Pros and Cons for the Beginner
Online retail is becoming a booming business that commences too many economic business struggles. There are different types of economic Business models and online stores that becoming complicated and fast sources of business. It is often considered that running an online store is a complicated and complex process because it requires are a huge fan of services before launching any product line brand (Smallbiztrends. com, 2018). The E-Commerce Business models are different for typical online stores that rely on sales of products. An online business starts with personal and Niche efforts and provides the highest profit gain because of sales of the products in the affiliated market increases. During 2019 countless online business ideas turn into reality. A number of people quit their jobs and started generating money from the internet (Wakeling, 2019). The online business provides a comfortable lifestyle to family and the owner of the business, more time to take rest and relax, and to achieve financial freedom. Basically, the business owners spend some time considering the idea and consequences of an innovative concept in business and ultimately resort the business back to the comfort zone (Milesbeckler. com, 2018). The steady income through online business secure job and provides opportunities to take advantage. There is a wide range of options for an online business, for instance, one can start blogging, set up an e-commerce site, self-publish a book on Amazon, become a YouTuber, launch a new app and becoming an SEO master. There is a wide range of advantages of setting up an online business but in certain circumstances, the consequences are also there (Corrigan, 2019). The aim of present work is to analyses new and creative business ideas of 2019, how these business ideas were started and flourished with the passage of time, advantages of online business, and disadvantages of online business. The present study provides a complete overview of Complex business ideas and how it can be implemented. The detailed analysis of advantages and disadvantages is included to conclude the study (Cornell, 2016).
Types of Online Business in 2019 for beginners
There are tons of online business ideas for beginners. The beginners should select such a business idea which they think can pull off easily and have the potential to generate a significant amount of profit. Before starting the online business it would be great if the market research is performed to identify the latest trends and what the customers are looking for. Through this, the person who wants to start an online business will have the opportunity to make it successful. Any individual who wants to start an online business can choose from the following online business ideas:
The individuals who want to start an online business in 2019 can provide web designing services online to various customers. There are many businesses who want their own website and for that, they need the help of an expert web designer who can design their website which does not only look professional but also have the potential to generate a significant amount of web traffic. Therefore there is a huge potential that the online web designing business can generate a significant amount of profit. To various customers, the induvial can provide customized services according to the needs & preferences of the client. In simple words, web designing service as an online business would be a great idea.
Starting an online business in 2019 SEO services might be a good idea because today many businesses want their website on the top when the people search on the search engine. There is a huge trend of SEO service online and for beginners choosing SEO as an online business would be a rational decision. The major advantage of providing online SEO services is that the cost of the whole business will be reduced because there will be no need to set up a whole office to provide the services. In order to attract clients, the individual can provide their services at competitive prices.
The online stores are among the most common type of online business. There are many companies that have adopted this business model for providing their products & services to the people. The example of online Stores includes Amazon and eBay etc. There are many customers today who wants to purchase goods online because it was more convenient than to purchase the goods from the market. The payment methods such as cash on delivery have also increased the confidence of the customers. With the passage of time, the online retailing is increasing day by day and more customers are moving toward online shopping. So by keeping the growing trend o0g online retaining in mind, it can be said that online shopping website would be a great idea as an online business in 2019 for beginners.
Today the technology is becoming advance day by day it means that new technology is coming rapidly in the market like never before. For performing various business activities today there is software that helps the employees in the business to perform the task efficiently. So by keeping the rising demand for software in mind, the individuals who want to start an online business in 2019 can provide software to various organizations or businesses. The individuals will have the opportunity to realize the needs of 7 preferences of the businesses and then create the software that will help them to achieve their goal.
Online Financial consultancy services
Many organizations today want to manage their financial activities more efficiently. The organizations always concern about their expenses & profits because it has a huge impact on their decision-making process. Many businesses have also outsourced their financial management activities to those organizations who can manage the financial activities far better than themselves. Therefore the beginners can start an online business of providing financial consultancy to the businesses. They can tell the business regarding the rules & regulations of financial management and how they can better manage their financials. In other words, the financial consultancy business has the potential to generate a significant amount of profit. The beginners should create a website that is not only is friendly but also look professional.
Without advertisement, a business cannot achieve success because the business will be unable to attract the customers toward its product. So it can be assumed that the demand for advertisement is always high and all businesses are looking for a way to create a greater market penetration. Those wanting to start a digital business can choose advertising services online because there is a huge potential for business growth. Focus on becoming an expert in an area you’re interested in and can have the biggest impact, then practice your wares to really head for significant impact in the market.
