How do you know what is the right online business for you? There
are three main types of online businesses. To choose the right one, you
have to think about who you are as a person and which one meshes best
with your personality. For example, if you're really good at writing and
telling people about it, you'd do well with freelancing.
The Three Main Types of Online Businesses
There are three main types of online businesses that anybody can easily start. They are affiliate marketing, freelancing and eCommerce.
Affiliate marketing is where you promote somebody else's product or service and get paid for an action. Sometimes companies pay if you just click on a link. Other times they require the clicker to buy the product or service. As an affiliate marketer you don't have to provide customer support on the products ordered, or deal with product refunds or returns. There's little initial cost. You can set up a quick website and write reviews of the product.
Freelance writing is a very flexible opportunity because you can sell your writing services to clients directly or you can use an online platform like fiber. You can live anywhere in the world as long as you provide prompt service. Because the Internet has become so content driven, there are many people out there looking to save time by hiring someone else to write for them.
Finally, eCommerce is owning an online retail store. It's exactly like a brick and mortar without the brick and mortar. You have to advertise your items and provide customer service. You can sell your products directly through your own website or through partner network such as eBay, etsy, or Amazon.
What Skills Do You Need to Obtain
The number one skill is to know how to organize and plan your business. You need to document processes so you can provide a repeatable performance or so you can outsource and maintain quality controls.
The other skills that are nice to have include graphic design, WordPress, An understanding of online marketing including SEO, and time management. All of these skills can be outsourced. Yes, even time management can be outsourced. You can hire coaches who will help you plan your week. And then they can call you twice a day to ensure that you're staying on track.
But only you can clearly see the purpose of your business, and the direction where you want to grow it into. Once you clearly see where you want to go, and understand who you're selling to, then you can create your sales funnel. Then you craft (or get created) a marketing plan to fill that funnel with hungry potential clients.
The Three Main Types of Online Businesses
There are three main types of online businesses that anybody can easily start. They are affiliate marketing, freelancing and eCommerce.
Affiliate marketing is where you promote somebody else's product or service and get paid for an action. Sometimes companies pay if you just click on a link. Other times they require the clicker to buy the product or service. As an affiliate marketer you don't have to provide customer support on the products ordered, or deal with product refunds or returns. There's little initial cost. You can set up a quick website and write reviews of the product.
Freelance writing is a very flexible opportunity because you can sell your writing services to clients directly or you can use an online platform like fiber. You can live anywhere in the world as long as you provide prompt service. Because the Internet has become so content driven, there are many people out there looking to save time by hiring someone else to write for them.
Finally, eCommerce is owning an online retail store. It's exactly like a brick and mortar without the brick and mortar. You have to advertise your items and provide customer service. You can sell your products directly through your own website or through partner network such as eBay, etsy, or Amazon.
What Skills Do You Need to Obtain
The number one skill is to know how to organize and plan your business. You need to document processes so you can provide a repeatable performance or so you can outsource and maintain quality controls.
The other skills that are nice to have include graphic design, WordPress, An understanding of online marketing including SEO, and time management. All of these skills can be outsourced. Yes, even time management can be outsourced. You can hire coaches who will help you plan your week. And then they can call you twice a day to ensure that you're staying on track.
But only you can clearly see the purpose of your business, and the direction where you want to grow it into. Once you clearly see where you want to go, and understand who you're selling to, then you can create your sales funnel. Then you craft (or get created) a marketing plan to fill that funnel with hungry potential clients.
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