The Top 10 Benefits Of Online Business
Hi There! I am more than excited to write on this topic because the Benefits Of Online Business that I am about to discuss with you below are the ones that actually motivate me and pushes me to move forward with my Online Business.
In my opinion, there is nothing more better than having your own Online Business on the Internet. Imagine your business being up and running 24/7, 365 days a year, non-stop on autopilot! It is an incredible feeling when you see your business churn out money on autopilot. Trust me, I have seen it and the feeling that you get is ecstatic.
So, without further due, let us dive into the subject. Please leave your comments below in case you need clarification on any of the points below, and I will be more than happy to get back to you.
Benefits Of Online Business
BENEFIT #1: Small Amount Of Risk / Minimum Investment
Whenever you think of starting a business, the first thing that comes to your mind is the Investment and the RISK involved in it. There is a certain amount of inherited risk involved when you become an entrepreneur. We are confronted with losing money, wasting time, not being in profit right away, etc. In a traditional business, the startup cost associated with opening that business is what holds many people back from becoming the creators of their own destiny.
The advantage of starting up your own business is that the investment is extremely low and literally zero risk involved.
It’s both the best and worst part about Online Business.
Let us assume that a person spent $75,000 on setting up a franchise business, how serious would that person take his/her business? Probably pretty serious. Right?
The same person can get into network marketing or setup an Online Business for less than $50 a month but since the barrier to entry is so low, he/she can be tempted to not take it seriously at all. This is one the major reasons why many people quit Online Business or Network Marketing or Affiliate Business or MLM so easily and then keep spreading the false impression that it does not work!
CONSIDER THESE BENEFITS OF ONLINE BUSINESS OVERHEAD COSTS:
- There’s no rent to pay
- No employees to pay (or manage)
- No electric and utility bills
- No permits, licenses, and dues
- No insurance bills
- No equipment and maintenance, upgrades, or upkeep to pay
- No brick and mortar location to keep up
- Very little (if any) marketing costs
THE RISK VS. REWARD RATIO IS UNREAL
That being said, let me warn you though that the biggest RISK could be to your EGO. This is the risk people are worried about the most – Failure or Perceived Failure. Fear of looking like a fool in front of other people or in their own eyes. It’s the one thing that keeps people from taking action in many areas of life. Maybe things don’t grow as fast as you want. Maybe you don’t make as much as you want the first year or two. So what? Welcome to the business world, if you can’t handle this fact then you’re researching the wrong financial path. If you’re not willing to risk what people think of you, you’ll never be successful in anything; certainly not Online Business.
- Lowest Investment
- Zero Risk
- It’s both the best part and worst part about Online Business.
- The Biggest Risk could be to your EGO
BENEFIT #2: Residual Income / Passive Income
An income source resulting from cash flow received on a regular and predictable basis, requiring minimal to no effort by you to maintain it over the long-term. I would say that this is one of the biggest benefit of Online Business or Affiliate Business.
Residual income is when you continue to get paid after the work is done. This includes royalties from books, movies, or songs and also income that comes from real estate or business investments where you don’t actually have to be present to earn it. For example, Bill Gates is still making a residual income from Microsoft even though he isn’t working there anymore.
To create residual income, you need to create something that people will continue to buy on a regular basis long after you’ve created it. A house is a prime example of this as people will continue to pay rent for the right to live in the house. A business needs to have products that are sold over and over again rather than trading the business owner’s time for money.
This kind of benefit is provided to you in the Online Business by way of Affiliate Business or Network Marketing. You build an Online Business and automate the whole process, that it continues to generate revenue even when you don’t actively work on it. You can literally set your business on Auto-Pilot and watch it generate revenue. This is also important for you to be able to retire in life and still keep earning money for the rest of your life!
Don’t let anybody tell you that Online Business is a totally passive income stream from day one. It’s not (at least not in the beginning). Yes you get paid if you take some time off, but if you’re going to build a big business you’ll need to be the leader of your organization.
You’ve got to set the pace. Once you find some solid leadership you can hand off the reigns and take more of a backseat, but it’s still your organization and you’ve got to keep it healthy to keep it growing.
“If you understood residual income you’d walk through a brick wall to get it.”
– Art Jonak, Network Marketer
- Work Once and keep getting paid over and over again.
- You can set your Online Business on Auto-Pilot.
