Time Demand
The ultimate promise of online business is freedom from the 9-5: Time Freedom. However, if the business you operate still requires a full time effort in order to achieve a sustainable income, then all you have done is swapped out your location. It is still a job.
On the other hand, if your online business delivers 4-4 (4 hours, 4 days a week) you have hit the proverbial jack pot! Time freed up from work, with a sustainable income.
Time is the ultimate commodity. Money you can always get more of. But we all have only a fixed amount of time. On a daily basis that is 24 hours. We don’t get any of it back, once it is gone. Every moment matters.
Wouldn’t you rather be spending that precious resource with family and friends, doing things you want to do, helping others, rather than working? 4 hours a day is enough for work, yes?
Location
Well this is an advantage uniform across the online space: you can conduct your business from anywhere, with a limited amount of technology (typically phone and/or laptop), with adequate signal.
Market
Again, this tends to be uniform across the online space, in that the world is your market. However, there are some business variations for which the market is local, so this is the one last consideration. A local market is fixed, the world market is almost unlimited.
So there you have it: some of the factors to weigh in considering an online business.
Up next….our PDF quick summary chart of these factors.
