5 great online business ideas to take advantage of today
If you are new to the idea of online business and making money online then this is a must read resource for you. If you already have an idea about online businesses but have some issue getting actual results then you want to read this article and talk to us about your challenges.
Since the internet became mainstream, it has continued to evolve and push the boundaries of peer to peer information sharing. It has made it possible for just anybody with a mobile device and internet connection to select a niche or an industry, build a brand and make passive income online.
Do not be deceived, there is no automatic process to making money online. It comes with dedication and hard work. It also takes some time and technical skills, and of course, some start-up cost. Do not worry if you are just starting out, none of these skills require a degree in engineering or computer science to master. They are relatively easy and at Biztrikt, we are dedicated to helping everyone who is serious to achieve their goals online.
What you must know about online businesses.
Having a business online means you have a property, usually a website, where you promote products or services. Depending on what you choose to run as a business model, you will likely need your own website and domain (brand) name.
Let’s talk about the basics of owning a website and domain name before we dive into specific business models.
A website is an online property which displays information that is set up by you. For your website to be functional, it should be hosted on a web host and it should have a domain name attached so that people know how to find you.
Choosing a good web host is very important for two reasons.
1, Uptime and website loading speed – It is important for you to choose a host that guarantees that your website will be able to load almost 100% of the time. Remember you always have competitors in any business you do, so you want to make sure there are no glitches that will prevent potential customers from seeing your site. Website loading speed is also important and is the function of your host and webpages. Your website should load quickly because the average attention span of internet users today is as low as 4 seconds!
2, Yearly cost – You want to make sure your hosting is as cheap as possible while offering the best services in terms of security and hosting capabilities. This will help reduce your start-up cost
A few tips for choosing a domain/brand name
1. Your domain name should be as short as possible. Maximum 3 syllables if you can help it.
2. It must relate to your business
3. It must be easy to spell and remember
When choosing a brand name, it is good to search on social media to see if the name has already been taken, because part of branding involves social media pages, especially on Facebook, Twitter and Instagram.
This great tool can help you choose a good brand name.
Online businesses you can start even as a beginner
Affiliate marketing is a model that allows you to sell products or services of others and get commission for each sale. It is usually run through an affiliate company like JVzoo or Clickbank. Product vendors go on these sites to list their products and when you register, you get an affiliate link specific to you.
This model allows you to start a business without having an investment or any inventory. Also since you are mostly selling digital products, there are no shipping costs involved.
You however need to drive traffic through your affiliate link and that is where the work for this model begins. You can drive traffic using free and paid advertising. Free advertising involves posting to friends and networks who may be interested in your offering. The best paid marketing solution online today is Facebook marketing, but Facebook does not allow direct affiliate links in ads. So you have to create a landing page that directs traffic towards your affiliate link.
That means you need to have a free or hosted web page which acts as a landing page where potential customers can get information about your affiliate product. You can check out ideas on how to promote your affiliate link for free.
For Facebook marketing, we would be happy to put you through. Talk to us using the chat box. If you are interested in affiliate marketing then we found a great resource that gives you all the information you need to get started. Find it here.
Blogging is best for those who have a knowledge or professional skill that can benefit others when the information is shared. Blogging involves sharing content in form of text and pictures to educate people on a particular topic. This page is an example of a blog.
Blogs can be set up for free on websites like Blogger or Wordpress. Setting up a free blog involves hosting it on another site and your domain name would look something like yourblog.freebloggingsite.com. If you want to blog on your own website then owning your domain and hosting become important. It really all depends on what you are trying to achieve, but in the long run, owning your site is more profitable.
Blogging can make money for you because on your blog, you can sell informational products, post advertisements and post affiliate links. All these avenues can make money for you once you have relevant content and the right amount of traffic.
Remember, the main aim of your blog is to share relevant information. So that should be your goal, then you can place your ads strategically. As with the above model, you can drive traffic to your blog page using free or paid methods. The blogging business model is best for you if you have a flair for writing and you can write a convincing article on any topic. There is also an option to pay others to write an article for you.
