Misconception About Online Business

[Spencer]

An online business is basically no different from offline business and the only difference is the method of delivery, this is because most people have the misconception that an online business is easy, and you don't have to put in effort like other types of business.

A online business is even more competitive because in it's case you're competing not just with with your local environment, you are technically competing with everyone offering such service, hence competition is stiff, anyone that wants to start an online business should not adopt such mindset because it will be easy to give up when things gets tough .

 

[Mika]

To tell you the truth, I do not see any difference between online business and offline business, the difference is all about how you sell. Well, all businesses have their own peculiar characteristics but broadly speaking, they are same. For instance, a clothing store and shoe store are practically same but these are also different business s they utilize different tactics to sell. Therefore, despite being almost identical, you need different kill set to operate these businesses.

 

[Spencer]

I'm saying it's easier to dominate in an offline setting than online, most online business fail and they started out with lofty dreams of making profits and growing, but due to the amount of money it costs to just advertise most of them fold in no time, in an offline business, you just need a busy location to get started, foot traffic is enough.

But for online business, you'll have to buy media and the margins might not be encouraging, I think it all boils down to your capital and also your skill set, but on the same level playing field, offline business can do whole lot more better.