Starting a business of your own might seem like a daunting task. But it doesn’t have to be! Most online business entrepreneurs begin with something they have a passion for, something they love or at least have an interest in.
There are hundreds of online business ideas available on the internet:
- From Online Yoga Classes to Coaching
- From Jewelry-making to Fitness Training
- From Writing to Cooking Courses
Thousands of people are already doing what you are considering. If they can do it, you can do it!
For some, it grows into a substantial business; for others, it remains a passion, a hobby, a fun and enjoyable way of doing something they love that makes a profit. Whatever the outcome, having additional income allows you to take care of your expenses and the freedom to do the things you’ve always wanted to do.
Consider these top 10 reasons for starting your own online business:
1. Freedom and Independence
Imagine the freedom you’ll experience when you’re no longer tied to your boss or job. When you’re your own boss, you have the freedom to do whatever it is you desire. As long as you take care of your customers, you can do what you want when you want! Plus, you’ll also be able to work from anywhere. Can you imagine starting your day with a latte in Chiang Mai, catching a wave in Bali, or checking your emails on the beach in Bermuda?
2. Pride and Satisfaction
Even a small, part-time venture, especially if it is something you have a passion for, will make you feel good about yourself. There’s a sense of pride and fulfillment you feel when you boldly go after your dreams.
3. Expand Your Social and Business Circles
As a business owner, you’ll move toward cooperation and collaboration with others as you create and grow a profitable venture. You’ll meet customers, suppliers, service providers, and advisors, all of whom have a vested interest in helping you succeed. Plus, there are scores of online business communities and Facebook groups you can join to help grow and promote your business. Starting your own business will open so many doors of interest and opportunity for you.
4. Tax Breaks
Check with your tax office or accountant for the latest accurate advice, but there are many ways you can use your business to reduce your tax liabilities. For example, not only can you claim the things you buy for your business, like computers and office furniture, but you may also be able to claim the office space you use at home, phone and internet service costs, and even some utilities. And these are just a start!
5. Financial Freedom
What if your online business took off, and you started making more money working from your hobby than you did at your regular job? Is that possible? Yes, thousands of people have already done that. Why not you?
6. Financial Stability
Knowing that you have enough income to pay all your bills and still have extra money left over brings peace of mind. You no longer have to worry about living paycheck to paycheck. The additional income you earn can be used for your savings, retirement fund, investments in stocks or bonds, to go on your next travel adventure, and so on.
The biggest asset you can ever possess in life is self-confidence, and having even a small business of your own, doing something you love, will bring out the very best in you and grow your confidence. As your business grows, so will your confidence!
This is a perfect time to start your own online business! Recent events have led to massive increases in people buying products and services online. Many of these people could be your customers. There is never a better time to start your own business than NOW. No amount of delay or procrastination is going to make it quicker, safer, easier, or more profitable. It’s essential to get going. You can make any changes or adjustments as you go. What’s important is that you START.
Related Article: How to Start a Business: A 12-Step Guide for Aspiring Entrepreneurs
9. More Options and Greater Control Over Your Life
Working for yourself allows you to take back control over your life; the time you spend with your family, the amount of income you make, and the type of work you do. When you have more money in the bank, you have more choices, and all of them are under your direct control.
10. What’s Your “Why?”
Determine your strongest personal reason for starting an online business. For example, maybe your strongest desire is to travel, and an online business can enable that to happen, or you want to create something that will make a difference in the world, or you simply want enough income to take care of yourself and your family. Whatever your reason, hold onto that feeling. Remembering your “why” will motivate you to overcome challenges, persist in your business, and drive you to succeed.
Start Your Online Business Today
Life is short! Make the decision and do something today that will move you closer to having your own business tomorrow.
Ready to get started? Here are a few resources to help you.
- Passion to Profit Workbook: a digital workbook that will give you a roadmap for turning your passion into a profitable online business.
- How to Find Your Purpose Worksheet: Not sure where to start when thinking about an online business? Grab our free worksheet to help you develop a business idea that is aligned with your passion and purpose. Sign up below to get access.