If you have the entrepreneurial spirit but are lacking in funds, you may be interested in learning how to start your own online business for free.
While the online business space is dominated by major players like Amazon and eBay, there are still plenty of opportunities for solo internet entrepreneurs to start up a profitable online business.
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The Easiest Way to Start an Online Business
- Affiliate marketing
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
Once you’ve picked your hot market with profit potential, it’s time to figure what to sell them. Fortunately, you don’t have to develop, produce, or even source your own products! There’s an easy way to leverage existing products with a proven track record for profitability. It’s called affiliate marketing.
With affiliate marketing, the products are proven to sell, and you won’t have to worry about delivery, storage, managing orders, customer service, refunds, or any of the other traditional aspects of retailing.
In an affiliate marketing business, you do the marketing and promotion of products through your e-commerce site, but the online retailer (or the company that created the product) handles the rest. And, as an affiliate, you get a commission (from 5% and up, depending on the product) every time somebody buys. This is a great way to get started with your business. Affiliate marketing is the perfect way to dip your toe into an online business. And it might be your only source of products – that model has the potential to be very profitable, and can be scaled up easily
- Drop shipping
Drop shipping is very similar to affiliate marketing. In this model, you also sell other companies’ products. You market the products on your website. But this time you process the orders. When they come in you send them on to your drop shipping partner, which is usually a manufacturer or wholesaler. You pay them, and then they send the product directly to your customer.
The basic idea behind an online drop shipping business is that, as a small business owner, you don’t have to maintain a large inventory of products or handle any delivery to your customers. That eliminates the financial cost and risk of having a warehouse full of stuff you might not sell, and the hassle of arranging to send orders all over the country or the world. In fact, you don’t have to manufacture or store any products at all.
You make money on the markup from what you pay the drop shipper and what you change your customers
Blogging has quickly become one of the most popular ways of communicating and spreading information and news. There are literally millions of blogs online (don’t worry, you can make yours stand out and get noticed!)
You may think blogging is all about writing. And it can be if that’s what you want to do. But written blog posts are just the start. You can post photos, videos, and links to other sites, repost news and other articles… anything is game, really, as long as it relates to your niche.
- Professional freelancer
A freelancer or freelance worker, is a term commonly used for a person who is self-employed and is not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients; others work independently or use professional associations or websites to get work
Freelancing via the Internet is a great way for experts in their individual trades to help a variety of clients overall. Several freelancing and project-based websites let businesses that need extra help to list their projects. Small businesses and freelancers offer proposals, ideas, or bids, whereby the buyers can easily choose what they want and need. Sites like Elance or Upwork cover just about everything including writing content, creating graphic design, programming, and data entry.
- Online video making
Have you watched a YouTube video lately? Of course you have! This is one of the world’s most popular websites, with more than 1 billion users watching hundreds of millions of hours of video each day. And it’s not all cats doing funny things, by any means. It can be different information of different things. It is also one of the best and useful way of online business.
People are changing the way they search and consume content on the internet. No longer is it just text rich articles that people read from finding them on a Google search. Internet users are now getting more engaged with rich media such as videos. Because they are more engaged, Vloggers are able to leverage this to their financial gain. Vloggers can make millions of dollars a year from their audiences.
Videos are becoming insanely more popular, especially for users under 25s. There’s just so many effective video content platforms on offer such as Instagram and Snapchat Stories, Facebook Live video and YouTube. With these outlets you have the chance to push your content out to hundreds of millions of people worldwide.
If you’ve always fancied yourself as an internet celebrity and like the idea of being in front of the camera, then this is the time for action.
How to start a blog in 5 steps;
There’s five main steps you need to do in order to start a blog. If you follow this guide exactly, you’ll have your own blog set up in 30 minutes or less.
- Choose a great blog platform
- Choose a web host for your blog
- How to Set up a blog on your own domain
- Design your new blog
- Useful resources for blogging
In each of these categories, you can really get creative and make any type and format of content, as long as it’s engaging and useful.
No matter which way you do it, it’s passive income—money you earn while you sleep because you put these products up for sale on your website and a customer can buy and download them any time of day or night, automatically. All you have to do is check the sales periodically to see what topics or types of products are selling best so that you can make more of those.
One thing to keep in mind is that you don’t have to restrict yourself to just one of these e-commerce opportunities. Start out with one and get it going. Then add new revenue streams as you’re able. That will grow your income and ensure that you have something to fall back on should one business start going south.