Nowadays, the internet is the biggest platform where anyone can start making money by creating an online business. Internet and a computer are the biggest equalizers right now. The best thing is it neither requires to have a relevant technical experience like building websites or programming knowledge nor does require any specific business or marketing experience is needed either. Depending on how fast or how big you want your business to grow, schedule your time, live anywhere and work as adequately as possible. This is the most peaceful and democratic medium of entrepreneurship and does not require a start-up capital as well. There are so many free services that facilitate the possibility of setting up a website or blog for free and thus powering many businesses to run with no money at all. Let us look into some ways to grow an online CorporateBusiness:
- Using the drop shipping method:
Ideally, as a small business owner, there is no requirement to maintain a large number of products or to be involved in the delivery to your customers. Thishelps you in cutting the financial cost burden for having a warehouse which is loaded with goods that might get sold or might not. Also, there is no point in keeping the hassle of sending the products all over the world. Instead, the best practice would be to work with a company that is having an expertise in drop shipping. Here’s how it works:
- As an owner, you list the products for sale on the website you created or any large e-commerce sites.
- When a purchase is made by a customer, you purchase the product from a third-party company (the drop shipper, usually a manufacturer or wholesaler) for a lower price. This process is as simplified as transferring the order from your customer, and which can be automated.
- The drop shipper then sends the product to the customer.
There is no risk on your part because you don’t even purchase the product at its original cost until the actual sale is made.
There are some of the disadvantages to the drop shipping business model as well. There needs to be a reputable drop shipper who can be counted upon with the delivery to the customers. If an order is late or doesn’t go out, or a product is a poor quality, the owner is the one to be blamed by the customer. The market is so competitive, the difference between the wholesale price and how much can a product be sold for are lower. But still, it is a worthwhile low or no-cost start-up option.
Placing a private label your products is a way to stand out from the competition with a drop shipping business. That way you’re not selling the same product brand but just competing on the price. You can rather use your own brand and face less competition.
- Affiliate Marketing:
Affiliate marketing is similar to drop shipping but has some key differences. Along with this e-commerce model, you don’t have to maintain a list of your own products, and you don’t have to worry about shipping products to customers. Ideally, you pick a profitable niche for your online business, and then you find an affiliate partner who has products available in that niche. The key difference between this and drop shipping is that the business model is even more hands off. All that the customer needs to do is to click on the link that you share it to them and the merchant handles everything like billing, order placing, customer service, etc.
If there is a passion or interest for a subject, you’re ready to start making money with a blog. An expertise will come with time. You can also secure the hosting by creating your own site. Blogging can be known as writing as well and can only happen if that’s what you want to do.
- Online Video:
- YouTube is the most trending and creates a sensation among the viewers. There are more than 1 billion users watching hundreds of millions of hours of video each day.
- YouTube can be used to make money online. There is no need to create a viral video, although if it does go worldwide and is seen by millions, that’s a good thing. The best strategy to attract viewers would be to create useful content and something engaging that people want to watch. The money will be made with ad revenue.
- The first step would be to create a YouTube account and start uploading videos. Then you can enable monetization on the YouTube settings. This gives Google the opportunity to include short AdSense ads with your videos, which you’ve seen if you’ve watched a YouTube video. You get paid when viewers click on those ads. Paid sponsorships are another opportunity to make money with a YouTube channel. To extend the reach, you should remember to post on social media sites so that more people view the content.
- In addition to ad revenue from YouTube videos, you can also use your YouTube channel to drive traffic back to your website, where visitors can read the product reviews, click on the ads on your website, or even get onto your email subscriber list, where multiple sales can happen.
- Information Products:
Internet business is not all about selling products. As a matter of fact, digital information products are one of the easiest and quickest ways to make money.
Ensure that you keep an eye on trends, check out the bestseller lists and consider the new trends on what people are discussing on social media.
You shouldn’t restrict yourself to just one of these e-commerce opportunities. Start out with one and get it going. Slowly start adding new revenue streams as you’re able to. That will help you in growing your income and ensure that you have something to fall back on once the business starts to grow.
Kyra is a Hiring Director at Alliance Recruitment Agency – an IT Recruitment Agency. She specializes in helping with international recruiting, staffing, Hire a Coder, HR services and Careers advice service for overseas and international businesses.