subject: Why Build An Online Business? [print this page] Is building an online business worth it? Many people aspire to achieve financial freedom and having a 9 to 5 fix salary job will never get you there. Why? The reason is simple. In the system of employment, you will have to trade time and effort for money. This is also referred to as active income. The moment you stop working, your income stops as well. This means in the employment world, you need to continue working in order to continue getting paid. This type of income is always limited by time. Once you retire or stop working, you will have to rely on your savings and retirement funds which will eventually deplete. Hence, having a 9 to 5 job will only cost us to retire poor. To achieve financial freedom, we have to change our employment mindset and start building assets.
Building your own business is always one of the pillars of financial freedom. Here are some of the reasons why building an online business will help you achieve that:
1. Online Business have a Massive Market
The Internet is growing rapidly. In the year 2009, there are 1.7 billion Internet users worldwide. In terms of the Internet population, there is a growth of 380.3% since 2000 to 2009 and new user penetration of 25.6% in the year 2009. This indicates massive business opportunity online. Furthermore, the Internet is only approximately 20 years old and it still has a tremendous growth potential. Wouldnt you want to do business with such a huge market that has an explosive potential of growth?
2. Online Business Generates Passive Income
An online business generates passive income, which is the key to achieving financial freedom. Passive income is basically money you receive without having to do much work. It is revenue generated from working once and the stream of income continues as long as your business continues to operate. It is different from earned income whereby you trade your time and effort for money. In building an online business you have to understand the basic principle of leverage. You dont need to have your own products, an office location, hire your own staff or even keep costly inventory for the products you sell.
3. Ability to Work at Your Own Time
Next an online business allows you to work at your own time in the comforts of your home. You do not need to report to your boss or clock into your office. You are now a business owner. Creating passive income online will free up more time for you where you can enjoy more quality time with your family and friends.
4. You Will Never Get Rich Working for Someone Else
There are a group of people that wouldnt mind working hard for a fix paycheck. I believe if you are reading this, you are not one of those people. By working for someone else, despite how hard you work; your income will remain the same! You will never get rich working for others. The only people that will be rich, in the expense of your hard work are your boss and the organization you work for. Building your own online business will reward you with unlimited passive income potential. The more effort you put in, the more youll earn. This sounds like a better deal isnt it?
by: Giden Lim
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