Once upon a time, setting up a business meant opening up a shop somewhere where you could be sure that customers would come to see you. You needed to order stock and keep the shop tidy, well-heated or ventilated, and you needed to always be there. All of this meant that starting to sell would be preceded by weeks, even months of extremely diligent work, and with no guarantee of success. Anyone looking to set up a business would often decide that, on balance, the risk was too big. Now those problems are things of the past, and the potential businessperson can get things up and running very quickly.
The thing about “bricks and mortar” businesses is that they relied a lot on location and the other factors mentioned above. By starting an online business, your sales floor can be a small study under your stairs and your customers can be anyone anywhere in the world. Nowadays , there are multiple technical solutions available which allow you to process payments electronically from a customer's credit card or online bank. But even if you are not in a position to do this, you can set up a PayPal account and do your selling on eBay. There is barely any initial financial investment, it is possible to generate a positive cash flow in relatively no time at all
So now you can do business in your pajamas at 1.30am. Due to the advent of the internet there are various ways that a budding new entrepreneur can get started making money online. 3 of My favorite ways of making money online are:
I like affiliate marketing because it allows you to sell the products that other people have developed. This means that all that you have to do is drive targeted traffic to your affiliate offers and if you have done your research and marketing correctly, the sales will start to flow. The nice thing about affiliate marketing is that you don't have to spend any of your time in product creation so you can focus both your time and capital on driving targeted traffic.
Platforms like eBay and Amazon make it really easy for new entrepreneurs to start seeing cash flow pretty quickly. The nice thing about
partnering with these two eCommerce giants is that you don't have to drive traffic. These sites already have millions of buyers who are already looking for your products. Now you can set up your own eCommerce shop, but if you are new to eCommerce, I really recommend that you partner with one if not both of these giants so that you can learn the basics. If you want to learn more about running an eCommerce business, click here to download my free ebook which will explain the basics of running an ecommerce shop.
Internet Network Marketing
My Favorite online business is Internet Network Marketing. If you have ever heard of Amway, or Herbalife, then you have heard of network marketing. Network marketing has gotten a bad rep over the years because many have been sold the idea that it was going to make them rich over night. Network Marketing is not a get rich quick scheme, it is a get rich slowly business that if you develop it correctly, it will definitely generate a substantial and residual income. And this is why I like Network Marketing. The work that you do today continues to pay over and over and over again. It is one of the few online businesses, that allow you to generate a residual income.
There are numerous network marketing companies out there, and they offer everything from Health and Wellness, to Fitness, to Travel products and services..
The other thing that I like about Internet Network Marketing is that unlike traditional network marketing which primarily teaches you to chase your friends and family, internet network marketing you can promote your products and business opportunities to the millions of people that are out there looking for what you are offering on the ‘net.
There are over 2 Billion people on Facebook alone, so this gives you an endless supply of potential customers and business partners to speak with.
It's my belief that everyone who has a 9-5 corporate job should also have a side hustle. That way they can let their job finance their side hustle until their side hustle makes them so much money that it would be a waste of their time to show up to the 9-5.