New online business? What do you want to do? Starting an online business can be one of the most exciting experiences of your life. It can also be the most confusing if you’re not sure what kind of business you’d like to have. There’s a popular saying that says, “Don’t put all your eggs in one basket.”
Diversification is the name of the game
That means you need to make sure that your online income doesn’t all come from just one source. A way that you can diversify that source is to start selling info products. You can create an information product in as little as a day, depending on what the product is.
Why not create your own product? Write an eBook
One of the best info products to sell is to write and sell your own eBook. You need to write an eBook on a topic that people are searching for information about. The topic can be one that you’re deeply knowledgeable about or it can be one that you become knowledgeable about by researching the information you need to know. Other than eBooks, you can also create online courses or workshops sharing your expertise.
Earn income by using Affiliate Marketing
You can also promote products as an affiliate. You find a product that you believe is good and will sell well. Then you begin to promote it for a commission. Promoting just means that you’re raising awareness about a product by driving traffic to it.
You can promote products without cost to you and many people find this type of an online business one of the easiest to break into. You can promote products by authoring articles about it and submitting them to article directories. Also, you can write a blog about it, promote it on your own website or on any of the common social sites such as Twitter or Facebook.
Make a membership-based website online
Many budding entrepreneurs create membership sites. A membership site means that you get paid to pass your knowledge onto others. Here’s an example:
Let’s say you’re an expert on how to fix computers. You set up a site where people can log in and get access to answers to their questions, they can participate in a forum there, etc.
Once you’ve gotten the hang of how to set up and profit from your membership site, you can turn around and teach others how to do it by writing a how-to eBook or by setting up a course!
Do you have skills? Sell your time and talent online
Another way you can launch an online business is by offering freelance services. Freelance just means that you are your own boss – you can take on the gigs you want and turn down the ones that you don’t.
There are so many ways you can branch into having an online service business. You can do graphic design work, build websites, edit what other people wrote or you can author articles from scratch for other people.
What’s great about all these businesses is that start-up costs are often cheaper than buying a meal out! To get started, you need to set up a website and you need a way to accept payment (PayPal is a wonderful way to do that).
Fiverr is a great platform to advertise your freelance services and is great for folks that want to outsource smaller jobs.
Once you begin to get to work and build your reputation, you’ll be able to take your pick of the kind of jobs you’d like to take on. One word of caution, though – if you don’t take a freelance job through an online service that matches jobs with those seeking them, make sure you define the work you’ll be doing in email or message board documentation so that there are no surprises down the road.
If you want more tools, check out our Resources Page.
More resources online
If you are looking for guidance for starting a business, as well as Affiliate Marketing, ENTRE Institute has several different training programs, including peer and social network coaching. You can also get one on one coaching as well.