Last week I told you about all the great benefits that come with making money with affiliate marketing.
Today, I want to broaden the scope a little bit and share with you a list of 15 benefits that come with starting and having an online business (that actually makes money).
As I’m sure you know, there are plenty of benefits of being your own boss, but even though many have tried starting their own online business, many have failed.
To help you with this and to make sure you do not suffer the same fate, after listing all the benefits, I will also provide you with some additional resources you can check out to learn how to (finally) start and succeed with your own online business.
But first, here’s a quick TLDR overview of…
All The Benefits of Having Your Own Online Business:
You Get To Quit Your Job
Starting with the obvious, yes – when you have a profitable online business – you can actually quit your job to work on it full time.
Of course, how much you need to be making to quit your job is up to you, but one piece of advice I can give you here is to not rush this step as it’s quite a big one.
I would personally have 6-12 months’ worth of living expenses saved before you start thinking about it and only when you are making more than what you make at your offline job, should you quit and move to your online job.
Also, remember that if you were making $5,000 from your job and $5,000 for your online business, when you quit to go work on your business “full time”, you are not going to have $10,000, but $5,000 – which is why having 6-12 months worth of expenses stored up is always a good idea.
If you’d like to learn more about this and how you can plan for when to quit your job, I recommend watching this great video from the guys at Income School:
You Get To Join The #NoMoreCommute Club
Do you know what’s an even bigger benefit than NOT having to go to work?
Not having to sit in a car for one/two hours a day driving your half-awake self to a job you don’t really like.
This was the biggest driving force for me to quit my job, and I only had a 30-minute commute (which I still hated).
I hear stories of people having to drive 2 hours to and from work, and to me, that’s 4 hours of wasted (unpaid) time just sitting there miserable waiting for to get home so you can sleep and start the day all over again tomorrow.
That is not my way of going about life, and yes – this “not having to drive to work” benefit deserves a stand-alone mention in this post.
You Can Make Money Anywhere In The World
Another big selling point for running an online business that makes money is you can work from wherever you want in the world.
This is somewhat over-hyped as in reality, not many online business owners want to be traveling all the time, but it is true nonetheless (if that’s what you want to do).
Most (young) digital nomads start-up online businesses and then move to South East Asia (or Eastern Europe) to have a bit of fun, travel, adventure and of course, a much lower cost of living.
I don’t really do this myself, but if the above sounds like fun to you, creating an online business is what you need to be working on.
You Can Make Money Doing What You Love
Do you hate your job?
Well, make sure that when you start your online business, you build it around something you love.
You do not want to be facing the challenges of “building a business” when you do not enjoy what you’re doing.
Building an online business is just like any other business; it takes hard work, patience, sacrifice, etc… and you will feel the “negatives” 10X worse if you hate it.
If that’s the case, you’re better of sticking to a job you also hate and collect the benefits, steady paychecks and “mediocre” life.
& yes – in case you are wondering;
You can most definitely build an online business based on something you love (and the course I have for you below will show you exactly how to do that).
You Get To Work With Like-Minded People (Or None At All)
I’m a “private person” and I don’t like big office spaces “buzzing” with people and loud music;
For me, having my own private online business was a god-sent, but even if you’re not like me, and you like networking and working with other people;
Having your own online business opens you up to just about every other person with similar interests in the world.
An online business gives you the exposure and opportunities to meet like-minded people and work/talk about the things you both enjoy, which is great for some (but maybe not for others).
You Get To Experiment & Be Creative
While I would not consider myself as an exceptionally creative person, I do enjoy tinkering with ideas and seeing them come to life.
If you have any inclination towards being creative, then an online business also gives you the ability to be creative, come up with new ideas, test them out, fail, learn and eventually – succeed.
Of course, there’s a risk to all of this as you do not want to be too creative that it hinders your growth and business, which is why the next “benefit” can be a scary one for many.
You’ll Start To Think Like An Entrepreneur
You just have to.
Some like it, some don’t, but yes – running an online business does require you to make decisions you don’t want to make.
When you’re an “entrepreneur” every day presents a new challenge and if you want to last, you need to learn how to welcome these problems with open arms and quick-fire solutions.
Even though I’m making this out to be as an overwhelming responsibility, I promise you;
There’s nothing more rewarding in life than creating a business, going through the challenges and seeing it work and produce money for you.
It’s a benefit that not too many appreciate.
You Can Literally Make Money 24/7
This may not be the case for all types of “online business ideas” but it is for most.
An online business is open for everyone, anywhere and at any time.
I wake up daily to affiliate commissions, Shopify sale notifications, and emails telling me I sold more products to my readers and customers.
Yes – as corny as that sounds – I do make money while I sleep.
