What Are The Challenges an Online Business Might Face?

[Spencer]

If you're running an online business, what are the challenges you will likely face in the course of running your business?

1) Costs: You will have to pay for almost everything and even though the starting costs might be low, you will ultimately have to pay to get it up and running, could be domain and hosting, paying a web developer or an e-commerce solution etc.

2) Competition: Since you're an online business, you're competing with basically any business in your niche and dealing with competitors that has a higher budget than you can be soul crushing and can lower your profit margin.

 

[Mika]

Cost is not a big deal for online business. It does not cost a lot of money. Even if you hire a developer to design the site and buy products to stock up your inventory, you can be able to build a decent business with a couple of thousands, however, the biggest challenge is generating sales. With online business, the only way to generate sales is through SEO and digital marketing and both of these methods are highly competitive and takes a long time to convert.