If you are interested in blogging then here is an article that can help you get started in no time.
The idea behind drop shipping is that you can sell products without owning them and without having an inventory. This business model is for serious investors who are looking to take advantage of the idea that you can sell products listed by Chinese (or other) manufacturers/vendors on your online store. Drop shipping requires that you have a store set up and that you drive traffic to your store.
With this model, a small business owner can source for products without an inventory and sell those products to customers then organize the delivery with vendors. So there is no need to own a warehouse or to even purchase the product (although this is advice able for product reviews).
Drop shipping in today’s online environment is easy to get into once you have an online store set up, but it is a highly competitive niche. You have to research your product, your target market and the suppliers as they are crucial to your business. You also have to ensure that your start-up cost is kept as low as possible. Also consider that you have to sell lower priced items when starting out because your brand is unknown, which means you have to sell a lot to break even at first.
Your online store can be set up on Shopify or Dashnex. Shopify is free for the first 14 days then you have to pay a fee monthly. Dashnex offers a one-time payment and you can use the platform for life without a monthly payment currently. You could also do drop shipping on Amazon. Find out all about Amazon drop shipping here. The advantage of running a store on Amazon is the established brand name and audience.
Drop shipping requires patience and sometimes resilience but over time, it can be a great source of passive income. We are available to talk more if you want. Reach us using the chat box.
Video content marketing
The best place to showcase video content to the entire world is on YouTube. It has the most viewers at any point in time and is the largest repository of video content. Do you have content that could be relevant and entertaining? Then this model might be right for you.
YouTube is great for informational videos that teach people and also show your skill as an authority in a particular field. You will need to have high quality videos and also adhere to best practices like closed captioning, good audio, simple editing for titles and so on. Video content is great if you can produce videos consistently and you have the patience and time to gather views.
This model can be profitable with time. Occasionally content could ‘go viral’ and make someone a lot of money in a short amount of time. It is best however to bank on the long run and keep producing interesting content.
When uploading your videos to YouTube, you would have to enable in-stream advertising to allow YouTube put in ads that allow your videos to make money. Short 5-10 minute videos are best for this model. You want to convey the perception that you know about your subject while trying to be entertaining as much as possible.
Also remember to ask viewers to subscribe and click the notification button, don’t be shy to say that. YouTube videos can be promoted by sharing links on social media and also by paid advertising through google ads and of course Facebook ads using a landing page.
Selling digital products
If you have professional knowledge of a subject that you think can help solve a problem or educate people, then you can consider creating an ebook, voice recording or video for sale.
Digital products are easy to sell and could be set up quite easily. However, you must have some credibility as an expert on the subject and you must know what you are talking about in order not to ruin your reputation when you are just starting out.
Ebooks can be created using free tools like canva. You simply need to have something to talk about and be able to navigate content creation on software like Adobe or Canva.
Voice recordings are another great way to share information and make sales. It however requires a certain level of reputation for you to attract buyers. If you have a website, you could offer free voice notes and create an opt-in to gather emails. When you have emails, you could than start selling other digital products through your email list. Here is a full resource on how email marketing works.
All of these content can be created by yourself for free or you could pay for it to be created. It is however important to have adequate knowledge of the subject when trying to sell digital products.
Starting an online business is exactly like starting any other business. It takes patience, dedication and some start-up cost. We have been running online businesses for years now, so we are writing from experience.
We recommend an online business however because it is easy to automate most things allowing you to sit back and enjoy the passive income once it becomes steady. It is also relatively easy to scale once you have set up all of the groundwork and you have established returning customers. When your business is online, the entire world online become your potential customers because you are no longer limited to a geographical location.
Another major advantage is that once your mobile device is your office, you can operate it from anywhere you are, as long as you have an internet connection.
Don’t think it is automatic though, and don’t get discouraged if you don’t see results for the first few months or years. It is a process of building relationships and that takes time if you want to build a profitable brand that will continue to grow for generations.
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