196: Five Reasons You Should Consider an Online Business [Podcast]

Company of One

Five reasons you should consider an online business. I spend a lot of time trying to help people like you start something on the side. (Why You Need to Start Your Own Business Now.)

Join me Oct 14th at 6:30 PM Central

We will do a webinar on this subject of Make Money Online: Business Ideas You Can Start from Home live on Oct 14th at 6:30 PM central. Of course, after that, the recording will still be there.

Five reasons you should consider an online business

1. Everyone needs a side income

In Ep 32: Why You Need to Start Your Own Business Now, I explain that everyone needs a second (or third) source of income.

2. Costs little to start

Compared to almost every other business, an online business is cheaper to start, maintain, and market. The risks are just low. Expect to pay from zero down and zero per month to just a few hundred dollars a month once you get moving. But you should at very least always break even!

3. Gets results quickly. A simple way to test ideas

Using other platforms like eBay, Etsy, and Amazon (to name a few), you can tell if your products and services will hit a nerve. You can test your teaching on Udemy, test your consulting or freelancing skills on Fiverr or Upwork, or test your creative and hobby sales on Etsy. Just so many ways to dip your toe into the market to see if you like it and if you can sell it.

4. Does not interfere with your day job

You can work after hours and does not impact the amount of money you make. I have friends who have businesses that made over $200k per year with them working only after hours and on the weekend while keeping their day job.

5. Easy to scale.

To go from a small storefront to a larger one costs a lot of money. Same for opening a second store. But to scale an online business is easy and cheap. You can move from selling on eBay or Etsy alone to your own website for a few thousand dollars (or cheaper if you have some skills)

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Links mentioned in this episode:

• Ep 32: Why You Need to Start Your Own Business Now
• Webinar: Make Money Online: Business Ideas You Can Start from Home