fantastic living through selling books, courses, and private coaching.
There are people who teach on platforms like Udemy and Teachable that make money from their courses. People start Amazon businesses and make money. There are so many different ways to start a business online. However, the key takeaway here is that this is the future. More and more people open online businesses every day.
Still skeptical? Here are some reasons why you should start an online business.
In order to supplement your current income. This way, if you lose your job it’s not panic time
You get to spend time working on a passion you have that you can make money at
You have a good chance of having unlimited income potential.
You get to work with a diverse mix of people
You make your own hours. (If you offer a service like coaching or consulting.)
You set your own price for your services and products
You can leave a legacy for your children
What Kind of Business Can I Start?
There are many kinds of online businesses you can start. Some categories include:
YouTube Channel Creator
Product Creator (Courses and Video Training)
Starting a podcast
Affiliate Marketing (Getting paid for products you recommend.)
This is just the tip of the iceberg in options, there are many more things you can do.
What Do You Want?
The best thing you can do to get started is to choose the business you want to create and find someone who is successfully doing it. You must find a “mentor” to follow. This person should teach from a beginner’s level and have the heart of a teacher.
More importantly, you need to be able to relate to this person. Their story should resonate with you and you should want the same lifestyle that they have created for themselves for you too.
How do you find this person? Jonathan Green from Serve No Master is great for beginners. Amy Porterfield who runs the Online Marketing Made Easy podcast is another marketing expert that helps beginners.
Tim Schmoyer from Video Creators helps beginners start and run their YouTube channels. He also has a lot of good advice on general branding, marketing, and overall business advice. Christy Wright from Business Boutique is really good as well, she mostly helps Christian business owners start up their own businesses. A lot of Christians like following her.
Find one to three experts to follow at most. You don’t want to overwhelm yourself by listening to too many people. Do an online search, look for someone who has the business you want on YouTube, if you find a FREE online conference, go to it and listen to some of the presenters and see if anyone resonates with you. I found my “mentor” at a free online bestselling books summit in 2017 and I am still following him.
Once you find your mentor, it’s time to start either reading some books or taking some classes. Heads up, it’s not going to be cheap. Well, books about the subject may be reasonable but courses are a whole other story. Many professionals offer courses from $500-$4000+ dollars. Sometimes you can get on a free webinar that offers their course at a discounted rate.
Okay, I hear you freaking out because these prices are so expensive. Yes, to those just starting out, they are astronomical. I get it, I’ve been there. However, you have to look at this in two different ways. One, people spend way more money than this to go to college and can’t find a job after they graduate.
That should put these prices a little more in perspective. Two, the knowledge you learn will be used in your business. It’s not like going to a training day at work in order to learn skills for someone else to profit off of. What you learn and apply will be for your own gain. That’s pretty sweet.
You will also have some start-up costs. Some of these expenses include:
Web site with hosting
Stock photo site subscription
Paid Email service (MailChimp, ConvertKit, etc)
P.O. Box (Required to send emails to customers)
SEO Expert (I recommend hiring someone to do your on-page SEO on your site. This is a one time expense.)
Things to Plan Ahead For
There are some things you will want to plan ahead for like:
Marketing (Amazon ads, Facebook ads)
Hiring a monthly SEO expert. (For off-page SEO)
Hiring a VA
Hiring a Pinterest/IG graphics expert
Hiring a Pinterest/IG traffic expert
You may have other expenses to plan ahead for, depending on what kind of business you want to start.
Now, About You…
There are some qualifications that you will need to have to be a successful online business owner. Starting an online business is not easy, however, it is one of the most rewarding things you will ever do. It takes patience and time to build up an online business to where it is making a profit. If you want to be successful at this, here are the qualifications you will need.
You must be persistent
Paying attention to detail
Willing to take some risks
You must be willing to learn new things and adapt
You must be willing to let some things go. If there is something you’re not good at, hire an expert to do it
You must have thick skin (Not everyone will understand or support what you are doing.)
You must believe in yourself
Online businesses are the future. As more and more companies and stores go defunct, more people will be jumping on the bandwagon of online business and the gig economy.
We have already established that you should start an online business to bring in extra income, to lower your stress by setting your own hours for services, increasing your income due to setting your own prices and leaving a legacy for your children.
Now is the time to get started on your online business and your new future.