Advantages of Online Business

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Welcome back to the podcast! I am recording this episode from Rote Island, Indonesia, and I’m so excited to be going to Japan this week for my birthday.

We will be spending a week in Tokyo, and I’m just so grateful that I am able to choose city life when I need a getaway from island life.

Why I Recommend An Online Business

I met a girl surfing this morning and told her I’ve been traveling like this just spur of the moment going from country to country for over six years.

Immediately she was like, how? My response is always, “I have my own online business, my husband does too, and having your business online truly opens up a world of opportunities and possibilities.”

This podcast is all about enabling travel and freedom through online entrepreneurship. So in today’s episode, after trying many online business models and running my freedom-based business for the past many years, I will be sharing with all of you the advantages of online businesses!

Location Independence

The first advantage of online business is obviously the location independence. You can bring your business with you wherever you are in the world, and you can make money from wherever you are in the world.

Because of this, you’re able to sustain full-time travel. You don’t have to go back to a job or work half of the year and live off your savings. You are continuously making money and supporting your lifestyle.

If you want to be traveling full-time, this is the number one reason I started my online business and why I started even looking into online businesses in the first place because I knew that I wanted to travel.

I had always loved traveling and I didn’t want to stop and I didn’t want to be confined to the limited vacation days that I had in a year.

You can also set up your online business so that you don’t always need to be connected to wifi. You can set up income streams like ad revenue that monetizes the traffic of people consuming your content.

There are many ways to run an online business so that it suits your lifestyle.

Personally, I haven’t had a base since 2018. I’ve made multiple six figures all while traveling full-time, so it is just honestly the number one business model that I recommend and that is why I help all of my clients audience members start and scale their online businesses.

Scalability

On top of location independence is the scalability. When I first started dabbling in entrepreneurship, I read a lot of books to learn what I didn’t know, and one of the books that completely changed my life was The Millionaire Fastlane by MJ DeMarco.

He emphasizes that in order to give your business the possibility of hitting a million dollars, which is what I had wanted to do since the get go, is that it needs to be scalable.

It can’t be dependent on location, on your time, or any of these other bottleneck factors that will prevent you from reaching a million dollars.

For example, if you run an auto shop in New York City, you’re going to be confined to the people living in that vicinity in order to give you business.

However, with an online business, you have a global audience. You can scale your offers and services worldwide and you can do so so much more quickly because you can add new products or expand your services without the constraints of physical space or resources.

You don’t have to rent out more offices, lease out new office buildings. You can literally just expand your offers online and that takes up a lot less resources than if you had to do so in a physical location.

The Wanderlover Podcast has listeners from all over the world, many of whom I don’t know, and that is the magic of it all in my communities.

There are people from so many different countries and back in the day before the internet, I would’ve had to maybe physically go there in order to make these connections. But now with the power of the internet and with online businesses, you can really scale your impact internationally without having to physically go to all of those places.

Low Overhead

The next advantage is that you immediately have lower operating costs from the beginning.

Taking the auto shop in New York City example, you don’t have to pay rent, you don’t have to pay for utilities like water and electricity.

You don’t have to have staff coming in from wherever they’re living and go to your physical abode in order to do your business or run your business.

Online businesses require less investment in physical infrastructure and your overall expenses just drastically decrease because you’re not paying for rent or utilities or staff.

This is also mainly why there are significantly less online entrepreneurs that take out massive business loans in order to get their business started.

In the past, if you wanted to start a restaurant, a coffee shop, an auto shop, or a clinic, you would have to take out a loan or be in the red for at least the first few years because you’re paying thousands of dollars in rent, thousands of dollars in staff, and all of these expenses you don’t need to start with with an online business.

Flexible Hours

The next advantage that is also one of my personal favorite are your flexible working hours. You can operate your business 24/7 without having to be signed on all the time.

Your website and your social media profiles online are always going to be there and people can check out and work with you and buy from you without you having to quote unquote turn the lights on.

As an online business owner, I don’t have to report to a boss and I can be working on my business whenever I feel like it. That is the most conducive to my personal well-being.

You don’t have to set nine to five hours. You can set your hours however you want to.

Additionally, you have greater flexibility because you can also cater to other time zones. Let’s say you have a client across the world like I often do, I’m able to set my hours to cater for them and run my business so that it’s better for my clients instead of the other way around.

