Identify target customers: Write down exactly who you want as your client and then start researching those companies and making your list. You’ll want your portfolio and cold emails to align with the companies you’re reaching out to
Lastly, you need money to make money. Startups can cost quite a bit to get off the ground. So with your idea and market validation solidified, there are a few different paths you can follow to get your initial “seed” cash:
It takes time and effort, but website owners like myself and Pat Flynn of Smart Passive Income, have built life-changing careers through affiliate marketing. In fact, Pat even publishes his income reports online, showing how he made over $2 million in the past 12 months alone.
Domain name trading has been around for the last couple decades, and while most slam-dunk names have long been sold off, there’s still plenty of others that you can get your hands on for relatively cheap and broker as a way to make money online. Before you dive in, however, beware that some experts doubt the long-term viability of this idea for making money online. However, there’s always the change you might just land on a lucrative domain name for a future billion-dollar company. To get you started, here are some tips from GoDaddy, arguably the world’s largest and most famous repository of domain names.
If you possess a great deal of business experience and knowledge, why not create a business that helps aspiring entrepreneurs find success? You can use your skills to help new business owners get off to a good start and help experienced entrepreneurs keep up with demand. To show off your knowledge and skills and bring in clients, you can also write articles about business on platforms like LinkedIn.
And while building, launching, and marketing an online course does take a considerable amount of upfront effort, their earning potential is through the roof (especially compared to a lot of the other online ways to make money we’re talking about).
Every day, couples in love get engaged. And every day, couples who have fallen out of love separate or break an engagement. When the latter happened to Josh Opperman, his fiancee was kind enough to return the engagement ring, and he didn’t know what to do with it. Since the wholesale markup on engagement rings is insanely high, he would have taken a huge loss in returning it. So instead, he started his business, I Do Now I Don’t, an online marketplace for unwanted engagement rings. Customers can buy rings at prices far cheaper than you’d find at a traditional store, and you can sell at rates that are better than you’d get if you tried to return the ring. Business started booming, and now you can buy and sell other jewelry items there too.
Shipping restrictions, zoning laws, and trademark considerations. These can all make or break your business. With this list, you can avoid the ecommerce landmines that derail your business before it gets off the ground.
We’re on a mission to provide businesses like yours marketing and sales tips, tricks and industry leading knowledge to build the next house-hold name brand. Don’t miss a post. Sign up for our weekly newsletter.
Nearly every company is now looking to build a website. In fact, even those companies that have a website are looking to make sure that theirs looks bigger and better than the competition. You can learn how to earn money from home with practically no investment and this is certainly one of the best business ideas for someone wanting huge amounts of flexibility.
And while freelancing might not be as scalable as some of the other ideas we’ve spoken about, it’s not uncommon for solopreneurs to build healthy six-figure freelance businesses for themselves. (In fact, I’ve interviewed tons of them on my podcast!)
Shopify is a great example of the freemium model. By offering some applications for free, they get exposure for their whole business. Since the company was founded in 2004, they have acquired 30,000 customers, including Pixar and the Foo Fighters. Their revolutionary “build-a-business” competitions in the past have produced over $70,000,000 in revenue for over 14,000 entrants.
Not only is Airbnb a great way to make extra money online by renting out your spare bedroom, but you also get the benefit of meeting new people (if that’s your kind of thing). You can even rent out an entirely new apartment just to manage as an Airbnb.
Pitch, cold email, and sign your first clients: Now it’s time to go after clients. Mention them in your content. Reach out to them over email or LinkedIn. Tailor your pitch to show what kind of value you bring to the table. (You can even read my personal cold email templates).
Phase 3: Quickly write, record, and edit the course content. As he already knew there was demand, it made sense to create the content as quickly as possible. He could always go back and update or edit based on feedback from his initial students.
But he managed to sell a necklace for $200, and with that $200, Branson finally had the money to call potential advertisers for his fledgling magazine. The rest, as they say, is history. That $200 would eventually grow into the Virgin Group, now a multibillion-dollar brand, operating in industries ranging from aerospace to communications.
As you start regularly putting out content, you’ll hopefully start to build a bit of an audience. But to start seeing real money from YouTube you need to market your videos elsewhere. Share your channel on Twitter and Facebook. Distribute videos anywhere else you can think of. Also, interact with comments and build a community around the videos you’re making so people will share it with their friends.
The great thing is that creating your own professional-looking social media is incredibly easy with a tool like Canva, which you can use by signing up for free. Even with their free version, you have access to thousands of templates and images.
Journalists, doctors, lawyers, academics, and researchers record interviews every single day and need someone to transcribe what’s been said. So, if you’re comfortable with listening to the same audio over and over while writing it down you can make good money online doing transcriptions.
Along my journey, I’ve launched four separate online businesses. The first one lost me $6,537 in a matter of months, while I completely overestimated the audience size for the second. Both shut down very quickly.
And don’t be afraid to ask for referrals. If you’ve done a good job for someone, they’ll likely be more than happy to refer their friends and business associates to you. But if you don’t ask, they’ll rarely think to do it. Don’t leave this to chance.
And even if you’re not a big fan of reading print books, let’s not forget that we’re in the midst of the information age, when all the information you could possibly want is at your fingertips. There are tons of information out there that you can access for free that’ll teach you everything you need to know about starting a business.
When was the last time you went to a new restaurant without looking it up online beforehand? Or bought a product that didn’t have at least a few 5-star reviews? It seems like more and more our world is run on reviews. And you can make money online by writing them. Get started by creating accounts on sites like Vindale research, Software Judge, FameBit, CrowdTap, Influence Central, and Modern Mom. However, before you run off and start writing, be sure to check the small print on each of these sites. Writing reviews isn’t a huge source of guaranteed income and you want to make sure that it’s worth your time before you get going.
Could you expand on the “Find a developer” part. You mention there are loads that are looking to partner up with people but from my experience most want paid a lot of money to consider developing your idea.
If you happen to have a bit more free time, then reach out to the event organizers and see if you can volunteer or help in any way. That way you’re guaranteed a backstage pass and a higher chance of striking up a conversation with an expert one-on-one than if you just walked in through the door.
Strategy #7: Encourage referrals and repeat customers. Always, always, always follow up with existing clients! Are they happy with the job you did for them? Is there anything else you can do for them? Do they know anyone else who might benefit from your service?
It’s still not easy by any means. It requires hard work, and you need to stand out amongst the hundreds of thousands of ecommerce websites and online stores. But by filling a unique niche and executing the right marketing techniques, you can make your ecommerce store a profitable success.