The best entrepreneurs don’t seek risk, they seek to mitigate risk. Small business insurance is one of the best ways to look after you livelihood, and it’s more affordable than you think (from as little as R162/m with Santam for an administrative business). Make sure that your precious stock and premises are covered in an emergency such as a fire or theft.
"I advise entrepreneurs who struggle with this problem to first get their tasks organized and written down. I like Asana for this. The tasks that they find themselves adding repeatedly are tasks that they should think about delegating. At the end of the month you need to send out invoices, add numbers to your analytics spreadsheet, etc. Find someone else to do that. The hours you save by outsourcing these types of tasks will help you focus on the things that only you can do--like plan the strategy and direction of the business."
Nathan is host of the fastest growing business podcast The Top Entrepreneurs, and CEO of Send Later, a company he recently acquired after failing to acquire Success Magazine for $5m. He founded the social giveaway SaaS startup, Heyo and is an experienced online educator at CreativeLive where he teaches Facebook Marketing for Small Business Owners. Here's his business advice for first-time entrepreneurs who want to start a business of their own:
Owning a “real” business means you need to think about bank loans or financing, leases, maintaining inventory, business insurance, finding staff, training staff, etc. You then need to factor in finding a prime location for your business. If you don't have enough footfall then you can expect to be shutting up shop in as little as a few months. In fact, 50% of small brick-and-mortar businesses fail within their first 3 years.
Connecting with people in your field is a quick route to growing your business. You can promote each other’s products and services. By leveraging the power of multiple platforms, you will be able to grow far faster compared to doing it alone. You can also network with people face to face. There is a growing number of digital nomad hubs across the globe, and you might find a group of them living near you.
A virtual assistant is a great job to have if you want flexibility. You’ll be able to maintain multiple clients at once which mean you can easily fill gaps in your week or work overtime if you need to. A virtual assistant will generally charge £15-20 depending on the specifics of their job role. Expect to be assisting with tasks such as blogger outreach, product listings, research and responding to emails.
Before I talk about some of the methods for making money online, I wanted to address the role of pain versus pleasure. Every decision that we make in life is weighed on a pain-versus-pleasure scale. We will always do more to avoid pain than we will to gain pleasure, plain and simple. However, this is also what holds us back from succeeding in any endeavor.
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You don’t need to own a physical car garage or showroom before you can make money from selling cars. As a matter of fact, it is much easier this days to sell cars online than it is to sell it from a garage et al. All you need to do is to open a website where the cars that you want to sell can be listed (the prices, and specifications et al). You can deal in fairly used cars or brand new cars or both and still attract customers from all over the globe.
Take it seriously. Yes, you’re applying for an online job. Yes, you can do the work in your underwear, but that doesn’t mean it’s not a “real job”. You must treat it as such or they aren’t going to treat you as a serious candidate. You aren’t the only one who wants to work in their underwear. In fact, the competition online is likely higher than it is in your local area.
There are thousands of clues and even direct blueprints to how to make money if you know where to look. Find a successful company that is creating products or services that you are interested in and figure out HOW they are doing it. I use a process called reverse engineering to isolate two important factors: Their traffic and monetization. Where are they getting people to see their products? How are they converting them into buyers? If you can answer these two questions with a systematic approach, you can start to build a business around it immediately.
If you are the creative/artistic type, this may be an attractive option for you. With sites such as Etsy or Not on the Highstreet, selling of hand-made products has become considerably easier and more accessible, even for absolute beginners. Other marketplaces worth considering are Artfire, DaWanda or Yokaboo. Another option is to create a page on a social media platform and drive sales using various channels, e.g., a Facebook group;
If before now you are discouraged about starting your own Bible school because of the cost of renting facility and acquiring furniture et al, then you don’t need to be discouraged anymore because with the internet, you will spend far less starting an online Bible School compared to what you will spend when setting up a brick and mortar Bible School.
