10 Advantages of Internet Business

Despite all these advantages, an internet businessman must still be very patient. He must understand that with the ease and comfort comes intense competition.

The internet is, without doubt, the greatest technological breakthrough that mankind has ever seen in the last couple of decades. With the internet, we are able to speed up communication significantly that we have nearly rendered the old mailing procedures as obsolete.

Another interesting benefit that we have got from the internet is the fact that every single individual has an equal standing online. This, of course, is in reference to business. The internet has basically transformed the entire business arena into something that even those with little financial prowess can take part and dominate. Aside from these, there are a whole bunch of other advantages of the internet in relation to business and entrepreneurship. Here are some advantages:

The customer base

The internet has virtually made the world a smaller place. With it, internet business advertisements can be seen by billions at any given time. Of course, this would translate to buyers, clients, partners, and customers.

24-hour service

The internet never shuts down; the website coordinators do, but their apps are always awake ready to accept orders.


With the internet, you will be able to create reliable links with people all over the world. You can have business partners who can help you out at any given time.


The cost of putting advertisements online is the prime reason why the internet business has become tremendously popular in the last couple of years. Internet Businesses with small capital can put their ads online and they can still expect billions to see it. Indeed, putting an online store will only cost several dollars annually.


There are hundreds of applications and software that make selling and advertising fairly simple. You do not need to hire a specialist to be able to sell products. As a matter of fact, you can work alone and still manage to sell.

Low maintenance cost

If you create your own store, you will be spending a lot just to build your store. Add to that, you still need to pay internet, electricity, and water bills. The same cannot be said of an online store.

Easy decision making

Another interesting advantage of the internet business is that you can afford to switch focus. In other words, you can sell decors today, and you can sell packaging supplies tomorrow. You can do this with relative ease and at no cost.

Passive income

Passive income means you earn money while you sit idle. Some websites who are accessed by thousands of people every day earn a lot of money; and they are not even doing anything.

Choose your market

It is easy to choose which group of people to whom you will sell your market. Indeed, if you decide to target another audience, you can do so easily. There are a lot of social networking sites which would allow you to reach out to as many customers as you may like.


Basically, the internet was solely responsible for creating a global community. With a single click of the mouse, you will be able to sell products to millions of individuals as though they are with you.

Despite all these advantages, an internet businessman must still be very patient. He must understand that with the ease and comfort comes intense competition. Indeed, if you do not work hard enough, you will be outmatched by the others, and your business will die.

10 Advantages of Franchising

Franchising has been an important step that is being considered by many business enthusiasts all throughout the world.

Franchising has been an important step that is being considered by many business enthusiasts all throughout the world. In this article, we will discuss the many reasons why people consider having their own franchise.

Higher success rate and lower cost

An advantage of franchising is there is a higher success rate. There is also lower cost associated with franchising. The lower cost is due to the fact that you can buy things from the other stores in your franchise chain. The higher rate of success is due to the chain’s already successful nature. When you come in on the bottom of an already successful business, you can shoot straight to the top along with the rest of the franchise. Franchising is how you would start a business with a safety net. The safety net comes into play when the other stores come to your help with the business.

Chance to start your own business with hands on training and moral support

Franchising is your chance to start your own business. From the other stores you get hands on training in the way things work and how things are done. The other employees at the other stores in your franchise, provide moral support to you as you embark on this new journey. Starting a new business requires lots of moral support. The other stores will provide the training and the moral support that you need to get off your feet. Getting off to a good start is what you want to do and the other stores will get you there. By helping you out, they help themselves also because with your success , their success grows too.Coffee, coin, digital

A tried and tested formula for success that reduces risk factors

You get the other franchise’s business knowledge about formulas that have succeeded and those that have failed. By getting their tried and tested formula, you reduce risk factors for your growing business. This is because you already know the formula works. The way you will learn how to run your business is the way that works for others, so no reason to believe it will not work for you. So you need to work hard at making it work for you too. When you reduce risk factors, you make more profit because you don’t fail. It is harder to fail, when you part of a franchise because of all the help you can get from the other businesses.

You get confidence in your products

You gain confidence in your products because, once again, you know they sell already. A little confidence in your products, goes a long way to success. Your marketing goes to a national level because of all the other business in the franchise. This ensures that your business gets the attention you need to get off to a good start. For your business to gain attention, you need to have a little help. Once your business gains attention, your business gets more and more attention which keeps growing stronger and stronger. Soon your business will be a force to recon with. The business you are growing will be huge, if you only allow for your own success.

10 Advantages and Disadvantages of Working for Family

Read along with this article and determine the drawbacks and benefits of working for family business.

For some people, a family business is the best type of business to establish. On the contrary, a family-owned company is just similar to any other business. It also has a fair share of advantages and disadvantages. Read along with this article and determine the drawbacks and benefits of working for family business.

