You are confused in choosing online or offline business , you don’t know which business will be better for you .
Hello everyone and welcome to learn some business , today I am going to explain you the key differences and key points you need to know before starting or choosing the right kind of business for you between online or offline .
Online vs Offline Business
So , first of all offline business .
Offline Business is the traditional system of business . In offline business , all buying or selling takes place without using any online platform . In offline business you have to make or use real goods .
Offline business requires physical space , where people come and visit physically .
Pros. of offline business when compared to offline business –
- Results in offline business are faster .
- Offline sources are generally more trusted because they can be physically visited .
Cons. of offline business when compared to offline business –
- Expensive to start .
- If you are building product yourself , it will cost a lot to start factories .
- Less reach because your reach is limited to a region here only .
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Online Business –
Online Business is the new and growing form of business . In online business , all buying or selling takes place by using online platforms . In online business you can use virtual products .
Online business does not require any physical space and people from all around the globe can visit you virtually .
Pros. of Online Business over offline business –
- Cheap to start and execute .
- Have reach over a much larger group of people , as you can connect with any region through the internet .
- Anybody can create digital products easily .
Cons. of Online business over offline business –
- It takes time to earn from online business . It is not that instant like offline business .
- You need continuous learning to stay in online business as you are competing with world here .
- Highly competitive but with continuous learning things become easier.
Biggest benefit of online business over offline business is that in online business you can make money even when you are sleeping .
My suggestions regarding online vs offline business –
I am no doubt a lover of online business , but I will not go biased . I believe that everybody is different and online business is not for everyone .
So , factors that can help you decide whether to choose an online or offline business the following factors you need to consider –
Online business is for the person who can wait for long , who can learn along with working . If you want instant results and have enough money in your bank account then you can choose offline business .
My advice is that if you are just starting something , use online business to minimise risk and maximise learning .
If you already have an offline business , I have some suggestions for you that you can use to expand the reach of your business .
See , online business is all about reaching to a bigger group of people . Right ?
So , what if you combine your offline as well as online business ? The result will be much better because it will directly increase number of people knowing about your business .
For a simple example , let us consider you have a cloth store in Mumbai . It is working fine but nobody knows about it outside Mumbai . But what if you become an amazon seller as well as setup your own online store . After advertising little online and if you have amazing products you will see that now people from Delhi , Shimla , Chandigarh etc. are also visiting your online store or viewing your clothes in amazon . May be after somedays , you will start getting orders from these places .
But the catch here is that to get all this , your product should be amazing . It should be something new that world had never seen before .
If you don’t have enough money –
Also , another benefit of online business is that anybody can start it . It is cheap as well as free in some cases . You don’t need any degree or huge bank balance to start it . You just need a laptop and stable internet connection .
One another suggestion I have for offline business owners is that try advertising their services or goods in online media . I am just saying at least make a page or profile just to promote your business in online because everything is becoming online now . I am not saying that offline business system will end but online business will surely take over the most of business in planet . For small businesses , check this amazing post .