Online
retail is becoming a booming business that commences too many economic business
struggles. There are different types of economic Business models and online
stores that becoming complicated and fast sources of business. It is often
considered that running an online store is a complicated and complex process
because it requires are a huge fan of services before launching any product
line brand (Smallbiztrends. com, 2018). The E-Commerce
Business models are different for typical online stores that rely on sales of
products. An online business starts with personal and Niche efforts and
provides the highest profit gain because of sales of the products in the
affiliated market increases. During 2019 countless online business ideas turn
into reality. A number of people quit their jobs and started generating money
from internet (Wakeling, 2019). The online business provides a
comfortable lifestyle to family and the owner of the business, more time to
take rest and relax, and to achieve financial freedom. Basically, the business
owners spend some time considering the idea and consequences of an innovative
concept in business and ultimately resort the business back to the comfort zone
(Milesbeckler. com, 2018). The steady income
through online business secure job and provides opportunities to take
advantages. There is a wide range of options for an online business, for
instance, one can start blogging, set up an e-commerce site, self-publish a
book on Amazon, become a YouTuber, launch a new app and becoming an SEO master.
There is a wide range of advantages of setting up an online business but in
certain circumstances, the consequences are also there (Corrigan, 2019). The aim of present work is to analyses
new and creative business ideas of 2019, how these business ideas were started
and flourished with the passage of time, advantages of online business, and
disadvantages of online business. The present study provides a complete
overview of Complex business ideas and how it can be implemented. The detailed
analysis of advantages and disadvantages is included to conclude the study (Cornell, 2016).
Types of Online Business in 2019 for
beginners
There
are tons of online business ideas for beginners. The beginners should select
such a business idea which they think can pull off easily and have the
potential to generate a significant amount of profit. Before starting the
online business it would be great if the market research is performed to
identify the latest trends and what the customers are looking for. Through
this, the person who wants to start an online business will have the
opportunity to make it successful. Any individual who wants to start an online
business can choose from the following online business ideas:
Web
designing in Online business
The
individuals who want to start an online business in 2019 can provide web
designing services online to various customers. There are many businesses who
want their own website and for that, they need the help of an expert web
designer who can design their website which does not only look professional but
also have the potential to generate a significant amount of web traffic.
Therefore there is a huge potential that the online web designing business can
generate a significant amount of profit. To various customers, the induvial can
provide customized services according to the needs & preferences of the
client. In simple words, web designing service as an online business would be a
great idea.
SEO
Services in Online business
For
starting an online business in 2019 SEO services might be a good idea because
today many businesses want their website on the top when the people search on
the search engine. There is a huge trend of SEO service online and for beginners
choosing SEO as an online business would be a rational decision. The major
advantage of providing online SEO services is that the cost of the whole
business will be reduced because there will be no need to set up a whole office
to provide the services. In order to attract clients, the individual can
provide their services on competitive prices.
Online Purchasing Stores
The
online stores are among the most common type of online business. There are many
companies who have adopted this business model for providing their product
& services to the people. The example of online Stores includes Amazon and
eBay etc. There are many customers today who wants to purchase goods online
because of it was more convenient than to purchase the goods from the market.
The payment methods such as cash on delivery have also increased the confidence
of the customers. With the passage of time, the online retaining is increasing
day by day and more customers are moving toward online shopping. So by keeping
the growing trend o0g online retaining in mind, it can be said that online
shopping website would be a great idea as an online business in 2019 for
beginners.
Software Developer for Online
business
Today
the technology is becoming advance day by day it means that new technology is
coming rapidly in the market like never before. For performing various business
activities today there is software which helps the employees in the business to
perform the task efficiently. So by keeping the rising demand of software in
mind, the individuals who want to start an online business in 2019 can provide
software to various organizations or businesses. The individuals will have the
opportunity to realize the needs 7 preferences of the businesses and then
create the software that will help them to achieve their goal.
Online Financial consultancy services
Many
organizations today want to manage their financial activities more efficiently.
The organizations always concern about their expenses & profits because it
has a huge impact on their decision-making process. Many businesses have also
outsources their financial management activities to those organizations who can
manage the financial activities far better than themselves. Therefore the
beginners can start an online business of providing financial consultancy to
the businesses. They can tell the business regarding the rules &
regulations of financial management and how they can better manage their
financials. In other words, the financial consultancy business has the
potential to generate a significant amount of profit. The beginners should
create a website that is not only is friendly but also look professional.
Online Advertising Services
Every
business who operates in the world advertises their product & services so
that the customers can get awareness about their product & services.
Without advertisement, the business cannot achieve success because the business
will unable to attract the customers toward its product. So it can be said that
the demand for advertisement never comes low. The beginners who want to start
an online business can choose advertising services online because there is a
huge potential for business growth. The demand for advertisement will won't
experience a major decline because different businesses need advertisement from
time to time. So providing advertisement services online will guarantee profit
if all the other things won’t impact on the business environment.
