want to start an online business? Here is your ultimate guide on how you can start an online business in major online business opportunities like affiliate marketing, blogging, dropshipping, information products, digital marketing agency, freelance business, ecommerce and a lot more.
Now we have the perfect condition to start an online business. for the reason, online business’s has the lowest start-up cost, you can work from anywhere, and you have the potential to earn a very high income while enjoying your freedom.
But, how can you start an online business?
Here’s is a step by step guide on how to start and grow an online business. but before we dive into the ways you can start an online business, you have to answer, what your wealth creation equation is? this is what determines whether you stay poor or you going to get rich.
What is your wealth creation equation?
Everybody has his/her own wealth creation equation. Your wealth creation equation is
(WCE) =income –tax.
For example, if you are Unemployed your wealth creation equation is (WCE) = 0, if you work $10 for 80 hours a week. Your wealth creation equation will be
WCE=$1080hrs-tax=$800-tax=$790 per week.
If you start an online business that makes $10/month net profit per customer and if you sell to 1000 customer per month. Your wealth creation equation is
WCE=$101000=$10,000 per month.
Your wealth creation is dependent on what you do to create your wealth. But there are rules that you can’t change.
You can’t scale time
If you sell your time, your wealth creation will be limited by time. The average person works 60 hrs. a week and there are only 168 hrs. in a week. There is no way to scale time more than 168 hrs. Cap.
If you work for MacDonald $10 per hour your WCE = $10 * (hrs. worked)-taxes. You can expect WCE=$10(70hrs. per week) =700 per week if we assume tax $100, the pay will be $600 you can make $2400 per month.
To be a millionaire you have to work 100,000hrs per year or 273 hours per day. However, there are only 24 hrs in a day.
You can’t scale wages
According to the Bureau of Labor Statistics (BLS), an average wage in the United States in the first quarter of 2019 was $905 per week or $47,060 per year.
Somebody with an average salary can’t go to his employer and ask for a 2000% wage increase. Which is required if you want to be a millionaire with your wage.
But you can start a business that can scale
You can create wealth by doing one thing better but helping and serving a million people. For example, if you own a digital product that sells for $10(net profit) and if you can scale to attract 100k customers every year, you can be a millionaire!
Why do you need to start an online business?
Every day traditional jobs and businesses are disappearing. On the other hand, new jobs and business opportunities are created by the fast-changing technology. These new opportunities are waiting for you to take on them before it is too late.
Now is the easiest and the best time! to start an online business. You can start your business from the comfort of your home without a huge investment and even as a side hustle beside your full-time job.
However, you should know that there is no free lunch online and if you want to start a successful online business you have to provide value for your clients.
There are so many ways you can provide value and start your own online business.
When you decide on what value you provide. you should never forget, providing value for your prospect will be a lot easier if you select the best method that line up with your passion.
There is no single business structure and business type that works for everyone. You should identify what works for you. That is why we have packed multiple online business opportunities in this blog post.
Service-based business, software as a service, digital info product sales, and physical products are tips of the icebergs that you have to check out.
Here is a stat on major online business opportunities. Share it and/or embed it.
This post will walk you through online business opportunities that can be your ticket for success. What are you waiting for? Select one of the methods below and start your online business now!
Best online business to start in 2019
- Start an affiliate marketing business
- Start a blogging business
- Start an online dropshipping business
- Sell information products
- Start a digital marketing agency
- Start an online freelance business
- Start an ecommerce business
- Start selling stuff online as a business
- Start a Vlogging channel
- Start a podcast
- Develop a mobile application
- Start a saas business
- Start trading in forex
- Start an online stock trading business
- Start a print-on-demand online business
Affiliate marketing is a way to make a commission by driving customers to the merchant’s website via your unique “affiliate” link. You will be paid a certain percentage of commission for each product bought by the customer.
Affiliate marketing is one of the easiest and fastest ways to make money online. Since, it doesn’t require you to own a product, a service, a website, a blog or any other staff that are required by other types of online business.
Your job as an affiliate marketer is to market other peoples’ (brands) products and make a commission.
Affiliate marketing is used by most brands as part of their marketing strategy. According to mediakix, there is a 10.1 % growth in affiliate marketing spending in the US every year. And by 2020 affiliate marketing spending will reach $6.8 billion.
Why affiliate marketing?
Affiliate marketing is a lucrative and far-reaching industry.
It is a billion-dollar industry growing every year. You can promote a wide range of products that you believe in.
It’s a low-cost business opportunity with no barrier to entry.
Almost anyone with little to no capital can start an affiliate marketing business. Unlike other business ventures, you don’t need to save or borrow huge capital.
You don’t need to own a product or a service.
In this business model, you don’t need to create your own product. You promote somebody else’s product or service and you can start making money in no time.
You don’t need to own or create your own promotional materials.
Vendors and merchants most of the time provide you marketing materials. You can start earning your commission right away.
No degree or experience required.
Anyone can start this business no matter what their educational background is. You are free to choose how you do your campaign and you don’t need a degree for that. Only practice is what makes you perfect.
You can do it as a side business.
You don’t need to quit your job to do this business. You can work at your own flexible schedule. If done correctly it can bring you more money than your’ full-time job.
You are your own boss.
You are totally independent and you are free to choose what is best for you, based on your convenience.
Your options to market your chosen affiliate product are limitless
There are countless ways you can market, your chosen affiliate programs. Using your blog, using email, using youtube videos, online courses, Social Media like Facebook, Pinterest, etc.
The cons of affiliate marketing
You can’t control the affiliate marketing programs.
You are entirely dependent on your merchant’s rules and conditions, you may negotiate. but, it is them, who make the decision not you.
You can’t control the competition.
Highly talented affiliate marketers from the same niche may affect your performance and they may make things tougher. That may force you to change your niche or may require you more hard work and persistence to succeed.
The possibility of affiliate hijacking
Although this is a rare case your affiliate link could be hijacked by a scammer who wants to get your commission.
No Guarantee of Revenue
Pay per performance can be a very high potential money maker. But also, a significant risk. How much money you can make is totally dependent on you.
How to start an affiliate marketing online business.
You can follow these critical steps to launch your own profitable affiliate marketing business fast and with no trouble.
Step 1: Choose the Right Affiliate Network
There are lots of affiliate networks that will help you start your affiliate marketing journey in the best way possible.
- CJ Affiliate
- jvzoo Direct Affiliate Programs
- Impact Radius
Popular self-hosted affiliate programs
These are the tips of the iceberg. There are lots of other affiliate programs that you can join based on your niche and type of products.
If you are interested to promote a particular product. You can search for an affiliate program for that product using Google or you can search using the search bar of the website by using keywords like “affiliate”. Some sites put a link at the bottom of the page.
