There are quite a few ways in which people can earn money from their own home. For every person selling advertising space or encouraging others to buy things using affiliate links, there are a dozen more looking for a more hands-on approach to at-home money making. For these people, there’s nothing better than an online business.
We’re fortunate enough to live in an era where people have access to literally everything they can imagine. Because of this, home-grown jewelry designers and seamstresses have popped up throughout the world. These people make their money by selling their wares online, rather than in-person.
Benefits to an Online Business
The benefits to online retailing are so numerous that I can’t imagine why people try to make it in a physical retail space. For starters, there is almost no overhead with an online business – you can work from your living room, or your basement, or your spare room. In Canada and the U.S., you may be able to write off a portion of your rent, mortgage and utility bills on your tax return, saving you even more money.
In terms of customers, people selling offline in retail spaces are limited to the customers that walk through their doors. With the internet, your customer base grows to over seven billion people.
It would be an understatement to say that having a seven-billion person customer base is awesome. Online retail websites allow you to sell even the most obscure, odd products to anybody on the planet. For example, on Etsy – right now – there are over 100 results for “banana leaf wallpaper.” While this isn’t my style, at all, there are people in the world who are buying each of these 100+ variations and hanging them on their walls.
Another example, a much less obscure, is this Toronto couple. These two millennials quit their jobs two years ago to begin an online shop selling fair trade, sustainable products to North Americans. Although the vast majority of North Americans still prefer to buy imported goods at Wal-Mart, there is enough of a market that these two Torontonians are able to survive on their shop’s profits, while still donating money to charity.
Yes, the idea of quitting your job sounds scary – you will have to make it on your own instead of relying on a steady paycheque. However, instead of looking at it as a journey into the big bad world of entrepreneurship, look at it as an adventure. With an online business, instead of getting a weekly paycheque, you can get a daily paycheque. Instead of making $30,000 a year, you get to make $60,000. In fact, with an online business, your earning potential is practically unlimited!
If you’ve never been around a new entrepreneur, go find one. Their optimism and excitement is exhilarating and contagious. These are the people of the future, the ones who believe that anything is possible and who have quit their jobs and dedicated their lives to their dream.