Social Media Marketing Online Services
After
the rise of the social media websites, many businesses have selected social
media sites for marketing purposes. Different businesses advertise their
product & services on social media because not only the social media is a
less expensive way of marketing the goods but also through social media sites
the business can reach a huge amount of customers which is not possible through
another medium of advertisements. So by providing social media marketing
services online, the business has the opportunity to achieve its primary goal
that is to earn a profit.
Blogging Online business
Blogging
is another way through which the individuals can start up an online business in
2019. The bloggers usually provide a variety of information to different
people. He bloggers can create a partnership with different businesses online
and can provide information about their products & services in the blog.
Through this, the bloggers can generate a significant amount of earning. By
writing a blog in an interesting way and using such terms which attract the
customers toward certain products can help the blogger to achieve success in
the market. Therefore blogging can be said a good approach for earning money.
Advantages of Online Businesses
The
online businesses are gaining popularity as the technology is becoming more
advance day by day. Today the customers do not have much time to go ta a
certain place to get the product or service. It not only takes time but also
causes inconvenience to a lot of people. The online business allows people to
get their product on their doorstep without any major problem or time
consumption. The following are some of the key advantages of onki9ne business
in 2019 for beginners:
Easy Adaptability to trends of Online
business
One
of the major advantages of online business is that it can adapt to market
trends more easily than the business who follow brick & mortar model. The
online businesses do not have to make major changes in offices or have to
change their whole setup to adapt to the latest trend. Therefore it can be said
that the online business is more adaptable to change than the traditional
businesses. It means that the opportunities which the online businesses have
are endless. There is a need to realize the opportunities which exist in the
market to take advantage of them.
Lower Costs of Online business
The
online businesses does not have to experience certain costs which the
traditional businesses experience. Many online stores who provide services online
does not have physical stores. It means that the costs related to physical
stores will be saved. The cost which the online businesses save allow the
business to provide the products to the customers on affordable prices. It
means that through this not only the business has the opportunity to increase
its revenue but also the business can create goodwill which will help the
business to grow in future.
Availability of Huge amount of data Online
business
The
data regarding the customers who shop online is available in abundance. It
means that the individuals who want to run online business can get the
information about various types of customers easily. Through analyzing the
needs & preferences of the customers the business can provide better
customer services to its customers. Moreover the needs & preferences of the
customers will be fulfilled more efficiently. In traditional business model
gathering data of the customer is a bit hard than the online businesses. The online
businesses have the data regarding their customers & what they preferring
in recent years.
Customization of Online business
The
online businesses can provide customize services to their customers more efficiently
than the traditional businesses. For instance a person went to the store to purchase
a certain product. Upon reaching to the store the customer realize that the
product which it wants to purchase is not available due to out of stock.
However this will not be the case when an individual purchase a product online
because the individual know that the product which he/she has ordered will
going to be delivered to them. Although it takes some time to deliver the
product to the customer but the product is according to the order of the
customer.
Convenience for Customers of Online
business
The
online shopping website or other services providers provide convenience to
their customers. For instance the online retail websites provides ordered
products of their customers direct on their door steps. It means that the
individuals will not have to go to certain shops to purchase the goods. Not
only the time of the customers have been saved also the product is delivered on
time which increases the overall customer satisfaction. The problems or inconvenience which the
customers face during traditional shopping approaches can be mitigated through
online businesses therefore convenience of the customers is among the major
advantages of online businesses.
Customer Satisfaction of Online
business
The
main aim of every business is to increase the satisfaction of its customers.
The businesses today highly focuses on customer satisfaction because they know
that if the customers preferences are going to be fulfilled than the business
will have the chance to generate significant amount of revenue. The online
websites usually provide products or services on low prices through which the customers
can take more benefit than the traditional shopping approach. Moreover the
online businesses provide special discounts on different occasions which
further increase the overall benefit of the product & service.
Global Access of Online business
The
businesses that are online can access to their business from anywhere around
the world. The online businesses owners do not have to go to a physical
location specially to operate their business. Many businesses operations can be
handle online which means the owner of the business and its team can run the
business online efficiently from anywhere. Through this the business operations
never stop and the business does not have to stop its operations due to any
natural disaster or other catastrophic event. In short, it is another advantage
which the online businesses avail.
Less operational Complexities of Online
business
The
operational complexities of the traditional business approaches are way complex
than the online business. In online business, many business activities reduce
because the online business owners have the option to not create a physical
office for providing the services or product. Most of the activities of online
businesses are carried online and this saves a lot of cost. The online websites
usually provide products or services at low prices through which the customers
can take more benefit than the traditional shopping approach. Moreover, online
businesses provide special discounts on different occasions which further
increase the overall benefit of the product & service.
Disadvantages of Online Businesses
Online service providers
and online business have a virtual team that works together with the business
model. On their own line the business can be improved by digital marketing,
social media help, marketing services and graphic designing (Smallbiztrends. com, 2018). The job of
freelancers and online businesses required the less coaching analysis of the
market and it can produce a quality product for the client in respective time.
