Now this is something I think should be talked about more then it is. No one really talks about the pro’s and con’s of online business, all we really ever hear about are what’s so amazing about it…
“You can work from home!”
“You can take your business with you anywhere!”
“You get more freedom!”
-Basically every online business promotion site out there.
Now of course with online business blogs (like myself) you write to encourage and show opportunity, but I do mention that it’s nothing that is just handed to you overnight.
But I don’t think I’ve really gone over the true pro’s and con’s of what it’s like to be working for yourself and owning an online business. Like what is life on a day to day basis and what are the true stresses and freedoms I enjoy.
I understand that not all people will feel this way, but I’m basing this list off of what I feel is accurate and what other online entrepreneurs I know of that are getting from their businesses.
Quick note: Over time I have come to terms with what it takes to run my online businesses, and have learned a very important factor in life.
“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.”
Write it on a piece of paper, put in next to your computer, or just forget about it, it’s up to you, but I always refer back to this to keep my sanity.
What you’re doing or thinking of doing won’t be easy, but if you strive for what you want out of life, and are willing to put the work in now for a better tomorrow, you will reach that light at the end of the tunnel.
So with ALL that being said let’s get on to what you came here for:
The Pro’s And Con’s Of Online Business
I’m going to list off some common expectations from a online business and list off the pro’s and con’s of each one then we’ll get into the straight pro’s and con’s list.
“You get to work from home.”
- Pro- You get to work in the comfort of your home in your PJ’s.
- Con- Being in a non-work environment leaves you vulnerable to distractions cutting down on productivity.
“You’re your own boss”
- Pro- You don’t have to deal with a boss breathing over your neck all day.
- Con- It’s up to you to manage your tasks for the day. You really have to learn how to prioritize and manage tasks for yourself with what is going to move your business forward and what isn’t.
“You make your own hours”
- Pro- You can sleep in or stay up late, your working hours are entirely up to you.
- Con- You find yourself putting off tasks that need to be done telling yourself, “you have all day to do it.” Leading to procrastination and ultimately hindering the success of your business.
“You’re in control of your income”
- Pro- You have the ability to control the amount of income from the corrective action and effort you pun into your business.
- Con- You no longer have the security of knowing a check is coming in each month. Some months are better than others and you’re going to have to adjust to a little inconsistency here and there.
“You get more freedom”
- Pro- You can take your business with you wherever you go, and can travel whenever you please.
- Con- Unlike a normal job when you’re off you don’t have to worry about work. Having a business on the other hand is something that never stops. So even if you are on “vacation” unless you have a way to automate your business or have someone to look after it you’re not really going to be able to get away from it completely.
The Pro’s Of Online Business
You can do what you love
This truly does speak levels to me and to most entrepreneurs online or offline, enjoying what you’re doing keeps you doing, it motivates and inspires.
You can pursue a passion of yours and can use that drive to create something amazing out of it, that’s the beauty of online business.
If it wasn’t for me loving what I do, and truly being fascinated by it, I don’t think I would be doing what I am today.
Your potential reach for you audience is MASSIVE
Something that most people forget to take into consideration when comparing online business to an actual brick and mortar business, is your potential audience reach.
With a typical brick and mortar business you are limited to that location and that local consumer base. Unless you have multiple stores all across the country, or have an incredible product or service that people are willing to travel for your consumer reach is going to be limited to that location.
With an online business you can target audiences across the world, really expanding your reach compared to the usual brick and mortar business.
They typically have low startup costs
Notice the keyword there “typically”, most online businesses “typically” have low start up costs, if it’s affiliate marketing, starting up an e-commerce store, selling physical products, they usually won’t break the bank to get them up and running.
But if you’re looking to create the next major social network or software company you might want to get in contact with some investors with some pretty deep pockets to get that one going.
The Con’s Of Online Business
It won’t happen over night
With the exception of the rare business launch that makes millions overnight, BUT even with that, that business was not created in one day. It probably took years to get to where they are today!
A reality you’re going to have to face is that actual, legitimate, online business models WILL NOT make you rich overnight.
I’m not trying to be negative, just truthful, that’s how so many people fall into scams these days.
They get drawn into the promise of quick riches and flashy cars and houses that they overlook all the flaws with the program.
It will take work! And in most cases it won’t be easy, but if you’re willing to stick it out for the long haul you can achieve some amazing things.
You have to become a jack of all trades
What I mean by this, is when you’re running your business (especially starting out), you’re not going to necessarily have this big team behind you.
You’re going to be the CEO/Marketer/Customer Service Department/Product Development Team/Accounting..etc.
And if something goes wrong, guess who has to fix it, you do! You can’t go off and blame someone else for your problem, it’s left to you to find a solution and correct it.
Most people can’t handle this, that’s why it takes a special kind of person to go into business for themselves.
You’re on your own
This is something that a lot of online entrepreneurs struggle with that a lot of people don’t realize.
Thanks to the beauty of the online age, people are now given the ability to build potentially million dollar businesses essentially from there basement and on a laptop.
Now this might sound like a blessing, but here me out…
The thing about this is, that people find themselves more miserable then ever when they start running their businesses full time.
When people first start off, after the initial shock and joy you get from quitting your job and being officially on your own, a little reality starts settling in.
Like I mentioned earlier you’re usually left with all the responsibilities of running your business, if something goes wrong, you don’t have anyone else to turn to, it’s up to you to find a way to fix it.
With the initial start of your business, before the steady cash flow, before automating aspects of the business, before hiring some of your first employees, you’re usually going to find yourself very busy.
This leads to most of your day being eaten up working that you’re left with very little time to really enjoy doing things you love.
This leads to something that most people can’t stand but can’t seem to get over (in the beginning).
You get distracted every turn of the way, maybe you have a piece of sales copy that needs to be written, but instead you’re on Facebook looking at cat videos. Why is this?
Your brain is literally dreading the day ahead of it, it knows the stress, and headache to come with the day that it finds any way it can to find some enjoyment. YOU NEED TO ENJOY LIFE!
Take my advice and thousands of other entrepreneurs, ENJOY YOUR DAY!
Take at least an hour to do something you enjoy doing, every day to take some tension off your mind.
If it’s painting, playing the piano, or picking up an old hobby, bring more enjoyment into your life!
Another thing is use your time wisely, if it’s not going to further your business then don’t do it, having a productive day doesn’t mean you had to work 12 hours of the day on your business.
It’s not the amount of time you spend doing something, it’s the way you spend that time to get something done.
Wrapping Things Up…
Now with all this being said, I’m not trying to scare you out of following your dream, I’m just trying to inform you of what’s might to come.
Online business can be a huge blessing and really can give you the lifestyle you always wanted IF you approach it correctly.
I’m a firm believer that the world NEEDS more entrepreneurs, we’re innovators, we create value, we create jobs, and we make this world a better place.
So if you’re someone who wants to start their journey out into the online world, feel free to check out the #1 program I recommend for beginners looking to start their first online business.
They’re a great program full of driven online business owners, who train, mentor, and help people looking to start off online. It’s a great program to start with, I should know, they got me started with some of my first online businesses (like this one here!)
So if you’re interested, or want to know more about it, just click the link above or that nifty little banner below to check it out.
Until next time,
P.S. We have a serious Taco Bell addiction and the affiliate links on our site lets us order off the dollar menu. Thanks for your support!