The advantages of Working For Family:

Solid trust

If you’re working for a family business, you no longer have to worry about trust issues. Unlike being an employee of another company, you still have to exert extra effort to gain your boss’s trust.Person in black long sleeve shirt holding persons hand

Tax advantages

Working for a family business will also spare you from various tax concerns. Oftentimes, tax payments are reduced if a company is owned and run by a family.

Name and reputation

If your business already has a good track record, you will surely be extra proud of your surname. You haven’t exerted any effort yet, but you already carry a surname full of positive feedback. Working in your family company will further increase that reputation.

Less pressure

Try to imagine a business with no problems regarding shares and dividends. That is quite possible if you’re working for your family business. You can easily re-invest your cash from your own business when the going gets tough.

Less training time

The best advantage would be less time for training. Unlike other businesses, working in a family-run company doesn’t require you to undergo training.

The drawbacks of Working for Family:


Because it is a family business, expect you to deal with jealousy from other employees. Other family members and relatives may also be jealous, especially regarding promotions and salary increases. This is hard to avoid when running a family business.Man, face, grim

Sudden loss

According to experts, it’s easier for a family member to steal from their own company; rather than an employee to steal from a company he doesn’t own. This is because family-run companies are overstuffed with trust that they don’t keep a close eye on financial status.

Personal problems

Your niece, the Head Supervisor of the marketing division, might be dealing with marital problems. And her coming to work with that aura indeed affects her decision-making ability. Long story short, your company is in jeopardy.


Because this is a family business, being promoted is not difficult. However, in some cases, family members tend to be promoted despite their incompetency. If you know you’re not ready for the position, declining any promotions is wise; otherwise, suffer the consequences.

Invisible rules

Family-owned companies are also prone to rules and regulation concerns. No matter what type of rules you put up, if other members are stubborn, those rules will be useless. That is why you must be extra firm when creating new regulations for your business.

It is a fact that working in a family-owned business is easier than applying to another company. However, you should also take into consideration the drawbacks that are entailed. Be sure to weigh things carefully before making your final decision.

What is Passive Income?

Recently a friend of mine told me that she believed that the term “passive income” is the most over-used and misused in personal investing. From what she told me, a lot of people she meets are working on producing “passive income” streams even if they are not.

The fundamental source of her frustration was that people had confused the term passive income with streams of income.  For example, someone who owns a business on the side, which requires some time and attention does not have a passive income stream. They have another source of income- it is a big difference.

Her challenge to me (and, by extension, the readers) was to list valid sources of passive income.

Passive income, as the term indicates, is income you make without doing anything other than owing the cash flow stream itself.  For example, dividend income is truly passive income- you receive a dividend cheque every quarter for evidence of ownership. An inheritance or a trust for your benefit, which pays you money on an interim basis for the rest of your life, is passive income (if only we were so lucky).

In these examples, you sit back, and money comes to you. However, what about the grey zones?

Here is my take on what is and isn’t passive income for streams of income that fall in the grey zones- feel free to add your 2 cents since this list falls in the mushy middle of what is or isn’t passive income:

Real Estate Investing:

If you own and manage investment real estate, you don’t have a passive income stream. You have an alternative source of income. What part of fixing the toilet, collecting rent cheques, advertising to fill rental vacancies and to hire trades is passive?

However, this is where I will make the distinction. If you own commercial investment properties and hire a property manager, depending on how involved you are, it is passive income. Business premises and residential rental units with property managers are most likely professionally managed. A commercial lease downloads almost all of the responsibility of managing the premise to the tenant other than significant repairs and common area maintenance, which is carried out by professional property managers. Thus, substantially all of the income flowing from these types of real estate investments are passive.

Granted, there are some minor responsibilities the property manager cannot do for you, such as renewing the mortgage, but this is some work spread out over time. What I would suggest is that real estate is a more natural way to make income given you don’t have to be there for 9-5, but for most self-managed real estate investments, it is not passive income.


If you sell a license or franchise your business, it is only passive income if you have no obligation to the licensee or franchisee afterward. For example, you license software with no obligation to provide patches or upgrades. Franchising cannot be considered a passive income stream- the franchise has obligations to provide sales/marketing and administrative support. The franchise is a great revenue source because someone else is paying you for copying your homework (sort of speak), but I would not define it as a passive income source.


“Infopreneurship” is a relatively new term to the business lexicon. It refers to the selling of information, whether through seminars, training modules, or blogs. Its the new economy’s version of traditional publishing. This is where things get really murky. Infopreneurship, which involves the constant updating of information from the owner-manager (i.e., a blog), is not passive income.

An aggregator site that publishes articles from other sources is passive income only if a program has been devised to find the articles and post them-but it is only passive income after a lot of work has been putting into setting up the program.

Despite the thousands of dollars, Google can pay to a site; sites need constant updating, so it cannot be strictly defined as passive income.  However, if you develop a training module, seminar, e-book that can be sold many times over via e-commerce, it is passive income because you don’t have to do anything to get a sale- but again, it comes with the same limitation that you had to put a lot of work in beforehand.

These are just my opinions. It is definitive by any stretch of the definition. Let me know what you think about what real passive income is.