Sep 22, 2015 12:00 PM EDT

Is Having An Online Business For You? The Pros And Cons Of Being In The Online Market

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online businesses

(Photo : Wikimedia Commons)

Online business, just like any other businesses, has lots of things to consider especially when you are just starting to venture into this field. So, to help you decide whether online business is meant for you or not, here are some pros and cons for you to consider.

PROS

Inexpensive Startup Cost

Starting up an online business won't require you thousands of bucks as investment. You don't need to have leasing costs, no equipment to buy, and no other expenses to shoulder. You just need to have a website set up that would only cost you less than a $100. You also need a domain name, Web hosting and a shopping cart. Services as these can be purchased from websites like GoDaddy. The site offers plans and add-on features that can help you start your business.

You can do what you love

Because you are your own boss and no one sets the schedule and rules but you, you get to control your company's "destiny" according to LinkedIn. So the outcome of your company will be based on your capability or capacity to manage your own online business. More or less, everything you want and the things you are passionate about will be the subject of your business, making it not just profitable for you but enjoyable as well. 

CONS

No one to motivate you

Unless you work with a business partner or you ask your family members to help you out, you most likely will be working on your own. Unlike in a company that you have a boss and other constituents, being alone working in an online store can leave you no choice but to rely on yourself. So, when the time comes and you are already faced with all the uncertainties of your business, you can easily be devoured with anxiety and stress. This could possibly happen because no one is there to help you out. Everything is on you alone.

Marketing your site in the sea of online businesses

Based from Internet Live Stats, there are already 968,882,453 websites tallied as of September 2014. The number might have subsequently declined as of now, but it is expected to grow to 1 billion sometime from later this year to the middle of 2016. Given this stat, there is no doubt why market competition online is so tight. That's why aspiring online entrepreneurs must know how to optimize their site to reach potential customers with these large competitors present. Or else, your website would be lost among the market's flow and your business in vain.

So is online business really for you? Weigh everything first, do your own research then decide. 

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