8 Powerful Reasons Why You Should Start Your Own Internet Business
Especially if you’re not sure whether you’re an entrepreneur or not.
If you have aspirations to start a business, become your own boss, and take charge of your own financial future, there has never been a better time.
The internet has dramatically changed the business landscape forever and opened up a new world of unlimited opportunities available to us all.
Each year, more and more people are turning online to find solutions to their problems, buy goods, and seek out services, and it’s safe to say it is a constant upward trend with no end in sight. The best thing is, anyone can do it.
When I started my first online venture, I had zero business experience and no clue what I was doing, having never created anything online.
But with the right plan and mindset, I managed to find a way to build it to the point where I was able to quit the day job that didn’t interest me and focus all of my time and energy on further online projects. If I can do it, there’s truly no reason you can’t do it either if you commit and take action.
The actual HOW of building an internet business isn’t the problem, as these days there is so much quality information out there easily accessible to anyone with an internet connection.
What is most important is WHY. Why you want to start your own internet business, what it would mean for you, your future, and the people you care about.
If you have enough good reasons to do something, you will rarely find motivation a problem. When it comes to achieving anything worthwhile, reasons should come first, and answers second.
If you have enough underlining reasons to do something, you will be naturally pulled towards achieving it instead of having to force yourself because your vision is so compelling. If you want something badly enough, you won’t hesitate to do what’s necessary.
There are many powerful reasons to compel you to create your own internet business, but I have found the following 8 to be some of the best:
1. Earn passive/Residual income
There are basically two types of income you can earn, active income and passive income. Active income is money earned in exchange for your time, such as a typical job.
You work X hours; you get paid for X hours. The problem with active income is when you stop working or lose your job, your income disappears.
Then there is passive income, also known as residual income, which is the way towards true financial freedom. Ever heard of earning money while you sleep? That’s essentially what passive income is, money that you earn on autopilot from a business.
To most people who work a typical 9–5 job where trading their time for money is all they’ve ever known, it may sound like some far-fetched dream, but when it comes to the world of internet business, it is a reality.
If you’re not familiar with this type of income, here’s how it works. You put in the work initially to set up a business, such as your own website, store, blog, book, or product. Then you put systems in place to automate the sales process, so you don’t have to actually be present for it to work on its own and make you money over and over again.
Instead of getting paid for the exact time you work as an employee; you get paid for how productive you can be with your time.
“You don’t get paid for the hour. You get paid for the value you bring to the hour.” — Jim Rohn
This allows you the freedom to create your own schedule and spend your time however you wish, whether that’s adding to or improving your business, setting up new online businesses to diversify your passive income portfolio, taking time off to enjoy life, or pursuing other passions and hobbies.
The overall premise is to get to the point where your passive income exceeds your lifestyle expenses, and you, therefore, have created the freedom to work only when you choose to, not because you need to.
Don’t get me wrong; it takes hard work and dedication like anything worth achieving, especially in your business's start-up phase. Passive income isn’t created passively.
But the truth is, most people don’t even try out of fear or doubt, so if you’re willing to commit to taking the necessary action, then you’re already way ahead of the pack.
And to be honest, the work isn’t all that hard; it’s just a matter of making yourself ACTUALLY DO IT and be consistent with it over a period of time. They say that successful people do what unsuccessful people aren’t willing to do. This couldn’t ring more true here.
Just do the work. Your investment of effort will pay you back many times over.
“Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people can’t.” — Jeremy Miller
2. Limitless income potential
When you work as an employee, your boss decides how much money you make. When you work for yourself online, the power is in your hands, and you can essentially write your own paycheque according to how committed you are to your online venture/s.
Anything is possible, from earning a few extra hundred dollars per month to supplement your income to creating ultimate financial freedom and funding the lifestyle of your dreams, and everything in-between.
The sky is the limit, and you’re only limited by how high you set your own bar and how much time and effort you are willing to commit.
3. Complete location independence
If you love to travel and have been inflicted with wanderlust like myself, this alone is reason enough to start an online business. You can choose to work from anywhere in the world, so long as you have a computer/laptop and an internet connection.
No more being tied to the one location and having to wrestle with fellow employees for vacation time. Who said you have to wait until “retirement” to travel the world and be free from the corporate shackles?
With an internet business, you can see the world now when you’re young, and bring your mobile office along for the ride.
4. Follow your passions
If you’re like most people, chances are your day job doesn’t exactly have you bouncing out of bed every morning with enthusiasm and zest for life. As an employee, you do as you’re told and complete tasks every day to increase somebody else’s bottom line.
If you start your own online business, you have the freedom to pursue projects that actually inspire and interest you, which is much more fulfilling. Whatever your passions are, there is surely a way to create a business around it and earn a living from it online.
Plus, when you’re working on projects you actually care about, you’ll find that it’s easy to put in the effort required to succeed since you enjoy it so much. In fact, you may not even view it as “work” at all.
“Choose a job that you like, and you will never have to work a day in your life.” — Confucius
5. Insanely low start-up costs
My most recent new internet venture set me back around 100 dollars to get it up and running (this included domain name and hosting fees), and it’s not uncommon to set sail with even less than this.
Compared to what it would cost you to start up a traditional brick and mortar business, this is peanuts.
A common excuse you’ll hear people use to avoid starting their own business is “it’s too risky,” but with such low start-up costs, you can test different business ideas. All that you are risking is a few bucks and some of your time, which, let’s face it, would probably have been spent doing something much less productive anyway. I don’t know about you, but not even trying sounds risky to me.
Nobody is saying you have to quit your job and jump into the deep end where it’s sink or swim (although for some people, this “burning of the bridges” could be exactly what you need to motivate you to take action like nothing will).
For most budding internet entrepreneurs, I would definitely recommend keeping your day job for now and squeezing in as much spare time as you can into your business on the side.
If you are serious about this, you will make the necessary sacrifices to find the time. You have nothing to lose and everything to gain.
6. Easily reach millions worldwide
The internet has connected the world, and you can find ways to reach and influence thousands or even millions of people with your information, products, and services.
You only need a minuscule fraction of the global pie to thrive, and the pie is forever growing in size due to the always increasing popularity of the internet.
The internet has become such an integral part of our daily lives, and we live in a world where it wouldn’t be much of a surprise if your child’s first spoken word were “Google.”
7. Your business runs 24/7 365 days
It doesn’t matter what you’re doing at any particular moment in time; your internet venture is open for business 24 hours a day, 365 days a year.
Picture this. It could be 3 in the morning, and you’re nicely tucked away in bed dreaming of flying sheep, and at the same time, someone on the other side of the globe is visiting your website and making you money.
Waking up in the morning to see new sales that have come through overnight is a surreal feeling that never gets old.
8. The internet is the future
The fact of the matter is that the internet is undoubtedly the way of the future, and if you don’t get on-board, you’re going to fall behind. As time goes on, more and more people turn to the internet to find solutions to their problems, buy goods, and seek out services.
“If your business is not on the internet, then your business will be out of business” — Bill Gates
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Getting into online business has totally changed my life direction for the better, and there’s no reason it can’t do the same for you.
You don’t need any special skills or expertise as everything is learnable; you need the mindset not to be afraid to give it a shot. All I can say to you to finish up here is this: get in as soon as possible.
You don’t want to be sitting there a year or two later working at the same dull job that you hate and regretting not having made a move. Get on it! Your freedom counts on it.