3 reasons why you should start an online business

If you haven’t started an online business, well it is not too late.

While other markets may seem saturated, and everyone seems to be selling something, it may feel like you are behind the curve.

Except, in Zimbabwe, where a huge population is getting online now, well, you have ready ground to make a buck if you are clever about it.

The opportunities are there. 2022 had USD5.7 trillion as what was realised from global ecommerce.

And today, we share three reason why you should start an online business.

1. It is pretty inexpensive to start

One of the most difficult things in starting a business, is the massive overheads. With an online business, it could be completely free to start the online aspect. For example, if your product is digital and is sold via social media, and you can edit images, well you are in the mix. Even if you have a delivery service, not needing to have an office or shop people need to find and come to means you have less costs. Also add the fact that there is a lot of automation available now, a lot of it free, it means your hire costs are lower. We do however think you should consult a credible consultant for things such as design (if you don’t know it), balancing the books and that sort of thing.

2. Potential for growth is huge

Even with existing technology, access is huge. As we mentioned above, you don’t have to try and get people to come to your shop. Your shop is a google search away. Or a social media search. Then there is the evolving tech which comes with it. People are talking the expanding AI at present, well, you must understand there is a lot.

3. Better capacity for passive income

The hardest part for many entrepreneurs is the business working without them. With automated systems, the capacity to get passive income is enhanced, with anyone in the world able to make a purchase at their convenience.

In all of this, you will need the old school things. You need to do have a business plan, have continued strategies, and be able to pivot when necessary. And keep a look out for trends as they change in technology.

Are you running an online business? Share your story with us via email. Click here to get in touch