The idea of starting a virtual business (vb) and enjoying many of the benefits of vb, is something that more and more people are being attracted to worldwide. There are a wide variety of reasons for this some of which include :
♦ Lack of local income opportunities
♦ Need for additional source of income
♦Inability to travel or commute
♦desire for greater income potential
♦desire to reduce cost and increase profits
These are just a few of the reasons why so many people are interested in exploring other, non-traditional ways of generating income. As a result vb.’s are becoming more of the norm nowadays rather than being looked at as the exception.
What Is A Virtual Business (VB) ?
Basically it is a business model that is setup to transact business electronically rather than in person. It does not require that you have a physical business location or that any physical interaction is needed to conduct business transactions.
However you can integrate it with the traditional business model to extend your market reach as well. An example of this would be if you had a local business where you provided a product or service that could also be provided globally.
By creating a virtual business and establishing an online presence through the use of a blog or website you would be effectively combining the two different business models to extend your market reach to a global level.
What Are Some Of The Different Virtual
Business Models And There Benefits
A vb can also be a smart and effective alternate business model for just about anyone who wants to start a business without using or following a traditional business model at all. Amazon.com is regarded as one of the most successful pioneers to demonstrate the validity of an ecommerce vb model.
However there are other very successful and profitable vb models as well such as:
♦ Blogging – This business model can be used to promote your own product or services as well as being combined with other monitization methods to earn income.
♦ Affiliate Marketing – This vb model is used as a way of earning income as a result of promoting and assisting in generating sales of other peoples products or services through a referral system.
♦ Cost Per Action (CPA) Marketing – This business model is very similar to the affiliate model however with cpa marketing a sell may not be the requirement that needs to be met in order to earn a commission. In many cases only a specific action needs to be taken by a prospect, such as providing contact information (name and email address ) or accepting a trial offer.
♦Informational (Adsense, etc) Marketing – Income can also be earned by developing an authoritative vb blog or website which gets a lot of daily traffic and monitizing that traffic through the use of advertiser ads like Adsense, Adbrite, Chikta, etc…
These are some of the ways that you can use the vb model to work for you. Now lets take a look at some of the benefits that this business model can provide you with.
Virtual Business Benefits For You
Virtual business (vb) benefits has something to offer to everyone, regardless of whether you are thinking about starting your first business or whether you currently have a traditional business and you are looking for a way to become more profitable.
1.) Quick Setup – With the right training and expertise anyone can have a vb up and running in as little as a few hours and in some cases even less than that. You basically have two different options which are
♦ do it yourself, which can be relatively quick and easy by following a few instructional videos or
♦ You can pay someone else to create a virtual business for you. This way you can have it done quickly and professionally.
2.) Low Startup Cost – In the past you would need to have an office or building in a major location with a staff, equipment and supplies to establish a professional image, which could cost you a small fortune.
With a virtual business, however you can create an online site and upload a professional picture which will give you that same professional image at a fraction of the cost.
3.) Low Barrier To Entry – In most cases starting or setting up a vb does not require any special government approval or licensing requirements, however it is always best to check for your specific location.
This means that in most cases anyone with a good idea, the willingness to learn and a good work ethic can be successful at creating and running their own virtual business.
4.) Work Location Flexibility – You can work from home, a local library or coffee shop if you like or if you are a freelancer and it is customary in your industry to have a business address on your business card then you may wish to invest in a virtual office for this purpose.
You can also include features such as administrative support so that prospects or customers can call in and speak with a live person or fax and receive bids, contracts or other types of documents.
You are even able to have a team environment where other members are located in different locations and you all will have a central place where all of your calls are routed to and handled.
5.) Increased Efficiency – Because you will not have to spend so much time dealing with things like getting dressed for work, commuting back and forth, parking, etc, etc… Or other non productive things that are associated with a traditional business environment, you will be able to focus more of your time, energy and efforts on the productive activities which allow you to grow your business and your income.
6.) Reduced overhead cost – Whether you choose to work from home or invest in a virtual office, you will not have to worry about the overhead cost associated with renting office space, hiring a full time staff, paying employee benefits, purchasing office equipment, office supplies, parking cost, etc, etc,,,
This cost savings will allow you to focus on other high priority things like hiring the best talent for your business or organizational needs.
7.) Outsourcing – You can hire someone on an as needed basis with the specific skill or ability to do an existing job or new and different things for you. This can eliminate the need for a full time employee and also allow you to keep current with new trends in technology and the marketplace.
8.) Size is not a constraint – Another one of the very helpful benefits of having a vb is that it does not matter how large an office space you do or do not have and it does not matter how many employee’s that you have on payroll.
You will often still compete with much larger businesses based on your ability to provide excellent customer service and deliver a high quality product or service, cost effectively to your customers.
9.) Reduced Travel Cost – In many cases travel can be completely eliminated as a result of creating a virtual business and working from home.
However if you needs do require that you have a business address then a virtual office may still be able to meet your needs while at the same time eliminating the need for excess daily commuting.
10.) Leverage – Because the internet is up and running 24 hours per day, 7 days a week, this will allow you to market and sell your products or services 24/7 as well.
This is a tremendous advantage for any business owner because it helps to reduce your staffing needs, your sites will do your selling for you on autopilot.
11.) Passive Income Streams – When done properly you can create online assets such as niche websites, email lists, ebooks, mobile games, mobile apps, etc, etc that can generate long term passive income for you.
This can happen as a direct result of you getting really good at being able to create real value for others in high demand markets.
These are some of the many different virtual business benefits that you can expect to enjoy as a result of using this non-traditional business model to be able to provide products or services to others.
Virtual business things that help
make running a vb easier include
These are a few of the things that can help you to run your virtual business more effectively whether you will be just getting started or even if you’ve already been using this business model to generate income.
♦ VB office – The main purpose and benefit of a virtual office is to provide you with a way to cost effectively create and run your business from where ever you are with how ever many people you need, regardless of their location in a professional (or appropriate) atmosphere.
♦ Virtual assistant – Once you have established multiple streams of passive income you may want to use the services of a virtual assistant who can work from a remote location to help you grow your business and take it to the next level.
♦ Portable laptop or tablet for your computing needs.
♦ Smartphone for checking email and using different apps
♦ Skype for worldwide communications.
♦ Online project management/collaboration program.
♦ File sharing platform such as dropbox which also provides an automatic file backup function.
Having a virtual business can allow you to focus on growing a successful and profitable business by keeping your business expenses low while at the same time, aggressively increasing your income through cost effective marketing.
By doing so this can make having a virtual business and its benefits work for you and your lifestyle preferences as well. >Continue Reading<☺