Step 2: Select the Right Affiliate Products
When you start your affiliate marketing journey focus on two to three products. And, when you gain experience follow trends and test new products too.
Keep an eye on your metrics and adjust the focus of your marketing on products that are making you profit.
Step 3: Consider Buying and testing the Product before Promoting
Promoting products that you have tested and known will give you more confidence and credibility.
You may not need to buy every product you promote however, having firsthand experience can help your marketing effort. If you can’t buy the product, you should at least review other people’s experiences.
Step 4: Utilize Social Media Marketing to Get Traffic
Be active on social media like Facebook, Twitter, YouTube, Pinterest, and other social media platforms. Post helpful and valuable content including your affiliate links.
Step 5: Consider Using Redirect / “Pretty” Links
Make your links shorter and clickable using a service called bitly.
Resources to master affiliate marketing (2019)
Spencer Mecham’s Affiliate Secrets 2.0
Clickbank Success – Affiliate Marketing Without a Website
Start a blogging business
A blog is an online journal or information website where a writer or group of writers share their views on a subject.
Why you should start a blog?
Anyone can start a blog.
Now starting a blog is easy, anyone with an internet connection can start a blog using WordPress. you don’t need investment, experience or technical knowledge to start a blog.
Blogging is a high potential passive income generator if done right.
There are lots of blogs making seven-figure. Blogging may take time but if you do it right you can generate good passive income.
Blogging can be used to grow a Business
Companies who blog have 97% more inbound links, resulting in more traffic and visitors. You can use blogging to market your service, sell your products, create brand awareness, and acquire a new customer.
It can bring Flexibility and Freedom
Building a successful blog brings freedom and flexibility to your life allowing you to spend more time with your family.
it can Improve Yourself and others
Blogging turns you into a critical thinker and an influencer shaping what others think.
You can market yourself as an expert and build a network
Blogging makes you more appealing to potential clients and you can build a relationship with others interested in your subject.
The cons of blogging
Blogging can be time-consuming
You can’t post 300 words post and except good results like in the past, if you want a successful blog you have to write longer content which takes time.
According to a survey by orbit media, the average blog is 41% longer than it was in 2014 and it contains an average of 1142 words. The average blog takes 3.5 hours to write which was 2.5 hours back in 2014.
A possibility of frustrating Technical issues.
Technical issues like expired SSL, plugin conflict, malware, and other technical issues could happen. Which could be frustrating for some bloggers. you may have to use managed WordPress hosting to skip some of the technical problems.
You can’t please every one
However you try, you can’t please everyone, and people could be irrationally rude to you. Unless you accept that from the begging you may fill uncomfortable and lose your motivation.
It takes time before you start making money
Blogging is a long term game unless it is an exceptional case where you can do viral social media marketing. You have to wait several months to see a paycheck from your blog.
How to Start a Blog
Step 1: Choose a niche for your blog
The first step to start your blog is to select your niche. If you have no idea about the niche you want to blog about. You may start by thinking about your hobbies and passions.
Take a piece of paper and write down 20 topics that you are interested in. Select a topic that you think, will have enough interested audience and is evergreen. If the topic is very competitive you can select a sub-niche of that topic.
You can also search a topic idea in the very popular blog niches related to personal finance, dating, food, travel, gaming and the like very popular niches.
To perform this search you can easily use Google suggest. Take a keyword related to personal finance or travel ( example) and write it in the Google search bar and hit the space tab and wait for Google’s suggestion. Write down the Google suggested keywords.
From the list of topics select the one that will be interesting to you.
The other way to start a blog is to start a personal blog. With a personal blog, you may not need to stick with one topic.
Step 2: Pick a blog name. Choose something descriptive and short
A good blog name should be descriptive and easy to memorize so that potential readers can instantly tell what your blog is about, just from the name and remember your domain.
If you are planning to create a personal blog you may use your name or variation of it.
Step 3: Register your blog domain name and get hosting.
A .com domain extension is the most recommended, but .net or .org work as well.
Note: You are not allowed to use any spaces or punctuation other than dashes in a domain name. You can use the numbers. Since numbers are hard to remember most of the time this is not a good practice in most cases.
If the name you wanted is already taken you can try different domain extensions, other than .com version.
If that is taken as well add a small word like “the”,” a”,” my” and so on.
You can use hosting services like blue host and you will get one domain name for free. Their control panel comes with a one-click word press installer that will install a software that will be used to manage your blog.
Step 4: Put your blog on coming soon mode and Write at least 15 good articles (or buy it).
After you buy your hosting plan your blog will come with coming soon page until you publish your website if not you can Install a coming soon wordless plugin and put your domain under coming soon page.
Now click on post at the left section of your dashboard. There will be a default word press post that comes with every word press installation. Delete it by clicking” trash” just under the post.
Then take time and write at least 15 good articles or you can buy articles from sites like iwriters.com.
Step 5: Customize your blog. Choose a theme and tweak it.
In Word Press, blog layouts are known as “Themes”. Themes control the design and look of your word press blog. You can change your theme by clicking the “appearance” tab on the left menu.
Unless you have a very specific design in mind for your blog, you may not need to spend a lot of time on the design of your blog.it is better to start with one of these free themes already installed for you.
If you don’t like any of the themes or if you want your blog to be more professional from the begging you can use a paid theme from ThemeForest or other theme marketplaces.
Step 6: start publishing blog post consistently
Now your blog is up and running. it’s time to add content regularly. To start publishing your blog post. Click the “Add New” link.in the left section of your WordPress dashboard under the post section.
It will take you to the post editor screen.it is a good practice to write your post on MS office or open office or any other writing tool and to paste it into the WordPress editor.
Once you have finished your post and you inserted all the media files including photo and video. Click the “Publish” button on the top right side of the screen to publish your post.
Now coming soon page will be gone or if you use a plugin to put coming soon page, go the plugin setting page and change the coming soon mode.
Congratulations! You now know how to publish content and your blog is set up and running!
Step 7: promote your blog and build an email list
Your blog will be most probably a ghost town for the first three months unless you use other traffic sources other than Google’s organic traffic. Google will take at the minimum three to six months to start ranking your blog content. You should never give up at this time. It is normal for Blogs to take time before it starts making money.
However, you can use this initial period to fine-tune your blog. After some time your content will start ranking on Google and you will be generating good income. But this doesn’t mean the only traffic source for your blog is Google. This is a 2010 strategy. Google is more competitive now and social media are a lot bigger now than back then. You should diversify your traffic source from the beginning.
Use Pinterest and other social media sites to drive traffic to your blog.
If you have created high-quality engaging content on your blog then social media is a great way for your blog to go viral.
In order to keep your readers coming back to your blog, you should start building an email list from the beginning. Then you can notify them when you publish a new blog post.
Step 8: make money with your blog.
Making money will be easy after you build your blog and there are several ways you can make money.
To list a few:-
- You can monetize your content using affiliate links in your content and email campaign. You may need to put affiliate disclosure and ask user consent when you collect email.
- You can sell your own products or service.
- You can put advertisements when you start getting enough traffic to your blog.AdSense ad network, mediadot.net and amazon shopping ads are some of the options you can use.
Dropshipping is a business model in which the retailer does not keep goods in stock, instead transfers the customer orders and shipment details to either the manufacturer, a wholesaler, or another retailer who then ships the goods directly to the customer.
The drop shipping business model cuts operational costs and it will let you focus on customer acquisition.
Dropshipping Save on money, time and effort
You save time, money and effort that could have been spent on renting a warehouse and storing the products and other related jobs.
Low startup cost
You don’t need to invest money creating or warehousing the product.
You don’t have an investment in inventory that might not sell.
It is Scalable
You can test and new products quickly without major financial risk
Better cash flow
Since you don’t stock the product, your cash flow will be better than the normal ecommerce business.
Enable expansion into new markets
Dropshipper can strategically partner with suppliers located internationally to take advantage of new markets.
Cons of drop shipping
The profit margins are very low and you may not get a big profit at the begging stage of the business.
how to start a dropshipping online business
Since dropshipping doesn’t require to stock or handle the items to be sold. It could be an ideal way to start a business for people who may have limited funds.
Starting a dropshipping business may not require lots of startup funds. However, you have to do lots of hard work and make wise decisions, since you are going to compete with retail giants with limited funds.
You can follow the steps below to successfully launch your dropshipping business.
Step 1: Select a niche.
A wide product range is difficult to market and compete. Selecting a niche that you are passionate about will help you achieve a better result when you are marketing.
when you select your niche you may have to target high-profit products, focus on products get active search, target products that are inexpensive to ship, create your own brand, target product that is not available locally, and also you should learn from others’ drop shipping success and failure.
Step 2: Do competition research.
Products without competition don’t mean it is profitable. Actually, most of the time it could mean there is no demand or very little demand.
it is better to choose products with competition than no competition. However, it is also important to avoid oversaturated competition.
Step 3: Get a dropship supplier.
Your dropship supplier can make or break your business. You should do your own proper due diligence before you decide to partner with a supplier. To find a supplier you can use sites like Alibaba, AliExpress, etc.
Step 4: Build your ecommerce website.
To build your ecommerce website you can use platforms like Shopify. Shopify has so many apps designed for dropshipping. You can use a Shopify app called oberlo which automates your dropshipping business, allowing you to make money while you sleep.
Step 5: plan a customer marketing strategy.
The main work of a dropshipper is marketing. To create a good marketing campaign you need to plan and devise a strategy.to market your store you can run a targeted Facebook ad campaign, invest your time in organic traffic from social media, perform SEO and Email marketing.
Having a plan to acquire your customer is very important since your success or failure depend on your marketing.
Step 6: Track, Analyze and optimize.
Track all the data and analyze it and as well optimize based on it .tracking your data will help you understand where your customer is originated and the path they followed to purchase your product. This will help you to scale what is working for you.
Courses to learn dropshipping
Build a Dropshipping Empire From Scratch Proven Blueprint, view course
The Complete Shopify Aliexpress Dropship course, view course
What are information products?
Information products are products that provide information value for the user. Information products can be digital or a CD, a DVD or printed eBook.
What Are Digital Information Products?
Digital Information Products are products like a video, an eBook, audio, a webinar that are delivered electronically as a download or membership website.
Why digital information products.
Easy and cheap to create
Digital information products are easy and cheap to create. Digital information products require little to no investment (money-wise). You can create them just using your time.
It generates passive income while you sleep
Info products are one of the best ways to generate a passive income for years after you produce them once. You may have to involve in marketing and customer service but that is much less hassle than keeping any brick and mortar business
Little cost to store and deliver
Since these products are digital. The server cost to store and deliver your video, audio, and digital files are very minimal. You are free from stocking and other related costs which is normal in brick and mortar business.
No barrier to entry
Anyone can do this job from any part of the world.
The cons of selling info products
Selling digital products can provide a good source of passive income which attracts lots of competitors, you will need a good marketing plan to win the completion.
Your Ideas can be copied
Your idea can be copied and may lead to more competition against your own product. Which requires you to regularly lookout for any plagiarism of your work.
With the digital product, you need to make sure your server is running 100% of the time.
How to start an online business that sell info products
Step 1: find your profitable information product niche
To find your ideal niche pick one of your best passion and Check if your passion is being mentioned and discussed in mainstream media like amazon, Facebook groups, eBay or online forums. If there is enough audience you can consider that niche to create your info product.
when you choose a niche don’t solely rely on your passion, because you are creating this product for somebody else, not yourself.
To create a successful information product you have to go to popular info product market places to check out the trends and research the most profitable niche market.
Check out sites like clickbank.com. you will get lots of inspiration to create your own information products. You don’t have to reinvent the wheel and create a market from scratch. Just join the already established market and create a product for that market.
You can consider creating a product in a sub-niche of the evergreen niches like health and weight loss, sports and hobbies, mental health, gaming, technology, relationships, and dating. (Warning these ever-green niches are competitive you better make sure you choose a sub-niche with less competition.)
Step 2: Create Digital Information Products
Create useful products that the prospects can’t easily find on their own. You can create different kinds of info products like how-to guides, strategies, tips and tricks, and case studies.
You can use Microsoft word, open office, Google docs or PowerPoint to create eBooks, magazines, printable and other similar products.
The cover page could be created using Canva or you can order service on fiver for as little as $5.
To film videos you can use HD camera or your smartphone. Once you have the raw movie you can use video editing software like windows movie maker for pc or iMovie for Mac.
If you don’t want to show your face, you can easily create a video using a PowerPoint or Keynote slide presentation and screen record it.
You can use your smartphone or Garageband for mac or sound recorder app on windows to create audio files.
If you don’t want to do any work yourself, you can hire a ghostwriter or you can interview others on gotowebinar, and sell the information as your own.
The other way to create your own information product is to buy private label rights products and rebrand them as your own. Update them as you see fit and put your name on the product then you can sell it as your own.
Step 3: Market your info products
Use all marketing opportunities like social media marketing, search engine optimization, paid ad, email marketing and combination of these methods to expose your info product.
Give away your best information for free in return to an email and build a relationship with your prospect using your email list.
Give away your best information for free on YouTube and build an email list
Youtube is a very popular social media where more than two billion people hang out, you can get lots of audience by creating helpful videos on this platform.
Remember you don’t own any of the social media you get your audience from. But, you own your email list. Building an email list is very important and you should start doing it from day one.
You can collect email leads using email autoresponders like getresponse. Put the link to your email opt-in page in the description of your video. And, encourage your viewers to click the link in the description to get your giveaway in exchange for their email.
Do email marketing
Build a relationship with your email subscriber by sending them free and helpful content so that they like you and trust you. After you build your relationship you can send them your offer and they will be willing to buy from you.
Step 4: Do Up-Sell?
Those people who bought something from you are more likely to buy again from you. You can retarget them with in-depth and higher-priced products.
Courses to Master selling info products.
Infopreneur: Create Information Products and Online Courses, view course.
A digital marketing agency is a marketing agency in the digital world. unlike traditional marketing, digital marketing delivers more quantifiable results and focus on return on investment.
These are the various types of digital marketing agencies you can start.
- Social media marketing agency
- Search Engine optimization agency
- Website design/management
- Content marketing agency
- PR/Influencer marketing agency
- Email marketing/DEM agency
- App design and build agency
These are some of the general digital marketing agency niches. Each and every one of this niche has so many sub-niches.
The pros of digital marketing agency
You can work from anywhere
You can do this business from anywhere in the world all you need is an internet connection and a computer.
You can make more money
You are in control of how much money you can make. The harder and smarter you work the more money you can make.
You acquire a new skill
You are going to learn marketing skills which can help you throughout your life.
You can get more family time
If you build your agency the right way, you can get more time and freedom to decide when to spend your time with your family.
The cons of digital marketing agency
Too much competition
Now everybody is an expert depending on your niche you can face fierce competition.
Digital Marketing can be damaged by negative feedback.
First impressions matter a lot and Negative feedback can hurt your digital marketing agency.
Lack of good human resources.
When you build your team you are going to need a skillful human resource which is challenging to get and keep as part of your team.
How to start a digital marketing online business
Step 1: identify your target market
It is hard to be good at everything. Specializing with one thing that you have familiarity with, is the best way to win the competition.
Ask yourself what is the one thing that you are good at and that can help clients? When you figure out the answer make that your specialization.
After identifying the niche that you are good at, you have to make sure your niche is profitable and not oversaturated.
If your selected niche is broad, you should niche down. According to Some gurus niches with 2000 – 10000 clients worldwide are good sub-niches. However it is hard to generalize, a lot is expected from you to do your own market research and to niche down if your niche market is broad or to avoid the niche if the niche is oversaturated.
Step 2: Land Your First Clients
To land your clients you can do content marketing that includes writing a blog post on your website, gust post on popular websites related to your niche or social media marketing which could be generalized as inbound marketing.
You can also use outbound marketing in which you reach out to people who don’t know you. Cold emailing and cold calling are typical examples of outbound marketing.
Step 3: don’t quit your job because you land your first client
Don’t hasten to quit your job, you need to build your contact list and skill before you quit your day job.
Or if you don’t have a job, try to find an online side job. Having a side job will save you from huge financial pressure that will force you to lose your hope of building your own business.
Running an agency business as a side hustle to your day job can be difficult, however, if you plan your time properly that will not be impossible.
If you have enough budget that you can use until your business makes enough money, you can dedicate your full time to your business. However, this is not the case for most people.
Step 4: build your client base
Keeping your job will help you to take enough time to create content and market the right way. The income from your side job will help you to have the confidence to avoid jobs that you don’t have to take.
when you start your business, it is good to work with small clients and as you work on more and more projects you build up skills to the level you can deal with big clients. as your client base grows so do your income.
When you have a good cash flow and good client base it is time to quit your job and dedicate your full time to your business.
Step 5: Build Your Team
When you start you may have to work alone or with few of your partners and outsource some of the work. Once you start generating enough cash you should focus on building a team to help you manage your time efficiently.
Building a team is very important to successfully scale your business. Having your own team will help you focus on finding and serving new clients.
Step 6: retain Your Best Clients
Retaining your best client is as important as gaining a new client. To retain your client you have to build a relationship with your best client. Ask them for feedback and improve your service based on your client’s feedback.
Courses on building a digital agency
How to Start Your Own Digital Marketing Agency, view course
Freelance business is a business in which you work on a contract basis for a variety of companies, having the freedom to pick and choose a project and a company that you want to work with.
What are the benefits of starting an online freelance business?
As you are the boss of your business you have the freedom to choose your own working hours.
Control over Jobs and Clients
You can control with whom you work and what you work. You are not going to stuck with bad clients or bad jobs.
You can make more money
You don’t have to work as a flat rate, you control your pricing and how much you work, and on what type of project you work small or big.
Work from anywhere you want
You can work from where ever you want as long as you have an internet connection and a computer.
The cons of freelancing business.
There is a learning curve
Freelancing business requires more than professional competence.it requires knowledge related to the organization of accounting, client accusation, networking, and negotiation, etc.
No work benefits
Work benefits like health and social insurance have to be covered by the freelancers themselves.
In case of not getting enough order or issues with the absence of payment can pose a financial risk.
A freelancer who works from home may feel lonely that could be solved actually by using shared offices.
How to start a freelancing online business
Step 1: select a niche for your freelance business
Select a profitable niche that fits your personal interest and talent. Targeting a particular niche will help you to specialize and win the competition.
To select your profitable niche you can visit freelance sites like upwork and fiver. Look at the niche on this site to get an inspiration to select your freelance niche. You may have to niche down if the niche is broad.
Step 2: Find a Business Name and buy a domain name
If you want to sell your business you going to need a registered business name and brand.to name your business select a name that is unique and something that fits your service.
Step 3: Create a website and start blogging
Having a website will help you to look more professional and it will bring you more customers. Have a blog section on your website and put quality content to do inbound marketing.
Step 4: Billing/invoicing
You can use accounting tools like QuickBooks to invoice and bill your client. You can also use Payoneer to invoice your clients from more than 200 countries around the world.
Step 5: market your business on social media
Be active on social media like Facebook, Twitter, youtube, linked in and etc. And, be helpful, List your portfolio and sample work on freelance site (don’t underprice your service), and Do inbound and outbound marketing to build your client base
Ecommerce also is known as electronic commerce refers to buying and selling goods or services using the internet, and transaction of money and data online.
Starting an ecommerce business is now easier than ever. However, the competition is really high and starting an ecommerce business is an investment.
You can reach a larger market
Ecommerce allows you to reach customers all over the world.
Lower cost to set up and maintain an ecommerce store
Ecommerce store cost a lot less than setting and maintain a traditional brick and mortar store
Cons of ecommerce
Price and Product Comparison reduce the profit margin
Consumers can compare prices of product easily and resulting merchants to compete on low-profit margins.
IT Security Issues
More and more businesses and organizations have fallen to hackers who steal customer information which poses a legal and financial risk.
may not be a passive income source
According to a survey by Ecommercefuel Ecommerce store Owners with stores over $5 million in sales worked an average of 51.7 hours per week.
How to start an ecommerce business.
Step 1: Research and find your ideal Ecommerce Niche
When you pick your ideal ecommerce niche you shouldn’t choose a broad niche. since you can’t compete with giant ecommerce businesses like Amazon.
Selecting a narrow niche is key to run a lucrative ecommerce store. Narrow niches with enough demand are easy to market and compete.
To select your ideal niche you have to skip any niches dominated by big brands and niches that are crowded. If your ideal niche has this problem you have to do your own research on the sub-niche of that niche and niche down if it is a profitable niche.
Niches with no competition don’t mean it is a good niche.it could mean there is no demand. Niches with completion are less risky than niches with no competition.
You can use tools like Google keyword research to research your niche idea.to conduct your research list a number of your ideal product categories with a minimum 1000 keyword volume and chose niches that do well on social media.
Step 2: selecting your business model
After you select your niche you have to decide on the ecommerce business model that fits your situation.
Based on the sourcing and inventory management of products ecommerce business model can be classified in to drop shipping, wholesaling and warehousing, and white-labeling and Manufacturing.
In Drop Shipping business model you partner with a wholesaler to supply your product directly to the customer.
In the case of wholesaling and warehousing business model you rent or own a warehouse and ship your product to your warehouse first then you ship it to the customer.
The white-labeling and Manufacturing business model involves outsourcing the manufacturing process to already established manufacturer but you put your name as a manufacturer in the label of the product.
If you are with a limited budget and don’t want to create your own product then the dropshipping business model is a better fit for you.
But if you are willing to invest upfront and if you can secure a better profit margin you can use wholesaling and warehousing business model.
If you want to manufacture your own product but if you can’t afford to manufacture it, then you can go with white-labeling and manufacturing business model.
Step 3: Product Selection
After you select the niche you have to select hot products in the niche. It is better to test before you invest.
You can use affiliate marketing to test if the product is profitable. For example, you can create content targeting toys and use amazon affiliate programs.
Step 4: Launch Your Ecommerce Business & build your Brand
Choose a unique business name .then, register your company and get your business license. After that, get your logo designed keeping the design consistent with your brand.
Step 5: always look for The Right Vendors and negotiate
To secure the best profit you have to look for the best deal by negotiating for a better profit margin. Always look out for vendors that can give you a better deal.
Step 6: Create Your Online Store
To create your store you can use one of the popular ecommerce software like Bigcomerece, Shopify or woocomerce. The platform provides a user-friendly interface that will let you set up your store without any coding skills.
Step 7: marketing
Marketing is one of the most important processes in the ecommerce business that determines whether you lose or profit. There are multiple channels that you can use to market your ecommerce store.to mention a few:
Email marketing – You should start building an email list from the first day and when you get enough subscriber you can send them engaging promo emails.
The other way you can market is using affiliate marketers on sites like click bank, jvzoo, and other affiliate networks.
You can also use a discount and free give away techniques to drive traffic.
The ecommerce business is dominated by huge ecommerce sites. If you can’t beat giant ecommerce business, why not join their market place. The marketplace is a type of ecommerce site where products or services are provided by multiple third-party vendors and transactions are processed by the marketplace. one best example of this market place is Amazon where third-party sellers sold 54 % paid units.
The Pros of starting online product Selling Business
You can work from anywhere
You have the freedom to work from anywhere whether from your home, cafe or while you are on a vacation.
You are in control of your time
You can decide what to do at what time and how much time you want to dedicate.
Lower startup cost
You don’t have to invest lots of money to start selling
It is not difficult to set up and maintain your business. And, you don’t’ have to worry about credit card fraud and IT security issues, since you are going to use already established platforms to build your store.
The Cons of Selling products Online
It may take time
There is competition which means it may take time before you establish yourself and earn a consistent income.
There is a learning curve
You can’t be a professional seller and win your competition on the first day. You have to invest your time in learning how to stay ahead of the game.
You may have to work hard when you start
To build a line of products that you successful sell online it takes lots of effort and time.
It may not be as passive as you may think
You may have to deal with regular sales, regular shipments, and regular customer inquiries and a lot more other tasks.
what step should you follow to start selling things online?
Step 1: pick what you sell
You have to pick your ideal product before you start selling. To select your product you have to consider the profitability of the product, demand for the product, and the intensity of competition.
To find your ideal product you may look into your hobbies, products that are complementary or related to best seller products on amazon, Alibaba, AliExpress, etc.
If you can’t have a better idea you might select a product in one of the following popular product categories: kitchen supplies, sports accessories, baby supplies, pet supplies, outdoor accessories, and other popular categories.
Step 2: find suppliers
To find the supplier of your chosen product you can search them on Google, look on platforms like Alibaba, AliExpressand, etc, you can use wholesaler directories like SaleHoo, 4WholesaleUSA
, etc., or you can try to contact your local wholesalers.
Step 3: set up your business
Find a unique name for your business and register your business. You may have to consult lawyers to make the best decision on this.
Step 4: choose what platforms to sell on
The choice of your platform depends on what you want to sell.
- eBay– for all kinds of product including used goods.
- Amazon (Amazon FBA)-for all kinds of the product (higher priced product than eBay)
- Etsy-for handmade or vintage items.
- Bonanza-for fashion and home decor
Step 5: market your product
Build your social media presence on social media like Facebook, Instagram, LinkedIn, Pinterest, Twitter. Start a YouTube channel and start blogging to drive more customers to your store. Use discounts and give away to attract more customers.
Vlog stands to refer to a type of blog where most of the content is in a video format.
The PROS. Of Vlogging
You can make good money
You can monetize your video using ads, affiliate marketing, and etc. (you can make $1-$5 for 1000 views)
Video content Increase audience engagement
Visual content in your Video increase customer or audience engagement.
Video Ranks better in search engine
You can use a YouTube video with an appropriate description and well-written title, to rank on search engines.
The CONS of Vlogging
It can consume time
To make your video perfect you may need to write script, record, edit and if things went wrong you may need director cut while production. Even some times you may have to re-record.
Vlogging may not be a good fit for some subjects
Some topics are presented well in a written format than in a video.
Making a good video is harder than writing a blog
A video blog is harder than a normal blog especially when you start, you may need to train how to control your voice, slang, and manner. And as well your dialect should be audible to your target audience.
Short attention spans
It could be challenging to deal with the short attention span of your users as the users want to know whether the video is relevant for them or not.
How to start Vlogging online business
Step 1: buy a camera
You can use a smartphone camera when you start, however you have to consider buying an HD camera to make a professional vlog. People are more likely to subscribe to an HD video than low-quality videos.
You have lots of options to buy a good Vlogging camera e.g. Panasonic Lumix DMC-G7M
You also need a good microphone, editing software (you can use shotcut for free), laptop, and tripod or lighting set-up.
Step 2: Create a YouTube channel
Youtube is the most popular website for vloggers currently.so create a channel on youtube. by clicking this link.
Step 3: film a Vlog
You may have to plan and write a script about what you are going to say in the vlog. If you don’t have any idea you can get inspiration by watching other vlogs. While filming you have to keep good lightning, good audio and interacting with your audience. Your first vlog may not be good however it will improve as you get experience.
Step 4: edit your vlog
You can use free or paid tools to edit your videos. For Windows “window movie maker” is a free option, for mac iMovie is a free option. You can also use paid tools that have better features to edit your video.
Step 5: Upload your videos to YouTube
Now you have to upload your edited video to YouTube. You are also expected to write an attractive title and description.
Step 6: promote your videos
Promote your videos on social media like Facebook, twitter, tumbler, and other social media sites.
Step 7: monetize your vlog
There are multiple ways to monetize a YouTube vlog:
- Using ads: ads will be shown to your viewers and you will get $1-$5 per 1000 views
- Affiliate marketing: you can put your affiliate link in the description section, and a lot more.
Start a podcast
A podcast is a word coined from two words “pod” and “broadcast” referring to an on-demand internet radio talks. “Pod” refers to iPod devices and implies that this content is portable. Broadcast implies the podcast content can be consumed like a radio broadcast.
Why start a podcast?
An audio podcast is easy to access and consume even while working or commuting. This increase the engagement and loyalty of the consumer.
Help in developing brand recognition
When the podcast is distributed on iTunes a large number of people can listen to it. Which, will increase your reach and customer base.
Increased social media engagement
When your podcast is shared online, your influence can be magnified.
It helps your SEO effort
When the consumer embeds the podcast link on their website you will be getting a backlink which Boosts your SEO.
Relatively less production Cost
When compared to video production, podcast cost less.
The cons of a podcast
It takes time and effort
Producing high-quality podcast on a consistent base takes time and lots of effort. Following a regular schedule is a priority to meet the expectation of your audience.
It requires resource
To produce a compelling podcast on a regular basis you need a quality microphone, good soundtrack editing software, and some hosting service and as well a persuasive content. Otherwise, you could lose your listeners.
How to start a podcast
Step 1: Select your niche (topic)
To select your niche you have to answer questions like why you want to start a podcast and who is your listener. When you figure out the answer to these two questions, you can find your niche and a particular topic to stick to.
Step 2: Consider Purchasing Equipment
You can start your podcasting business with just a computer, a microphone, and ahead phone. However, the quality of your podcast will not be that great.To produce high-quality podcasts you have to invest a little bit on higher quality equipment and better software.
Step 3: Record and Edit Your Podcast episodes
When you start recording you have to make sure the microphone is connected and working. And as well, you have to check whether the audio level is adjusted right.
And, after you record, you have to edit your audio using your chosen software. When you finish editing export your audio to WAV or mp3 file format.
Step 4: Submit your podcast on iTunes
You can submit your podcast to multiple podcast directories like iTunes, Spotify, Google Play Music, Stitcher, TuneIn, Spreaker, Blubrry, Digital Podcast, etc. However, you should focus on iTunes since iTunes is the most popular site.
Before you go to submit your podcast to iTunes make sure you have a valid RSS feed URL and apple ID, your podcast title, your hostname, podcast subtitle, podcast description, and podcast artwork.
Step 5: Market Your Podcast
Market your podcast by promoting your podcast episodes on YouTube, INSTAGRAM, Facebook, etc.
Transcribe your podcast and create an article, and optimize your article for search engine using the right keyword that your target audience is using.
Network with other podcaster and invite them to be your guest on your show.
Step 6: monetize your podcast
Monetize your podcast through various ways such as sponsorships, affiliate link, and directly selling your own products and services to your audience.
Develop a mobile application
The mobile app industry is growing every year. The revenue generated from mobile apps is expected to reach over 9935 billion U.S. dollars by 2023, which will be generated from paid downloads and in app-advertising.
The pros of the app business.
The potential market is huge and smartphone users are growing.
The app market is huge and the smartphone penetration rate is growing.
You can generate revenue.
As discussed above the revenue generated from the app industry is expected to rise 9935 billion U.S. by 2023.ap development may not be cheap. However, the revenue could be rewarding.
It helps you to retain your customers more than other channels.
It helps increase customer retention and loyalty as they have the app to directly contact your customer support.
It helps you increase your engagement.
Users spend more time on an app compared to the portfolio website. Also, apps load faster and hence engagement increases.
You can send a notification directly to your user’s mobile phone.
You can send notifications, like discounts and personalized offers to your users easily which increase customer loyalty and engagement.
The higher cost of maintenance
It requires a higher cost of maintenance especially when designed for each platform like Android, Windows, and iPhone.
Buggy apps could hurt a brand’s reputation.
If the app is buggy, the companies brand reputation could be affected badly.
Each additional feature or functionality increases the cost.
Additional features and functionality will make the app tougher increasing the cost to update the app.
You need to update the app constantly
As the technology is updated you need to update the app for both the technology and the content of the app.
How to start an app business
Step 1: App idea
If you have an app idea that will solve a problem for the user. Then you can start developing an app.
You can also look at app stores and online forums to find any problem that people are struggling with. And, you can solve that problem by developing your own mobile app.
Step 2: App market research and study your competitor
The next step is market research. When you do the market research you have to look at the latest trends, success stories, and failure stories too. If your app idea is profitable then modify your app based on your market research and build it. If your app idea is not profitable or not feasible change your app idea.
Step 3: App platform choice
Based on technical issues and how you want to monetize your app, you have to choose which platform to target. You can build a native android app, native IOS app, windows app or a cross-platform app.
Step 4: App development
To develop your app you need coders, designers, copywriters and based on your app you may need photographers as well.
There are multiple ways you can get the required skill and develop your app. You can hire a freelancer, hire a developer on a permanent basis, or work with development teams or companies.
Each and every one of these approaches has its own advantage and disadvantage. Hiring a freelancer Cost cheaper but providing future support will be hard or impossible.
Hiring a developer on a permanent basis save you time and money but finding the ideal person is hard
You can hire development teams or companies which offer you a good team, experienced programmers at a reasonable price.
Step 5: App business plan
A business plan helps you save unneeded expense and time. You need to consider the current market before you start planning. Your plan should include strategy and tactic to win the competition.
Step 6: App investment
There are multiple ways you can get an investment for your app. To mention a few, you can get a loan from your family members, friends, etc. , crowdfunding like kick starter, GoFundMee, etc. , finding a partner, and so and so forth.
Using credit is very expensive since the app business takes time to make money and also there are high competition and so many unknowns.
Step 7: Prototype and feedback
Creating a prototype will improve your app since you are going to take feedback without wasting lots of money.
Step 8: App monetization.
You can monetize your app using various ways.
- Advertisement: you can display different type of ads in your app. you can use ad networks like AdMob, Unity Ads, chart boost, and others.
- In-app purchases: you can use paid features or additional time to get revenue.
- Direct selling: you can sell products or services directly.
- Pro-version, you can design your app to have a free version with ads and a provision without ads.
- Combination of these methods: you can combine these methods but you should make sure that is not going to hurt your users’ experience.
Step 9: App marketing
You can market your app using social media platforms like Facebook, Instagram, Snapchat, Youtube or any other social media channels that you can get an audience for your product.
You can also use blogs and influencer marketing to market your app more effectively.
Step 10: App improvement
You need to continuously improve your app and update. You should take comments and feedback from your users seriously and add new futures or maintenance.
SaaS or Software as a service is a software licensing and delivery model in which software is accessed online via a subscription, rather than bought and installed on individual computers.
According to estimates by Gartner. The software as a service (SaaS) is expected to grow 20.1 percent to reach $46.3 billion in 2020. SaaS is one of the high earning potential online business.
The pros of SaaS
SaaS is easier and faster to develop and scale
SaaS is usually easier, faster and more cost-effective to develop, maintain, support, and scale than software that is installed on individual devices.
You don’t need to support multiple operating systems and devises
With Saas business model you need to support only multiple browsers, not multiple OS and devises which is a lot easier.
You don’t deal with customer local device issues
You don’t need to help your customers with local device issues related to installation and device-related bugs. You just update the code on your server and let it work for everybody.
It is a lot easier to spot and replicate front-end bugs
You can easily use tools like sentry and online support chats to spot and replicate front-end related bugs.
SaaS is easier to market and sell.
You can easily market and sell your monthly subscription than other business models.
You can easily predict your monthly and annual revenue
Based on your existing user base, marketing plan and churn rate you can easily predict your monthly and annual revenue with higher accuracy.
It is much easier to get a web development partner
Currently, it is much easier to find a good development for web application than for desktop or mobile application.
The cons of SaaS business
SaaS is easier to start but also hard to compete. You have to keep your customer a happy month to month otherwise you can be out of the game fast.
SaaS users are constantly on the lookout for better and cheaper service.
You have to make sure your service and pricing are the best all the time to keep SaaS users who are constantly on the lookout for cheaper and better services.
You can’t serve a client with a poor internet connection
You have to target the right customer segment with a good internet connection.
How to start a SaaS online business.
You can start your SaaS business with the following simple steps.
Step 1: Start with a simple plan
Start with a simple plan that answers what you are going to do, how you are going to do it, and your schedule that covers who is going to do what and when. You can use planning tools like LivePlan.
Step 2: Test your idea
Talk to your potential customer directly to check your assumption and adjust it with reality. Here your job will be to prove or disprove your assumption in the least inexpensive way.
Step 3: Create a minimum viable product
A minimum value product (MVP) is a version of a new product that allows you to conduct validated learning about your customer with the least amount of effort.
Your MVP could be even an explainer video. Drew Houston the founder of dropbox created a simple explainer video, explaining how the software was intended to work, which gets a massive interest, proving dropbox can solve painful problems of so many people.
To create MVP you may have to create Wireframes, Mockups, Prototypes, Landing page, and Explainer videos.
MVP save you from investing a huge resource to create products that nobody cares about.
After building your MVP you have to Forecast Your Sales, price your product or service and conduct SWOT analysis. Then, build your brand.
Step 4: legalize your business
Choose a unique business name and register your business. You need to incorporate your business in the right country with the right company structure by consulting a knowledgeable lawyer.
Step 5: Get financed
There are multiple ways you can get investment in your SaaS business. You can fund it yourself, borrow money from family and friends, pitch a venture capitalist or an investor for funding, or use crowdfunding like a kick starter.
Step 6: Build your product
Now it is time to build your product and build a landing page to collect contact information on the side. You should start small and start as soon as possible.
Step 7: market and launch your product
Launch your beta version of your product as soon as possible. If you wait until your product is fully developed it will be too late.it is better to get to the market when the product is usable and let users give you feedback.
To market your SaaS product you can use paid adverting, affiliate partnership, content marketing, social media activates and traditional Media.
Step 8: Start tracking your metrics and keep your financial record
Keep an eye on your metrics and financial record, improve your performance and prevent problems before happening.
Start trading in forex
Forex, also known as foreign exchange, currency trading, or FX, is a decentralized global market where all the world’s currencies trade with average daily trading exceeding $5 trillion. Anybody from anywhere in the world has the possibility to trade, including people who don’t want to trade with interest for religious or other reasons.
The pros of forex trading
Accessibility to the individual trader
The forex market is among the most accessible markets for individual traders around the world.
Potential for Fast Returns
The forex has more potential for faster returns since the market is fast-moving and has deep liquidity.
Fewer Fees and Commissions
Forex trading costs are determined solely by the bid-ask spread, which is the difference between buying and selling prices clearly published by brokers in real-time which makes it more transparent
Simple Tax Rules
Forex is subjected to simplified tax rules that make tax calculation easier.
Forex is well adapted for automation if you understand what you are doing you can use automated strategy to take advantage of day-to-day swings.
Un-expected volatility can make your trading strategies unprofitable.
Small traders face disadvantages
The bulk of the $5 trillion traded every day is done by the major players like banks, hedge funds and other big financial institutions that have a natural advantage in setting and influencing the market.
Lighter Regulatory Protection
The forex market is carried out on a decentralized exchange and no regulatory oversight which require traders a due diligence investigation on brokers reputation and the country they are operating.
Fewer Residual Returns
Forex trading aims at obtaining capital gains from appreciation of one of two currencies in a given currency pair that doesn’t have long term value like stocks.
How to start forex trading online business
Step 1: Understand the Language
Your first step should be understanding the basic languages used by the industry. The most common word include:-
- Base currency: the currency you are holding. E.g. US dollar.
- Quote currency: The currency you are going to purchase.
- Bid price: The price that your broker would be willing to “bid” or “buy” the base currency you are holding.
- Ask price: The price that your broker will “ask” you for in exchange for buying your quote currency of choice. The asking price is always higher than the bid price.
- Spread The difference between the bid price and the asking price. This is just the broker’s commission.
- Pip: represent “percentage in point,” It means the smallest measurable value of currency movement. A single pip is equal to 1/100th of 1% of your currency. E.g. if the US dollar rises by a single pip it means it increased by $ 0.0001.
Once you know the basic knowledge go ahead and read books and watch forex courses.
