The internet has definitely changed the way we interact with the world around us. Almost every good or service is available at the click of a button. Thus, it would only make sense to establish your business over the internet. However, a number of business owners are reluctant to take the plunge due to various reasons.
This post shall debunk some of the common myths associated with getting your business online. These are:
Myth #1
The initial capital investment is too high.
Fact
When compared to a regular business with physical branches, the initial investment and operational costs of an online business are much lower! All you need to do is purchase a domain that speaks to your targeted audience.
Once you have purchased the domain, get a website hosting service provider that can host and run the website for you. Some companies may even throw in website building, which is a cherry on the top. If choosing a dedicated hosting service may seem like a lot of money, you can always opt for shared hosting at more affordable rates. All that matters is choosing a reliable host.
You save up on wages, rent, and utilities by the time your website is already up and running! Even if you are already established in your region, the additional cost of setting up an online store would pay for itself in a short span of time.
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Myth #2
Running an online business requires technical know-how.
Fact
Quite naturally, if you are tech-savvy and can carry out the task yourself, it would definitely prove to be a much easier task. However, that does not mean that only the tech experts can successfully run their business in the online environment. These days, a number of skilled professionals are offering their services at competitive prices.
Thus, you could always rent a brain and expertise even if you lack the requisite background!
Myth #3
Online business will not work in my location.
Fact
Businesses that operate from brick and mortar stores often worry about choosing the perfect business location. However, none of that matters when you have a digital presence. Once your goods and services are available on the internet, you have the capacity of reaching a wider audience. Your business will enjoy a global appeal and you will no longer be restricted by physical boundaries.
So even if your business does not do very well in a certain region, it will definitely pick up elsewhere. Furthermore, time zones will hardly make a difference, which will allow you to run your business at all times! The 24*7 services will once again appeal to a larger audience. At the end of the day, all you need is a functional website powered and backed by a dependable hosting service provider and your business is good to go.
Myth #4
If your business doesn’t perform well, it is busted.
Fact
If you are thinking to start out a new venture, you may be tormented by the trials and tribulations that follow with it. The worst case scenario will always be ‘what if my business fails to take off?’ The prospective thought of incurring losses and running into debts is enough to dissuade anybody. However, starting an online business has an advantage – you will (almost) always have a taker.
A number of entrepreneurs are on the lookout for businesses that are dying or need assistance. It gives them the foundation to build upon and revive it using their skill and knowledge. Sometimes, it is about them noticing the potential and trying to rescue you. Either way, you are not as doomed as you think you might be.
Interestingly, it is also true for businesses that manage to make a strong impact. There will always be the big players interested to either invest or take over the business from you, which normally equals big bucks! So whichever way it goes, you are bound to profit.
Myth #5
Online businesses do not have the personal touch.
Fact
Online businesses are considered to be impersonal when compared to your local mom and pop store. You may think that rather than presenting your story or your background, you are only offering a bunch of codes for them to see.
However, online businesses can truly personalize the client experience. This is possible thanks to the data collected about the user when they sign up for your services. Mostly, this information pertains to the age, sex, location of the visiting demographics. Once you know these details, you can send them specially curated emails and updates depending on their purchase and behavioral patterns. Such a strategy will not only feel personal, but it will also boost your advertising and marketing. Similarly, on special days such as birthdays, you can always present gift vouchers, which would be highly appreciated by the customers.
Basically, all the collected data can really tip the scales in your favor if you know how to use it well.
Online businesses are starting a revolution and that is here to stay. Thus, it is wiser to get onboard and float your business on the internet!
