How are these 15 years old becoming millionaires?

This is the most common question people in their late 30s or 40s ask sarcastically to each other.

Sixteen years of education, yet we struggle to get as much profit as possible. Whereas, you see 17 years old holding the latest version of the iPhone, that too of their own money.

Where is the money coming from?

Well, 60% of teenagers now prefer being an entrepreneur rather than being an employee. Due to this evolved mindset, many youngsters have started using social media for their business as it helps them earn the amount beyond their expectations.

If you are still using traditional business methods, you might have come across this advice “digitalize your business.”

Ever wondered about the difference between digital business and business? Well, the difference is the same as between Fax and Email or online shopping and in-store shopping.

Here is how.

Difference between business and digital business

Suppose you make keychains; how do you plan on selling them?

Will you set up a stall on campus? Or, will you walk door to door, knock and ask them to support your business? If you have planned this, will you market your product? Distributing pamphlets, promotional cards, or announcing discounted rates?

How about we tell you that a single post will help you reach millions in a fraction of a second? You can catch forty winks and wake up to thousands of DMs of potential consumers. Tell us which way is better.

OR LET US GIVE YOU ANOTHER SITUATION

Emptying your pockets to print flyers or making a business account for free and reaching millions using hashtags? What will be your priority?

Teenagers nowadays utilize social media platforms and earn through clicks/views. On the other hand, people using traditional business methods have to make tons of efforts comparatively.

The main difference between traditional business and digital business is the way you sell your product.

Formation

Traditional business:

Suppose you’re good at organizing things, and now you want to sell stationery and organizing tools. If you want to do a traditional business, you will need a physical location first of all. To set up a proper shop, you will need some desks, shelves, chairs, registers to note down, and other important furniture. Besides that, a place to eat, cloth to clean, and much more. For all of this, you might need loans and heavy investments.

Digital Business:

Since 80% of us are on social media, establishing our own digital business will not be the bane of our life. All we need is creativity and the art of connectivity. Digital platforms are all about making connections; the more connections you have, the more potential consumers you’ll get.

Start with a page or business profile on social media platforms, create engaging content and post them online and sell your products sitting on your couch. All you need is a laptop and high-speed internet.

If you still wonder why is digital business important? Stay tuned

What Does Digital Business include?

You might be wondering that digital business only includes social media since we have discussed only one platform till now.

Let us tell you how many platforms you have to earn some errands

• Social media
• Knowledge platforms
• Service-oriented platforms
• Online retailing shops

Ever bought anything online? If yes, then you might know how effectively these platforms work. You might have bought the Nikes because Cristiano Ronaldo wears them, or you may have been influenced by the content written for the product. You have no idea how e-business tricks our minds and turns the butterfly consumers into paying customers.

Why Is Digital Business Important?

Digital business is fast and easy. Here is an example for you

Suppose you are a writer who provides dissertation writing services in UK.  

Traditional method:

If we talk about traditional methods when we were not blessed with Google, people used to flip through the books. Spending hours in the library & gather different pieces of information to write a properly formatted dissertation was like the bane of one’s life.

If you rely on traditional methods, being a service provider, you can only write one dissertation at one time. As you will need plenty of time to research and produce a handwritten document.

Digital method:

The digital method will allow you to do the same thing in less time and effort. You’ve Google to search for the topics now, you have MS Word to type the document, and the best thing is you can send the document instead of making a hard copy. The digitalized method also helps you work on two dissertations at once as it saves time.

So, this is why digital business holds great importance in today’s world.

Benefits of digital business

We might have solved your puzzled mind regarding the difference between digital business and business. It’s now time for you to know how digitalizing your business can benefit you.

Builds consumer trust and loyalty

Remember, your satisfied customers are always the key to your improvised sales. If you provide an essay writing service, how will you build consumer loyalty and trust? By showing them your quality content, right? Share the reviews you get from the consumers and advertise your quality content to gain consumer trust.

Reduced Cost

High productivity and reduced cost are something we all need. The digital platform has provided us with affordable advertisement methods through which we can increase our sales. Online marketing and advertisement costs are much lesser than traditional marketing.

Higher Reach

More than 4 billion people are active on social media; imagine the reach you will get posting a single promotional video or status. Of course, you will not find all four billion in the world on your page. At least attention-grabbing content can get you more consumers than you will ever get at your physical shop (If you have one).

Conclusion:

Now that you are here, you might know why digital business is important and how these 15 years old making millions. The above content is the secret behind their success. Teenagers are now utilizing social media and digital selling platforms to start their businesses. 

Getting support for your small business and selling your services online is much easier than actually knocking on doors and advertising your product.

If you have a business, digitalize it now and become the next successful business person in town with effective marketing and dealings.