Money Making Methods
Affiliate marketing is one of the quickest and easiest ways to get started making money online. You simply promote other people's products and/or services and make a commission off of the sales. You can incorporate affiliate marketing across all of the platforms you use, making your marketing more effective.
A blog is a website where you share your personal experiences with products or services. Using a service like PrettyLinks ensures your links are always earning you commissions.
A vlog is a video blog. YouTube is the most popular platform for vlogging.
Social media influencers make money through affiliate marketing when they share products and/or services with their followers.
E-commerce is the selling of goods on the internet. You can sell your own white label products, wholesale products, or dropship items from wholesale vendors. Shopify is the leading platform for setting up your own e-commerce store.
Dropshipping is when you sell products that you don't have in inventory. Once a customer makes a purchase, you then buy the product at wholesale and the vendor ships the product to the customer.
White label is the selling of your own branded products that you keep in stock. It's possible to get started with very little stock up front.
Amazon FBA is where you sell your own private label products or wholesale products on the Amazon marketplace and Amazon manages your inventory and ships your products.
Digital Products like courses, e-books, and memberships are another great way to make money online. Your profit margins are typically higher than they would be selling physical products, and there are a lot less overhead costs.
If you have knowledge or experience in anything that people want to know, you can package it up and sell it in the form of a digital course.
A paid membership site can be where people pay for coaching, community, or access to exclusive content.
Kindle e-books are digital books that people purchase on Amazon. Because it's not a physical product, your profit margins are higher than they would be with a hard copy.
Where Should You Start?
If you're not sure where to start–start with following your gut. That first little push you feel towards something. Trust it. Don't have that? More of an analytical, weigh the pros and cons type? That's fine too! Here's what you can do to decide which path, or paths, to take in your online business journey.
What are you already knowledgeable in?
Use that knowledge to your advantage. If you have experience in physical products, then e-commerce is probably right for you. If you know how to build a website or blog, then affiliate marketing may be a better choice for you. If you have taught people in the past, or written a book, then digital products might be your best option.
What are your skills?
What are you already good at? Can you teach? Can you design products? Can you build websites? Are you a great copywriter? See how your existing skills fit into these categories. Or, if you're looking to expand your skill set, go with something you're not experienced with yet!
What could you see yourself doing?
Use your visionary skills here and try to see yourself in the future. What do you see? What are you doing? How are you doing it? Online businesses aren't just high turnover businesses–they can be the real deal. Don't get into something you don't want to do long term. Instead, focus on what you would enjoy doing, and follow that path.