Home » Best Way To Set Up An Online Business And Make Money With It

Best Way To Set Up An Online Business And Make Money With It

Although, online business has been under the control of the following; Amazon and eBay, but there are chances for solo internet entrepreneurs to establish a lucrative online business.

So, know it today that there is a place for you in the market no matter your specialization, industry, or your product.

It is true that it not easier for one to set up an online business yet make huge profit but there are a lot of tools, proven strategies and services obtainable to online entrepreneurs.

The chance of making profit I must say, is rapidly increasing on online market. And this is as a result of the following factors:

Nowadays, a lot of people shop online.

This has been proven to by watcher Mintel, that 69% of Americans shop online.

Also, one can set up an e-commerce website and control it using the available online tools and software. And this can be done for $100.

Lastly, marketing is easily done online since; marketing online is inexpensive and easy. Of course you can market you goods online using any of the available social media platforms. Example: Facebook.

Having read this, I know you will be asking this question what can I do for a start, to make this huge income.

We have below a step by step guide for establishing your own online business so, worry not for here are the answers to your questions.

  • Choose a Lucrative Market

I know you must have had a dream business in mind for years. You may only know that a particular business is lucrative but, as soon as you carry out the necessary market research then you can tell if it is so.

This research I must say is very important, if you really want to avoid waste of time, money, or capital.

Most importantly, know the niche that is admired the most and the type of product before you begin business. 

So, do not go for an online business that has a short term effect, rather take those having long lasting power, a consistent online business.

Examples are:

  • Travel
  • Pet care
  • Video game
  • Photography
  • Exercise programs and weight loss
  • Nutritional supplements and natural cures

Luckily, there are ways of fishing out a hot market, one of these method is to consider online retailers such as Amazon.com; to know what sells most.

Lockout for latest news: get magazine and newspapers to for latest business news. With these mentioned above, you have clues on finding a good lucrative market.

  • Affiliatet Marketing

The second one is affiliate marketing. This has to do with determining the price for your product but this has to be after you must have chosen your hot market.

So, affiliate marketing is a way of making positive changes to existing products using a trusted track record for profitability.

Using affiliate marketing, you are rest assured that your product will sell and as a matter of fact, you do not have to worry about storage, delivery, refund, customer service, managing orders or other traditional aspect of retailing.

An advantage of affiliate marketing is that it allows you to use your e-commerce site, in marketing and promoting your product. While the company that produces the goods or the online retailer does the rest for you. 

Most of all, as an affiliate you will be given commission of 5% and above anytime someone purchases your goods but, this will be based on your product. 

You can see that you stand a chance to gain a lot if you are an affiliate.

Like Amazon, it has a nice affiliate program and comes with large variety of products.

Clickbank.com specializes in information products, but they have product of theirs too. 

And on Commission Junction, know as CJ Affiliate by Conversant you will find big-name retailers. Search online to know if any affiliate program suits your business because, every niche and industry has an affiliate program.

  • Additional Sources of Gainful Products

Sincerely speaking, affiliate marketing is the best way to start your online business. It might even be your source of products; this model has potential to be lucrative and can be scaled up easily.

However, there are a lot of ways to get products, even at low financial investment.

You must have heard of drop shipping, this is similar to affiliate marketing and you can sell products from other companies, when you process orders.

So, whenever the product arrives, you can send it to drop shipping partner {who might be a wholesaler or the producer}.

But, you will have to pay them if you really want your goods to get to the final consumer.

And you make money from what you charge as price and that which you pay the drop shipper.

Also, using the white label products you can partner with a company that has manufactured product. All you have to do is to place your name and branding on it. As usual, the online business model is added to the drop shipped goods.

They following product are hot niche for white labeling; medicine, supplementary and other related health product.

If you wish, you can establish your own products. But to establish a physical product you need a huge investment that requires no guaranteed return.

Creating information products like; ebooks, audio programs videos and membership website, is a less risky way to sell your products.

Example; let say you were in an organic gardening niche, you can record a video  displaying the best method of controlling pest without the use of pesticides or take a record of the special report on growing apples using your ebook .

For electronic, it can be stored on a hard disc or in the cloud storage before it is been sent to the internet. And this makes it cheap and simple but enough time and knowledge is required.

