Why Start An Online Business: 5 Reasons To Go For It In 2023
Last Updated on February 6, 2023 by Bert-Jan Schilthuis-Ihrig
After the virtual tidal wave in 2020, there’s very little one can’t do online. There have never been more answers to the question “why start an online business,” but I reckon you’re still hesitating if you find yourself here reading this.
Is it the dauntingness of the unknown? Or maybe you’re unsure what business to even start?
There have truly never been more answers to the question “why start an online business” than we’re presented with in 2023. So, let’s examine all of the reasons to start an online business in 2023 and see if your uncertainties can be eased.
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Why Start An Online Business: Say Yes To 2023
2020 was sprinkled (or doused, depending on your situation) with adversity. But, naturally, there is some good to be found in the wreckage.
Most notably with respect to online business, the virtual tidal wave that stay-at-home orders triggered.
With online consumption at an all-time high, the demand for digital content and services has never been greater.
People were online more than ever. And more people were online than ever. How many people saw their not-so-tech-savvy parents Zooming into work? Or their grandparents ordering groceries? Internet usage changed drastically.
That day came because of covid-19. Stay-at-home also forced people who previously would’ve never dabbled with virtual services to acquaint themselves. That blew the field wide open for online entrepreneurs.
Say Yes To You
With an online business, you can achieve the triangle of freedom: time freedom (how you spend your days), income freedom (make as much money as you want) and location freedom (work from anywhere in the world).
It sounds amazing, huh? It is. It’s hard, but it’s also bliss. If the idea of starting your own online business is pulling at your heartstrings, you owe it to yourself to explore the possibilities.
You may also like: How To Develop An Idea For An Online Business
In case you’re doubting it, you are good enough. Your skills do not have to be unique for you to be successful online. It doesn’t even matter if you don’t have profitable skills right now. You’ll do what everyone does: you’ll learn.
You don’t have to be the best of the best or a visionary to make it online. It’s not a secret, members-only club: you can make it happen for yourself just like everyone else.
Whatever skill you have, I can almost guarantee someone pays for it virtually.
5 Answers To The Question Why Start An Online Business
1. You’ve Never Needed Less To Get Started
A cabin in the woods, a hostel in on a Caribbean island (where my digital nomad journey started) or your kitchen table: all you need is a laptop, an internet connection and Google and YouTube as your sidekicks to start your online business.
The internet is an incredible gift to those with an entrepreneurial mindset: instead of needing a bank loan, products, a storefront, etc. to start a business, we just need a computer.
And an idea, of course, but you don’t need an online business idea to get started. The first step is believing that it’s possible to find abundance online and that if other people can find abundance, then so can you.
That single business mantra will take you far in the cold, early mornings of your online business journey: if they could, I can.
Tattoo that on your forehead. Or get a label maker and put it on your laptop screen.
Opportunity on the internet is boundless, so use it to be inspired, learn, start, improve and find your path.
The free resources online are endless:
- There are dozens of classes related to SEO or online business on Skillshare (and get 2 free weeks with my link!)
- Bloggers everywhere (hello! waves hand enthusiastically) have created tons of free content to help you
- There’s no tech problem that YouTube can’t help you solve
Think about it. Getting started only requires a domain name and a website! You can do this just like everyone else.
2. The Internet Offers Unprecedented Opportunities To Connect
And, I mean connect in a few ways: the first is connecting with your “colleagues” (networking) and your potential clients.
The second connection opportunity is really an extension of point #1: who you’re able to learn from.
One of my favorite podcasts about online business is the Location Indie Podcast, hosted by travel bloggers located in the US and Norway. The podcast is extremely casual and unstructured, and is really just the hosts talking about whatever joys or stresses of location independence are on their mind that day.
Can you appreciate how restricted access to a conversation like that was 15 years ago? You would need to know someone personally who was living the life you want and be close enough for them to open up to you. Now, we can start online and plug into a podcast, someone’s blog or email list and get direct access to their insight and advice.
