If you are confused between whether to go with the offline business, with the online business or with the combination of both then you need to think twice because both have their own pros and cons that should be considered.
The three factors that you should consider while making the decision are –
- It should be personally enjoyable.
- It should be profitable.
- Preferably, it have to now not placed you liable to being imprisoned.
If you not meeting with the above three factors then probably you are making a wrong decision and this wrong decision may leads to the bad consequences. But if you are meeting with these three factors then there is a great chance of being succeed.
The first factor is highly important because if you don’t enjoy what you do then this is not good for your business in long term.
Now let’s see the the differences and similarities between offline business and online business, so that it would be helpful for the decision making.
Does all business works well as an online business ?
It’s good that every business should advertise online and have an online presence but if we talk about the working then practically only a few businesses brings great results as an online business. Any business which needs your physical presence at a particular location or at a particular time actually does not match with the online business format.
PRO TIP! you really want to start your business then you can easily start it as an offline business and with the time, growth and requirements of your business , you can shift it online.
The main advantage of having an online business is that you can extend you reach to the billions of customers all over the world.
But if you have a service or product based business like clothing, furniture, electronic items, accessories, consultancy, transportation, events etc then yes you should bring your business online. Advertising your product online can create more chances to get a lot of customers and also you can reach the market more effectively as compare to an offline business.
Earn while you are sleeping!
As you know most of the offline business run on certain days in a week for a specific times. If the customer wants to buy anything from a offline business then he can only buy at those specific days and time that you have fixed for your business. It may leads to the change in decision of customer and he/she may go with the online shopping instead.
On the other hand, when you run an online business then everything is available for your customers at any hour and any day. This is one of the greatest advantage of having an online business as you have a great opportunity to make more sales.
If somehow you manage to automate your online business then hurrah! you can have a lot of time in your hand so that you can enjoy your vacations without any worry but remember this requires a good strategy.