Why Now Is the Right Time to Own an Online Business
If you've ever wanted to run your own online business, this is a great time to do so.
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IABC Africa Media
The Media Department of IABC Africa
2nd October, 2019
3 mins read
Opinions expressed by IABC contributors are their own.

This article is generated from a pool of online resources and hence do not refer to the opinions of IABC Africa or its Management.

Many a time "you've considered running a business but keep wondering whether conditions are right to support your winning idea or perhaps you have been dabbling with something on the side and can't yet convince yourself that it's the right time to take the leap from safety, says Eric Sherma of Inc Magazine. There is no perfect moment however, if you keep delaying, you may end up putting it off forever.

If you have ever been contemplating the possibility of starting your own online business online? Now is a great time to stop thinking about it and start taking action. Throughout history, it has probably never been easier to start your own business online. With the development and growth of social media everyone is connected together regardless of their income status or geography.

Here are five reasons why you should start your online business now:

  1. Growing Internet Audience

"The overwhelming ubiquity of the Internet has opened worldwide markets for companies of all sizes. A one-person operation with a website and a presence on social media can reach consumers across the world as easily as the neighbors down the street. People in all countries are exposed to the same news and cultural phenomena, so a popular product or service can easily go viral across borders. Traditional distribution channels are under pressure to expand and eliminate barriers of cost or exclusivity that once existed. In short, an entrepreneur today can sell anything to anybody any place on the globe", says Michael Lewis, a retired corporate executive and entrepreneur.

Study shows that every day around 1 million people are getting internet access for the first time in their lives. This roughly translates into 11 new internet users every second. So just going by the numbers, the size of your target audience is growing at an insane rate. Billions of new people are going to join the internet in the next few years. Most of these people will become online consumers, shoppers, and searchers.

2. Access to a worldwide market

Thomas Smale said that, "The beautiful thing about an online business is the ability to run it 24/7 without boundaries. There are no geographical boundaries and there are no specific hours of operation -- an online business can produce revenue around the clock, even while you sleep.

With a well thought-out social media plan, search-engine optimization and paid media strategies, an online business can thrive. You have access to the entire world right at your fingertips. The luxury of being able to target specific states, regions and countries gives an upper hand to online-based businesses."

3. You have the freedom of choosing your location

According to From Dream to Lifestyle, "In an online business you aren’t tied down to a desk or a single location.

As long as you have an internet connection and a laptop you can run your business from anywhere in the world.

You have the freedom to travel and choose where you want to work on any given day and that’s extremely liberating.

Whether you want to visit your family in another state or take a trip somewhere exotic your business will always be with you."

4. There are numerous ways to earn money and diversify your income

"With rapidly increasing internet and smartphone access around the globe, there are numerous ways you can make money online.

For example, you can offer skills like software development, graphic design, content writing or virtual assistant services as a freelancer.

Or if you currently sell products locally, you can exponentially grow your business with an eCommerce website and reach millions of customers around the globe.

If you can’t manufacture your own products, you can start an eCommerce dropshipping business and potentially make millions of dollars with literally no upfront investment. This infographic explains the dropshipping business model", said Jawad Khan,  a freelance writer, professional blogger and marketing consultant.

5. It No Longer Requires Tech Skills To Launch An Online Business

According to Mike Cooch, CEO of LVRG, "There are a handful of things you need to be able to do to get a business up and running online:

  1. Build a ‘home’ for your business – typically a website
  2. Reach and communicate with your prospects and customers
  3. Process sales transactions

All of that used to be really expensive and complicated.

Now, none of it is.

Website builders and hosts, all-in-one CRM and Marketing Automation platforms, and ecomm

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