The best thing about start ups is that they are a new form of business and can be innovated and designed in any way that is required to make profit. This is one best advantages of a start up and the reason start ups are extremely important for the functioning of the economy is because it is only the good investors who will invest in reliable start ups and hence the economy will grow.
The idea of online start ups is something that the people over the world have been accessing for some time now. Hence it would be a great idea to open one.
|BENEFITS OF ONLINE START UP||DRAWBACKS OF ONLINE START UP|
|Profitable Business Venture||No Visual Medium|
|Start Ups are Good for Economy||Some People Prefer Shopping Physically|
|No Storage Space||Selective Market|
|Online Shopping is the New Trend||Only Available with Internet|
|Attract Youth||Payment for Domain and Server|
|Design Space to your Liking||Server Crash|
|No Need of Maintenance||Tremendous Competition|
|No Cleaning Work Required|
ADVANTAGES OF ONLINE START UPS:
- Profitable Business Venture:
The best way to earn some profits is to establish some dead capital and turn it into the form of new finance capital. This is one of the main reasons for the functioning of the start ups and the establishment of various start ups.
- Start Ups are Good for Economy:
The start ups are good for the economy, especially if the start ups are made from the process of online investment and demand. The reason many start ups are moving online is because there are better profits online. One of the main reasons for this is the functioning of click shopping.
- No Storage Space:
The storage space that one would usually have to find for a start up that has the ability to sell goods and services is not required in the case of an online start up venture This is because the start up is generally maintained online.
- Online Shopping is the New Trend:
With the latest trend of online shopping it would be a great idea to finalise upon the concepts of the start up as one that affects the functioning of the youth and the online shopping markets. For this reason it is easier for online start ups to make profits.
- Attract Youth:
The youth is naturally attracted to anything that the people have put up online. This is one of the main reasons why the start ups are maintained for the purpose of online shopping and services. The online start ups will be able to enhance this approach.
- Design Space to your Liking:
The design of the online start up is something that you can choose and make on your own or ask a professional designer to make. The professional designers charge a moderate amount of money but ensure you are happy with the space that is provided to you.
- No Need of Maintenance:
The maintenance of the start up is something that the people do not need to worry about because the entire company is online and there is no physical space. Even if you rent a small office it is possible for you to enhance the quality of the start up easily.
- No Cleaning Work Required:
The usual amount of money that goes into making the process of the start ups is something that makes the entrepreneurs back out. Along with that the maintenance of the stores and the retail chains is also something that worries them, but not when it comes to online shopping.
- Great Profits:
The profit that you can make with an online start up in a small amount of time is something that you cannot make with a physical start up. This is because of the overhead expenses and other forms of petty expenses. Online start ups have a limited budget requirement.
DISADVANTAGES OF ONLINE START UPS:
- No Visual Medium:
A big problem of online start ups is that there are no options of having visual medium or physical medium unless you buy the commodity that is required. This is one reason online start ups lose some amount of customers. This is also an unattractive option for the people.
- Some People Prefer Shopping Physically:
The people who prefer shopping for their goods physically and through the process of new and improved customised methods will have difficulty not only shopping online but also in accommodating their tastes to what is available online. This is a big reason for this problem.
- Selective Market:
Another reason why the online markets are not good enough is because the audience of online start ups are reserved to the youth especially in technologically backward countries. This means that the older people have a tough time in engaging in shopping making it a selective market for the entrepreneurs.
- Only Available with Internet:
The online start ups can naturally be only available through the use of internet. This is one of the reasons that the people who make these start ups can engage in the production and consumption of these goods, but people who are base in rural areas will have difficulty accessing online shopping.
- Payment for Domain and Server:
The payment for the domain and the servers will be reduced to a process of income generation for the domain and server provider, with plans based on the traffic of the website and increase in princes through the process of gradual increase in prices.
- Server Crash:
The crash of servers is something that one must be aware of. This is due to the problem of internet and the accessibility of internet. For instance during storms your internet provider or server might completely crash, hence having to make repairs to your online start up.
- Tremendous Competition:
The competition between online start ups is often considered to be more than the competition between the physical stores in the same locality. This is because the online market is still a new market and the options available are limited. The monopolisation of the online market will be the process of functioning.
Start ups are great for the functioning of the economy and the market in itself is ripe for start ups. Hence online start ups have been in the arena of business and markets for a long time, this makes it a great influence on budding entrepreneurs. With clever investment start ups are very profitable.
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Business, marketing, and blogging – these three words describe me the best. I am the founder of Burban Branding and Media, and a self-taught marketer with 10 years of experience. My passion lies in helping startups enhance their business through marketing, HR, leadership, and finance. I am on a mission to assist businesses in achieving their goals.