  • Be in Full Control over Your Website

Thirdly, creating a website is necessary but, if you wish to create your own website, do it in such a way that you will be having full control over it.

Fortunately, you can create a website of an expert be it blogs, shopping cart, list building capabilities and all that is required for your online business, using the software and online program and services available.

Therefore, you do not have to be an expert before you can create your online business website.

To design your website is very easy. Those who are able to send email, can create a website.

In addition to that, you can update and make changes to your website without the required knowledge of web development.

  • Set Up a List and Promote Products Using Email Marketing

Every goods produced must be sent to the final consumer. But, how do you get these goods across to those who are in great need of it?

First try finding interested customers, get their email and sell to them. There are a lot of ways to build your email list. By list I mean writing the names of interested customers.

As soon as your list is ready, you are to start selling your products. However, this is not like the sales day by day offer. And people might report you as spam or unsubscribe.

Do not forget to give valuable information to your customers. Make available to them many freebies such as tips and tricks associated with your niche.

As this will make them trust you the more. In addition to that you can give them latest valuable information in a newsletter.

This can be done in your special report, video and audios, ebooks, blog and Facebook posts.

I know you might want to ask, is this necessary?

Yes it is. As a business Man or Woman you are to do everything you can to sell your goods.

Therefore, you can give them valuable information and at the same time advertise your goods.

It is necessary that you tell them the importance of your goods and not just sending them an order form.

Tell and give them a picture of how improved their life will be as soon as they start using your products (I mean figuratively).

Proof it and give persuasive or special offer that will make them buy your product. Sincerely speaking, a lot of people prefer goods that come with special offers.

For that reason, do it with effective sales copy. That is using words to make consumers purchase your goods.

Note that this should be used in every communication with customers even on your social media posts, emails, paid ads or you website.

Those who wish to write theirs should study copywriting and marketing techniques, based on direct-response marketing.

You can get a great deal of information about this from groups like the American Writers and Artists Inc and Copyblogger.com. Optionally, you can hire copywriter via websites like Upwork.

  • The 4 Best Ways to Inform People about Your Online Business

Social media;

this is one of the cheapest way to inform people about your online business and set up list.

Using Twitter, Facebook and other social media platform, assembling a free account and posting content related to your business is easy.

And this should be a both the necessary and actionable content, and personal invitation to visit your website and sign up for the list (or buy your products).

So, post valuable content regularly, as this helps greatly.

Second, by adding valuable content either written or video about your niche to your blog or/and website.

As this can attract search engines like Google.

The good work of this search engine optimization (SEO) will help to increase traffic to your website whenever people search for information on that which you have written and it videos. And some of them after getting what they want will be willing to sign up for your email list.

So, it is important to have sign up box where interested person can submit their name and email address on your homepage.

Also, this should be done frequently, and you are to give new valuable information weekly or daily.

Let take it this way, you have a yoga-focused business. So, you can write on trends, comment on yoga related stories and yoga style, and review yoga DVDs.

Begin a conversation with your scenario then give necessary information. But, it should be what your customers are looking for.

Thirdly, you can adopt the paid advertising method.

These have to do with inserting ads, banner ads, pay-per-click ads and others. Besides it can be expensive but you can go for it if you can.

However, I prefer free ways of making your online business known, for the very first time. Set up your website as you want, make it the best and begin to make sales but your product mix should OK before you do so. And as soon as you have the money you can make use of the paid ads.

Additionally, you can make your products known by using YouTube. I must say, that YouTube is one of the worlds best search engines; many tend to use it whenever they have a question about a topic.

An opportunity, take advantage of it; post explainer videos, teaching video where you give in details everything about a topic that is related to your niche and other how-to videos.

It is not that hard just give valuable details and add a link that takes them to your website.

Lastly, this is just a break down course on how to start up your own online business. It is not that hard. Try it.

Moreover, it may take time and effort, and you are to make some tough choices when the need arises.

But be mindful of the fact that, it is for your online business, do small each day, let it be in order; know your market, your product, build your website and start marketing.

Because, with it you could put together a solid foundation for a long lasting online business this will give you income even in years to come.

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