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Fifty-five million. That's the number of independent workers use online business in the United States – who can live and work from anywhere with. And the number of online business is growing all the time in America and all over the world. Whether people are creating their own lifestyle jobs voluntarily, or because they've been unable to find a suitable full-time job. A recent Forbes magazine article reports that the gig economy now comprises about 35 percent of the workforce. And technology, like the tool it is, is enabling people to live and work differently with the online business.
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Many people, especially Millennials, are looking for more from their job than a 9 to 5 grind. They want to enjoy life now, rather than having a job take up a huge chunk of their waking hours for most of their life, with a few vacations planned here and there. In fact, the average American will spend close to 90,000 hours working in a lifetime, so why not make the work fulfilling? Why not make one's work to blend into the way one wants to live their life?
What's A Online Business?
A online business is just that. It's creating a personal livelihood - a online business - around one's particular preferred lifestyle. The resulting companies, of course, are based in great part on the personality, skills, and contacts of their founders. And, a lifestyle job goes beyond a simple balance of work and life outside of work. In addition online businesses can take into consideration and incorporate the key decisions one makes in life, like traveling, going back to school, caring for young children, or assisting a sick or aging relative.
Online businesses examples:
Some examples of online businesses include: mobile journalism, collecting and selling antiques and collectibles, being a travel guide, making handcrafted wooden toys for children or one-of-a-kind wooden canes for seniors, traveling to trade shows all over the country selling jewelry or Native American crafts, doing house sitting or dog walking, creating YouTube content, developing apps for emerging companies... the list goes on. And many of these businesses exist only online, while others use the web to communicate and market their offerings.
Don't reinvent the wheel!
In launching and growing a online business, it's crucial to develop a niche specialty area. And brand it in a professional manner. Yet, at the same time, it's important to realize that entrepreneurs don't have to reinvent the wheel. therefore they don't have to go it alone. In fact, teaming up with other independent workers and using proven business practices are essential to cultivating a vibrant enterprise. Alliances and co-marketing arrangements are the fuel that energizes online businesses.
Online Business Models That Work:
Three of the major online business models that owners of online businesses can adopt include: Affiliate Marketing, Selling on Amazon (FBA), and Freelancing.
1) Affilate Marketing Online business:
Affiliate marketing involves offering the products and services of other online businesses and getting rewarded financially for each visitor or customer brought to a partner by your marketing efforts. Therefore it's performance based; you get paid when your partner makes a sale.
So to become an affiliate marketer, an entrepreneur usually follows series of proven steps in setting up a viable online business. And they include: choosing a niche, researching different affiliate programs and products. So he building a website and producing valuable content, building an audience, following or subscriber base. And promoting your affiliate products.
Affiliate programs include:
Some of the most popular affiliate programs include ShareASale, Bluehost, SEMRush, VigLink, JVZoo, CJ Affiliate, Clickbank, Shutterstock, Ebates, and of course, Amazon. Moreover, enterpreneurs can create an income-sharing situation. So the old fashioned way by contacting the owner and discussing and agreeing on a win-win arrangement.
Affiliate marketing superstars, like Neil Patel, have made a career out of helping other make money online.
Summary:
- Affiliate marketing, you get paid when your partner makes a sale, like Clickbank.
- Affiliate marketer builds websites and producing valuable content.
- Marketing strategy to create audiences, subscribers, generating leads and sales.
2) Selling on Amazon (FBA) Online business:
The Amazon FBA program enables you to create your own physical product. So in this business model, you can manufacture the product in any place in the world. For example, in China. Therefore the manufacturer will pack and ship the product to Amazon warehouses around the country. And from that point Amazon will handle everything for you with FBA (Fulfilled By Amazon) where sell and ship the product to your customers. By this way you can scale your brand and expand your company profit exponentially. So in a very short period of time if you create a good product with successful marketing.
On the other hand, Amazon has what they call the Amazon Associates program. So it enables new business owners to generate revenue by placing links to Amazon products on their business websites. And each time someone purchases a product by clicking on a link on their site, Amazon pays a small commission. Many gurus within the affiliate marketing arena point to this program as one of the best ways to get started making money online.
How To become an Amazon Affiliate?
To become an Amazon Affiliate, an individual creates a website or blog, then visits the Amazon.com Affiliate Program page, and clicks “Join For Free.” So they enter the name of their website and its url, fill out the application form, and read about the features and best practices that can help maximize their sales.
In addition, through the Business Factory Auto (BFA) initiative, individuals can access the online resources from Amazon they need to prosper. So the program offers startup businesses the low-cost. In addition effective infrastructure needed to scale and expand any kind of business. Foe example, Airbnb, Slack and Robinhood, are some of the now-famous companies that started by using BFA resources.
Summary:
3) Freelancing Online business:
In essence, freelancing involves looking at what one enjoys and is good at and then creating one or more services to offer to other individuals and companies. In addition a successful freelancer must be exceptional in both providing their services and in selling their services to others. So sometimes freelancers work alone and sometimes they hire other people to help them.
Freelancers often package their services and usually send out brief (or intricate) proposals to win business. So some freelancers have new clients sign up for services right on their website. Examples of freelancers include: writers, journalist, photographers, videographers, video editors, programmers, IT service providers, website designers, app developers, etc. And to manage cash flow, it's suggested that new freelancers balance their client load between regular ongoing contracts and one-time projects. So in this way, a online business owner's income isn't tied to any one client.
In the past, freelancers were often regarded as part-timers pursuing a side gig. But, more and more, freelancers are making good money by providing value and serving their clients in a personal way. In addition author and entrepreneur Elaine Pofeldt, who owns a freelance business about freelancers. (www.200kfreelancer.com) recently confirmed that the “number of free agents earning $100,000 or more has grown by about 70 percent in the last seven years – from 1.95 million in 2011 to 3.3 million in 2018.” Of the 3.3 million earning six figures from freelancing per year, So 97 percent are “highly satisfied” with their online business.
Summary:
- freelancing involves looking at what one enjoys and is good at and provide services and in selling to others.
- Freelancers include writers, journalist, photographers, videographers, video editors, programmers, IT service providers, website designers, app developers, etc.
- The Number of Six-Figure Freelancers Rose 70% in Seven Years.
Conclusion:
If they like, an entrepreneur can decide to use all three of these online business models.
Even though it's hard work starting and growing a online business. In conclusion, online businesses are all about freedom. And whether an entrepreneur wants to remain in a certain geographic area, or they want to be mobile, online businesses - along with the technologies that support them – are already making their mark. So online businesses will surely be a dominant factor in the economy and workplace of the future.