A word of caution to this tale
Did anyone else read that in the voice of the Fates from Hercules?
I’m not being dramatic when I say that this warning is *as vital* as the warning the Fates gave to Hades about Hercules being able to wreck his dream of ruling the cosmos.
Although the internet is overflowing with successful online business stories, don’t be intimidated by them or try to imitate them.
As soon as you start digging around online asking questions like what do bloggers do for money, how can I make 6-figures online, etc. you’ll be inundated with people selling you answers.
The answers will look nice and shiny: A plus B multiplied by C made me 6-figures in my first year of business.
I’m not calling these people liars – it’s true! There are loads of successful online business owners out there. But it doesn’t always lend the right mindset to enter the online business world with.
The truth is, a lot of these people were successful because they did something different. Don’t make the mistake of putting yourself in a mold – you can build any business you want. Imitation is a huge mistake.
Inspiration over imitation.
A final warning here is that people are very selective in how they convey their first successes in the online business world. Many people started out in the same place that you’re in, but you won’t always read it on their “about” page.
The importance of an entrepreneurial mindset cannot be understated here. Stay inspired and don’t compare or imitate.
3. Your income is out there… somewhere
Never before have there been so many options for making money online. The past year saw huge increases in online stores, e-commerce and the demand for e-learning.
Seriously… People paid for virtual golf lessons and online babysitting in 2020.
Nothing has changed which means that your skills can be digitalized!
4. It has never been more okay if you don’t know
Not knowing everything is simply part of being an entrepreneur. Do. not. let. this. stop. you!
Anyone who’s had a profitable online business for a few years will tell you: what gets you through year 1 won’t get you through year 3. There will always be things you don’t know and have to learn.
Not knowing and having to learn is where you’ll start in online business, but it’s also a perpetual state. Remember not knowing really means not knowing yet. Learn to do while you’re learning and push back against feelings that you have to wait until you “arrive.”
I’m still relatively new to the online business party myself. After a few chucked attempts, I started fully supporting myself online in 2020 and it wasn’t until 2021 that my husband was able to join full-time.
Over the years, the need for constant learning hasn’t gone away.
It’s just the nature of making money on the internet: algorithms are updated constantly. Things trend and have our attention. Think of how Black Lives Matter shifted global attention and priorities in 2020.
You must be prepared to put in the time and keep evolving.
5. Recession who?
Yes, the post-pandemic economy is not as strong as it was before covid happened. Some industries are either still hurting or recovering from the recession, such as travel, events and food to name a few.
Alternatively though, some industries are absolutely thriving: signage companies (picture all of those “maintain distance” floor mats, signs, shirts that employees in grocery stores wore), hand sanitizer companies, web designers (everyone had to get their virtual services launched) were thriving during the pandemic.
The big takeaway here is that there’s no such thing as a bad time for every industry, so a recession is not a sign to turn back or wait a year for everyone.
Some major companies were started during economic depressions, such as Microsoft and CNN. It’s the Wild West – there are no hard rules here. Don’t impose bogus restrictions on yourself because you’re too scared to take the jump.
Why Start An Online Business? Now Is The Time
If the dream of starting an online business is on your heart, then it actually doesn’t matter if 2023 is the best time or not. The choice is clear: pursue the life you actually want in 2023 or continue to live each day in dissonance with your ambitions.
A famous quote from a Chinese proverb comes to mind:
“The best time to plant a tree was 20 years ago. The second best time is now.”
Valid fears and hurdles be damned, it’s a really good time to enter the online business world. Having the courage to change your life and pursue what you really want is going to rock your year and change your life in every way, if you let it.
Why Start An Online Business: Final Thoughts
If you’re still here reading this online blog post on “why start an online business” then the elephant in the room is why not start one?
Show up big in 2023 and your 2024 self will thank you.