Aspiring entrepreneurs planning to start a business today need not have a huge capital. They don’t even have to set up a physical store and rent a commercial space in order to sell and promote their products and services.
The best solution to business-minded people with a limited budget is to start an online business. And why not? There are many benefits to be enjoyed if you opt for this.
Firstly, the internet is free to use. Millions of people use it every day to search for and share information without paying any fee.
A second benefit is its global reach. Unlike a physical store which has a limited target market, an online business allows an entrepreneur to offer his products and services to potential customers around the world.
The free platforms available are another reason why going online is an excellent option today. You can set up a website using a free service and you can even design it yourself if you have a little technical background. Some website templates have a drag and drop feature and don’t require HTML coding which makes it easy to design your web pages.
Perhaps the only thing you’ll have to spend for when launching an online business is the website hosting aspect. Since having a unique and easy to recall website address or URL is vital in being searchable and in driving traffic, you need to have your site hosted by a specific web hosting provider.
Apart from your main website, you have a lot of choices as well when it comes to promoting your business. With the numerous social media sites in existence today, there should be a few that you can use to your advantage particularly if you know which platform your target market frequently uses.
In addition to the social networking sites, there are free blog platforms that you can utilize as well. This is where you can get in touch with your audience on a more personal level similar to the social media sites. You can share updates including tips and strategies useful to people on a regular basis.
With an online business, you provide people with the most convenience in purchasing your offerings. As long as you post comprehensive information about your business including contact details on your website or online shop and engage with your audience in social media sites regularly, there’s a good chance that you will succeed in attracting potential customers from the different parts of the world and keeping loyal customers moving forward.
Research has confirmed that businesses with websites experienced increased sales compared to those that have not yet established an internet presence. MYOB reported that in 2011, 23 percent of businesses with a website increased their revenue while 37 percent claimed increased customer leads. Other positive results found as a result of their web presence were better conversion of leads to sales (33 percent) and becoming more competitive in the market (30 percent).
Experts are encouraging retailers to go online soon, if not today, to further grow their business. The internet technology is the future and entrepreneurs that don’t utilize it will be surely left behind.
Photo via newrichstrategies.com
About the author:
Teresa Te is a freelance blogger who specializes in writing posts related to retail business and business technology including the multi pos.