If you go to the doctor or if you go to certain physical businesses, they will have operating hours and that is fine if it works.

But with an online business there is so much more flexibility and it’s really designing your business around how you want to live your life as well.

Automation Opportunities

The next advantage is all of the automation opportunities that again, free up more and more of your time.

For example, with apps like Zapier and ActiveCampaign, you can automate the delivery of digital products or products in general.

Unlike physical products, instead of having your customer needing to go to a shop or check out online and then wait five to seven days for shipping, you can automatically deliver their download to them without you even having to lift a finger because everything is automated.

Many aspects of online businesses such as marketing, sales, customer service, all of these aspects can be automated and because of this efficiency is increased and you don’t need to hire full-time staff.

It really reduces the need for manual labor and that is why the expenses are again so low, so you tend to have a lot higher margins than other non-online businesses. 

I hope you’re getting the point here that if you are looking to start a business, I will always recommend an online one just for all of these reasons and there are so many more!

Income Stream Diversification

The next benefit of many benefits that I’m going to share with you is income stream diversification.

When I first started the Wanderlover, I thought it was just going to be a travel blog, but little did I know when I opened my eyes, there were so many different ways I could diversify my income online under one business, all of which are conducive to the freedom based business.

It does not take up any more of my time or need any more of my effort in order to diversify my income. It was so effortless and so in flow.

For example, you can introduce different subscription models, digital products, online courses, online masterminds, affiliate marketing, ad revenue, and depending on what you ultimately want out of your business, you can totally just stick with one.

The point is you don’t need to be confined to one.

You are able to create and monetize so easily and effortlessly without needing giant expenses or giant investments, and you are just seeing the fruits of your labor and the results almost immediately.

That is another reason why I love having an online business because if I want to add in additional income streams, it doesn’t take long at all.

Fast Set Up

Which brings me to my next advantage is that online businesses and online offers are relatively so much faster to set up.

New products and services can be introduced within weeks or days even depending on what they are, and you don’t need like long physical setups or distribution channels to be set up.

You can sign up for different platforms immediately start selling via online channels, and the whole process from start to finish can be a few months max if you wanted to work quickly and that is why in the Wanderlover Business Academy, I teach you how to start and scale your online business within eight weeks time.

In the Start Your Business Intensive, I hold your hand from A to Z, from starting your online business to making your first sale and teaching you how to rinse and repeat that within three months.

You don’t have to find suppliers, you don’t need to like build any prototypes. You don’t have to hire a team, you don’t have to buy inventory, you don’t have to find warehouses.

So many of these bottlenecks that come from other business models just do not apply.

When I was working in my corporate job, it was so easy for me to set up my online business. It was so easy for me to buy a domain, start an Instagram, start selling products and services, and after you really lean into that flow, learn how it all works, you’re able to do the same over and over again.

Low Environmental Impact

The last advantage of starting an online business as if the first few weren’t enough already, the last one is the environmental impact.

You are able to be so much more considerate of your environmental footprint when it is your own business and when it is online, it can be a lot more environmentally friendly because you don’t have staff that need to commute, you don’t physically need to go anywhere.

You don’t need physical stores, printed materials. Your business does not depend on the environment to run your customers and clients also don’t need to commute to you to receive their product or service.

It is all done virtually, and so the transactions are very seamless. It’s usually just people on their phones or on their laptops purchasing, signing up, and that is it.

Everything is also delivered electronically, so your footprint is a lot smaller.

Conclusion

I am the type of person that if I don’t fully enjoy something, if I’m not fully invested, I will jump ship like I will move on to the next project.

I think life is way too short to be working and living a life that you don’t enjoy, but I have been running The Wanderlover for so many years and it is something I’m going to take with me to the grave.

After many, many iterations, my clients with their online businesses, they are all so incredibly aligned.

If this is something that you want to build for yourself, you see the advantages of an online business and you want to start one, maybe just bring in a few thousand dollars extra per month as a fun side hustle and see where it takes you, you can click the links in the episode description to find a container for support that is perfect for you at this time. 

If you have any questions, feel free to DM me on Instagram and I will see you guys next week when I am in Tokyo. Have an amazing week!

If you’ve enjoyed this episode, it would mean so much if you could leave a review on Apple Podcasts. This helps us spread The Wanderlover mission to those who need a dose of inspiration today.

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