The Ups And Downs Of Running A Small Business Online

There are various factors that motivate people to leave formal employment and start a small business online. With just a product, a domain, and a responsive website, you can have the freedom and control that come with such a choice.

With a job, you have to work under a boss and meet deadlines, the failure of which you risk losing your employment. Therefore, online opportunities have become the perfect refuge for those who want to control what they do.

Here are some of the advantages of doing business online.

  • The Ups And Downs Of Running A Small Business OnlineYou determine when and where to work (hence the rise of digital nomads).
  • You choose what to do and the people to do it with.
  • Your earnings are unlimited based on how much work you accomplish.
  • You have the opportunity to expand beyond your imagination.
  • You can sell to customers from anywhere in the world without having to meet them.

However, although working online can look like a walk in the park, you need to be prepared for the harsh realities that come with it. There is a reason why some of these businesses start and shut down just as quickly; they do not know what to expect.

The following are some of the ups and downs of running a business online.

Adjusting to the working hours

If you are used to working during predetermined times such as 9am to 5pm, you should be prepared for the drastic change. The online business does not have any such schedules.

In fact, during the initial stages, you may find yourself having to wake up in the wee hours of the night just to fix something. Some customers will send inquiries and orders during these hours and you have no option but to respond to them.

You also might find yourself working longer hours than what you used to do in your job.

Separating family from business

Separating family from businessA majority of those who opt to start an online venture do it at home. Although your house may give you all the comfort and serenity that you need, it can also work to your disadvantage.

Your family, for example, can be a major distraction. There are those who have young kids that need to be attended to.

Imagine when you are trying to handle a complicated problem and your kids keep interrupting you. There is little that you can achieve in such a situation.

Additionally, you may find yourself spending a lot of hours on tasks that are not work-related. This will reduce your productivity and your earnings as well.

Multi-tasking when solving problems

An online business owner is probably performing all the management tasks. In a job, there may be a specific manager for everything. However, you now find yourself handling finances, customer relations, communications, marketing and everything else.

This may be hectic as long as you are not used to it. Although it might take some time to adjust, it will finally fall into place. The best part is that there are many online tools that you can use to perform these tasks.

For example, you can automate the payment system, set-up an emailing campaign that sends out mails automatically, and create alerts for your customers to announce anything new.

Managing money and freedom

Managing money and freedomAny business consultant will tell you that money and business go hand in hand. When you have the flexibility to do whatever you want, things can be a little complicated.

If you have just earned a huge payout from a previous marketing campaign, you should remain focused and disciplined.

There are those who cannot resist the temptation to take a break from their businesses for a while and enjoy their money.

After all, nobody will penalize them for that. However, as you take that break, your business will be on the downward trend. You will be baffled to find out that the customers have left before you come back.

At the end of the day, being prepared for the ups and downs of an online business is the only way you can be sure of success. Do not start an online venture blindly.

Right from setting up your responsive website to marketing your products, there should be a clear plan of how to overcome these challenges. It would be a big mistake to expect a smooth ride and instant success when you start selling online.

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