Social Media Marketing Services
After the rise of social media websites, many businesses have selected social media sites for marketing purposes. Different businesses advertise their product & services on social media because not only the social media is a less expensive way of marketing the goods but also through social media sites the business can reach a huge amount of customers which is not possible through another medium of advertisements. So by providing social media marketing services online, the business has the opportunity to achieve its primary goal that is to earn a profit.
Blogging is another way through which the individuals can start up an online business in 2019. The bloggers usually provide a variety of information to different people. Here bloggers can create a partnership with different businesses online and can provide information about their products & services in the blog. Through this, bloggers can generate a significant amount of earning. By writing a blog in an interesting way and using such terms that attract the customers toward certain products can help the blogger to achieve success in the market. Therefore blogging can be said a good approach for earning money.
For most people, affiliate marketing is how they get started.
The idea behind it is that you promote other people’s products, often through an affiliate network, earning a commission if people actually end up buying thanks to your marketing.
It’s based on revenue sharing. If you have a product and want to sell more, you can offer promoters a financial incentive through an affiliate program. If you have no product and want to make money, then you can promote a product that you feel has value and earn an income from it as an affiliate marketer.
Advantages of Online Businesses
Online businesses are gaining popularity as the technology is becoming more advanced day by day. Today the customers do not have much time to go to a certain place to get their products and services. It not only takes time but also causes inconvenience to a lot of people. The online business allows people to get their product on their doorstep without any major problem or time consumption. The following are some of the key advantages of online business in 2019 for beginners:
Easy Adaptability to trends
One of the major advantages of online business is that it can adapt to market trends more easily than the business that follows the brick & mortar model. Online businesses do not have to make major changes in offices or have to change their whole setup to adapt to the latest trend. Therefore it can be said that the online business is more adaptable to change than traditional businesses. It means that the opportunities which the online businesses have are endless. There is a need to realize the opportunities which exist in the market to take advantage of them.
The online businesses do not have to experience certain costs which the traditional businesses experience. Many online stores that provide services online do not have physical stores. It means that the costs related to physical stores will be saved. The cost which the online businesses save allows the business to provide the products to the customers at affordable prices. It means that through this not only the business has the opportunity to increase its revenue but also the business can create goodwill which will help the business to grow in the future.
Availability of Huge amount of data
The data regarding the customers who shop online are available in abundance. It means that the individuals who want to run an online business can get information about various types of customers easily. Through analyzing the needs & preferences of the customers the business can provide better customer services to its customers. Moreover, the needs & preferences of customers will be fulfilled more efficiently. In traditional business models gathering data of the customer is a bit hard than the online businesses. Online businesses have data regarding their customers & what they preferring in recent years.
Online businesses can provide customized services to their customers more efficiently than traditional businesses. For instance, a person went to the store to purchase a certain product. Upon reaching the store the customer realizes that the product which it wants to purchase is not available due to out of stock. However, this will not be the case when an individual purchases a product online because the individual knows that the product which he/she has ordered will be going to be delivered to them. Although it takes some time to deliver the product to the customer the product is according to the order of the customer.
Convenience for Customers
The online shopping website or other services providers provide convenience to their customers. For instance, the online retail websites provide ordered products of their customers directly on their doorsteps. It means that the individuals will not have to go to certain shops to purchase the goods. Not only the time of the customers have been saved also the product is delivered on time which increases the overall customer satisfaction. The problems or inconvenience which the customers face during traditional shopping approaches can be mitigated through online businesses, therefore, the convenience of the customers is among the major advantages of online businesses.
The main aim of every business is to increase the satisfaction of its customers. The businesses today highly focuses on customer satisfaction because they know that if the customer’s preferences are going to be fulfilled then the business will have the chance to generate a significant amount of revenue. The online websites usually provide products or services at low prices through which the customers can take more benefit than the traditional shopping approach. Moreover, online businesses provide special discounts on different occasions which further increase the overall benefit of the product & service.
Global Access to business
The businesses that are online can access their business from anywhere around the world. The online business owners do not have to go to a physical location especially to operate their business. Many business operations can be handled online which means the owner of the business and its team can run the business online efficiently from anywhere. Through this, the business operations never stop and the business does not have to stop its operations due to any natural disaster or other catastrophic events. In short, it is another advantage that the online businesses avail.
Less operational Complexities
The operational complexities of the traditional business approaches are way complex than the online business. In online business, many business activities reduce because the online business owners have the option to not create a physical office for providing the services or product. Most of the activities of online businesses are carried online and this saves a lot of costs. The online websites usually provide products or services at low prices through which the customers can take more benefit than the traditional shopping approach. Moreover, online businesses provide special discounts on different occasions which further increase the overall benefit of the product & service.
