Online savings accounts usually come with substantially higher interest rates to help you grow your money faster (regular in-person banks can’t offer rates as high). Banks like CIT Bank and Discover Bank (among other top players in the industry) are great because their interest rates are often over 20 times higher than the national average. That means the money in your savings account will grow 20 times faster than the pace it’s most likely growing at now.
"The most painful mistake I see inexperienced entrepreneurs make is copying or doing the same things that successful entrepreneurs have done, expecting similar results. What first-time entrepreneurs don't realize is that the world is not a vacuum and there's more going on behind the scenes than it appears. There's much more effort that has gone into creating the success they see on the surface, and there's no guarantee that a particular tactic or strategy will be successful for everyone."
Similar to a YouTube vlogger, if you have a large following on Instagram then you could become an Instagram Influencer. You will be paid to promote products in your photos, from wearing certain clothes to action shots of you using particular merchandise. As your Instagram following grows, you may start out simply receiving freebies in return for a picture of you with the item in the shot. However, for those with followings running into millions, you can expect large payments to display products in your pictures. Use sites like Hype Factory to help connect you with companies prepared to pay for your influence.
Starting an online business is a tempting prospect – but that’s the easy part! The real challenge is to find out which opportunities are specific to your area of expertise or knowledge. To make your decision making a bit easier, we have created a list of online business ideas which shows you some specific examples of independent career paths suitable for various skill sets.
As an auctioneer you are engaged in selling products by offering them up for bids, taking bids, and then selling the item to the highest bidder. The best known online auction website is eBay. As a seller, you will need to create a listing based on the site requirements, which will stay up on the platform for a certain time unless you decide to close it earlier. There can also be fees associated with listing and selling items, which will depend on the type of seller account you opt for.
Find a profitable niche: We’ve talked about this a lot. But, where are you most comfortable. What niche do your skills, values, and interests intersect? Do you have 10 years of experience as a technical writer? Do you have long-standing PR relationships that’ll be invaluable in helping startups launch a successful crowdfunding campaign? Determine what makes your value unique, and lean heavily on showcasing that strength to your potential clients.
If you’re passionate about writing and feel strongly about certain subjects, type your way to riches by creating your own blog. Launching your own blog doesn’t require a great deal of technical or computer skills. It is important, however, that you do know what you’re talking about relative to the subject you’re writing on. Over time, you’ll start to develop an audience since people will trust your expertise and knowledge.
Kayla Itsines is probably one of the best success stories of this industry. She’s built a whole Kayla Fitness empire and grown her services from simply writing personal training plans to selling official fitness apps and books. You can jumpstart your career by offering free taster video classes and personal tips on your website and harvesting social media sites like Instagram and Facebook to promote your services.
Large corporations and business firms can easily hire a full-time staff coordinator or corresponding agency to run their Twitter, Facebook, and Instagram accounts, but smaller businesses frequently have to manage their own marketing for social media. But, because they have a great number of other responsibilities, many times business owners are too overwhelmed or busy to spend a lot of time on developing their social media approach.
Digital products like workshops, courses and membership sites have become popular among entrepreneurs with strong personal brands and businesses with potent content teams. This collateral represents an opportunity to monetize marketing in ways other than moving the target audience through the company’s main sales funnel. As Joe Pulizzi and Robert Rose of the aforementioned CMI have posited in their book Killing Marketing, introducing products like these to your business model gives you the opportunity to operate marketing as a profit center.
The kind of content you create depends on your audience's needs at different stages in the buyer's journey. You should start by creating buyer personas (use these free templates, or try makemypersona.com) to identify what your audience's goals and challenges are in relation to your business. On a basic level, your online content should aim to help them meet these goals, and overcome their challenges.
Your product or service has to be at least good, if not great, to start out with. It has to be differentiated in some meaningful and important way from your competitors’ offerings. All else follows from this principle. Don’t dawdle on getting your product out to the market, as early customer feedback is one of the best ways to help improve it. As Reid Hoffman, venture capitalist and co-founder of LinkedIn, said: “If you are not embarrassed by the first version of your product, you’ve launched too late.”
Analytics software exists to tell you how users find your site and what they do once they get there. By combing through the data, you can figure out which content resonates most with your users. Focusing on what really works can save time – but it means ensuring that marketing pros get weekly analytics updates and reports that help them turn insights into action.
If you want to help shape products in their early stages, joining an online focus group or answering survey questions is a great way to make extra money online. They don’t pay as much as some of the other options we’ve highlighted, but you can join groups on sites like Survey Junkie, Swagbucks, and IPSOS that pay out through Amazon gift cards, check, or PayPal. You’ll be asked to provide a bit of information about your demographics (age, location, etc…), but after that you can get going making money through surveys.
“Ask more questions, always. Assess whether “the one method” people are telling you is the only way to go, even makes sense for you and your topic or audience. I’ve found more engaged audience members and more sales waiting on the other side of ignoring traditional advice and focusing on key questions about what my audience needs than through re-creating systems that others have used. Ask more questions, always. Does it apply to you? How can you use it without the elements of it that you don’t like? What would utterly surprise your audience at this point? If you’re asking yourself “Should I do webinars or a 10-day challenge to promote my course?”, ask instead, “In a world where webinars/challenges don’t exist, how would I ideally help people and share my product with them?” – Regina Anaejionu