In today’s world, entrepreneurship has become an increasingly popular career choice. There are two main ways: traditional or online business. Which one is better? Let’s compare them!
This model of business is been chosen by many people for ages. Traditional businesses, as the name suggests, are offline businesses that operate in physical storefronts. These businesses require a significant initial investment in terms of rent, inventory, and hiring employees.
They also require a lot of face-to-face interaction with customers, which can be time-consuming.
One of the advantages of traditional businesses is that they are more established and have been around for a long time. This means that customers are more familiar with them, which can lead to higher levels of trust and loyalty. Also, the physical location can create a sense of stability and professionalism, which can help attract customers.
It is not a secret that only good, lucrative businesses will survive. To have one you need two important things:
- Money – that’s very obvious. You will NOT open your business without serious investments and sometimes you need a lot of money. That depends on what kind of stationary business you would like to have. If you want to open a restaurant, you’ll need to find a local to rent, buy all the necessary tools and obviously food. Probably you will not be able to work by your own, and that’s why you’ll need other people who will work for you. As you can see, in this case the costs are really high and the best solution is to borrow money from bank.
- Idea – good idea is even more important than money. A good, long-term plan is what you really need to eventually become a boss for yourself and others. That includes also costs you incur.
As you can see, you need to be well-prepared. Especially today. Have a look, we had a C19 pandemic and many businesses had to be closed! At the moment we have war in Ukraine, and because of that prices are going up, and that means your costs will go up as well.
Who knows, what will happen in the future? Many global events are effecting us and our businesses. I’m not telling you that stationary business doesn’t make sense. It does, but only if you have a really good business plan and you are financially prepared for a risk.
On the other hand, online businesses are businesses that operate strictly online or e-commerce. These businesses generally have lower start-up costs and fewer overheads, since no physical storefront is required. Also, online businesses have a much wider reach and can target customers from all over the world.
Furthermore, online businesses offer a high level of convenience and accessibility to customers. They can purchase goods and services from the comfort of their home, which saves them time and money. Online businesses also create opportunities for businesses to expand their customer base globally without having to worry about geographical limitations.
However, there are also disadvantages to online businesses. Competition is fierce because the barrier to entry is low. It can be difficult to stand out from the crowd in a crowded online marketplace.
Building Online Business
Online business tempts with the fact that it can be opened in an easy and quick way, and additionally it does not require high costs. But how to do that if you have no idea about the online business, how it works, and finally what tools you should use? There is few different ways, and one of the best one, and highly recommended is Wealthy Affiliate.
If you don’t know what is Wealthy Affiliate, you should definitely read my review by clicking here.
Every business is about selling something. You must know what do you want to sell? What is popular? What people like, and is it the same what you like? Do you have any passion, that you can share with others to make money? What if I’ll tell you that you can earn money by using your passion?
Yes! You can do that! Wealthy Affiliate is a great place, where you can learn everything step by step, get a support 24/7, and what’s the most important, get access to all the tools you need to grow your own online business!
Every serious and lucrative business should have its website, where you can provide all the information that people are looking for, sell your product, for example your own courses and tutorials, or sell others products! The last one is called Affiliate Marketing. Affiliate marketing is great, as you don’t need to buy anything to sell it. What you do is promote these products.
It’s very good idea to use social media to promote your website and business. YouTube is very popular platform in the whole world, where people can share their videos. If you’ll get a lot of visitors, then YouTube will pay you money, but you should definitely put your links in the video description and pinned comment.
You’ll get pay any time when someone clicks your link and takes an action! Facebook, Twitter, Pinterest and TikTok are also used by people to promote we their products and services. One of the best advantage of social media is fact that people can share your posts or videos with others. Thanks to that you’ll get more visitors. Traffic leads to money!
All of that and even much more you can learn on Wealthy Affiliate, so if you haven’t joined the platform, I recommend you do that as soon as possible.
Be careful! There is many of scam and fake offers, where they promise you mountains of money. You may lose your money. MLM or so called financial pyramid could be very dangerous and they are illegal in many countries like Poland for example. I’m going up to write another article to describe this scam and warn you about the danger of MLM.
Traditional, stationary or online business, both of them require some knowledge. Imagine that you are going to climb up to the top of Mount Everest without a training, ropes and food. What will happen? You will fail! The same for business, you will fail if you won’t learn how to manage your money, time, and what are today’s trends.
Check out the article Money Management.
You can find many interesting articles in the internet, where you can learn the basics about the business, management and more. That’s enough to start building your own brand and make some money. Also, mentioned above YouTube includes videos with lessons and experience of other people. That’s good for beginning.
However, if you want to build a really good and lucrative business, you need to buy some good books. Yes, I know. Spending money. But take it as an investment, which will bring you a profit in the future! Remember that someone had to spend a time and put a lot of work to write a good book, and you can use that knowledge to make money!
In conclusion, both traditional and online businesses have their advantages and disadvantages. While traditional businesses may have higher start-up costs and require a physical location, they offer customers a sense of stability and professionalism.
On the other hand, online businesses offer convenience and accessibility, with lower start-up costs and a wider reach. You need to be patient! Think long-term, otherwise you’ll give up and waste your idea. Online business brings first money after some time, sometimes even one or two years, but I could be much faster.
Everything depends on you, your idea and how many works you put in your business. Choosing online business you must be careful as there is a lot of scams. The thieves are just waiting for good occasion to steal your money! That’s why I recommend avoiding MLM and check every app or platform for example on Trust Pilot or some forum.
Remember that, to achieve the success, you need to have a knowledge, and it’s really worth to invest some money in good books, webinars, tutorials and make use of someone else experience.
Ultimately, whether you choose to start a traditional or online business depends on your unique circumstances and preferences. It is important to weigh the advantages and disadvantages carefully before making your decision.
I’m going to do my best to help you with that. If you have any questions, please let me know in the comment, or email me email@example.com. Alternatively you can find my Facebook page by typing My Money Force and send me message directly on Messenger.