Introduction

Our world is changing. And as technology and science continues to evolve at an ever increasing pace, so are the ways people are making money online from home.

In my view it's becoming increasingly important to find ways of creating additional income streams, not only to safeguard ourselves financially, but also to free ourselves from the restraints of the limited earning potential of a traditional job or business. So what are the best ways to make money from home, you may be wondering, as there are so many different ways that we can increase our earning potential.

In this post I'm going to focus on the reasons to start an online business and why this is my preferred method of adding an income stream to our lives.

It's never been easier to connect so widely and diversely around the world than now. It's also never been simpler to start up your own online business than now, and with minimal outlay or overheads. All that's needed is a computer and internet connection and there you have the basic tools to start your own business.

With the creation of the World Wide Web it's now possible to leverage our time, resources and money, enabling us to potentially scale our business to a level we want and more.

There are many reasons to start an online business, and many of these can be personal to each of us. That said we need to know WHY we would want to pursue this. It does take work, a willingness to learn, commitment and consistency, and your results will be a direct reflection of the work you put in. If you treat your online business like a business, you will see results.

Below is a list of some of the main reasons to start making money online.

1. Create additional income stream/s

Could you use additional money to help pay the bills and improve your living conditions? Starting an online business is a simple way to improve your financial situation - and also has the potential to exponentially increase your earning potential. Learning how to make money online can also lead to never having to work in a job again. Once you learn certain skills - which anyone who is willing can - then it's possible to create real financial security.

Traditional job security is no longer a given. Relying on an employer for financial security is becoming more and more risky considering the amount of companies going under and job losses that go with that. Learning the skills needed to succeed online is in my view, a far better investment nowadays than trying to climb the corporate ladder in order to improve your finances.

2. Low start-up cost

Compared to a traditional business, starting an online business can be really cheap. As an internet business owner your basic expenses will be a domain name, hosting account and internet.

Even additional business inventory outlay will be cheaper than that of a traditional business. The expenses of running a 'bricks and mortar' business - the actual space, physical inventory, stationery, wages, bills etc. is way more expensive that setting up an online business from home.

3. It's scalable

With an interned based business you can scale it as you like. You have the potential to progressively increase your earnings with relative ease.

With initial work and setting up the correct systems, aspects of your business can become automated, allowing you to keep in contact with a wide audience all at once.

There's no limit to how large you can potentially grow your business.

4. Be your own boss

Have you ever wanted to work for yourself and put your time and energy into creating the life and work that you really want and desire?

Starting an online business gives you the opportunity to do just that. Sure, in the beginning there will be a lot to do and learn, however in the medium and long term your hard work will pay off.

Starting an online business is not a short term strategy. You do need to be willing to do what it takes to succeed, and in the beginning it may be more than what you're comfortable with.

But if you're willing to learn, grow and evolve, then the rewards of having your own internet business can be great.

5. Open 24/7

That's right, with the internet your business never sleeps. And you can make money while you do; and while you're away and on holiday or travelling. Once you're set up, you don't necessarily need to be there all the time in order to make money.

This gives back a time freedom that's otherwise not available working in a traditional job or business.

6. Work where you want

If there's an internet connection, you can run your business - be it from home, the local coffee shop or even abroad.

This has become known as the lap-top lifestyle. You're not tied down to set hours or place of work.

7. Expanding global marketplace

Internet shopping is on the increase, and this is a growing trend.

• By 2024 it's predicted that more than 40% of retail sales will be done online. And with around 84% of internet users shopping online now, the potential to make money through an online business is massive.

• E-commerce is now a trillion dollar industry. That's multiple billions and growing - you too can have a slice of that.

8. More time for the things that matter

Working for someone or even owning your own brick and mortar business leaves little room for flexibility. You're expected to start and finish at certain times, working specific hours and a certain amount of days in the year.

Owning an online business lends to a lot of flexibility - and you can choose your hours of work to suit your needs. Once your online business is established it's also possible to do other things, like travel or get involved in full time volunteer or charity work - if you so desire.

I've met people with successful online businesses who give a lot of their time (and money) to humanitarian causes. Creating and developing a successful online business can bring the kind of financial and time freedom not available in a traditional job or business.

9. Make money doing what you love

It's quite possible to learn how to make a full time income by doing what you love.

That's right, there are ways to monetise your hobbies, passions and interests through staring your own online business.

Everyone has a unique set of interest, skills and knowledge. It's possible to identify these and offer solutions to other peoples problems. 

Sure, you will need to do some research to find out what is needed in the marketplace and how best you can serve those needs. 

A cautionary note…

You need to tend to your business. Starting your own business, being your own boss, choosing your own hours of work is great, but it does mean having to be disciplined in engaging with income producing activities. And these need to take priority when planning and managing your time.

When I first started out online I really struggled with this - it's so easy to get distracted or put things off for tomorrow... and before you know it, the day has passed with little accomplished. Over time I have persevered with developing and including regular income producing activities every day, and it's the accumulative effect of these activities that leads to success.

Starting an online business is a serious matter - it's a business and needs a certain commitment and discipline in order to become successful. It won't just happen on its own.