In the past, it was a privilege to start a business as starting an own business was not easy because there are many things that need to take into consideration such as huge capital for products, shop lots, warehouse and rent. Nonetheless, with the arrival of the internet which has given us social media, it is safe to say that anyone can start their own business online as you do not need to fork out a lot of money as compared to opening a physical shop. Even though the entry-level was lowered (to start a business), it does not mean that it is gone. That is because you need to think of what kind of products you are going to sell, the source for suppliers and come up with a sales strategy such as ad campaigns and discounts.
Why you should start an online business
1. Inexpensive to start
Usually, it is required to have a huge capital when starting a business with a physical shop as the business owner will have to pay for electricity, shop lot rent and space. Hence, this is why starting a business with a physical shop is not as easy as it seems as not everyone will have the startup capital to do so. In comparison with an online business, the startup capital is not as much as a physical business and the cost on rent will be redundant as online business owners are able to conduct their business from the comfort of their own home – as long as there is wifi, products, computer and printer to print shipping labels.
2. Easier than a physical business
Without a doubt, an online business is much easier to conduct than a business with a physical shop. Online business owners have the freedom to choose the platform they wish to sell on with the popular E-commerce site in Malaysia such as:
- FB Marketplace
Business owners can wish to sell their products on multiple platforms if they wish to do so. However, there are clauses in sites like Shopee where business owners are not allowed to sell anywhere else if they have the ‘preferred’ seller status. Besides just selling on e-commerce sites, online business owners can also create their own website to sell their products. Albeit, it will take up a lot of time as compared to selling on E-commerce sites.
3. Save cost
Another reason is that it is encouraged to start an online business for those who have limited start-up capital as there is no need worry to pay expensive rental shop lot fees if your business does not go well. Many business owners have suffered from huge losses when the business is not doing well, on top of that, they also have to pay the rental fee for the shop lot. With online business, this is the least of your worries.
1. Find your niche
You need to figure out what kind of products you are looking to sell because if you sell a product with low demand, there is a possibility that you might struggle to sell the products. Additionally, it is best to sell products that are your niche and also something you are knowledgeable about so that you will be able to assist customers’ enquiries. Some of the products with high demands are house products, shirts like Minecraft bedwars server, video games and many more.
2. Invest in SEO / Paid ads
It is advised for online businesses no matter how big or small they are, to invest in SEO. That is because SEO is beneficial for your business to reach out to organic visitors to your site. Hence, bringing in new and more customers. Not just that, if you have the budget to do so, online business owners should also invest in paid ads so that their products can reach out to more potential customers who are looking to get the particular product that they are selling.
3. Start small
At the beginning of everyone’s online business journey, it will be difficult to attract people to follow / like your page or shop. You need to slowly build your online empire by asking your friends and relatives to help you out such as following, liking or sharing your online shop link on Facebook. It will take some time to grow as Rome does not build in one day.
In short, do not wait any longer, now is the time for you to start your online business journey. You will never know what will happen until you try.