Profitable online businesses

A PROFITABLE ONLINE BUSINESS FROM SCRATCH?

So you’re 55+, and fancy the financial freedom to re-design your life to reflect what you really want to do, earning money ethically and within your value system, when, how and with whom you want and all without “betting the farm”, an online business may be the answer for you, and be fun too… read on

So, starting from Scratch, with no experience necessary – is it possible?

Is it possible to start a profitable online business – from scratch, with no experience?

A profitable online business – how?

I learned the steps to turn interests into income and create a life and business I truly enjoy BUT it’s not quick and it’s not easy. Depending on what you already know it could take someone between 12-24 months to get off the ground and then it also depends on your investment in terms of time and money.

A profitable online business – why?

The online marketplace was going to be dominant anyway but the recent outbreak of COVID has given the change toward online business, another “shot in the arm”.

One great thing about an online business is that you can leverage other’s time, money and investment and get paid for doing it! Having said that, just like the offline (traditional) marketplace, you need to know what to do and what to avoid, before you start.

One up and running, it becomes easier to scale up, but the first step isn’t an easy one.

A profitable online business – is it possible?

I genuinely believe that there are effective and profitable approaches to earning money online both ethically and effectively – with or without prior experience of owning a business. There are things to watch out for however.

I believe that you can generate income with just a laptop, and from almost anywhere in the world. I think that you can work with whom you want to, when and where you want – even if it’s from home in your slippers! The initial survival phase is where most people have the greatest excitement yet the least knowledge and success.

Everyone is aware that most businesses fail within the first two years and I believe it’s likely true of online businesses too. Perhaps there are even more business gurus for online business (and that’s saying something!) mainly because the consensus seems to be that working from home and building a business is easy.

Yoda from Star Wars standing in pose

If it were then we wouldn’t need these gurus, right?

A profitable online business – almost endless opportunities

With trillions spent on the internet ever year in the growing online marketplace, now is the time to look at its potential benefits to you.

So often by the time we hear about an opportunity the “early worm” has beaten us to it, but in this case the internet marketplace is growing faster than there are people joining to serve it.

Not only that, but the opportunities are becoming more diverse and profitable. They are also becoming easier to implement but as things become easier, there are more people selling these “easier ways”.

It’s probably true that now is a good time start an online presence and business – even if you want to start in order to provide a non-profit or educational opportunity.

A profitable online business – how much time?

If you want to pursue this as either a part-time or full-time business, this I believe represents one of the least risk, least investment and greatest opportunities available at this time, considerably more so than a traditional “bricks and mortar” business.

Business in general

A profitable online business – how much money?

So. if starting your new business online requires much less risk than investing your money in a traditional brick-and-mortar storefront , business or corporate office, why doesn’t everyone do it?

Let’s face it, while there’s no lease, no staff, and many less headaches, can this be true? Many of the people who appear to be making a lot of money do have staff or outsource work, either to people (both here and in third world nations or using automation. All come at a cost. Some people’s weekly spending is likely more than you’ve ever earned this year – but that’s not the important number – it’s what’s left.

It’s profit that counts in a business, not how much the business makes. You’ve also got to factor time in. Unlike money this is not a renewable resource. You need to be aware of this before you start any business.

A profitable online business – public reach?

If your business is based online, you can potentially reach more potential customers, work from virtually anywhere, and make money online without large overheads. and be open for business 24/7 without being present.

While you may not always be the best boss – at least you know who it is!

I started after a series of set-backs that saw all our savings lost and my financial future wrecked. I needed a way of increasing my financial security – the online business is still an idea that can require minimal financial investment and the freedom to concentrate your time on what you love. I needed a come-back after my set-backs – this can be one for you too.

A profitable online business – skills required?

typing on a laptop

With a degree of cynicism and plenty of due diligence you can easily find help along the way and sometimes it doesn’t come from where you expect it to.

The online community can be genuinely kind and helpful – it’s like people everywhere – nothing new.

With some basic website and online marketing skills, which you can learn along the way, with a little maintenance know-how. With a lot of work and some limited investment almost anyone can launch a business online and get it up and running. If you have technical skills you should be doing it anyway!

A profitable online business – why not?

Think you’re ready to become the next big entrepreneur online, why not?

You may not be the next Amazon but it could be a bit of fun. You could learn useful skills and even make some money!

Create a Lifestyle & Business you love.

In my opinion, almost everyone would benefit from some training and an understanding of how the internet works anyway – learning how to benefit from it follows almost automatically.

A profitable online business – could be fun?

Give it a thought. Just don’t leap into it – read, watch and digest before spending anything. It could just end up a fun hobby and sideline income stream.

Book with glasses on it - link to article
Get certified in the Fundamentals of Digital Marketing – FREE

Dr Stephen Bray 2019