Work routine has made many miserable. No matter how you love your job, working eight hours a day and five days a week can suck out the life in you. Also, financial freedom is dim. Most full-time workers live from paycheck to paycheck. There is not just enough time for the things that matters most. It makes you so mad you want to quit your job. Try putting up an online business.
Online businesses need low capital to put and pay promising returns. Once established, it can be a great source of passive income.
The internet has given us access to millions of customers. Many consumers are moving from shopping mall the comforts of buying online.
At the least, you only need to invest on a computer and an internet connection. You can do it at the comfort of your home. No need to pay rent, hire employees, and buy expensive equipment.
Once you get the hand on things, create a system that will run your business almost automatic. Let me seduce you with these online business that made millionaires in their pajamas.
Publishing a Book on Kindle
About 33% of books sold in Amazon is published by independent individuals last 2014. With more than half of a billion books sold that year, that is a lot of books sold by indies. Selling books through Amazon is truly profitable. Amazon gives 35% to 70% royalty.
Submitting a book to Amazon for sale cost you nothing. You may need to spend a bit on editing and marketing the book but you can do it for under a $1000. The challenge here is writing a book that sells.
There is a lot of resources online on how to write your first book. Most suggest that you start with what you are passionate and knowledge about. It is great if you are an expert at the subject. But, you have a topic if you know more than the average person.
Brokering Products at Alibaba
Alibaba is a marketplace for large quantity sellers and buyers. Most transactions are between businesses and suppliers. There are suppliers for almost all industries: from agriculture to technology.
You come in as a broker. Your job is to help buyers look for suppliers. That’s it. You don’t have to worry about shipping. The catch is able to close the deal. There will be dealing competitors, bogus suppliers and low quality products. Researching and networking are the keys.
Since products are sold by bulk, commission can add to thousands. Also, as long as your contact is buying from your supplier, you get a commission!
Teaching at Udemy
Many people are now going online to learn. Thus, selling online courses is a big hit. Udemy is a platform that helps teachers sell their courses. Instructors are making thousands of passive income with it.
You can teach anything you know! Computer stuff, carpentry, self-help, language, hobbies, academics and more. You can set your own price up to $300. You get $50 revenue shares for organic Udemy sales. ?Yet, You get 97% if your students uses your coupon code.
If you have something to teach, try Udemy as an online business.
Selling Digital Products from Clickbank
Clickbank is an affiliate marketing website for digital products such as e-books, software and training videos. Sellers come to the website looking for marketers to promote and sell their products. They often pay high commission since these products has no shipping cost, no storage cost and little production cost. The product is simply downloaded in buyer’s device. You can make around $20 to $100 per sale.
For this to work, you need to market the products online. You can post ads on Facebook or Google, market it on your website or blog, promote it on your social media account, or by email marketing.
Selling Clickbank products provides continuous passive income once you’ve mastered it.
Designing T-shirts on TeeSpring
If you are creative, try designing shirts on TeeSpring. The idea here is designing a t-shirt that can go viral. TeeSpring will handle the printing and the shipping of the shirts.
You set your commission from $10 to $20. So you can commission can add to ten of thousands if they sell well. You do not need to pay anything. Just submit your designs. Make sure to make it relevant. Get inspiration from what’s trending in Google and Twitter.
Sell Items at Amazon
Doing business on Amazon is a bit different than the others in this list since you have to look for products to sell, package and ship them. However, with Amazon’s large customer base, making profit is easier. To make it big on Amazon, you need to apply for a professional account which cost $40 a month.
A lot of sellers are making thousand of sales each day. The trick is being able to find a product that sells. You can source your products direct from the factory. You may also find a deal on garage sales and clearance sales.
Promote Affiliate Products
All around the internet are sellers looking for individuals to sell their products. Some will give you as high 95% to as low as 1%. There are opportunities in all industries. The secret of making big bucks is looking for products that pays high commission and high sales. Most of these are digital products and services.
You can make sales by promoting on your social networks, blogging about the products, sending emails and advertising it on Google or Facebook. Blogging is only possible if you have a large audience and you may not have enough contacts to send email to. For beginners, paid advertising is the way to go. Just make sure to do the math before doing it because you might end up paying more on ads than what you actually earn.
Sell Ad Space on Your Blog
There are different ways to earn money by place ads on your blog or website. The most famous is the cost-per-click (CPC) which is popularized by Google Adsense. This means you get paid for every clicked ad on your website. Another means is cost-per-mille (CPM) which means that you get paid per 1000 of ad views on your website. There is also cost-per-action (CPA) which you get paid per action initiated by your ads. These actions could be sales, downloads, sign-ups or social shares.
Of course you need a website or a blog that has a lot of traffic to earn with ads. They key is to start ASAP and create content that is relevant to people.
Tips Before You Get into It
You actually do not need to quit your job to get with these online business. Devoted a couple hours of your time each day until you are confident that what you earn on your online business is enough to quit your job. Remember to be consistent!
Yes! The is a learning curve just like every new businesses. Digest all learning materials you can get. Invest on books and courses that will bring you to the next level. The biggest mistake newbies create is trying to build their own system when they can learn from veterans of the online business.
Treat online business as a business. Put your “A” game at all time. The businesses listed here are not get-rich-quick schemes. Do not get discourage or you won’t be able to quit your job and fund your desired lifestyle.