15 Signs You Have an Entrepreneurial Mindset

Entrepreneurial Mindset


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Have you ever asked yourself, ‘Is an online business a good investment?’ Or even better, ‘Should I start an online business?’ If you answered yes to either question, and if you’re actually looking for some solid reasons as to why you should build an online business for yourself, then this article is for you.

In this post we’re going to make the case, as to why starting an online business is actually one of the best investments you can make for yourself, especially in this day and age. So, if you’re ready to dive into some really good reasons as to why you should consider investing in your own online business, then let’s dive right in.

10 Reasons Building an Online Business Is One of The Best Investments You Can Make

1. Unlimited Freedom

An online business is attractive because of the freedom it offers.  With technology becoming more and more mobile friendly, online business owners can free themselves up to work from wherever they want.

Walk into any coffee shop these days and you’ll see plenty of people grinding on their start-ups while consuming their cups of joe.  It’s a great feeling too, knowing you can virtually work from anywhere in the world, at your leisure, and still make money regardless of your location.

The best part though, is that when it’s your business, you can’t get fired. And when you can’t get fired, that’s when you truly have freedom.

Freedom, it’s all about freedom.

2. You Can Start Part-Time

Building an online business takes time and effort, but the great thing is, you can get started part-time.  You don’t have to risk your livelihood to test out those great ideas that have been keeping you up at night.

You can launch your online business on a weekend, and work on it in your free-time.  You can build your online empire and start cash flowing while still earning money from your day job.

Then, when your business starts to gain traction, and the big money starts rolling in, you can decide if working your 9-5 is what you really want to do with your life.

But you get to choose.  When you build your online business part-time, you can get started on creating your own freedom, giving yourself options.

Options, options, options, it’s all about options!

3. Low Overhead and High Margins

If you have a good chunk of money set aside, you can get started with your own money.  You could invest as much as you want too.

But, there is also the risk of losing money, a lot of money.  Especially if you don’t know what you are doing.

When you invest in an online business, there is a small investment.  But, these days, it doesn’t cost much at all to get started.  Were’ talking a few dollars a month of overhead costs.  And a really big perk, is that an online business can be operated without office space, retail space, or even storage space for inventory (drop-shipping).   The main thing you risk is your time and effort.

And time and effort are things we all have.  So, with a small investment to get you started, and enough time and effort spent on building your online business, you can reap massive financial gains.

4. Provides Unbelievable Scalability

Online businesses are attractive because they are scalable.  Brick and mortar businesses are scalable too, but they are dependent on location, making them much more difficult to scale.

When we say scalable, we mean a businesses ability to quickly change its size or income.

Every brick and mortar business depends on a limited number of customers that live within a certain proximity to that businesses physical location.  This means a brick and mortar business is limited by the number of customers living within a given range from it’s physical location.

An online business on the other hand, can sell to anybody anywhere.  An online business’s reach is limited only by the extent of their marketing campaign.

This means an online business can scale to incorporate as many people as it wants, all over the world.

5. Income Security

This is one of our favorite reasons.  When you build your own successful online business, you are in control of your income.   You get to decide how much money you want to make, and you can’t get fired.

Obviously, you can’t snap your fingers and demand a 500% pay raise.  But, you can change up your business operations to reach your unique goals.  On top of that, you keep making money as long as you are in business.

If your only income source is from your day job, then you put yourself at risk financially.  But when you have additional income coming in from your online business, you can hedge against the insecurities of the job market.

Build an online business and you build your very own financial fortress.

6. You Can Automate It and Semi-Retire

Everyone dreams of retiring or semi-retiring early.  But in reality, most never come close to having enough money to retire and live off of their retirement savings by the time they reach retirement age.

When you build your own online business, if you are smart about it, you can eventually automate it.  Once your business is automated, it can become your very own low-maintenance virtual ATM.

Of course, this is a lot more plausible for the majority of people, than putting aside $1,000,000 dollars by the time they retire.