I’m sure you’ve seen YouTube videos featuring ads right at the start of their videos or at least somewhere in the middle. Yeah, it kind of sucks watching ads. Just like when you’re watching your favorite TV show and are then suddenly bombarded with commercials. To you, that’s the perfect time to flip channels. But for those who own those videos, advertisements that come from an authority site, or email list means cash and plenty of it.
Shopify is another great option if you are wanting to create your own eCommerce store. Shopify is arguably easier to set up than WooCommerce but will give you less control over your storefront and cost you more long term. However, if you have little to no experience of creating websites or using WordPress, or you are working to a very tight time schedule, then Shopify may be the perfect eCommerce platform for you.
Entrepreneurs create jobs: Without entrepreneurs, jobs wouldn’t exist. Entrepreneurs take on the risk to employ themselves. Their ambition to continue their business’ growth eventually leads to the creation of new jobs. As their business continues to grow, even more jobs are created. Thus, lowering unemployment rates while helping people feed their families.
Social media is one of the important aspects of digital marketing. You will have to be active on social media to get exposure for your blog. For this, you will have to understand social media and its latest trends. SocialMediaToday blog is designed to serve this purpose. It covers the latest trends of social media and helps readers to capitalize on it. You will find different sections covering different subjects such as content marketing, digital strategy, and social media marketing. The blog is popular for easy to understand infographics. You can go through them while following a busy schedule.
“A great brand starts with understanding who you are and what you stand for, understanding your marketplace, and understanding your positioning. What is the perception that you need to create in order to appeal to your target audience? The intersection of credibility, differentiation and uniqueness, and relevance is where you want to best position your brand.” – Re Perez
Kiss Metrics specialises in analytics, marketing and testing and its blog posts reflect this specialist knowledge. You can look forward to a host of beautifully designed infographics containing the latest digital marketing statistics, studies and tests. You’ll also find an array of useful digital marketing guides that tackle subjects like email marketing, social media and customer analytics.
Here’s the low-down: some internet domain names are more popular, sought-after, and valuable than others. Successful internet domain name flippers buy high-value domains for cheap at online auctions after lots of forethought and research, then sell to the biggest bidder for a nice profit. For example, www.hotels.com was sold for $11 million in 2001.
Digiday is the digital marketing blog which covers all the things related to digital marketing for big brands. Their blogs help us to examine how digital marketing plays out on a much larger scale. Big brands need digital marketing and yes, I love reading their blogs. It’s a real fun. Besides the digital content this site produces awards, job postings and events.
Chris Ducker is a virtual CEO and founder of Virtual Staff Finder, which is one of Hubstaff’s 7 Awesome Virtual Assistant Companies in the Philippines. The quote above comes from an article titled 6 Ways to Make Money While Building an Online Business. Ducker says that in order to be successful at online selling, marketers should position themselves in a market where people need what they offer.
You’ve probably heard people use the term “unicorn” in a business context. This means a privately held start-up whose value has grown to at least one billion American dollars. Think Airbnb, Uber, and so forth. There is no doubt that some start-ups have been major financial successes. And many smaller-scale start-ups are doing great as well, working hard and turning a steady profit. But that begs the question of whether finances are the only way to measure the success of a start-up. As it turns out, they might not be. At least, not always and not on their own.
This isn’t to scare you off. I simply want you to know that this guide is going to focus solely on ways to make real, sustainable extra income online. Not just a few bucks. I want to share all the mistakes I've made that got me to where I am now so that you don’t have to go through them, and can build a successful online source of income for yourself.
Find work. When you first start out, you may have to accept work writing about a topic you don’t find all that interesting. You must keep an open mind and be willing to accept work that may not be in your desired field. However, as you continue to write, you not only learn about more topics, but you also build your reputation. With time, you can be choosier about assignments you want to accept.
