Online Business: I Love It!
If you’re reading this blog, you’re probably already open to the idea of starting an online business and perhaps even have a few projects on the go so you don’t need a lot of convincing. However, maybe you’re not that person and are reading Freedom Through Passive Income trying to decide if this online business thing is really worth the time and effort to get into it. I’m not going to lie. It does take a whole lot of effort to set up passive income streams, but the good news is that you do the hard work once and reap the benefits for weeks, months or even years down the road.
I think online business are an excellent idea for the following five reasons:
Online Business = Location Independent
Online business are location independent. You can work on your online business anywhere in the world as long as you have a laptop and Internet connection. For example, I got my start in the online business world when I was teaching English at a Korean university. Later, when I started to earn some money from self-publishing and building websites, I moved to Canada and decided to make it my full-time job. The plan is to hopefully avoid the 9-5 job for the rest of my life!
You Can Start Your Online Business While You Still Have a Day Job
You can begin building your business when you’re still working at a full-time job. A lot of people get up really early and put a few hours in in the morning, or at night when they get home from work. It’s the best way to get started because you can test out a few ideas without having to depend on your online business income to pay the bills. Then once you start to earn some real money, it makes sense to leave your full-time job and focus solely on your online business.
You Can Avoid Employment Problems
By having an online business, you can avoid any sort of employment problems including getting fired or laid off from work. The potential to make money online is limitless and all it really takes is some serious time and effort to get things up and running. You can create your own job for the rest of your life, as long as you’re willing to stay fluid and keep learning new skills.
Online Business = Freedom
Having an online business allows you a degree of freedom. Working online can be a really good fit for those who don’t want to live a traditional kind of life because your days can look however you want them to. You still have to get your work done, but you can organize your day, weeks or months in whatever way works for you. That said, you do have to carve out good chunks of time to do the work, especially at the beginning when you’re just getting started. I think of it as clawing and scratching my way up to the top of the mountain. Once at the top, I’ll coast down and not have to work so hard, but I’m not at that place yet.
The New Reality = Everything Online
The new reality of this world is that everything revolves around the Internet. I recently read an article which said that over half of small businesses in the USA don’t have a website. To me, that’s a huge mistake and it’s just like leaving money on the table. There is a dire need for those who are Internet savvy in terms of building self-hosted websites using WordPress as well as social media and content marketing.
By building your own online empire, you’ll be securing your own financial future but perhaps even more importantly, you’ll be learning these vital skills for the new economy. Should you ever want to do the 9-5, you’ll be able to compete for jobs, and better yet, you’ll have proof that you know what you’re doing. I’d certainly rather list my website traffic, self-published book sales and number of social media followers on a resume than I would some educational program I went through.
Getting Started with an Online Business
If you want to get started with an online business, here are a few things to help you out with that:
Resources for Online Business: I try to use mostly free services, but I do pay for a few things. I list them all here.
How to Self-Publish a Book on Amazon: Self-publishing on Amazon has been an excellent money-maker for me over the past year and it’s far easier than you might think!
Top 10 Passive Income Ideas: If you’re not sure what the options even are, check out this post for a brief overview of some of the most popular passive income streams that you can build. I’m sure you’ll find a bit of inspiration.