The Strangest Secret In The World was recorded in 1957. Earl Nightingale, a self-made millionaire and one of the most influential people in America, shared his secret for success with the world. After listening to this audio, you'll know how to find clarity, alignment and focus to achieve all of your goals.
Starting your own online business doesn't have to be daunting! Find out about the best business model to start with no money, no products and no customer service to handle.
Identify the benefits and reasons for starting an online business
While starting your own business may seem risky, time-consuming, and even frightening for some, there are many benefits to launching your own online business. One of the main upsides is freedom. As a small business owner you have more freedom than most employees about how you spend your time and how your work fits into your personal life. Indeed, you can work from home (or anywhere in the world), set your own flexible hours, and make money from the comfort of your bedroom.
However, the biggest benefit hands-down is the fact that you can use leverage mechanisms through technology and systems to generate passive income and achieve financial freedom over time.
While some online business models require big responsibilities and difficulties, such as a good idea that you can sell or a service that you can provide, others do not even require to create a product or care about customer service.
This article will walk you through everything you need to know about how to start a successful online business, the different choices you have, its advantages and disadvantages. Finally, we will discuss about what seems for us the best and easiest path to achieve freedom through an online business.
Let's go!
What are the most common business models?
There are different ways to earn money online. This article is not an extensive guide to listing all the easy online business ideas that are possible on earth. In that regards, the limit is your imagination. Our objective is to provide an overview of the main online business models, which are basically reduced to the following ones:
- Sell Coaching or Informational Products (online courses, ebooks, seminars...)
- Sell Coaching or Informational Products (online courses, ebooks, seminars...)
A very common online business model consists of selling coaching or informational products (online courses, ebooks, seminars...) through your site or through digital marketplaces like ClickBank, Udemy or even Amazon Kindle. There are many types of online courses that can be sold. These include those teaching people new skills, hobby courses that teach people new hobbies, and lifestyle courses that teach people about different lifestyles like veganism.
SKILLS NEEDED:
Knowledge in a particular field and ability to properly market your services.
UPSIDES:
If you solve a big problem and market your service right, it can be very profitable and scalable as you do not need any inventory (all is in digital format).
DOWNSIDES:
You need to come up with an idea, be a good marketer and cover for customer service.
- Sell Physical Products (E-commerce or Drop Shipping)
- Sell Physical Products (E-commerce or Drop Shipping)
This model revolves around selling physical, tangible items such as clothes, books, gadgets, etc. Physical goods can be sold through an e-commerce store or utilizing the drop shipping model.
As of e-commerce, a very popular way to go is through Amazon FBA. With this model, you can scale quickly since you are using Amazon's already built customer base and traffic. On the other hand, the starting costs of buying and shipping inventory may not be cheap.
However, drop shipping is a good alternative for companies that just started their business and do not have the resources to invest in an e-commerce store or inventory management system right away. The way to go is: find a trendy product (e.g. in Aliexpress), sell it in your own website, when customers pay, your supplier ships the product directly to the customer.
SKILLS NEEDED:
Ability to find and market high demanding products.
UPSIDES:
You can leverage using Amazon's traffic and customers base (for e-commerce); you don't need to buy any inventory (drop shipping).
DOWNSIDES:
High starting cost and inventory management (for e-commerce); you don't have much control on your supplier and shipping delays may be too long (for drop shipping) + you need to cover for customer service.
- Sell Digital Marketing Services (Digital Marketing Agency)
- Sell Digital Marketing Services (Digital Marketing Agency)
One of the most common online business models nowadays is running a digital marketing agency. A digital marketing agency provides services such as SEO optimization, Social Media Strategy, Design (like website or logo creation), Content Marketing Strategy Development as well as many others such as email newsletters or lead generation.
Many business and entrepreneurs outsource their digital marketing and you can also look for small business around your area which do not have any digital presence yet.
SKILLS NEEDED:
You need expertise in a particular digital marketing field.
UPSIDES:
High demand and ability to scale once you get several customers by outsourcing your services.
DOWNSIDES:
You will need to work hard until you are able to scale, and you actually need to be an expert in a particular digital marketing field.
- Promote Third Party's Products (Affiliate Marketing or Network Marketing)
- Promote Third Party's Products (Affiliate Marketing or Network Marketing)
Affiliate marketing and network marketing are two popular methods to make money online. They both consist of promoting other people's products.
Affiliate marketing is when you promote someone else's product or service and you get a commission for each sale. Most affiliate marketers promote products or services through their blogs, social media channels or email lists. Network marketing is a business model that uses a network of distributors to sell products directly to the end-user. The network marketing company provides the product and marketing material and allows individuals to become distributors. They receive commissions on the sale of whatever product or service they are distributing, as well as on any sales coming from their network of distributors. They are also rewarded on building their distribution network according to the company's compensation plan which can have several bonuses through different levels (thus, the leverage mechanism can be exponential).
Affiliate marketing and network marketing are very popular because they do not require any upfront investment (or a low one) to start. These two business models also attract many people because you don’t need any expensive equipment like in traditional businesses such as retail shops, restaurants, etc., nor do you need to have large sums of cash to invest and the Return on Investment (ROI) can be exponential.
SKILLS NEEDED:
You need to be passionate about a particular field, be willing to share experiences and help others (especially in network marketing).
UPSIDES:
No upfront investment (or very low one), high possible ROI through leveraging your network (or through technology), no need to create a product nor deal with customer service.
DOWNSIDES:
You may need to find different marketing strategies to detach yourself from other marketers if you want your results to be great.
The easiest path to making money online
In our opinion, the easiest way to start an online business is hands-down promoting other people's products. Why? as mentioned above, you do not need to come up with an idea, create any products nor deal with customer service. Whether you're just looking for a way to earn some extra cash or you're starting your own online business, this might be the perfect option for you.
You can promote any kind of product as an affiliate, whether it's physical goods like clothing, jewelry, gadgets and more; or digital products like eBooks and music.
All you need to do to get started is pick a niche that you feel passionate about and choose products you want to promote that appeal within that niche. The more passionate you feel about the products, the more naturally you will promote them and the better results you will get. Think as if you were sharing a great film or a product you really like with a friend.
Also, people who are passionate about something will be more motivated to invest their time and effort into it. So if you can find something that you love doing, then affiliate marketing could be the easiest high paying job for you.
However, please note that making money online, whatever the business model you choose, may require to learn new skills (especially marketing-related) and be persistent while achieving your goals. There is no magic or shortcut to success. You need to be willing to put in the work until your system is built and ready to work for you. However, I can tell you the rewards are worth the effort. Remember you are working towards building your own dreams and not someone else's!
How to get started with affiliate marketing (and get it right from the beginning!)
Most people will tell you to go to ClickBank or Amazon, find good products to promote, send traffic to your affiliate link and pray and hope to get any sales 🤞.
If you do that, I can tell you are just one step away from failure... 😱 if it was that easy, everybody would be rich! These techniques do not work and you would be lucky to get 1% of sales if you use them.
The secret to a rock-hard affiliate marketing business is to build a solid hub-based business and collaborate with companies that have ecosystems so that you can generate multiple streams of passive income.
Don't try to cut corners. Focus on creating a valuable ecosystem and not just on being transactional, otherwise your success will not last.
If you want to know exactly how to create and launch a wildly profitable automated affiliate marketing business in 30 days and make at least 5,000 dollars, step-by-step... I highly recommend you to attend a Free Masterclass I have for you.
In this Masterclass, you will learn how you can make a big difference from other marketers using the connector hub-based business model that will enable you to leverage and create multiple streams of passive income.
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