After the 1990, The Information Age started and in the Information Age a new type of Business model was created and that Business mode was “The Online Business Model”
With the Invention of Internet, The Virtual Space was created in this world to do a Business. And that was the Online Space. Means everything was Virtual. Your whole the Business now was in the Virtual Space.
You can buy, sell, trade & Rent various Goods & Services Online in the Information Age. So the Information Age has changed the Way of Business.
Advantages of Online Business Model -
01) Low Start-up Cost -
The main advantage of a Web Business is its low start-up cost. Just think that suppose you want to start a Retail Store. Now if you want to start it like a traditional Business than first of all you will need a large Commercial space in some prime location of your city area. So that will cost you crores of rupees.
But if you start your Business Online means if you launch an Online Retail shop than all you require is a Web Domain. All you require is an Online Space which will cost you just few hundred bugs.
So This is the main advantage of the Online Business Model.
02) Minimal Maintenance & Operating Cost -
Traditional Business model requires a high maintenance cost and an Operation cost. But an Online Business model requires very minimal maintenance and operating cost.
Say for Example, Amazon.com, E-bay.com. Both of these Businesses can be operated with a Minimal Maintenance Cost. While traditional Business requires a high maintenance cost.
03) Low Man Power Required -
Suppose you start an offline Business than a traditional Business requires a huge manpower to run it. But an Online Business requires very low manpower to operate it.
04) Worldwide Connectivity -
According to the Comscore Data, The world’s Internet users have hit the magic figure of 1 Billion. Yes, there are right now more than 1 Billion (100 Crores) people who are using Internet regularly.
This is the main advantage of an Online Business. In the Online Business, the day you start your Business, you are connected with these 1 Billion Internet Users (Customers) from Day 1. All of these people can access your Business from anytime and from anywhere in the world and use the products & services of your Business.
05) Low Cost Goods & Services -
Low start up cost, low man power cost and low maintenance cost will put your Business in position to sell the goods and services at lower price to your customers in comparison with traditional offline Business model.
While in offline Business you can’t sell your products & services below certain prize because you must have to meet your maintenance and man power requirements.
06) Easy Expansion -
In the Web Business, from the day you start your Business, your Business is expanded world wide. While in traditional Business you need to expand a lot to cover whole the world. Say for Example, Amazon.com – Amazon is an Online Shop so it is expanded worldwide from the day 1. People from USA, Europe, Australia, India, China and other parts of the world can shop online from the Day 1, Amazon has launched but if you open an offline Shop than you have to expand your Business and open a chain of shops world wide to target the customers from different geographical locations.
07) You can operate it from anywhere -
The Best Part about the Web Business is that you can operate it from anywhere in the world. Say for Example, take the Example of this Blog. This Blog is my Web Business. It’s an Online Business so no matter in which part of the world I go, I can operate this Business from anywhere in the world. While I cannot operate the traditional Business from any where in the world.
08) 24/365 Working Model -
Another main advantage of the Online Business model is that, it can work for you 24 hours a day, 365 days a year. Suppose you open a traditional Business than you can’t run it whole the day and night. You have to close it at night.
So when you close your Business at night, it means that you lose the Revenue. But the Online Business can run whole the day and night so it can run 24 hours a day through out the year. So the productivity of the Online Business can be several folds more than the traditional Business models…..
So these are the few advantages of the Online Business…… I love Online Business…….!!!!!!!
With the Invention of Internet, The Virtual Space was created in this world to do a Business. And that was the Online Space. Means everything was Virtual. Your whole the Business now was in the Virtual Space.
You can buy, sell, trade & Rent various Goods & Services Online in the Information Age. So the Information Age has changed the Way of Business.
Advantages of Online Business Model -
01) Low Start-up Cost -
The main advantage of a Web Business is its low start-up cost. Just think that suppose you want to start a Retail Store. Now if you want to start it like a traditional Business than first of all you will need a large Commercial space in some prime location of your city area. So that will cost you crores of rupees.
But if you start your Business Online means if you launch an Online Retail shop than all you require is a Web Domain. All you require is an Online Space which will cost you just few hundred bugs.
So This is the main advantage of the Online Business Model.
02) Minimal Maintenance & Operating Cost -
Traditional Business model requires a high maintenance cost and an Operation cost. But an Online Business model requires very minimal maintenance and operating cost.
Say for Example, Amazon.com, E-bay.com. Both of these Businesses can be operated with a Minimal Maintenance Cost. While traditional Business requires a high maintenance cost.
03) Low Man Power Required -
Suppose you start an offline Business than a traditional Business requires a huge manpower to run it. But an Online Business requires very low manpower to operate it.
04) Worldwide Connectivity -
According to the Comscore Data, The world’s Internet users have hit the magic figure of 1 Billion. Yes, there are right now more than 1 Billion (100 Crores) people who are using Internet regularly.
This is the main advantage of an Online Business. In the Online Business, the day you start your Business, you are connected with these 1 Billion Internet Users (Customers) from Day 1. All of these people can access your Business from anytime and from anywhere in the world and use the products & services of your Business.
05) Low Cost Goods & Services -
Low start up cost, low man power cost and low maintenance cost will put your Business in position to sell the goods and services at lower price to your customers in comparison with traditional offline Business model.
While in offline Business you can’t sell your products & services below certain prize because you must have to meet your maintenance and man power requirements.
06) Easy Expansion -
In the Web Business, from the day you start your Business, your Business is expanded world wide. While in traditional Business you need to expand a lot to cover whole the world. Say for Example, Amazon.com – Amazon is an Online Shop so it is expanded worldwide from the day 1. People from USA, Europe, Australia, India, China and other parts of the world can shop online from the Day 1, Amazon has launched but if you open an offline Shop than you have to expand your Business and open a chain of shops world wide to target the customers from different geographical locations.
07) You can operate it from anywhere -
The Best Part about the Web Business is that you can operate it from anywhere in the world. Say for Example, take the Example of this Blog. This Blog is my Web Business. It’s an Online Business so no matter in which part of the world I go, I can operate this Business from anywhere in the world. While I cannot operate the traditional Business from any where in the world.
08) 24/365 Working Model -
Another main advantage of the Online Business model is that, it can work for you 24 hours a day, 365 days a year. Suppose you open a traditional Business than you can’t run it whole the day and night. You have to close it at night.
So when you close your Business at night, it means that you lose the Revenue. But the Online Business can run whole the day and night so it can run 24 hours a day through out the year. So the productivity of the Online Business can be several folds more than the traditional Business models…..
So these are the few advantages of the Online Business…… I love Online Business…….!!!!!!!