- Helps you retire early in life and still generate revenue.
- Online Business is not Passive Income from Day 1. You have to build it the right way.
BENEFIT #3: Ability To Leverage
Leverage is by far the single most important advantage in a business like this by allowing people to WORK SMARTER, NOT HARDER.
People wish they had more hours in a day; however, in the same 24 hours we all have, we must work to generate income, we need to sleep, we need to be with our family or loved ones, we have to focus on our health and the list goes on … Most people typically work eight hours a day at a job – most times, at a job they don’t even like. In exchange for time, employers pay a set wage. Some employers pay employees for units of a product produced or sold – commission based and sometimes capped. Either way, employee wages will always have a ceiling.
You can leverage Time and People when it comes to Online Business.
MLM companies pay their affiliates for work done by other affiliates. You are able to leverage other people’s time or other people’s money in order to boost your Residual Income. On BENEFIT #2 you saw that you can create a Residual or Passive Income by building an online business and automating it. Now on BENEFIT #3, LEVERAGE will enable you to super charge your Residual or Passive Income by using other people’s time, money and efforts. Literally you make money while you sleep!
The beauty of this feature is that while others are working on their own businesses, you will also be benefitted thereby creating a WIN-WIN situation for both.
In any Online Business, you can leverage Time. This is a crucial factor when it comes to financial success because when you begin to leverage time, literally you are no longer bound by time. This means you can literally do business with thousands or even millions of people at the same time all over the world! This is possible because your business is Online and available 24/7. But more than that, since you are not depending on people but the system, and that is automated, which means your business can transact simultaneously with people all across the world! This is massive power!
So remember – Leveraging People and Leveraging Time are 2 different things and both are extraordinarily powerful!
Richard Branson, the founder of Virgin Group doesn’t run any of the 400+ companies he started but he goes over the numbers each day to make sure they’re performing well and calls the CEOs if there are any problems. Richard Branson can run 400+ companies because he isn’t actually running any of them at all – His CEOs are!
“I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts.”
– John D. Rockefeller
“I focused on getting a lot of people to do a little bit. The key to real success in network marketing is to get a lot of people to do a little bit.”
– Mark and Rene Yarnell, Network Marketing
Some examples of leveraged income include:
- An e-book author selling his/her e-book through affiliates who promote the product.
- A network marketer who builds a downline and receives commissions on the sales made by people in his downline.
- A general contractor who makes a profit margin on the work done by subcontractors.
- Franchising your business model to other entrepreneurs.
- Leverage other People’s Time, Money and Efforts to boost your Residual/Passive Income.
- It’s a WIN-WIN situation for everyone involved.
- Combining Residual Income with Leveraging other People’s Work to generate revenue is an opportunity to Explode Your Income.
BENEFIT #4: Unlimited Income Potential
As told by Robert Kiyosaki & Donald Trump, network marketing is the fastest growing business in world right now. There is no cap on how much money you can generate. In corporate jobs there is a limit to your earning. Mostly your earning will be limited to the market standard of someone with your similar skills and experience. In an Online Business such as affiliate marketing or network marketing or MLM Program, that’s not the case. It is up to you to decide how much you want to earn. You decide, your work, you earn. There is NO LIMIT WHATSOEVER. I know that many would criticize me for saying this but I know what I am saying and just note that you are not limited to working with just one single Affiliate or MLM company. There are many out there and you can diversify and create multiple streams of income breaking all the barriers to earning potential.
However, earning an income from network marketing is not easy. Statistically speaking, 97% of people that join a network marketing opportunity never make a single penny, and most spend more than they ever earn. That being said, most that don’t earn, join network marketing with a “lottery mentality” (never work on their business, and expect to get rich overnight).
It really boils down to your personal level of skill and the amount of work you’re looking to put into it. Your dedication and hard work will help you succeed but the biggest benefit is that there is NO LIMIT to your earnings. You are the deciding factor.
- Network Marketing is the fastest growing business in world.
- There is no cap on how much money you can generate.
- 97% of people in network marketing fail because they don’t work.
BENEFIT #5: No Employees To Hire
This is a clear advantage over traditional businesses. An MLM Affiliate program is a business of people independently working together. Without any employees, it’s possible to build a business right from home. This industry gives you that added benefit, be in business without employees concerns, by having a network of independent business owners working together towards a common goal.