Disadvantages of Online Businesses
Online service providers and online businesses have a virtual team that works together with the business model. On their own line the business can be improved by digital marketing, social media help, marketing services and graphic designing (Smallbiztrends. com, 2018). The job of freelancers and online businesses required the less coaching analysis of the market and it can produce a quality product for the client in respective times. Besides advantages, there are some disadvantages of online businesses particularly effective communication is not provided in the digital marketing system (Cornell, 2016). Online business operations are not all smooth sailing. It is a fact that 90% of the online business fails in the first 120 days it is a distinct disadvantage of online business. The chances of Survival can be increased by knowing all about addressing and mitigation of the challenges (Cornell, 2016). Some of the issues and disadvantages of online business are listed below
Lack of credibility
The brick and mortar companies easily develop the trust level of the customers about the product and services. The main advantages are that such kinds of fumes and organizations can invest money on the setup of stores and build the infrastructure (Milesbeckler. com, 2018). Since the barrier is low, in the case of brick and mortar companies, therefore they can invest and achieve a higher level of credibility from the customers. Many online businesses face challenges especially small business at the building level. Lack of credibility is the disadvantage of online business (Wakeling, 2019).
Customer service challenges
The sometimes online business successfully gained a high reputation for excellent services. For instance, Zappos face challenges due to the lack of face to face interaction with their customers. Sometimes customers prefer to visit the shop and speak with the service provider and to get a personal appointment with the service providers (Wakeling, 2019). Online business does not have such type of capability and resources of face to face meeting with the customer and service provider. The only sources of conversation between the customers and service providers are telephone lines, chats support, and resorting email (Smallbiztrends. com, 2018).
Market saturation and situation
The online company faces the highest number of challenges and competitors across the world. An offline business faces lower challenges on a regional basis while online business faces pressure challenges across the world (Smallbiztrends. com, 2018). The level of saturation in different areas makes it difficult to win the Marketplace penetration. In the case of offline and physical stores, the simple business schedule is followed by the service providers and customers know about their working or and service providing time (Wakeling, 2019). While on the other hand, the online businesses on the internet operate for 24 by 7 hours. It means that online business remains open all the time that could lead to distractions and drop the productivity of the business (Corrigan, 2019).
Most of the online business provides instituted web chatting feature to answer the questions of customers. Mostly the customer services are provided by email and phone. This process can be effective for customer inquiries and to accomplish complete knowledge about the items in front of customers, but it does not provide face to face communication (Milesbeckler. com, 2018). The physical stores provide business with the client details and dealing with the clients according to their requirements. It can be demonstrated that the product of offline storage works more as compared to all online stores. It is easy to troubleshoot the issues of product and explain their actions (Smallbiztrends. com, 2018). The physical presence of staff members can impress the purchaser and it’s from to share higher positive experiences with the other customers. Sometimes purchases simply preferred direct conversation before purchasing any goods this feature is not provided by online service providers. Most often customers have to struggle for developing a meaningful relationship between the purchaser and the online business (Corrigan, 2019).
In the case of low internet connectivity, customers can lose a lot of time and money. Sometimes the website goes down and it requires a lot of time to come with the original functions and operations. The issues with the Internet and web site can cause potential disadvantages and customers avoid purchasing goods from online services (Corrigan, 2019).
It is concluded that one of the major advantages of online business is that it can adapt to market trends more easily than the business that follows brick & mortar model. Online businesses do not have to make major changes in offices or have to change their whole setup to adapt to the latest trend. Therefore it can be said that the online business is more adaptable to change than traditional businesses. There are tons of online business ideas for beginners. The beginners should select such a business idea which they think can pull off easily and have the potential to generate a significant amount of profit. Before starting the online business it would be great if the market research is performed to identify the latest trends and what the customers are looking for.
Cornell, S. (2016). The Disadvantages of Online Businesses. Retrieved from itstillworks.com: https://itstillworks.com/disadvantages-online-businesses-1644.html
Corrigan, K. (2019, 04 10). The Ultimate List of The Most Popular Online Business Ideas. Retrieved from www.oberlo.com: https://www.oberlo.com/blog/online-business-ideas
Milesbeckler. com. (2018, 11 28). Top 10 Online Business Ideas To Start In 2019 For Beginners. Retrieved from www.milesbeckler.com: https://www.milesbeckler.com/top-10-online-business-to-start-2019/
Smallbiztrends. com. (2018, 12 28). Fascinating Pros and Cons to an Online Business You MUST Know for Success. Retrieved from /smallbiztrends.com: https://smallbiztrends.com/2018/07/ecommerce-advantages-and-disadvantages.html
Wakeling, B. (2019, 01 25). Advantages & Disadvantages of Online Businesses. Retrieved from bizfluent.com: https://bizfluent.com/info-8232765-advantages-disadvantages-online-businesses.html
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