In my latest post, How to make a plan to achieve financial freedom, part 3, I recommend that we should start a business or build up some kind of income source to make excessive cash. This is because we need excessive cash to support our life and invest to get more passive income in the journey to financial freedom.

When comes to business, I will recommend you to start an Internet business. Currently I’m running 2 kind of business, one is online and another is offline. So from my experience, I can tell you that I will definitely choose internet business as my main business. Below are the 8 reasons why I say so:

Reason #1 : The Potential of Internet Business

Does Internet Business have a greater potential than other small business? Not really. This has to depend on a lot of factors and vectors around. However, Internet business still has its own greatest potential. A recent report by Forrester Research shows that online spending will grow up to $229 Billion Dollars by 2008. So can you imagine what it would be if you can share 0.01% from this figure?

Reason #2 : The Leverage of Currencies Exchange

US dollar is the most common currency used in Internet Transaction. So the money you make from your internet business is in US dollar too. This actually a great leverage to those people from other country. For example, I’m coming from Malaysia and 1 US dollar equals to 3.4 Ringgit Malaysia. So for every dollar I make, I will make 3 dollar in my country. With this leverage, my internet income can easily over pass the average income in my country.

Reason #3 : Low Start Up Costs

If you ever start a business before, you will know that starting a small business is quite expensive. However, Internet business is different. You don’t need to rent any office space. You don’t need any office furniture or hire half a dozen workers. There will be no salaries to pay and no labor insurance to worry. All you need is a computer that can online to run your online business. Maybe you need to spend another $50 per month to get your own domain name, web hosting or do some marketing for your site.

Reason #4 : Good Profit Margin

Most Internet businesses have high profit margins due to the low direct cost of sales. Let’s take the ebook business as the example. You don’t need any cost for stocking and delivering for your ebook. Like what I said just now, you just need a web hosting that cost you less than $100 per month. You may also need to pay a fairly small percentage of sales revenue for payment processing fees. Generally, you will make a profit of 50-75% in selling an ebook. A traditional small business is really hard to get this level of profit percentage in the sales.

Reason #5 : Global Market

Your internet business is targeting on those internet users all over the world. You can easily target on customers in any country you choose to. This market is getting big as more and more people will online in future.

Reason #6 : Spend More Time in my Home With My Family

I like to stay at home. I love to spend time with my family. So an Internet business will be my choice. The basic requirements of an internet business are computer and internet cable. So I can easily setup an office in my house and I can start making money from my home. I don’t have to run around under the hot sun, get stuck in the traffic jam and wear those formal clothes. Every day I just open my PC, connect to internet and I can start my business. If I finish my works, I can hang around with my family and do whatever I want to. This kind of leisure time is what I want in my life.

Reason #7 : Take More and Longer Vacations

I like traveling and I wish to spend most of my time in this. Recently I bought my new laptop and my internet business becomes portable. I can easily handle all my internet business related tasks easily in anywhere and anytime. So with a laptop, I can travel more and in a longer time since I can handle my business in anywhere. This is some kind of freedom that is hardly available in other traditional businesses and jobs.

Reason #8 : I enjoy it

I enjoy myself in Internet business. First I don’t have to do all the physically hard works. All I have to do is sit in front of my laptop and keep my finger busy with typing. To me this is an easy job and I enjoy this every much. Maybe this is because I am introversive.

Are you making money from internet too? Can you tell me what is your main reason to start an internet business?

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