How To Start Your Own Online Business For Freedom
Staring your own online business comes with a lot of responsibility and hard work, but it does give you a lot of freedom. This is because you only have to answer to yourself and gives you the flexibility to do other things with your life. In this post, I am going to tell you how to start your own online business for what ever you want to do with your life. I will also give you some examples of the best online business models.
The Benefits Of Owning An Online Business
The flexibility you get when you start your own online business, works in two ways. The first way is that you can do it from anywhere. This means that online businesses are popular with people that live in remote places and find it hard to get a decent paying job locally. But it also means that people that travel a lot can earn money while they are on the road. Also, this means that you can work from anywhere you like.
The second element of this flexibility, is that you can choose your working hours. This suits people that have other commitments in their lives that are time sensitive. This is my favourite part of having an online business, as I love the fact that I can base my working hours around the things that I enjoy doing. Of course, I need to be productive enough to make my business work.
If working for someone else is your only form of income, you are one step away from not earning any money at all, as you never know what is going to happen.
With an online business, you can develop different income streams. This means that if something happens to one of them, you have a backup to keep you going while you work to fix the failing one. Multiple income streams can be different niche websites, or even completely different business models.
High Earning Potential
When you go about your online business in the right way, you open yourself up to earning money from people all over the world. There are billions of people with access to high speed internet at any time, thanks to mobile technology. This means they can spend money at any time and from anywhere. You just need to put enough effort in to the right places to make sure they can find you.
You Can Start A Business In Your Spare Time
This is how I started. Every night after work, I started working on my websites as soon as I got home until I went to bed. Now I work from home full time on various online businesses. The flexibility of having an online business, means that you can use it as a side hustle or somewhere to start to change your lifestyle.
Low Cost Startup
Depending on the type of business you start, online businesses are more accessible to people. This is because in most cases you just need a computer connected to the internet and a hosted website. Therefore, starting an online business is much cheaper to start than a traditional business, such as a high street shop.
How To Start Your Own Online Business That Is Best For You
There is no point starting a business that doesn’t give you what you want. It isn’t just about earning loads of money, it has to fit in with the rest of your life. When I was looking in to starting an online business, I wanted to make sure I chose one that suited me. Therefore, I set out some prerequisites that my choice of business had to fulfil. Here is my list:
- It had to be legitimate – As I didn’t want to wast my time or anyone else’s
- It had to be worth the effort – I didn’t want to do it for free
- It had to give me flexibility – I want to be able to choose my working hours (although I understand the work still needs to be done)
- There had to be good training resources for it – I was starting from scratch, so I needed all the information I could get
- I had to enjoy it – If I wasn’t going to enjoy it, I knew that I wouldn’t put in the right amount of effort
I will go through some options of online businesses shortly. Since I have started working online, I have experience with all of them. But initially, affiliate marketing is what I started out doing. This is because it ticked all the boxes and met all of my prerequisites.
I recommend that you come up with a list of prerequisites for yourself. This way you will be able to eliminate the options that don’t suit you.
Online Business Options
This won’t be an exhaustive list of options for online businesses, but there is a reason for this. I am not going to bombard you with details in the style of “start a website for vegans!”. What I am going to do, is go through a few proven business models. This will help you make your own mind up and find your own niches to work in.
Writing Blogs For Businesses
One way the that businesses attract traffic to their website, is by using blogs. They post blogs on their websites that are relevant to their customers and the products or services they provide. The idea is, that potential customers will search the internet for certain information. The blog will have the information that the potential customer is looking for and build trust with with them. This is a very good way to turn them in to an actual customer.
Blogs are also used to inform existing customers to keep them in the loop about new products. They are excellent for keeping customers interested and onboard with what the business is doing.
The problem is, that blogs are time consuming ago write and businesses find it difficult to find the time to write them. Therefore, they pay people to write blogs for them. How much you can earn per blog depends on your experience and the type of blogs you write. But you can earn up to $150 per blog and if you can knock one out in a couple of hours and write a few per day, you can make a very good living from it. Check out my post on how to make money from blogging for more details.
I recommend that you find some businesses that you would like to work with and approach them with some ideas. You should also explain to them why their business needs a blog page and how important they are.
Create Your Own Blog
You can start your own blog and monetise it to make a great living. Starting a blog is actually a very easy thing to do. A lot of blogger blog about themselves and what they are up to as a form of social media.
Once you start to get some traffic to your blog, you can start to monetise it. There are a few different ways to monetise a blog, such as selling advertising space and affiliate marketing. Check out my post on starting a blog for income for all the information.
Affiliate marketing is the process of promoting products and service that are provided by other people. You do this by creating content on your own niche website. Your niche will be based around an interest, sport, hobby or an aspect of life that a number of people search online for information on. Examples of content you would be creating are:
- Buyer’s guides
- Personal experiences with products and services
You make money when somebody buys a product or service through your unique affiliate link. For each sale you generate, you get paid a commission.
Affiliate marketing is what I spend the majority of my time doing. In my experience, it is is the best online business to start. The pros definitely outweigh the cons and it is a business model that makes online business more accessible to more people. Check out my post how can I make money from affiliate marketing to learn how to get started and how to works.
Drop shipping is a brilliant way to make money online. This business model allow you to sell products online. But it works in a way that you don’t have to buy products in advance.
As a drop shipper, you open an online store with a number of products that are provided by suppliers that are usually based in China. When someone orders a product off your website, you place the order with the supplier and this is when you pay for it. The customer pays your price, which can be a 300% markup on the supplier’s price. The supplier then sends the product directly to the customer.
The drop shipping business model can make you a lot of money. But it has to be done right. You reach your audience via targeted social media adverts. This takes some trial and error before you get your targeted ads dialled in, which costs money. But, experienced drop shippers make enormous amounts of money. Check out my guide on starting a drop shipping business.
That Is How To Start Your Own Online Business For Freedom
As you can see, there are a few fantastic options for online businesses. You have to bare in mind that just like any business, you need to put in a lot of hard work before it starts to pay off. You also need to be patient, as there is no such thing as a business that will get you rich quickly. The biggest part of running your own business, is to be disciplined. You need to make sure that you are productive enough every day to make your business work. If you have any thoughts or questions on these businesses, please leave them in the comments section below.