The internet is a powerful tool for small businesses, removing the barrier-to-entry for many entrepreneurs. Where challenges like limited capital, lack of knowledge and experience, and physical limitations had a huge impact on the success of a business in decades past, they are much easier to overcome in the digital age.
So how exactly has the internet made it easier to own a small business? Here are seven ways widespread access to the web has changed how businesses are created, run, and grown.
Table of Contents
1. Increased Efficiency
One of the most important ways to save money is to increase efficiency. Luckily, the internet had made running your business more efficient than ever with software for almost any aspect of your operations. For instance, handling your finances can be one of the most time-consuming aspects of business ownership. Fortunately, online bookkeeping services are now available. These applications help you track and manage your finances for streamlined bookkeeping that has less room for error.
2. Affordable & Accessible Marketing
In the dark ages before the internet, many small businesses did not have the resources to compete with bigger businesses because they did not have the capital to pay for traditional marketing. Roadside billboards, radio and TV advertising spots, and even direct mail were costly initiatives that acted as a barrier for many. With the boom of search engines and social media, digital marketing has become accessible to nearly everyone, no matter how tight their budget. Social media marketing, Google Ads, and other marketing opportunities make it easier for your customers to find you, allowing your business to grow with less effort on your end.
Using advertising to build your business is one of the best ways to find clients for your small business so use these online avenues to your advantage.
3. Timely Communication with Customers
The customer experience is one of the most important aspects of your business. With platforms like Yelp, email, and your business’s social media pages, you can stay in touch with customers consistently and respond to their questions or concerns in real-time.
Applications like Skype also make it easier to communicate with clients and business associates.
4. No Need for Brick and Mortar
Rent can be a killer for small businesses, especially in big cities and up-and-coming areas. The internet has made owning a digital shop an easy, more affordable alternative. In fact, you can completely cut rent out of your budget if you run your business completely online. Depending on the type of business you have, you may still need to use a warehouse or storage space for inventory.
5. Serve Customers All over the World
The introduction of e-commerce has changed the landscape of business sales. By having all of your products available online, customers from all over the world can shop with you. More customers means you can sell more of your services or merchandise. In addition to the development of online stores, online marketplaces facilitate sales between merchants and customers. So even if your business is just starting out, you have a place to sell your offerings at a much lower cost to you.
6. Easily Expand Your Skill Set
From YouTube videos and blogs to online academies, learning new skills to better manage your small business is as simple as sitting down and pressing play. You’d be surprised how many programs, laws, and concepts you need to understand to be a successful small business owner.
Luckily there are classes and tutorials for virtually any question you might have or skill you need to learn. From software to leadership and marketing, you can easily access the material you need. Often, they’re even free of charge.
7. Connect with Experts
Need help revamping your website or running your social media accounts? Find reliable experts online who can help you with whatever you need. There are sites specifically designed to connect professionals across different industries so you can enlist their services. Talented designers, writers, and web developers often work freelance and are the perfect resource for small businesses. In addition to creative services, you can also get help with business planning, product research, and other key aspects of your business’ success.
Starting or trying to grow your business might seem like the biggest challenge you will ever face, but there are unlimited tools, resources, and talent at your fingertips with the help of the internet. In fact, reaching the next level of success is just a search away.
About Carson Derrow
