Lunes, Disyembre 24, 2012

Benefits of Going Small in Business

Managing Small Online Businesses has its Advantages
One of the many reasons why individuals hesitate to venture into online business is fear.  They fear that they will not be able to accomplish anything because they will be working on their business alone. They fear that it is not possible to compete with bigger and more established organization.

It is true that working in an online business alone has its disadvantages.  Some of these disadvantages are the lack of financial and other valuable resources needed to run a business.

But, running your online business on your own does not mean that you will not get things done. 

Below are some of the advantages of managing an online business on your own:

1. The overhead cost of managing your business is smaller.  A typical corporation pays for office rent, utilities, wages of its employees and other expenditures. On the other hand, managing the online business on your own means you can run your business at your house.  You also do not have to be concerned about paying for rent, utilities, phone bills and payroll.  Having lesser overhead cost means you can afford to lower your rates to attract more clients for your business.

2.  The decision making is faster.  As the sole owner, you make the important decisions for your own business. You do not have to seek approval from a supervisor, manager or the members of the board.  Faster decision making means you can implement immediate changes on your website/blog or post new content without the bureaucracy and hassle.

3. More motivated and determined to succeed. An employee who works for a company does not have the same level of commitment, determination and motivation to work.  When you manage your online business, you are willing to go to extra lengths to make your business successful.

4. Work hours are more flexible.  When you work for your own online business you are more flexible with respect to the work hours.  In fact, you can choose your own work hours so long as you meet your client’s deadlines.  You do not have to worry about being late for work or pleasing your supervisor or manager.

5. Small steps in meeting goals. Small online businesses have lesser expectations of their business. They are also more accepting of gradual developments in their marketing strategy compared to bigger businesses which set higher targets and goals.

Small is Cool
Working on your own online business does have its advantages.  It is up to you to take advantage of these benefits and find a way to minimize the disadvantages of being small.  Be proud and overcome the barriers!

What is Your Take?
Are you also a small online business owner? Do you manage your online business on your own? What are its benefits?

Share your tips and experiences in the comments below.


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