What online Business is right for you?
Welcome to Pathway to Making Money Online
The most intriguing thing about an online business is that the start-up costs are minimal and that you are not limited to the amount of money that you can earn. Your success and earning potential is controlled by you. You can build an online business and carry on running it into your retirement or even start one in your retirement. You can sell it as well run high traffic and profitable websites are very valuable. It is a business that you can start from home not requiring a lot of expenditure, basically requiring a computer or tablet with an internet connection.
You will be successful if you are able to help as many people as possible get the information, products or the services that they need and desire in the most efficient way possible.
It is imperative that you properly determine what business is right for you. You then have to do the right things right, using the right strategies. Conversely, a focus on the wrong strategies will provide a lack of success. Crucial to achieving success online (from choosing a niche, creating a website and content, leveraging social media and to make it a viable online business) is the right game plan, proper training, help when you need it and monetizing the site effectively.
So What Business is right for you?
There are multitudes of options to generate income online. Let’s take a brief look at a few different online Business opportunities.
You can sell any physical product like furniture, art, jewelry, household goods, tools, business supplies, clothes, electronics, etc. that you make or buy.
You can create great success selling your own physical product, or product purchased from someone else but you have to consider that you have to substantial work to either make or acquire the goods. You will need to work out Quality requirements, Customer Service (inquiries, product details) inventory requirements, shipping and payment, returns/refunds, etc. Selling, physical products directly is not the easiest way to get into an online business as you are really managing multiple business undertakings.
Ads are very common and I am sure that you see many of them when you are online on MSN, Yahoo, and Facebook and even with Google. These advertising placement service programs are designed for website owners who want to display targeted advertisements on their website pages. These ads can contain text, videos and/or images to earn money when site visitors view or click on the ads on your site. Google AdSense is an example of this. They can be an income generating undertaking (earn a few cents or a couple of dollars). These can work well but you will need to generate a lot of site traffic to your site to make some real money.
Affiliate marketing is the epitome of performance-based marketing. A business rewards affiliates for visitors or customers they are able to bring to them by the affiliate’s marketing efforts. It is made simple as the company that provides the goods or services supplies their Affiliate Marketers with their own special Affiliate links to post in their online business, whether on their website or through social media or other means.
Amazon is the best example of Affiliate Marketing offering what seems to be a limitless product range.
Personally, Affiliate Marketing is my first choice for generating online revenue and I know that there are many people making a decent income with affiliate marketing. It is not surprising that today the majority of online transactions are Affiliate Marketing based.
The good things about Affiliate Marketing
- Easy to learn to become an Affiliate Marketer with minimal training
- Little or low start up cost
- Affiliate Marketing is open for thousands of products and services, clothes, shoes, household goods, furniture, yard goods, books, electronics, food, healthcare, fitness
- You don’t need to purchase the products – No inventory
- You can partner with companies that handle payment, shipping, returns, refunds and Customer Service requirements so you can focus on the marketing and promotion and generate traffic
One of the best places to learn how to create your own business following with the affiliate marketing business model is at Wealthy Affiliate.
Software, Online Training, and Courses
There are many providers of Software, Training Services, and Courses that you can partner with and draw a commission for the sale of their products and services. The wide range includes low cost (low commission) short sell cycle and also higher sell price (higher commission) and of course that typically comes with longer sales cycle. You can also sell your own services, training, and information. Typically this is done with eBooks, online courses or video courses. If you can create great content that generates demand you can generate income online. This would come after some hard work up front in developing your offering but the interesting thing about this model is that you can profit from your work distributing it online long after your hard work to develop the products with minimal effort.
One thing to consider is that success comes from choosing the right niche. It is a lot easier to work on something that you have a passion about, whether it is fitness, health or furniture. Any of the above business models could be right for you to monetize your passion. There really are just a few steps for starting an online business to make money while providing products and services to enhance people’s lives.
Any passion, interest or hobby can be leveraged to create a successful business.
1. Build a website
You have to have a website to create a long-term business online – it is like the brick and mortar store showcasing your offerings in order to attract visitors with similar interests or passion.
2. Attract visitors
Over 3 Billion people have access to the internet and surely, some share interests similar to yours.
3. Generate revenue
The objective is to draw an audience with great products and services via your website and generate sales to make money.
Let’s say fishing is your passion. How many people are passionate about fishing? I know a lot that are.
What do people passionate about fishing, need and want? It could be tips, gear or new gear, rods, fishing line, lures, floats, sinkers, a new boat, canoe, life jacket, a place to fish, a flight train or ride to the destination, a guide (the written type or maybe a personal guide), fishing news, where to catch?, accommodations, food and of course beverages to just name a few off the top of my head.
You probably wouldn’t have to go much further than becoming an Affiliate with Amazon to be able to fill almost all of these fishing needs and make a commission off each of those sales. There are also travel, car rental and chalet or cottage rental opportunities to affiliate with as well. So you can see, with a little guidance, training, imagination and some research, you will find a multitude of other opportunities income generating opportunities for an online business. Think about how powerful and effective it would be to making a real connection with your audience if these Affiliate links are based on your experience or research and you are recommending them because you believe in them.
The options are endless; fishing is just a small example. Think about applying what you really enjoy doing and are passionate about. Is it sports, fitness, gaming, self-improvement, pets, food, cooking, dating, travel, etc.
In closing, you could learn how to create your own online business to make money on your own, but why would you? There are proven ways to go about getting started and presenting things in the most efficient and helpful way to your audience. This is all taught at Wealthy Affiliate. In my opinion, the very best place to learn, get help, apply and build a viable online business.
You don’t have to try and do everything on your own. With Wealthy Affiliate, you’re getting the latest ‘playbook’ which walks you through step by step to the keys to the building and maintaining of a long-term business to generate income. They not only teach Affiliate Marketing but also about growing your online presence, reinvesting and if you so choose, scaling your business.
If you are willing to work hard and connect people to great products and services you can earn money as an affiliate. This is not a get rich quick scheme but if you choose a niche, properly monetize it by investing your time and effort you will earn money.
Feel free to comment or ask you questions below. We would love to hear from you.