Hi and welcome to another Q&A post on Friday! Today’s question for this post is a little bit different from the last ones. This post is dedicated to a question that I received from Yolanda who lives in Hanoi, Vietnam. Yolanda asked me the following:
“I am enthusiastic about doing online business, I was wondering how your life changed once you started your online business?”
– Yolanda from Hanoi, Vietnam
First of all, thanks Yolanda for this awesome question. Online business has changed a lot of and my perspective of working, daily planning and activities and my life in general. I am very grateful for the opportunities that it provides to me and Teresa.
My days are more flexible
When I was still working in a normal job I was bound to the normal office hours and often a little bit longer, it was hard to make time to work on my projects. Now that I am working for myself I have the possibility to work when I want to work. Sometimes the weather is nice and Teresa and I decide to go for a swim, a normal job won’t provide me with this possibility. I mostly perceive this is a positive point, but sometimes it takes a lot of dedication and focus on staying on track with your goals.
I have more freedom
This also relates to the first point, since I started online businesses I feel I have a lot more freedom. I have the possibility to work and earn money, wherever and whenever I want. I could just as easily earn money in the Netherlands as I could on a beach in Thailand or now in Vietnam. Basically, the only thing I need is an internet connection and my laptop.
I am no longer paid for my time
When you work a normal job you are (in most cases) paid for the hours that you put in, and this is not directly related to the outcome you deliver. Days are often with corporate procedures, meetings and useless emails. I value my time and I prefer not to waste my time. Income that is solely based on the amount of hours that you work is always somewhat limited by a number of hours you dedicate to you work. With my online business, I can earn money literally when I am asleep or on a holiday, now that is interesting!
I am more creative
When I was still working my regular job before I was laid off, I often felt I lacked creativity. The daily grind that evolves around the office drained my motivation and my inner spark, I would find it significantly more difficult to come up or work on ideas. Now this is has changed and already the first days after we had left China for Vietnam, I could feel how much more creative and productive I was.
But that does not mean that there are no challenges
Still online business also comes with different challenges and struggles. When it is only you working on something it is a lot harder to stay motivated and clear on your goals. More freedom during the day is nice but you really have to make your business a priority or else you will fail. This will often result in long days, especially in the beginning when you are just starting out.
Online income means that you can earn at any time and that your income is not related to the time you put in, however, this does not mean it requires no time. Be prepared, especially in the beginning to work far longer hours for way less money compared to a regular job. I consider this to be an investment, most online business does not require any substantial financial investment, but time wise it could require a lot more.
Depending on the type of online business you have you should also be prepared to wait some time before you actual earn any money. Many online business models mean that you have to wait to be paid out, this can sometimes be as long as two months. Of course, there are ways to reduce this payment term by directly providing products or services through your personal website and payment handler.
Everything comes with certain trade-offs and what works best for you is personal. For me, the online business model comes with a lot of opportunities and it allowed me to change our lives for the better. Personally I do dedicate a lot of time to my growing my businesses and setting up projects for the future. For me, the online business model was a game changer and I believe that it can be for you too. Nothing comes for free, but for those willing to work hard a world of endless possibilities lies ahead of you.
So there you have it! What do you think and how did the online business model changed your life? As always I am interested in your comments and personal experiences. Feel free to contact me or leave me comment below if you have a question for next week’s Q&A!