Besides advantages, there are some disadvantages of online businesses
particularly effective communication is not provided in the digital marketing
system (Cornell, 2016). Online business
operations are not all smooth sailing. It is a fact that 90% of the online
business fails in the first 120 days it is a distinct disadvantage of online
business. The chances of Survival can be increased by knowing all about
addressing and mitigation of the challenges (Cornell, 2016). Some of the issues and disadvantages
of online business are listed below
Lack of credibility of Online business
The
brick and mortar companies easily develop the trust level of the customers
about the product and services. The main advantages are that such kind of fumes
and organizations can invest money on the setup of stores and build the
infrastructure (Milesbeckler. com, 2018). Since the barrier is low, in case of brick
and mortar companies, therefore they can invest and achieve a higher level of
credibility from the customers. Many online businesses face challenges
especially small business at the building level. Lack of credibility is the
disadvantage of online business (Wakeling, 2019).
Customer service challenges of Online
business
The
sometimes online business successfully gained a high reputation for excellent
services. For instance, Zappos face challenges due to the lack of face to face
interaction with their customers. Sometimes customers prefer to visit the shop
and speak with the service provider and to get a personal appointment with the
service providers (Wakeling, 2019). Online business does not have such
type of capability and resources of face to face meeting with the customer and
service provider. The only sources of conversation between the customers and
service providers are telephone lines, chats support, and resorting email (Smallbiztrends. com, 2018).
Market saturation and situation of Online
business
The
online company faces the highest number of challenges and competitors across
the world. An offline business faces
lower challenges at a regional basis while online business faces pressure challenges
across the world (Smallbiztrends. com, 2018). The level of
saturation in different areas makes it difficult to win the Marketplace
penetration. In case of offline and physical stores, the simple business
schedule is followed by the service providers and customers know about their
working or and service providing time (Wakeling, 2019). While on the other hand, the online
businesses on the internet operate for 24 by 7 hours. It means that online
business remains open all the time that could lead to distractions and drop the
productivity of the business (Corrigan, 2019).
Customer service of Online business
Most of
the online business provides instituted web chatting feature to answer the
questions of customers. Mostly the customer services are provided by email and
phone. This process can be effective for customer inquiries and to accomplish
complete knowledge about the items in front of customers, but it does not
provide face to face communication (Milesbeckler. com, 2018). The physical stores
provide business with the client details and dealing with the clients according
to their requirements. It can be demonstrated that the product of offline
storage works more as compared to all online stores. It is easy to troubleshoot
the issues of product and explain their actions (Smallbiztrends. com, 2018). The physical
presence of staff members can impress the purchaser and it's from to share
higher positive experiences with the other customers. Sometimes purchases
simply preferred direct conversation before purchasing any goods this feature
is not provided by online service providers. Most often customers have to
struggle for developing a meaningful relationship between the purchaser and the
online business (Corrigan, 2019).
Internet connectivity of Online
business
In the
case of low internet connectivity, customers can lose a lot of time and money.
Sometimes the website goes down and it requires a lot of time to come with the
original functions and operations. The issues with the Internet and web site
can cause potential disadvantages and customers avoid purchasing goods from
online services (Corrigan, 2019).
Conclusion on Online business
It
is concluded that one of the major advantages of online business is that it can
adapt to market trends more easily than the business who follow brick &
mortar model. Online businesses do not have to make major changes in offices or
have to change their whole setup to adapt to the latest trend. Therefore it can
be said that the online business is more adaptable to change than the
traditional businesses. There are tons of online business ideas for beginners.
The beginners should select such a business idea which they think can pull off
easily and have the potential to generate a significant amount of profit.
Before starting the online business it would be great if the market research is
performed to identify the latest trends and what the customers are looking for.
References of Online business
Cornell, S. (2016). The Disadvantages of Online
Businesses. Retrieved from itstillworks.com: https://itstillworks.com/disadvantages-online-businesses-
1644.html
Corrigan, K. (2019, 04 10). The Ultimate List of The Most
Popular Online Business Ideas. Retrieved from www.oberlo.com:
https://www.oberlo.com/blog/online-business-ideas
Milesbeckler. com. (2018, 11 28). Top 10 Online Business
Ideas To Start In 2019 For Beginners. Retrieved from www.milesbeckler.com:
https://www.milesbeckler.com/top-10-online-business-to-start-2019/
Smallbiztrends. com. (2018, 12 28). Fascinating Pros and
Cons to an Online Business You MUST Know for Success. Retrieved from
/smallbiztrends.com:
https://smallbiztrends.com/2018/07/ecommerce-advantages-and-disadvantages.html
Wakeling, B. (2019, 01 25). Advantages & Disadvantages
of Online Businesses. Retrieved from bizfluent.com:
https://bizfluent.com/info-8232765-advantages-
disadvantages-online-businesses.html