The traditional economy is struggling… in fact, I’d go as far to say that in the vast majority of business areas, it’s broken!
You don’t need me to tell you that if you walk down any high street in the majority of cities around the world, you’ll see a significant number of boarded up shops and stores and a multitude of struggling retailers. In addition to this, other traditional businesses are finding it equally challenging too, not to mention the large corporations with their high running costs and reduced turnover.
This is a bleak picture, but…..
….. did you know, that more millionaires are created coming out of a challenging economic period than leading up to, or during an economic collapse?
So, this is good news, right?
Well, yes, but here’s a word of caution. If you’re thinking about starting a business using a ‘traditional’ business model, then let’s take a look at some criteria and how an Online Business might compare.
- Does the business have start-up costs, if so, how much?
- Will the business require staff, if so, at what cost?
- Will the business require office premises?
- Will you be able to sell your product/service to a global audience?
- Is there a sustainable market for your product/service?
- Is this a scalable business, or will it have limitations?
- As the business owner, will you be exchanging ‘time for money’?
- Can you operate your business from anywhere in the world?
The Digital Economy
Over the past few years, you will certainly have noticed a shift in the economy, and businesses such as eBay, Facebook, PayPal, Netflix, Amazon have, well, not to put too fine a point on it, made a healthy income from selling their products/services online.
The Office of National Statistics (ONS), based in the United Kingdom, released some figures recently, which stated: -
92% of 25 – 34 year old, bought good or services online
53% of adults access the Internet via a mobile device (smart phone, tablet etc)
93% of 16 – 24 year olds, uses Social Media
36 million people (73% of the adult population) logged on in 2013
55% read newspapers online in 2013, up from 47% in 2012
What does this information have in common, that’s right, it’s a trend, ALL in the same direction, and all pointing towards a digital economy taking a firm grip on what we’ve taken for granted as the ‘norm’ for hundreds of years.
This for me, this was the deciding factor when I joined the SFM. I wanted a business which: -
- Has significant growth potential
- A global audience
- Lower start-up costs
- No staffing
- I didn’t have to exchange my time for money
- I could sell products when I wasn’t working
- No need for premises or stock
- Able to work anywhere in the world, when I wanted
- Offering a complete business system
- Full support from an online community
If this type of business opportunity is something you’d be interested in, click HEREfor further information.