2019 is the right time to start your online business. You may, however, be struggling with the most profitable avenue. The online space has so much potential, and it is just waiting for that savvy business person to reap huge profits. If you sell online, you have the chance to make both active and passive income. Before you quit your 8 to 5 job, read our list below for some motivational ideas,
· Think About Blogging
Many people have started blogs and have seen the benefit. With so many online tools available, blogging is so much easier. By monetizing your blog page, you get a passive source of income. There are various ways you can make your blog a source of money. It includes running ads, selling digital products, selling ad space, having sponsored posts, how-to tutorials, among others. You also get to use the information you have to educate, entertain, and inform people.
Blogging is enjoyable, and it especially helps if you have an interest in the subject. It is, however, not easy, and you need to dedicate time and the discipline to churn out interesting content.
· Affiliate Marketing
You can use your online platform to promote somebody else’s products and earn a commission. One way of doing this is to promote products such as videos, eBooks, and membership sites, among others. You will find that you do not face many barriers, and finding products to promote is not difficult.
You can also do affiliate marketing through Amazon partners. You will never run short of products because their millions to choose from. It is a profitable venture, and you can make a lot of money. Read up on SEO and copywriting so that you improve your skillset.
· E-Commerce Sites
An e-commerce store will allow you to earn good money online. You get to interact with a broad consumer base while having the benefit of not having to deal with the hassle of running a physical store. With the right website and excellent customer support, you will find that you can convert leads into sales quite quickly.
You, however, need to note that running an e-commerce site is not very easy. You face a lot of competition online, and you, therefore, need a very unique or niche product. You need to learn how to market your product so that you generate the relevant awareness of what you have to offer. Consider some of the following when setting up an e-commerce site.
- Do your research so that the market you get into is profitable. It requires that you identify a particular need and become the one who provides the solution. Try as much as possible not to get into a market that has too many players. If you are new, you will find that it is challenging to compete with the more established businesses.
- You need to get your pricing just right. If you are too expensive, no one will buy from you. If you are too cheap, you may not break even. Think about all the associated costs, and how they will impact on the final price of your product.
- Also, consider whether the product you have will allow you to scale your business. Some products will not allow you to grow because they have picked and are starting their downward spiral. Look for a product that is on an upswing so that you can get maximum profit.
- Take advantage of platforms such as Shopify; it is easy to set up and allows you multiple functionalities. The subscription packages are also not expensive and will fit most budgets quite well.
· Publish a Book on Amazon
If you have a flair for writing, now is the time to make some money out of it. Amazon is an excellent place to self-publish. You will find several tutorials online to help you with the process. The advantage you have is that Amazon will promote your book for you if you achieve a number of sales within the first weeks.
There are specific tips you can follow to ensure that your book is fascinating, thus resulting in sales.
- Validate the idea you have for the e-book by running it by a few people
- Use the Amazon tutorials, and ensure you stick to the guidelines
- Have an outline that will help with the content creation
When you get your book on Amazon, set the pricing low in the first week so that you do not price yourself out of the market. Remember you are a new writer and you can therefore not compete with the more established ones. Think about running promotions to generate a level of interest. Send out the communication to your email list and encourage people to buy your book.
There is so much business opportunity available on the online platform. You do not even need to sell the product to make money. Think about some of the businesses we have highlighted above, and you could be well on your way to becoming an online entrepreneur.
In case you are interested in starting an eCommerce business
Depending on the approach you have chosen, launching an eCommerce