Online or Offline Business? Which model works best for you?
Firstly we must think about the pros and the cons of online and offline business. l myself vote with blind eyes for the online model of business because its more practical for me.
What are the real benefits if any?
The online business model is very cheap to start-up. For instance to build and eshop with computers and software it cost some thousands or even hundreds of dollars for specific niches. On the other hand, the traditional brick and mortar businesses would start from 30.000 dollars to 200.000 dollars. Bear in mind that the operational expenses are high for an offline business due to high rent, traditional advertising, employees and so many other expenses that an offline business has. The maintenance expenses of an online business are quite low, it could start with 1o dollars per month for hosting and a domain name and some graphics or personal work, but your online business will start produces profits on the short run, because it has a very low break even point!
A brick and mortar company apart from the high cost to break even , it also has time restriction on operation as it is not a 24 by 7 by 365 days a year open like the e-business model. in the online business you can work from home, have your own working hours and have more freedom that the traditional offline. Moreover you don’t have to commute and you save yourself time and of course money.
The online business can work in the auto pilot and if it built correctly you will develop a very scalable model and you can have online passive income. The online passive income has many good things to the beneficiary.
1. After you made a strong initial effort to get your income started, then there is need for minimal work or virtually none thereafter resulting in earning more and doing less. This is the true nature of online passive income.
2. Freedom to choose when and where you wish to work.
3. Create an unlimited amount of income – you are only limited by your imagination. You can also create more than one streams of online income, the best is to have 7-8 multiple streams of online income, just for security.
4. Have more free time to spend time with your family, friends or go on vacation.
I think that this is every businessman’s dream and everyone starts a business to be independent of time and money.
The offline business model cannot provide you what you really want, instead of having an offline business or a franchise either, it is better to divest and be an investor. This will free you more time and makes your money to work for you.
Robert Kiyosaki and Online Business
The first time l came across the idea of passive income was with the book Poor Dad Rich Dad by Robert Kiyosaki. Robert kiyosaki is a well-known author and economic leader and advisor that had two dads. One Rich. One Poor. The philosophy of Rich Dad was built from a simple lesson learned by Robert Kiyosaki at an early age. He had two dads, one rich and one poor.
Robert’s poor dad, his natural father, was highly educated, the head of the Hawaiian school system, and enjoyed a decent salary. Yet, he constantly complained about having being broke and continually said, “I can’t afford it.”
Robert’s rich dad, his best friend’s father, was a high-school dropout building a business. He wasn’t wealthy. Yet, he constantly enjoyed the finer things in life and always asked, “How can I afford it?”
The contrast between Robert’s two dads taught him a great lesson. Robert realized his poor dad’s outlook suppressed his dreams and closed his mind to the possibility of financial freedom. He died penniless and full of regret.
His rich dad’s outlook elevated his dreams and opened his mind to life’s possibilities. He achieved great wealth, financial freedom, and enjoyed life to the fullest. Both were good and highly capable men. But only one lived richly.
l mention Robert Kiyosaki here because l believe that his writing and his education is exactly a guide for someone who wants to start his own online business. Kiyosaki has an online passsive income from his websites. There are still many opportunities in the traditional offline world, but l know the future is Online.