Are You Starting A Small Business?
Here are 3 directions that can help you succeed in today’s digital business world. An online business can open the doors to a brave new world of creativity and marketing and provide you the ability to promote products at little startup cost and large potential for reward.
1. Affiliate Marketing: is a simple marketing arrangement by which an online business pays you the affiliate a commission for traffic or sales generated from its referrals, depending on the terms of the particular program. There are many types of online affiliate programs and the terms can be different from program, to program. The affiliate marketing concept can be applied to most any product from retail type consumer products that require shipping, to digital products that can be mostly automated.
Like anything there is work involved and nothing comes easy. Here are the pros and cons to take into account when thinking about starting an affiliate marketing business;
PROS: Affiliate marketing is simple to setup and you can become a reseller instantly with most affiliate programs. With low startup costs, you can earn a profit by selling just a few affiliate products in many cases. With affiliate marketing you have a very low operating cost and usually just occur domain name and hosting charges. Marketing costs should also be taken into consideration. With the ability to get started with limited-to-no-capital your risk is very low with affiliate marketing.
CONS: Affiliate marketing can be a lot of work, and in most cases you will face a lot of competition so you’re not going to be bringing in money instantly, it can take time. Like any online business you need to build an online presence including your social media, content writing and basic search engine optimization. Simply said, affiliate marketing like any business, requires hard work, you can’t just sit back to reap the benefits without the work.
2. Sell your Own Products: Choosing to sell your own products online can be very profitable and a smart decision. One of the first things you will require is a credit card merchant account to accept online payments and have the money deposited into your bank account. The products you sell are anything you create under your own steam. You can sell your art creations, paintings, writing skills, handmade items, and just about anything you have an interest in creating. Do some research and make sure you have a marketplace for your unique skill.
Here are some pros and cons to take into consideration when selling your own products online as a business;
PROS: Selling your own products and creations, if you enjoy creating the products you will be selling then typically you’re going to enjoy the business you will be building. This might be the most important point factor to consider overall. Another benefit is low overhead because you yourself are the artist and creator of the product being sold. This can be an excellent side business to grow over time and one you can thoroughly enjoy.
CONS: Something that you put work into and enjoy creating really doesn’t have much downside. One problem with selling your homemade creations is you can only produce so much. However that may be a good problem to have and you can then increase your prices to meet the new demand.
3. Virtual Assist Jobs: VA jobs or, freelance work. If you have any skills to offer like programming, writing, consulting, proofreading, language translation, bookkeeping, appointment management, record keeping, email marketing, client or customer follow up, telephone sales, tech support, customer service, research, social media management, social media setup, manage WordPress blogs, support ticket help, live chat assistant, data management and more.
These types of skills can start making you money quickly and using websites like freelancer.com your money is held in escrow so you always get paid. Freelancing websites like these also provide a vast network of eager companies and individuals that are actively searching for your specific services.
PROS: VA jobs, are easy to get started with freelancing websites if you’re ready to offer your skills. Get paid easily for your service and you can set the rate you charge. Enjoy working at your own pace and build repeat clients and ongoing relationships. This is an excellent way to get paid for your time now, and not have to take the risks involved in growing a startup or online business.
CONS: There is much global competition for VA’s and it can be difficult to be competitive with your hourly rates against someone in a country like India or Cambodia. Don’t let this discourage you as many companies and individuals like working within their country for many reasons and be firm from the start on your work value and hourly rate.
Starting A Business Is Not Always Easy..
Big satisfaction in being able to act upon your hunches, make guesses, and to simply – just do it. If you want to succeed in business you first must take some risk and spend money. Many business owners talk about owning a business as the key to job satisfaction. It’s true, when you’re the boss, you do own it. Not having to ask anybody can mean a great difference in the satisfaction you can achieve for your success. The first step is getting started with your merchant account then create a product page. Best of success!