Save Cost
By eliminating the brick and mortar stall, you do not have
to worry about rising rent or renovation cost. Did I also mention that the cost
of setting up a website or listing on selling portal (etc. ebay, amazon, ebid)
is comparatively lower as compare to a physical stall. You can also save cost
with other operations such as customer service, delivery or inventory storage
with a good business model.
Always Open
A business
on line will not require a person to physically mend the stall,
with just an automated system and email. Your business would be open 24 hours
per day and 7 days per week. Your online business operates when while you are
sleeping, travelling, studying or spending time with your loved ones.
World wide Reach
Your customer do not necessary be from your geographical
location, with the internet you are able to reach customers worldwide. Forget
about competition at home, imagine the untapped potential!
Documented Data
Analysis
Without being physically present, you are still able to know
how many people have visited your page, purchased and which are the most
popular products. Thanks to the beauty of technology and Google. These vital
information that could aid in your strategy planning and competitive analysis.
High Adaptability
Along the way, you might feel that this product is not
profitable or suitable for you. In a traditional business, you cannot simply
change the product or service you are offering. Much resources have been spent
on these, the physical products are lying around at the back, tenancy agreement
have been signed for 2 years. The
business is making a loss, any transition will require at least a few months
additional time and money will be wasted.
Due to the nature of online business, it is possible to
change the business strategy within a short time without much trouble. By being
able to identify the problem from the data analysis and implement the new
strategy in a short time, this will definitely give your company a competitive
advantage.
Hope the above will give you a clearer picture on the
advantages of building business
on line.