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YOU WILL LEARN:
WHAT IS ONLINE BUSINESS AND IS IT WORTH IT?
Hey, now that you know how to create a great CV, let’s talk business.
Have you ever been interested in knowing how to start your own business? Let's see if it fits you.
With the internet's power, starting a business is easier than ever.
You have all the tools you need with the click of a button, and most of your clients are already connected and waiting to find you.
Whether you want to sell a service or a product there are numerous platforms that allow you to find your target audience with almost no overhead costs and are extremely easy to use.
Starting your own business can be a great way to supplement your income, doing something that you love and that might give you the freedom you are looking for.
In this Module, we are going to discuss this and much more, and in the end, you will be better informed to understand if you are a natural entrepreneur.
How to become an online entrepreneur
Someone that owns an online business is an online entrepreneur. Just like a typical entrepreneur, online entrepreneurs often take financial and other types of risks in order to launch their own company. Although there are some similarities between the typical entrepreneur and an online one, its biggest differentiator is that “a traditional business setup has a physical presence, and it serves people locally by providing services or products through brick-and-mortar stores. In case of a digital business setup, people sitting in any corner of the world can scroll through the web and avail the company's services and products.”
Most well known examples of traditional business and the ones that we are most likely to interact with on a daily basis are businesses like the manufacturing industry, responsible for creating products from raw materials that are then sold to the consumer in a B2C (business to consumer) model or B2B (business to business) model. One example of this is the Automobile manufacturers that represent a B2C model, selling cars directly to consumers, and wholesalers that practice a B2B model, acting like a middle man.
Continuing in the ladder we have distributors that buy products directly from the manufacturer and afterwards sell the products to consumers or retailers.
Finally we have retailers that after purchasing their products from the wholesaler/distributor, sell their goods in physical stores, so called brick and mortar.
Being a modern form of business, online business take advantage of technology to provide the customer with a desired service, while eliminating many of the traditional costs of having to rent a space, remodeling and hiring personnel to interact with customers and deal with store related situations.
This being said, online businesses sell exclusively through the web, which gives them a lot of advantages when first starting out.There are also hybrid models that use both the traditional way of business associated with modern day innovations. Companies like Apple spend millions of dollars on local retail shops where they sell their products while also having a huge online presence where customers can purchase their products online.
As you can see, being an online entrepreneur even though you exclusively work in the online world, it has nothing to do with being a worker employed by a company remotely.
It’s true that they can have some similarities, you both take advantage of online tools in order to work but in their essence they are totally different.
Creating and managing a business takes a lot of risk, research and effort. It’s not like working for someone, with a schedule that you might have to obey, and tasks you have to deliver and a steady paycheck at the end of the month.
USEFULL STATISTICS REGARDING ONLINE ENTREPRENEURSHIP WORLDWIDE
SEARCHES PER SECOND
SOCIAL MEDIA USERS
USEFULL STATISTICS REGARDING BUSINESS
of small business owners feel that their business is too small for a website
of people will search online for reviews and recommendations before making a purchase
The top five things that influence buying decisions are: lowest price, enhanced delivery options, easy return policy, payment options, ability to see inventory
of Millennials will head to Amazon before any other website, making them one of your biggest competitors right off the bat.
of people believe they’ll get a better deal online, even if the item isn’t technically on sale.
Content Marketing and Blogging – Stats and Facts
MOST USED LANGUAGES ON WORDPRESS
Video Marketing – Facts and Statistics
of people viewed an online video While online searching for local products or services
of Facebook video content is viewed without sound.
as many people would rather watch a video about a product than read about it.
People tend to stay on webpages 2.6x longer if there’s video content.