Not having to hire employees means no headache of HR related function. No payroll, no end-of-service benefits to maintain, no funds, nothing!
BENEFIT #6: Portability
With the breakthrough in technology, it is now possible to work from anywhere in the world. You are not stuck to one place or an office where you have to be and work. All you need is a computer with internet connection and you are good to work from anywhere in the world, anytime, anyhow. Affiliates can work part-time from home and set their own hours.
That’s why it is so important that you are well disciplined in this business. If you don’t treat it as a regular business and be serious about it, then failure is inevitable.
We see people searching for Work From Home Opportunities, but the Online Business is actually a Work From Anywhere Opportunity, let alone your home! Just imagine the advantage that you will have with this kind of flexibility. You can go anywhere you want, any time you want, anyway you want and you can even settle down in any part of the world! The possibilities are endless! Truly this is an awesome experience that one must taste to feel it.
But as mentioned above, this is a two-edged sword, because unless you have the discipline in you, it is easy to get distracted and end up not succeeding in your business! You have been warned folks!
BENEFIT #7: No Inventory To Maintain
The Affiliate or MLM Parent Company takes care of the inventory of products. Basically you don’t have to bother about the products. The company takes care of payment handling, shipping, delivery, tracking inventory, etc. So you as a network marketer can focus on just marketing either the product or opportunity.
This benefit alone saves you a lot of hassle and hard work. Do I have to elaborate more on this? I don’t think so. Just imagine the process of renting a warehouse and maintaining a staff force for managing all the inventory as well as the entire business cycle of getting the products to the customers. Well what about the returns? Have you ever thought about that? Luckily, as a network marketer you don’t have to worry about handling the returns or refunds because the parent company has got you covered on that as they will handle that.
BENEFIT #8: Equal Opportunity
The only business opportunity in the world that is totally unbiased. There is no discrimination based on gender, age, qualification, race, looks, religion, etc.
One of the things that make Online Business interesting to people who want to get into the business is that it offers an equal opportunity to everyone who wants to do it. Nevertheless, there is no guarantee that everyone will succeed in this type of business model. Everyone starts at the very bottom and has to use their sets of skills to work their way up. You have to rely on your performance in order to reach the top. So even though everyone is given the equal opportunity, it would still be up to the person if he or she wants to succeed in this business.
People generally complain that MLMs and Network Marketing are Pyramid Schemes which we have already busted in MYTH 1. If you want to read about the 5 greatest myths in Network Marketing and MLM, please click on the below link:
But the point to note is that though you start at the very bottom of the pyramid, YOU ARE THE TOP OF YOUR PYRAMID that you build and the bigger you build it, the bigger your success. So basically there is no end and there is no limit!
BENEFIT #9: Impacting Lives
One of the the biggest benefit and satisfaction from this business is the ability to make a huge impact, not only in one person’s life but in many lives on a global scale! The power of the internet gives you the ability to have an enormous outreach through various social media platforms making it easier to connect with potential customers or distributors/business builders to share the opportunity.
Making a global impact will lead you to build a legacy that you can pass on to your family and leave for your children. Now that’s worth your time and effort building towards your own empire!
BENEFIT #10: Population Boom As Advantage
You may not currently be aware of this but, the human race is currently expanding exponentially. Simply do a Google image search for “world population growth“ and you will see world population is going off the chart. Now, this is going to cause a lot of problems for some businesses, but is great for people based businesses like network marketing.
While the world is looking to curb population growth, this very thing can be a huge advantage to MLMs and Network Marketing because we will never run out of people to build our network and this will mean that there is NO SATURATION POINT for us.
You have seen practically how the Benefits of Online Business far outweigh the Myths and Cons.
This is not a Get-Rich-Quick Scheme but rather a genuine Online Business Opportunity.
The main problem with Online Business is that people don’t treat it as a real business. If you start a real business, will you just quit because it didn’t seem to work on the first few days or weeks or months? No way! You keep on trying to make your business successful. Online Business must also be treated in the same way. In fact I would say that more attention must be given to Online Business because we are not actually in physical proximity with the customers nor the company. Dedication is the key and hard work will bring tremendous results. It is all up to you to make it happen.
If you are really interested in starting your own Online Business, you can join the Internet Business Magnates right away, that will enable a complete beginner to start from scratch or help someone experienced to build and grow their Online Business: