Tuesday, November 20, 2018

Decide on an Online Revenue Model to Start With

In my previous blog post, I did an overview of how to start your own business online. As a guide, I did list the basic steps to follow to get you started in earnest. In today’s blog post, I will discuss various forms of online revenue models and you can then make up your mind on the type to start with.

I have to emphasize that your choice of a revenue model should be mainly based on your passion, experience, knowledge or willingness to learn the secrets of any online business opportunity you are pitching tent with. On top of that, the niche market and/or your potential customers will also influence your choice. This is the only way you will see your work more of fun until you start making money online.

Broadly speaking, you can (i) sell products or services online, and/or (ii) offer web services for a fee.

Sell Products or Services Online


Selling of products and services on the internet can be in two ways. The first type is to create digital product or service yourself, build a website to sell it and then drive targeted traffic to it. In this case, you are expected to be an expert on a specific subject or topic which your potential customers are earnestly searching for solutions to solve.

It doesn’t matter whether you are creating physical or digital product. What matters is the ability of the product or service to solve the specific problem your target audience is having challenge with.

However, you don’t have to worry yourself if you’re a newbie without a product or service to sell as your own. You can become an affiliate marketer for someone else’s product or service and make money online in sales commission. That is, every time you make a sale through an affiliate link given to you by the merchant you are promoting, you earn commission. Your affiliate commission can be fixed or as a percentage of the selling price.

Offer Web Services 


Offering services on the internet simply means selling your skills, talents or efforts for a fee when you deliver value to your clients. What are you good at? Is it marketable or sellable? Will people willingly pay you when you do such service for them? These are the pertinent questions you have to find honest answers to before you start offering any web services to your target niche market.

For instance, I am a freelance content writer for hire. I write blog posts, landing pages, guest posts, newsletter content, ghostwriting services, etc, for my clients. Every time I finish creating value for then, I get paid to write. So, freelance business of any type falls within this ambit of web services offering.  These include freelance writing business, web design, graphic design, brokerage, membership site coaching, just to mention a few.

Now, I will list and explain some of the popular online revenue models you have to consider starting with.

Create and Sell Digital Information Products or Services


Selling information products and services on the internet is big and lucrative business. Your profit is almost one hundred percent if you create the product or service yourself. A lot of internet entrepreneurs are making full-time income from creating and selling info products digitally. The smart entrepreneurs even take it a step further by recruiting army of affiliate marketers to do the promotion and selling for them. Affiliates are only paid when they successfully close every sale. So, payment is based on performance i.e. no sales, no commission.

For instance, you can create and sell an ebook on a subject you know something about. The basic steps will follow this:

1.    Determine a niche market you wish to target for your electronic book.
2.    Research a problem which your target market desperately want to solve or desire to satisfy.
3.    Assess the volume of potential customers to determine if it is worth the time and efforts required to create an ebook to sell. You can do this with keyword research tool and/or niche forums.
4.    Create an outline of your e-book from your research above.
5.    Write the draft of your electronic book using the above outline as your guide.
6.    Proofread and edit your work to make necessary corrections and revisions.
7.    Convert your ebook in document format to PDF to make it easy for your customers to download.
8.    Write your sales letter to sell your product or hire freelance copywriter.
9.    Register a domain name to sell your ebook or sign up with platforms selling ebooks and list your ebook for sale at a fee.
10.    Sign up with reliable web hosting service provider if you are selling from your website. Thereafter, upload your materials for easy downloads by your customers.
11.    Upload your sales letter on the landing page after integrating your preferred payment processor such as PayPal.com to take payments from customers.
12.    Drive targeted traffic to your website and make money online.

To be frank with you, the above steps are easier than you think. You can do it! I have created and sold ebooks in the past. If you are not selling ebooks online, you can create software, develop an app, create tutorial videos, etc to sell. It is all about knowing what you are good at and doing it to make money on the internet in exchange for value.

Advertising


Advertising is an online revenue model that requires you to own one or more websites with lots of quality content published on it. Over time, when you start getting volumes of targeted website visitors from search engines, you will then place adverts in strategic places on the site such as the side bar, above the fold, and so on.

You can get adverts to place on your websites by signing up with contextual advertising companies like Google Adsense program which will enable you to get codes to place on your website if you are approved. You can also sell advertising spaces at strategic positions on your blog. With constant traffic coming to your website, you can be rest assured that business owners will approach you to sell advertising spaces to them.

