Ten years ago, it was inconceivable to most consumers that they could take a tour of the Parthenon from the comfort of their couch, have a high-quality selection of wine delivered to their home on a monthly basis, or use a mobile app to teach their children to multiply fractions. Yet today the landscape of nearly every sector in the business world is filled with virtual brands and companies competing with their brick-and-mortar counterparts.
A virtual business is one that conducts all (or nearly all) of its business via the internet, without any kind of central physical location. Virtual businesses can be easier to launch than traditional businesses, and do not have the kinds of startup costs that companies with physical offices or retail locations do.
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If you are thinking of starting a new business, should your startup be completely virtual? Let’s look at some of the benefits of running a virtual business.
Let’s be honest: online business models can never replace the entirety of in-person experiences. You can’t test ride a bike if you buy it online or drive through the surrounding neighborhood during a virtual real estate tour. But bringing your startup online can offer plenty of advantages to your customers.
The added convenience is obvious, but an online business comes with more flexibility—a simple tweak of your website and social media channels is all you need to alter the way the public sees your business. Virtual services are more personalized and customizable because they can gather users’ digital data in ways that offline relationships can’t. At the same time, a virtual business can feel less invasive because customers aren’t dealing with irritating in-person salespeople. And speaking of those customers …