In the last few years, content marketing has quickly become one of the most popular topics in the digital marketing world. The Content Marketing Institute was one of the first companies to start touting the value of content in digital marketing, and their blog remains one of the best resources for following content marketing trends and best practices.
Scrolling through, make sure to take note of how many different types of content creation and curation Patel participates in. Besides written blog articles, podcasts and YouTube videos, his blog curates visual how-to tutorials, infographics, quotes and statistics, and examples of successful marketing. There’s something for everyone in his target audience, no matter how they like to consume content and what level of expertise they have.
Another Internet marketing trick that we have seen great results with is buying multiple domain names with your niche's heaviest keywords and phrases within the URL and setting up blogs on them. This Internet marketing tip has to be utilized carefully and here are some pointers. DON'T just throw duplicate copies of your main blog on them, this will get Sites blacklisted from Google very quickly.
Many people buy and sell domain names to earn money online since it takes very little time or investment. You can purchase a domain at its registration price or even much cheaper and then resell it for a profit. But, it always pays to do your homework first on websites like Afternic.com, Sedo.co.uk, or other domain auction websites in order to get a good idea of what’s popular in terms of domain names. An ideal way to find really good names is to check out terminated lists that offer many expired names and have made their way back into the pool for people to buy. A good site for this is expireddomains.net where you can put in your desired keyword that you want in your domain name and a long list of domain options will appear.
Etsy: While Etsy's popularity has declined recently, it's still a great resource for selling handmade items online. No need for complex ecommerce sites or merchant accounts or any sort of automation. The company takes a commission of every sale and charges a small listing fee per item. But many still use Etsy as their primary source of income. The best part is that you can also sell digital products on here such as poster designs.
Helping young people get into business is no new idea, but the perception that we need help in the first place highlights an issue with our educational system – what we get in a textbook or classroom simply doesn’t compare to what we get outside of these educational routes. It is because of this notion that almost any first year university student with entrepreneurial ambitions seeks out internships; there’s a lack of tangible skills taught in our educational system that we are responsible for learning on our own time.
We talked about drop shipping and how it works. But fulfillment by Amazon, (FBA) works in the opposite way. Fulfillment By Amazon (FBA) lets you sell your products on Amazon. You can leverage this company’s popularity to get your products out there, and they’ll do the rest for you. Amazon will handle storage, pickup, packing, shipping, and even customer service!
The question then becomes, how can you take advantage of this massive surge of spending happening every second of every single day online? The truth? Whether you're looking to start a simple online business as a side hustle, or you're quite literally looking to get rich and make an exorbitant amount of money online, there are 7 businesses that simply can't be overlooked.
So, where are we supposed to turn to make money the legitimate way online? This isn't just about generating passive income; this is also about finding ways and means to create an active income through the conveniences afforded to us by the internet that will not only help us with our debt obligations, but also empower us to save, invest and get really rich in the future.
In the age of online business, our brave world of new media, we’re all digital marketers. From small business to the nonprofit sector, from the newest startup to the Fortune 100, online advertising has become an imperative, integral part of public outreach. Why? Because tech-cultured consumers shop for goods and services on search engines, then shares on social media. Organizations now connect with new customers and engage current ones electronically. Having a well-formed online strategy can yield exceptional returns, making premium digital marketing blogs a source of highly sought-after advice and information.
The quote above comes from a Tech in Asia article titled Twitter Story and Tips from @AskAaronLee. In the article, Aaron states that monitoring both your own brand and competitors online could provide insight on how to position your product in the future. He also says that businesses should never try to sell on Twitter, instead, they should focus on engaging and assisting their followers with relevant problems.
“Start with 1 or 2 main channels of communication and publishing where you can be sending people. Experiment with other touch points that you know people are using. Those might be doing Facebook Lives, Instagram Stories, Snapchat, and layering on other ways of reaching new audiences such as Facebook ads, guest interviews, and strategic partnerships. Keep it simple and always be sending people back to the main channels.” – Anne Samoilov