An ecommerce online shop has become the main driving force behind most businesses today, as more and more people prefer to shop online instead of going to physical stores. It is even safe to say that, online business have been dominating the global markets the previous years, and will continue to do so in 2020. Did you know that retail Ecommerce sales will reach 4.1 Trillion USD in 2020?
If you have every been thinking about starting your own online shop, here are the reasons why you should:
Increase Your Income
An online shop is completely different from a traditional brick and mortar store. With an ecommerce store, you can have your own site where you can sell your products to international clients all around the world. You don’t need to create several storefronts for various countries or places. When you have an online shop, you can earn extra money on the side even while enjoying a good night’s sleep, something that is impossible if you only run a physical store.
The key is to target products and services in niches markets where your previous experience, background or passion will be a main driver of your success. In today´s digital world, you are able to target both B2C and B2B markets.
Moreover, not having to be concerned with the substantial fixed costs and initial investment associated with physical stores, gives you the opportunity to start slow. You don´t need to earn a full income during the first weeks of operation.
Be Your Own Boss
Running your own online store lets you be in charge of the business course and strategic decisions. If you have been an employee all your life, you know that you cannot do this when working for someone else. As long as you got that fire and passion burning inside you, this is something worth the try. When you are an online store owner, you can enjoy the freedom as you become your own boss and work only for yourself, or with a team selected by you. Passion is the main factor that will convince you to start your own ecommerce online shop this 2020.
As an online store owner, you have a better control of your finances. Since you are working for yourself, it motivates you to put in more dedication and effort in everything you do. You have your work mode turned on all the time, and a mind focused on achieving results. You will also have more flexibility when it comes to how you work and when you work. Having an ecommerce online shop of your own creates a freedom that you would not find anywhere else.
However, it is important to not forget that the freedom of being in charge, comes with the responsibility of taking the right decisions. The importance of information, and getting good advice from the right sources is crucial here.
Low Startup Costs
Probably one of the primary reasons to start your ecommerce online store this year is the low cost involved. Until a couple of years ago, starting your own business means you need to look for and set up a warehouse, office, and retail spaces and deal with all specifications from electricity to plumbing, internet and phone connectivity.
All of these mean tons of expenses way before you can sell anything. On top of that, there are also the overhead costs you need to deal with. But, by running an online shop , your costs will be lower and you can get started in selling your products or services as soon as you can.
As mentioned earlier, the low startup costs make it worth experimenting the adventure of becoming an entrepreneur. Moreover, it gives you the opportunity to start slow. Do not wait until 2021, start building your potentially future successful business in 2020.