5 Advantages And 3 Disadvantages Of A Home Based Online Business
Do you want to start a business with minimum investment? Do you want to choose your own working hours? You can start a home based online business to enjoy flexible working hours and earn without stepping out of your house. Read on to know the advantages as well as the disadvantages of a home based internet business.
Online business – What are its advantages?
The advantages of an online business are discussed below:
1. Minimal investment – You can start an online business with minimal investment. All you require is a personal computer or a laptop and an internet connection. Moreover, you don’t have to take help of media to advertise your products and services. You can save a substantial amount by advertising it online.
2. Quick set-up – It is possible to start such a business as soon as your website gets launched. You don’t have to wait for long periods or spend huge amount of money for taking out loans.
3. Be your own boss – By starting a home based online business, you can be your boss and take a day off whenever you want to. You don’t have to answer to anyone. You may also earn more in comparison to what you’ve earned when you’re a salaried employee. Moreover, you’ll be directly benefited for your hard work.
4. Freedom to work – For doing an internet business, you don’t have to step outside your home; you can work whenever you wish at the comfort of your house. Moreover, you can also run a number of businesses simultaneously and do your work while traveling from one place to another.
5. Fast growth – It is comparatively easy to advertise your products and services to your targeted customers with the help of Internet. By employing basic SEO techniques, you can start getting a number of visitors to your website. It helps your business to grow fast. Moreover online transactions facilitate quick payment.
Apart from above, it is quite an environment friendly approach to start an internet business. This is because you can promote your business by putting your catalogs and newsletters online and you don’t require paper, which in turn, helps to save trees and environment.
Online business – What are its disadvantages?
A home based online business has some disadvantages, too. They are discussed below:
1. High competition – As you present your business online with complete details of your products and services, it becomes quite easier for anyone to copy your business and start competing with you by advertising similar products and services.
2. Need to be tech savvy – You need to have minimum technical knowledge in order to start an online business. As for example, you should have an idea regarding how to write and edit text in HTML, how to add graphics, create labels as well as acquire the technical knowledge of uploading a file in the server.
3. Unwanted communication - An internet business also opens up unwanted communication. If you post your email in your website and allow the consumers to contact you, then there’s a chance of getting a lot of spam emails everyday.
Another disadvantage of such a business is that it is easy to get distracted as you’re working from home. One of the best ways to avoid distraction is to select definite working hours and identify a working area at your home to carry out your online business. This will help you to concentrate and in turn, get success in your business venture.