Affiliate Marketing


Affiliate marketing is simply promoting and selling merchants’ products and services for a commission. By signing up with a merchant and getting specific code for a product, you can be identified with every sale you are able to close.

There are thousands of merchants who have put in place affiliate programs for willing and able affiliate marketers to make money from. There are also affiliate networks too that create platforms for merchants and digital marketers to sign up and sell their products. Clickbank is a popular affiliate network program where affiliate marketers can sign up and make money online.

Buying and Selling Domain Names


This is a simple online revenue model to start with but it requires foresight on your part in order to buy and sell domain names for profit. You can hand register or buy expired domain name for resale. However, in domain investing you must think like your potential customers before picking up any domain to resell. If you cannot think of any feasible business idea for a name, don’t buy or register it.

Here are some of the questions to ask yourself before registering a domain name. What can my potential buyer do with the domain? Is the name rich in your target market’s keyword phrase? If the domain has expired or dropped, is it still indexed in Google search engine? Is the cost per click (CPC) for the keyword in the domain high? What about the traffic ranking of the expired domain? How much is similar domain names sold for in the past?

In conclusion, there are other online revenue models like membership coaching and mentoring, freelance business, drop shipping, and so forth. In my next blog post, I will discuss how to set up a blog website to reach out to your target audience. Stay tuned!

Saturday, November 10, 2018

How to Start Your Own Business Online and Succeed

In this age of information technology, there are no hard and fast rules on how to start your own business online and succeed. In short, you only need a good business idea or model, write a business plan to guide you and possess the technical know-how to operate your website successfully on a daily basis. Funding your startup has become a secondary issue because there are various ways for any aspiring internet entrepreneur to access business capital in today’s global economy.

Before I go into the nitty-gritty of starting your own online business, I want to remind you that you are not going to succeed in your enterprise on a platter of gold. You must be ready to invest sweat equity in order to take your proposed business from idea phase to the marketplace. So, there is lots of groundwork for you to do in the early days of starting your blog or website.

First and foremost, you have to decide on the type of product or service to sell in the market place. This decision will solely depend on your target audience’s needs, problems, desires and wants. You don’t want to offer a product or service which nobody is interested in buying from you. That will amount to gross waste of time and scarce resources on your part.

You can start your own business online in different ways depending on your passion, experience, knowledge, skills, and so on. But the most important thing to bear in mind is how well your target market will receive the product or service which you have to offer. This is why market and keyword research are paramount and inevitable to your success.

Good enough, there are online business and marketing tools that can help you to discover business ideas, the kind of problems a market is facing and searching for solution to solve and even the number of people who may become your potential customers. As an online entrepreneur, you can start building relationship with your target audience before creating your product or service to sell by making use of simple list building software.

It is not advisable to take a leap in the dark as you are searching for information on how to start your own business online. It requires due diligence and a detailed written business plan on exactly how you wish to succeed in the long run.

With that said, I’ll be going through all the basic steps on how to start your own business online and succeed with little money investment. I may not be able to publish the whole steps in one blog post but in series of blog posts. You have to bookmark it and follow up as I reveal all the online business success secrets you need to make money on the internet.

Steps to start your own business online will be discussed in the order below:

1.    Decide on a business model to make money online
2.    Find a problem to solve in a market
3.    Set up a blog or website to reach out to your target audience
4.    Set up list building software to build an email list of subscribers
5.    Drive targeted traffic to your blog
6.    Demonstrate you are the expert to go to in your niche market
7.    Make money online, analyze the numbers and make improvements

The above 7 steps are what I will take you through in this series of blog posts. If you don’t have more than $10 but time to start your own business, this tutorial is for you. Stay with me and you will be glad you did!

Thursday, August 23, 2018

Top 5 Ways to Turn Your Blog into Profit-Pulling Business

I guess you’re aware that starting a business and running it profitably is hard work especially when you are doing so on the World Wide Web. But I can tell you that there are better ways and strategies to start an online business and make it profitable in record time. From this blog post, I will highlight and discuss top 5 ways to turn your blog into a profit-pulling business in a matter of months of dedication and focus.

It is never too late to get started. Even if your blog website is not making a cent right away, you can still turn the table in your favor. It’s all about knowing what to do and doing it right and at the appropriate time. Making money online doesn’t need to be hard. Majority of aspiring internet entrepreneurs complicate the whole business model for themselves. All what you require to succeed is to create value and place it in front of your potential customers who have need for it.

I am going to discuss five simple ways to get you started and hit the ground running.

1.    Publish Content on Your Blog Regularly

There is no gainsaying that content is king on the internet. It can come in various forms such as blog posts, articles, videos, webinars, podcasts, and so forth. But what is the most important is the quality of your content. If you create content that keeps your readers keyed up and makes them to pass it around, you will hit web traffic jackpot sooner than you expect.

You may want to ask, how can you create quality content which your potential customers can pass around on the web? You can write articles yourself if you are under a tight budget or you have knack for writing. The second option is to hire a freelance writer and let him do the grunt work for you. In this second option, there is no need for you as the business owner to start researching ideas of what to write but simply commission your freelance writer on the brief of your expectations. As a freelance writer myself, I write SEO articles and blog posts for my clients in order to give their blogs a head start.

2.    Set Up List Building System on Your Blog

According to internet research statistics, there are millions of websites and blogs on the World Wide Web. For your blog to stand out from the crowd, you must be doing something uniquely different and on target too. Unfortunately, majority of blog owners are constantly seeking the attention of their readers in any given niche market by using cut throat methods!

How can you succeed in such a competitive market environment if you don’t want to use underhand methods to get results? The simplest way is to gradually build a tribe of followers who you can regularly communicate with over time. To do this successfully, you need list building software from reliable email service provider (ESP). Now, it is super easy to set up list building system on your blog by integrating simple code that will be given to you by your chosen ESP.

There is Email Service Providers (ESP) like GetResponse, Aweber, Amazon SES, etc. They have slightly different price points with unique selling points as well. The most important thing to do is to see which ESP fits your desired entry point budget. I know GetResponse offers free trial through this link when you are getting started.

In order to build an email list of subscribers seamlessly, you have to create a product to give away for free which should solve specific need or problem for them. You can create an ebook or record a video which teaches your audience something unique. It is not a difficult thing to do as there are free tutorials available online to read or watch.

3.    Selling Products and Services from Your Blog

The good thing about starting a business blog on the internet is that you can do so many things from it in order to make money. You can create your own product or service and start selling it or simply sign up with an affiliate program which ties in to what your blog content is all about. It becomes easier when you have list building system in place before you start selling your product or vendor’s. 

Lots of blog owners have avalanche of products to create including electronic books, webinars, podcasts, videos, audio, just name it. However, the best thing you can do to your online business is to focus on quality and not quantity.

4.    Generate Constant Blog Traffic

Even if you have stellar content published on your blog, or you have integrated list building software, or you have your product to sell, or vendor’s product to promote as an affiliate marketer, without constant and targeted website traffic, all your time and efforts may come to naught.

The question to ask now is, “How can you generate web traffic to your blog on a regular basis?” There are many blog marketing methods which you can apply right away to get results. It includes guest blogging, article marketing, social media marketing, just to mention a few.

If you are not comfortable with marketing your blog to generate constant web traffic, you can outsource it by hiring virtual assistants or freelancers to do it for you. But you have to be sure of the reputation of who you are contracting for this purpose. Also, you can hire a freelance writer to do strategic guest blogging for your site which should guarantee you both valuable backlinks and targeted visitors.

5.    Test, Track and Improve Your Website Activities

I believe if you don’t know where you are going, you won’t know how to get there. In other words, you are expected to test and track every web site activity in order to know how and what to improve upon. There are free and paid online tracking software available for you to use. One of the most popular software is the Google Analytics.  You can create a free email account and use it to sign in to Google Analytics. From your account dashboard, you can generate tracking code which you will copy and paste in the header section of your html source code.

You can even take it a step further by registering your blog with Webmaster Tools through the Google Search Console. As soon as you are able to set it up properly, it will help you to further analyze your web traffic in detail including the keywords or phrases which your visitors are entering in search engines to find your blog as well their locations.

Sincerely, there is so much you can do that will help you to turn your blog into profit-pulling business if you have a plan in place and you are also determined to follow through it and succeed. For instance, by quickly looking over your shoulder and spying on your competition from time to time can spring viable business ideas which you can implement. 

If you ask me, the World Wide Web is a level playing field for everyone; you only need a bit of creative mind to be step ahead of others. Are you ready to take the leap and succeed? It is up to you!

About the Author
Oseremen Aigbokhae is a freelance writer and the CEO/Co-Founder of StandOutWriter.com. You can click here to hire him for your content writing jobs and you will be glad you did!