Step 2: Choose the Right Broker and train with virtual money
Before you start forex trading you need to choose your brokerage firm. You need to research and read the review of various brokerage firms.
But, before you start investing real money. You should try trading with virtual money on trading training platforms. Firms like forex.com, e-Toro provide trading training simulator with virtual money on live rates in real market conditions.
Step 3: Analyze the World Economy
Making money on trading currencies depend on your accuracy in predicting the movement of the global economy.
Trading involves converting the base currency into a quote currency set to rise in value, then converting back to your currency when the value peaks.
Step 4: Make Your First Trade
After you understand what you are doing, it is time to make your first move. You are going to place your order to buy a quote currency.
But before you place an order you should care-full decide which quote currency you are going to buy. The third step has a great role here. Since you have to choose the currency that will make you profit. After you decide the quote currency and the amount of money to invest, you place an order.
In most cases, your brokerage firm provides an online trading platform that allows you to place an order.
The specific of your platform may be different and you may need to view the standard market order execution.
Start an online stock trading business
Stock is a share of accompanying held by an individual or group. Stock is used to raising money for corporations by issuing partial ownership of the corporation to shareholders (stockholders).
The pros of stock trading
Stock ownership can take advantage of economic growth
As the economy grows it boosts consumer demand which drives revenue for corporate earning benefiting stock owners.
It helps to stay ahead of inflation
Historically stocks have an average annual return of 10 percent which is higher than the average inflation rate 3.2 percent.( This may change based on the rate of inflation)
Stocks are easy to buy and sell
Once you set up an account with a broker you can buy stocks in minutes and as well you can turn your stock into cash when you want.
You can make money
You can make money by buying low and selling high and as well you can invest in a fast-growing company your stock increase in value.
You could lose money.
If the company perform poor, the investors will sell the stock which plummets the stock price.
It takes a lot of time to research the profitability of the companies
Research each and every company to determine profitability and also it requires time to follow the company’s development in the news.
You run against professionals
Institutional investors and traders have time and knowledge. They know how to use sophisticated trading tools, financial model and computer systems. But you as an individual investor you have to learn on your own.
How to start a stock trading online business
Step 1: Understand stock trading
Stocks or “shares” are small pieces of a company. Stock can be bought by humans, companies, and mutual funds.
Stocks price reflects the value of the company and its outlook as determined by the stock traders. Stocks are traded on an exchange, such as the New York stock exchanges.
You need to read books and watch video courses about stock trading.
Step 2: plan your’ trading (long term or short term plan)
Decide whether you want to engage in daily trading or long term trading.
Daily trading is a short term trading in which you buy stocks at a low price and sell it at a higher price and it last in less than a day or within minutes. To trade daily in America you may need to maintain a balance of at least $25,000 in your account.
For Swing trading, you may need $10,000. Swing trading is a short-term trading strategy used by traders to buy and sell stocks in one day to two weeks.
For long term trading, you are not required to have a large capital. However, you need to plan.
Step 3: Find a broker and a trader platform
A broker conducts the trading transaction between the market participants. Allowing you to buy stocks and sell stocks.
To find the perfect broker you need to do research and test by opening a demo account.
Step 4: Practice before Depositing Money
Use the demo account with virtual money to practice placing trades. Try to formulate your own strategies and test your strategy. If you can’t make a profit with the fake money you should keep learning and testing. Make money with the demo account doesn’t necessarily mean you can make money with real money.
You need to understand risk management before you deposit money.
Start a print-on-demand online business
Print-on-Demand business involves offering custom made items like t-shirts, mugs, and household items with a custom design that will be printed on the products. Based on a forecast by Print on Demand Worldwide the print on demand market is expected to exceed £114.8 billion in 2022.
Why should start an online print-on-demand business?
Print-on-demand business is a lot better than other business in so many angles, here are some of the reasons.
Easy to set up and start running.
You don’t need to hire a coder, there already established plugins, templates, themes, and guides to set up and start running your store.
Very low startup cost
With the traditional business model, you need lots of cash before you start your business. But with print on demand business, you can start your business for less than $ 100.
No inventory management
Your print on demand supplier handles everything from order printing to shipping. This allows you to focus only on marketing and making more sales.
Scale and test as you wish
In print on demand business, you are not involved in the printing service and you don’t need to budget money to scale your business, which gives you the freedom to test, scale and modify your business as you wish without major financial risk.
The cons of print-on-demand
Less control over your product
Production and shipment are handled by a third party which means less control over your product.
No barrier to entry into print on demand business means more competition which requires you to do effective marketing
How to start print-on-demand online Business
Step 1: Choose your niche & products
Pick your ideal niche by listing things that you are passionate about.
Then narrow down your niche based on information from Google trend, Facebook, Twitter, Instagram, Pinterest, and Reddit and make sure the niche has enough audience as well.
Niches with many discussions, threads, and online activates are a good sign there is enough audience. There is no single formula that works all the time while selecting a niche. You have to do your own background research on the profitability of the niche.
The most popular product for print on demand product are t-shirts, posters, mugs, phone cases, hoodies, stickers, hats, and pillows.
To get a product idea you can visit sites like Amazon, eBay, or any other market place that list print on demand products.
Step 2: Get your designs and website ready
You don’t need to be an expert graphic designer to create a print on demand product. You can use design assets to create amazing graphic designs that will be printed on products. Sites like Creative Market, TheHungryJPEG, Freepik provide you design assets for free or at a reasonable price.
If you don’t have the time or the skill to create the design by yourself, you can purchase nice designs at a reasonable price from sites like Fiverr, upwork, and other freelance sites.
Next, you have to set up your website. A website is not mandatory to start a print on demand business since you can use open a store on print-on-demand platforms. However, having your own website will help you in the long run.
Step 3: Choose your print on demand supplier and add products to your store
You can use print on demand suppliers like Printful, Printify, Gooten, Print Aura, Inkthreadable, and Kite
Or you can sell without a website on sites like merch by amazon, Redbubble, TeeSpring Society6, TeeSpring, Zazzle, etc.
Step 4: Promote your store
Marketing is one of the most important processes to profit from print on demand business.to succeed with your marketing effort.
you have to set up a social media account on major social media platforms like youtube, Facebook, Pinterest, Instagram, etc. And focus on Joining forums and Facebook groups relevant to your niche. Post and share both entertaining and sales-driving contents.
Work with influencers, carefully use paid advertising, Optimize your store for SEO.
Step 5: Track your performance, experiment and improve.
Keep an eye on your metrics and always improve your performance. You should always experiment and try to identify products that work for you and focus on them.
The purpose of this blog post is to simplify the process of starting an online business and help you stop procrastinating from taking action.
Select one or two of these online business opportunities that you like and that you think it work for you. then, start taking action Right now.
tell us, your favorite online business idea in the comment section below.