You do not have to be “at work” to make money with your business. As long as your website is up, you are receiving readers and the readers are producing an income from you.
You Get To Build Assets (For The Future)
One crazy realization I came to this year was the fact that I will probably make the most money – when I stop working.
This is because as I’m currently working on the business, I am investing money back into it, which means; I have expenses.
However, once these assets are built (in my case, it’s a portfolio of affiliate niche websites), they will eventually be able to run without me. The money they will be producing will be all profit (for the most part).
Of course, if you’re not working on it, don’t expect your income to keep on soaring forever, but you will get to a point where your business makes more money without you, leaving you open to start a new business – or else;
You Get To Spend More Time With Your Family
My parents retired this year, and every morning, I go over and have a coffee with them.
It’s a simple pleasure, but one I appreciate the most in life as I am a big “family” man and the fact that I can see them whenever I please is a benefit which I credit only to having my own online business running and producing an income for me.
Once you start your online business, and it grows to the point that you can spend more time with your family, make sure you DO spend more time with your family.
It’s what having a “freedom business” is all about.
You Can Automate Most Tasks (For More Free Time)
Another major benefit that opens up to you when you are profitable is; hiring people to do the work for you, which will open up more free time for you to enjoy some of the other benefits we’ve discussed in the post.
For my business model (which is mostly affiliate marketing), my biggest task is publishing new content to rank in Google and bring in visitors.
Now that I’m profitable and have a bit of money to invest back into the business, I can not outsource that work to others, and all I do is work on the “bigger picture stuff” only.
Of course, this takes time to get there, and it does come with quite a bit of challenge, but if you’re set up right, there’s nothing like outsourcing work to others while you sit back, do nothing, and collect the profits.
You’ll Start Looking Forward To “Tomorrow”
This may not be the case for you, but I remember when I had a full-time job, I used to hate going to bed as that means I will soon be back into the grind having to repeat the entire process as soon as I wake up.
Nowadays, I look forward to tomorrow when I wake up (whenever I want), check my emails, check my traffic, check my earnings and get out of bed with a big smile on my face.
If you’re constantly going through life “hating tomorrow” or “living for the weekends” then you need a change. Hopefully, – this post is pointing you towards starting your own online business and taking advantage of all the benefits it brings with it.
You’ll Start Getting “Free Stuff” Thrown Your Way
It’s not the biggest benefit, but one I’m sure this will intrigue many people reading this.
When you have an online business, you are constantly being pitched to try out new things, and many companies would be willing to send you free items so you can help them get the word out.
I get this mostly with this blog from companies giving me access to a lot of premium tools for me to try, review and promote, but I’ve also had this happen to me with some of my other niche sites that sell physical products and, yes; I do get free stuff sent to me by mail nearly every month.
You have to be careful with this though as you do not want to endorse a bad product just because you got it for free, but yes – you can look forward to people sending free stuff your way.
You’ll Have (Relatively) Low Running Costs
The actual costs of starting and running an online business are very, very low.
I can “start a new business” with only a $15 domain and a basic hosting package, and I’m good to go.
As mentioned above, as you start growing, expenses will increase as well, which is something you have to keep in mind but overall, the running costs of the business will remain low whilst you are growing.
I can have a site that makes $100 a month and one that makes $1000 a month, both of them will only cost me $100 a year to start and maintain (unless I’m hiring writers to work on the site)
You Can Take This Anywhere You Want (Unlimited Possibilities)
One thing I’ll end with before I show you how you can start an online business is the fact that you can take your business anywhere you want.
I started as a blogger, then started making money with affiliate marketing, then started a dropshipping store, and now create and sell online courses.
There’s no limit to how much your business can grow.
It all goes back to how creative and how much of a risk (as an entrepreneur) you are willing to take.
Given the fact there’s very low risk (low start-up costs) you can keep expanding and growing your business month on month & year on year. You’re only limited by you (which is a powerful statement).
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Ready To Get Started? Here’s How You Can Start Building Your Online Business – Today
So there you have it; 15 benefits of having an online business that makes money.
What do you think? Want to know how to get started?
Great, here’s how you do that…
My favorite way of making money online is with affiliate marketing, a commission-based business model that nets you a % of every sale you make for someone else.
If you want to see how that works, you can see how I build simple affiliate blog websites that make money here.
If, on the other hand, the idea of affiliate marketing does not excite you, I suggest you take a look at my guide detailing 4 quick ways you can make $1000 online with your own online business.
That guide gives you a few more ideas with guides on how to start with each one.
I also have a list showing you the best courses you can learn from if you want to start an online business. If you’re brand new, that may also be an interesting read for you.
Since 2011, I’ve been learning how to make money online with affiliate marketing. This website is where I share everything I know and all I will learn along until I reach my next income goal of $30,000 p/month.
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