The Pro’s And Cons Of Running an Online Business
Special Guest Post by Erik Emanuelli of No Passive Income
If you are like the average citizen of any country in the world, you are probably making your living by working in a 9-to- 5 day job. But there are millions of enterprising people who are earning money running their own online business.
Thanks to the modern technology and the great advances in telecommunications, building an income with the internet has become a reality. For the last six years, I’ve been able to earn an increasing revenue thanks to my online businesses.
Working from home has many advantages, but it also has disadvantages. Sure, it’s a dream come true, but it’s not all fun and games.
Let’s take a look at the pros and cons of running an online business.
As soon as you stop working, you are already at home, saving a lot of time in traveling and being able to get up later in the morning because you do not need to go to the office.
You can spread the work throughout the day, without being forced to work only during office hours. That’s a flexible schedule that you can manage based on your needs, with rules that you can set yourself.
There are no time restrictions, you are free to optimize the working time according to your family, economic and business goals. After you master the basics of time management, you will be able to perform professional commitments in order of priority, always keeping your physical and mental well-being first (included your loved ones).
You are your own boss! You are solely responsible for your work management. In addition, there are no colleagues to whom adapt your pace of work.
You are therefore FREE to organize your schedule according to your personal living standards.
You are also in charge of the important decisions, which will influence the future of your business. Anything about marketing, product or service development is something that you should take care of by yourself (or someone else, if you decide to hire someone).
Reduced Levels Of Stress
Get up in a hurry, get ready and get in the rush hour (both outward and return) generates stress. After an hour or more in the traffic, you will arrive at work already stressed. The prospect of being late because of traffic increases the level of stress. Avoiding the commute, you will be much more relaxed, being able to sleep even longer and having more energies for your family, friends or hobbies.
Working from home allows you to focus on your business goals. You are free from any other source of tension and professional nervousness: zero pressure from a stressed boss, no unfair competition from competitive colleagues, zero frustrations caused by injustice or mismanagement in the workplace.
Low Startup Cost, More Savings
Working from home lets you save on gasoline, but not only. You will save money on food, avoiding to eat at the restaurant (breakfast and lunch), while you will benefit from a much healthier meal at home. If you have young children, you will save money on the baby-sitter (if you are able to work while taking care of them).
Another benefit of starting an online business is that the startup costs can be very low. With just a few dollars, for example, you can buy a domain name and host your website on a cheap plan. The rest is all your hard work!
Free Online Tools
Other than paid ones, there are so many free tools you can use for your online activities.
Or with WiseStamp, you can create a professional signature for your emails.
Or again, I suggest you Trello, a management app to keep track of everything. Easy to use and really flexible.
There are plenty of awesome free online tools you can use to simplify or boost your business.
The activities that can be done from home are endless, especially since the Internet has become an integral part of our lives.
You can do business with your freelance skills, opening an online store, becoming an internet marketer or a professional blogger (check here how to start a blog with less than $50), etc.
There are no limits, you are free to follow your passions and your interests. In addition, with good management of your time, you are allowed to invest in yourself, increasing your knowledge and experience and making your professional life even more interesting and profitable.
You Need Self-Discipline
It is easy to let it go when you are alone at home. Getting some sleep during the work time, an afternoon siesta after lunch, a bit of TV or any other distractions you can find in the comfort of your home.
To avoid this, you need to be very disciplined and focus on your business.
Many people do not like being alone. The classic example is the retired former employee who still goes to work every so often to see colleagues.
Many people make their social life in the office. Others simply do not work well on their own as they would in the office or with their colleagues.
You can avoid loneliness by organizing to leave home regularly for meetings with your friends or physical activities such as gym or jogging.
It is statistically proven that people who have an online business dedicate more time to work than employees. I think it’s because there is not a fixed schedule in which you can leave the office, so you may tend to work even during extra hours.
There’s no secure salary or the right to a health insurance when being a self-employed. Plus, you need to deal with laws, licenses and taxes.
Basically, if you are an employee, all you need to worry about is “working”, while there are much more to take care of when running an online business.
Working from home and building an online empire is the dream of many people all around the world. You can live the internet lifestyle and enjoy the freedom of earning from your passions.
But do not underestimate the hard work that requires an online business!
To be productive and efficient, it is necessary to establish and organize your working methods, i.e. creating adequate space, purchasing the necessary equipment and, most of all, having self-discipline and avoid distractions or interference during your working hours.
Remember, you’re solely responsible for making your business successful!
What do you think?