By the way, if you are lucky enough to save up a million bucks, and you follow the 4% rule, (which is a retirement rule to follow so you don’t run out of money before you die), that million will only get you a lifestyle that $40,000 per year can afford. 

Of course $40,000 per year is not too shabby, but, traveling the world and trying to “live up” your retirement years on this amount of money is going to be, well…challenging.

Check this out.  The median retirement savings of families between 56 and 61 is only $17,000.  So, there is a good chance you need to start socking away tons of money…like now, or…start grinding on your new online business.

The choice seems obvious to us, but hey, it’s your future.

7. You Can Do Something Fulfilling

Starting your own online business is something everyone should do, because really, everyone has their own secret calling they wish to be living.

When you start your own online business, you get to stop putting off those projects that really bring you to life.

On top of this, when your business starts gaining traction, you give yourself the opportunity to dive into a career that truly fulfills you.  You can get paid to play.

Imagine that, every single day is play.  Sounds fun!

8. You Take Back Control of Your Destiny

When you build your own online business, you get to participate in the creation of your own future.  You gain complete control of your destiny.

Sure, your business may face it’s challenges, but obstacles are as permanent as you want them to be.  If you fall, you can always get back up.  If at first is doesn’t succeed, you change tactics and try again.

But, your business can also succeed, especially if you never give up.   Truth is, if you are seeking to create a lifestyle business, your chances of succeeding are much higher.

Online lifestyle businesses are created to cater to the owner’s specific lifestyle.  Some owners are happy making just enough money to pay the bills, buy a few tacos, and travel across the world, while others want to build huge online gold mines.

Your success is all up to you.  The effort you put in will be rewarded.  No, it won’t be instant.  Business and instant gratification don’t belong together, unless of course, you are creating a business that offers instant gratification. (Usually a good approach for most businesses).

So long as you put in the time and effort to learn the rules of the game, and then execute around those lessons consistently, mark our words, you will win.

When you invest in your own business, you give yourself a shot at becoming the captain of your own ship.  And when your the captain, you get to decide on the destination.

9. You’ll Become More Valuable

When you start your own internet business, you’ll learn all kinds of new skills.  You’ll learn about marketing, internet technology, sales, writing, sales copy, graphic design, conversion rates, analytics, etc…  You’ll learn loads about the business world.

In fact, the more you want your online venture to succeed, the more you’ll end up learning.

You’ll look at things through a different lens.  You’ll gain insights into consumer psychology and business that you didn’t have before.   Overtime, you’ll become more and more valuable, both to you and your internet business and to whom ever employs you.

No doubt, your business may take a while to take off, but in the meantime, so long as you don’t quit, you’ll become more and more valuable to the market place.

Like the saying goes, “The more you learn, the more you earn.”

10. Your Online Business Never Sleeps

Most brick and mortar businesses can only stay open for a limited time. They need to close-up-shop at the end of the day because their regional customers eventually have to go home and catch some zzz’s. With no customers around to buy their products or services, most business need to shut it down at the end of each day to avoid wasteful operating costs.

With an online business though, that’s not the case.

Your online business can stay open to sell your products or services 24/7/365.

Why?  Because an online business can easily take orders from any customer, anywhere, at any time of the day.   While you sleep, people on the other side of the world are awake and hunting online for your solutions to their problems.

This means you can make money while you sleep.  Imagine waking up to see 5, 15, or 20 sales your internet business made, all while you were cozied up in your bed counting sheep.

So, Is An Online Business a Good Investment?

So, is an online business a good investment? Yes, it is a good investment. In fact, we believe it is the best investment.

It truly is the best investment, because it has the potential to yield back to us way more than we put in, and much more readily that which is prized most by society; our time.

So, if you want to increase your chances of making more money, if you want to build something that may eventually lead you to being able to spend your days doing what you love, all while creating something that which will allow you to make your own money on your own terms, then starting your own internet-based business is a good way to go.

Of course you’ll face some challenge as you build your online business up, and it may even take longer then you think it will take. But, we believe, without a doubt, that building your own online business pays the best dividends.

But, it all starts with laying that first brick!

Till next time,

STRIVE



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