What’s the Difference Between Starting a Small Business and a Virtual Business?
Another question I get all the time is “What’s the Difference between Starting a Small Business and a Virtual Business?"
The answer is starting a small business requires a large initial investment. For a virtual business all you need is a computer and internet access.
The main reason small businesses requires a large initial investment is because they need items such as desks, furniture, equipment, supplies, phones, credit card processing machines, long term leases, employees, utility deposits, filing cabinets, space for supplies, printing and copying, faxing , paper, toner, storage, payroll taxes, employee benefits and on and on and on.
It is expensive, cumbersome and time consuming to build and maintain a business with a physical setting. Most people who start a brick-and-mortar business need financial backing, either by selling equity to a partner or borrowing funds themselves.
On the other hand, to start a virtual business all you need is a computer and internet access. By creating a virtual business, you can create a professional image. You can operate effectively and efficiently. Most importantly, because the overhead expenses are so low and you do not have the large initial investment; with a virtual business, you will be able to be profitably sooner than your typical brick-and-mortar business.
The benefits of starting, managing and growing a virtual business are endless:
1. You can launch an entire business with little to no money
2. You can convert your brick and mortar into a virtual business and reduce your costs massively. In my case I went from about $25,000 in back office expenses per month, to about $600.
3. You can work from the comfort of your home. I went from working 60-70 hours a week in my physical business, to about 2-hours a day managing my virtual business.
4. You can manage your virtual business remotely. I missed so many field trips! Now, I volunteer at my kid's school
5. You can have employees scattered all over the world. You can find the best of the best and they don't have to live in your town
6. You can digitize and automate. This allows you to build processes and systems at very little cost
7. You can hire virtual assistants and not have to deal with the daily business minutia
By taking your company virtual or starting up a virtual business, you can grow your company as big as you want to. You don’t even need a physical location. In today’s new economy, more and more big corporations are downsizing their workforce to work from home. Having an office in a major corporate park, or a major city is totally and completely irrelevant!
You can see an example of a real sustainable, successful virtual business (100% virtual and paperless) at groupbenefitagency.com
Anyone can start a virtual business in minutes! You don’t need major start up capital. You don’t need investors. You don’t need to risk months or years trying to break even. You don’t even have to gamble your savings.
Visit Virtual Business Dashboard to get the “20 Insider Secrets for Starting Your Own Virtual Business on a Shoestring” and a video of “The Best Business to Start in This New Economy”
Just visit Virtual Business Dashboard