If you are reading this, then you are probably researching ways you can finally break free from your 9-5. Well, let me tell you that starting an online service-based business is an excellent way to transition from employee to own boss.
Running this type of business has many benefits when you compare it to running a brick and mortar business or even an e-commerce store.
Continue reading as I talk you through 5 undeniable benefits of starting an online service-based business.
So, what is a service-based business?
Put simply, you have a skill and people want to pay you for it. Every person has at least one (and often many!) valuable skills that they can sell. The key is to identify that unique skill that you have so that you can build your very own business around it.
This unique sellable skill can come from professional experience, life experience, or simply things that you are naturally good at!
Common service-based businesses include virtual assistants, coaches, social media managers, graphic designers, copywriters, Pinterest managers, nutritionists, personal trainers, and so on… Whatever service you offer, you can build your very own business around it!
RELATED: Create a one page business plan
You don’t need to reinvent the wheel to build a thriving business
You can use your existing skills and put them to work in a business of your own.
The key is to identify that unique sellable skill.
Here are some real-life business ideas from the women that have been going through my programme over the past few weeks:
- A health coach that has found a unique nutrition niche.
- An acting coach with a signature programme.
- A spiritual coach that creates personalised solutions for clients.
- A virtual assistant specialising in a fast paced industry.
What I love about these business ideas is that they all involve one of their passions.
You want to build a business doing something that you love! Keep this in mind when defining your business idea.
Benefits of starting an online service based business
There are many advantages to starting a service-based business vs one selling products or a brick and mortar business, including:
1 – Low initial investment:
You don’t need to invest a lot of money to get started, so there is less risk. Your start up expenses will be quite low as you won’t need to buy products or rent a physical space. All you need to get you started is a laptop and an internet connection!
2 – Flexibility:
You can run your online business from anywhere! Unlike a physical business which requires you to be there to operate, you can easily run your online business according to your lifestyle needs.
Do you want to work from home in your pjs? Or around your children’s school schedule? Want to take your business on the road and work while seeing the world?
No matter what your dream lifestyle is, you can fit your business needs around it.
3 – Start small and grow your involvement as your business becomes more profitable:
You don’t need to quit your day job to start an online business. You can continue working full-time until your business becomes your main source of income. This, once again, makes starting an online business less risky.
4 – Set your own hours:
Are you a night owl or a morning person? When you run an online business you can choose when to work. Of course, there might be times when you need to schedule a client meeting during office hours, but most of the time you will have the flexibility to decide when to work.
5 – Start making money straight away:
You don’t need to wait for stock to arrive or for a store to be ready to start serving your customers. As soon you ready to start, you can do it from the comfort of your laptop.
In conclusion: the benefits of starting an online service based business
So there you go, here are 5 undeniable benefits that you will enjoy if you decide to start your own service based business!
The biggest benefit for me is the flexibility. This was the main reason why I decided to leave the corporate life to start my own business. Working in an office was making me feel claustrophobic and I craved the freedom of working on my own terms.
For me, this means being able to choose:
– my schedule
– who to work with
– which projects to work on