The fact that online presence helps in expanding the reach of a business by catering to a large number of audience can not be denied. An online business offers plethora of benefits in terms of better growth, brand image, conversion rate, sales, and most importantly, the ROI. However, most of the times, people have some inhibitions about giving an online identity to their business. The reason behind this is the common misconceptions about online business. It is because of these misconceptions that people hesitate from going for an online business. But what they do not realize is that by believing in these misconceptions they are doing much harm to their business and are losing out on much in terms of potential customers and sales.
It is important to have the right knowledge and awareness about what online business requires and constitute. At the same time, it is equally important to know about the common misconceptions in order to understand that they are nothing but mere ‘misconceptions’. If you do not try to get a clear understanding of these misconceptions, you are likely to get frustrated and this will eventually make your business suffer. So here is a list of some common misconceptions in online business.
1. An online business does not promise quality returns
One of the most prevalent misconceptions about an online business is that it does not promise quality or good returns. However, the fact is that an online business helps in boosting the performance of a business and expands its reach. This helps in generating quality returns in terms of potential customers, sales, and ROI. All that is required is to manage the online business with good efforts and in an organized manner. If you do that, good returns will surely pour in.
2. The success of an online business depends on the size of the business
Many a times people feel that the success of an online business depends on its size. That is, the bigger the business, the better are the chances of its success. But this is not completely true. A clothing business may need to have a bigger presence but it is not the same for other businesses. A medium sized book store can effectively run an online business and cater to more customers. It can generate more returns successfully by simply following the appropriate rules.
3. Huge discounts attract more customers
Another popular misconception is that by offering huge discounts, an online business can attract more customers. Many operate their online business believing in this misconception. This trick did work when Internet was a new technology, but in today’s time, it does not work that way. In fact, if you are a wholesale supplier and you offer big discounts, then it is likely to receive flak from retailers and they can even suspect you to be fake.
4. An online business is a get-rich-quickly way
Many people believe that an online business is a shortcut to get rich. They assume that by taking their business online, they will be able to earn big bucks without putting in any other efforts. An online business does promise great returns and many people have achieved a staggering success with their online business, but is in way should be considered as a get-rich-quick way. Managing an online business requires sincere efforts, well planned strategy, knowledge of marketing and a good website.
5. Only hard-selling is enough to make money
If you are one of those folks who are under the impression that only hard selling is enough to make money and will see you through, then you really need a reality check. An online business does require some aggressive and good hard selling to draw the attention of the targeted audience to your products, but hard selling is not the only thing. In fact, it is just a part of a big scheme of things. Besides hard selling, you will also have to put in sincere efforts to ensure that you connect to your targeted audience and build a good relationship with them. Winning your audience’s trust is also of paramount importance. It is imperative to accomplish all these things first in order to sell your products and services in an easy manner.
6. An online business is just a hobby
A large number of people still believe that online business is nothing more than a hobby. They think an online business is no serious stuff. Moreover, those who are new to the world of Internet have most of he times a lot of notions about online business just being a hobby. Although many people do online business simultaneously along with their regular jobs, but this does not mean that it is just a hobby and can not be considered as a serious business. If you treat it as serious business, you can certainly take it a long way and can reap maximum returns. But for this to be accomplished, a lot of efforts and time need to be put in. do this and you will find out how well paying an online business can be.
7. Website development requires a lot of capital investment
Even in today’s time there are many who believe that website development for online business requires a lot of capital investment. Well, this is the age of technology and the biggest advantage it offers is that you do not even need to be a techie or have knowledge of languages like HTML to develop your own website. Software like content management system have made it much easier to develop a website in no time. There are many content management system available and offer a lot of features.
Moreover, many are open source which means that you do not have to pay anything. Just download and start working on developing your own website. Thus you do not have to spend anything to hire a professional developer to get a website for your business. These CMS let you have full control over how your website will look.
8. Managing an online business site is a hectic task
If you think that managing an online business is a hectic task, then you better go find out what a CMS is. Some years back, it indeed was a cumbersome and hectic task to manage, edit or update a website.
One had to hire a professional developer even if one needed to make a minor change or update to the site. This is because HTML code is too tough and can not be handled by everyone. But with the advent of CMS, one no longer has to rely on professional developers to make changes, or update the site. A CMS lets you manage the site with super ease.
These are some of the common misconceptions that can bring trouble if you do not enlighten yourself. Before beginning your journey as an online business owner, you must make sure that you fully understand that all the above misconceptions are only misconceptions. This will help you in running your online business in a very effective manner.