Business is simple. Someone has a need and you will fill that need. Someone wants to buy something that you sell it. Today we are going to compare Online Business vs. Offline Business!
If we go back in time 30 years (or 20 years), there wasn’t such an opportunity like the online business. The business happened mainly in the physical world.
But the Internet has brought a lot of new possibilities.
What are the similarities and the differences between Online Business vs. Offline Business? Which one would be a better choice for you?
Let’s find out together!
Similarities – No Shortcuts
Some people think that online business is something like, ”Click, click, click, push enter and $10,000 will come to your bank account every month.”
The reality is that such “formula” just doesn’t work. Probably some people have such kind of image about online business because there are so many scams out there (Check 5 Incredible Tips to Avoid Online Scams).
In online and offline business you will need to work, work and work. There is no shortcut to success. You will need to get customers and (if you don’t luckily already have 10 million followers in social media) it will take some time to attract the customers. Then it’s really possible to make $10,000/month as these 5 guys.
You will need to do marketing and you need to have a good product to sell. One option also has to have a business by selling other people’s products.
In business, it’s always vital to think how to improve your service regardless your business happens in the offline and online world. At some point, you just need to start and take a leap of faith.
Differences – The Limits and the Freedom
Offline business happens in a physical world and online business happens on the internet. It means that both of them have certain advantages and disadvantages. The Internet makes a lot of things easier than in the physical world.
Still for example Massage, manicure or pedicure will hardly happen in the online world. But it doesn’t mean the internet would be useless in that kind of businesses. The proper use of the online world can dramatically boost any those offline businesses.
Or let’s imagine that you own the kindergarten. You can’t move it magically from the United States to Canada in one day. If you have the responsibilities there and you need to work in the kindergarten you can’t take a one-month trip to Asia.
On the other hand, if you have an online business promoting or selling children’s clothes you can do it in the United States, Canada, Asia, Africa or literally anywhere where you can find the Internet connection.
In the other words
Online business makes constant traveling anywhere you want possible.
But of course, it depends on a little bit what kind of online business you are doing. If you need a warehouse for your products it’s hard to take a whole warehouse with if you are traveling around.
But for example, affiliate marketing can be done without any kind of warehouse. Everything you need is the laptop and the Internet connection.
Risks – Financial Risks are Minimal in the Online Business!
Do you know how many times people fail on average before they quit? The average is less than one. Because most of the people don’t even start.
Probably those people are afraid of the risks. When we are talking about the business there is always some kind of risks.
But most of the time the financial risks are way smaller in the online world.
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Most of the online businesses can be started with about $100 of money (or you can start for free in Wealthy Affiliate) but many times in the physical world you need to rent an office and buy a lot of stuff before the business hasn’t even started.
In the online business, you can start for free. Get a free domain and start affiliate marketing. The only risk is the loss of time. But the loss of time sounds very much smaller risk than using $3,000/month for the rent and the employee in your beauty salon.
Conclusion
There are advantages in both, online and offline business. But being online releases usually much higher potential with the lower risk.
Listen what the richest man in the world said,
”If your business is not on the Internet, then your business will be out of business.” –Bill gates
Even if you would have an offline business, basic online skills can highly boost your profit.
I prefer the online business because of its flexibility, low risks, and huge potential.
Are you interested in creating an online business? My #1 recommendation to start is Wealthy Affiliate which is an online training center and community that teaches you hand by hand how to start and run an online business. I will also provide my 1-on-1 mentoring in Wealthy Affiliate for free.
==> Start your online business today!
If you have any questions or comments related to Online business vs Offline business, please leave them below.
They are both extremely difficult and quite risky especially if you put a lot of investment into it. But personally, I prefer online businesses to offline businesses. The costs are much lower because you don’t have to worry too much about overheads (unless you decide to get an office for your online business). Online shopping is also becoming a lot more popular which gives a lot more potential to online businesses right now as well which is a huge advantage over offline businesses.
That’s true. Risks are so small with the online business compared to most brick-and-mortar businesses. You can start an online business with less than $100 or even for free and there’s a potential to make very big money.
I think the two are slowly coming together, or at least becoming inextricably linked. Learning good online skills is fast becoming a fundamental of more and more offline businesses.
Its funny how you have to put in the work, but we all can learn smarter, and its nice to stay up to date with the latest stuff…:)
I agree Westy that two are coming together more and more. Most of the offline businesses also need to use the Internet today. Many of the people can’t get everything out of it but those who have the online skills have the advantage in the business nowadays.
I’m extremely thankful that an online businesses have flourished over the years. It is very challenging to have an offline business take off from the time of its inception, especially the amount of risk involved – there is just so much more capital involved in an offline business.
I think the nicest thing about online businesses is that, site fees aside, it’s really all about sweat equity – the potential revenue that you can receive is relative to the amount of effort you put into it.
Both business types are profitable, however – for as long as you put the time and effort (plus continuous improvement), your business will surely succeed.
Thank you for the comment Raphy!
I agree with, “the sweat equity”. If you do enough effort in the online business it will be very profitable. Nowadays starting an online business is easier than in the past because we have this wonderful training in Wealthy Affiliate.
The funniest part in the online business is when the things become automatic. Visitors come to the website, social media and email marketing are automated and so on. In the beginning it requires a lot of studying and work but little by little, every step, it becomes easier and easier.
I wish you success Raphy!