Online Vs Offline Business, Which Would You Choose?
What would you do when you know that you would be losing your day job soon?
Chances are you would be polishing up your resume and start posting them to as many companies as possible. But what are your chances of getting another job in this bad economy where there would be many who are in the same boat as you are. A leaking, soon to be sinking boat!. Over 2 years ago that was my predicament. I was getting complacent with my paycheck to paycheck living style until the bad news came. Two choices of action were open to me,
1. Offline business
Whatever business style that you want to set-up has got its pros and cons. Setting up an offline business during recession is more challenging than when time is booming. But then again recession or not, there things that people need to buy in order to survive, there are services that are required in order for the system to work. There are businesses which started during recession and went on to flourish during better time. So, procrastination is not a welcoming thought to any entrepreneur.
Of course, the offline business would have its challenges too. Getting financing during this time would be much more difficult than before. During the economic boom, the banks would be actively going out to offer money to the entrepreneurs, but during recession the banks are afraid to give out financing for fear that the business would go bust.
The offline entrepreneurs need to work harder at convincing the banks to finance his or her ventures in order to get financing. There are also who fall prey to loan sharks and that would very unwise decision which may cause the demise of the business in a short term, and the owner can go bankrupt.
Due to the above reason I choose to go with the second option.
2. Online Business
One of the most popular ways to earn money at home is via an internet business. There are many online business models. Which one should you choose?
It is not easy to find a good online business. For beginners the fastest way to learn the trick of the trade is by affiliate marketing. By being an affiliate you don’t have to have your own products or your own website to start your business. A good affiliate program would provide you with the necessary material for you to conduct the business as if it were your own. It would be a win-win situation for you and the owner if the business flourishes. A very similar analogy to a joint venture or a franchise business on the offline world.
For a newbie like me, you will be opened to scams. Unfortunately, you could not know that you had been scammed until you have departed with your money. Getting it back is almost like moving a mountain.
You have to be really diligent to get the right online business that can replace your lost income. In fact it should be not just replace but improve your financial status.
Scams are serious issues, it can damage you financially before you even start your online business. Scammers are the loan sharks for the online business. You can prevent it from happening to you. Start by thinking of this as a legitimate work at home job hunt instead of a pass time. This means if you would do it when looking for a job offline do it online.
To avoid being scammed, one other way for is by getting a good coaching system, either online or offline. A good coaching system is one which would give you a step-by-step training for you to conduct your online business. Not only for you to market the affiliate program, it should also be training you to create your own product later on.
There are many more advantages to online business than disadvantages. I don’t need to elaborate on that. As for me, being able to stay at home with my family and taking care of my aging mother are enough motivation for going into online business.
By Normah Hassan
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