The shared hosting solution is best for persons who wish to host an average website, which is going to swallow a small or medium amount of web traffic each month.  You cannot anticipate, though, that a shared site hosting account will last you a lifetime, since as your business gets bigger, your web site will become more and more resource consuming.  So, you will have to eventually upgrade to a more feature-rich web site hosting service like a semi-dedicated server, a VPS (a.k.a. a private virtual server, or VPS), or why not a dedicated server.