We are all busy all day every day, in our cooperate businesses to work as an EMPLOYEE. It does not really matter if you are a receptionist or a senior engineering manager of well-known international cooperation; still, you are an EMPLOYEE and feel lack of two basic needs:
- Financial Freedom
- Geographical-time Freedom.
We are crystal clear what do they mean, don’t we? By end of this blog, you will have a better understanding of different categories of online businesses and also the concept of being working from anywhere – anytime.
Let us look at what is the main characteristics of an online business:
- Everyone can learn how to start an online business, absolutely everyone
- There are unlimited needs out there, solutions to those needs can be marketed online
- Online business only needs a laptop and internet connection
- As far as you have your laptop with internet connection, your business can be up and running
- Passive income method in the beginning and scale up to the main profession in later steps
- Earning while learning
- Choose your niche, add the value to the world in the way to like
- And much more….
Characteristics of online businesses make them such powerful platforms to change the concept of being employed and as a result, gaining the financial and time/geographical freedom.
Online businesses: Find your niche, add value then turn it into a moneymaking system
Having an online presence making it much easier to add value to different aspects of people’s lives and as a result, make a considerable amount of money. However, the unique benefit of adding value on the internet is the ability to scale up and leverage the same solution to the huge number of audiences online compare to traditional marketing methods. Just imagine how big is the number of people to use the internet on different devices and how many of these people may have the same need that can be satisfied around your niche or knowledge. The opportunity is simply tremendous.
Look at two numbers below:
Affiliate Marketing Industry to Grow to 6.8 Billion US dollars by 2020 (1)
Retail e-commerce sales worldwide are projected to grow to 4.88 Trillion US dollars in 2021 (2)
Time and geographical freedom comes with running your business online
If there is an online platform already set up properly for your business, you do not need to be worry about when or where to work. If you like, you can work lying down on your sofa in your pants. To be more accurate, your office can be anywhere as long as you have your laptop and internet access. Moreover, you have absolute freedom to choose what time you prefer to start your daily work because your market size is as big as the whole planet, you are free to start working 10 am or late at night, totally up to you. Obviously, you work from where you truly like, you have much more precious time to spend with loved ones or do whatever your real passions or interests are (sounds like your dream lifestyle, right?)
Start your online business today by joining into FREE online On-Demand Workshops.
What are online businesses?
Currently, there are many different types of online business but as FORBES (3) mentioned all those could be categorized on five different main groups:
- Gig-based business or freelancing
- Affiliate Marketing
- Courses and programs
- SaaS business
(Note: Here, I am trying to give definition and a few examples for each category of online business. For more details and additional instructions, I will be working on some up-coming blogs)
Gig-based businesses or freelancing
In my opinion, the best definition of freelancing comes from Cambridge dictionary: “a way of working that is based on people having temporary jobs or doing separate pieces of work, each paid separately, rather than working for an employer”.
A freelancer could provide almost every type of services needed by most businesses. The most common job opportunities for a freelancer are Marketing, Web Development, Accounting, Teaching and Tutoring, Graphic Design, Freelance Writing and Copywriting, Mobile App Development, Search Engine Optimization or SEO, 3D Modelling and CAD.
There are thousands of freelancing platforms out there that you can easily pick one around your niche and register to start your ride. Nevertheless, I really suggest you go some steps further and build your own platform on WordPress or GoDaddy and start your very own business. You can start by looking for inspiring freelancing websites and blogs, just go and do your research.
Some freelancing platforms: FlexJobs, SolidGigs, Upwork, Freelancer, Guru
In simple terms, affiliate marketing is when you earn commissions for recommending products/services to readers (or people you know or people who are your subscribers). This is done by joining affiliate programs, where you get unique links (tagged with your personal ID) that track whenever your links convert to a sale. If someone out there buys something through your link, it rains money. Obviously the bigger the list of people you have, the bigger money you potentially can earn.
It can take time to generate and control the amount of traffic needed to result in income, but if you learn required techniques and knowledge, Affiliate marketing earning can be scaled up exponentially and truly change your life. Amazon affiliate marketing program or eBay partners can be mentioned as examples for this type of online marketing.
We will talk about affiliate marketing in detail in upcoming blog posts.
It is a system for the buying and selling of goods and services using the Internet as the main means of exchange. Electronic commerce ( or e-Commerce) operates in all four of the major market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Below is a list of e-commerce merchants according to what they sell:
- Stores that sell physical goods
These are your typical online retailers. They can include apparel stores, homeware businesses, and gift shops, just to name a few. Stores that sell physical goods showcase the items online and enable shoppers to add the things they like in their virtual shopping carts.
- Service-based e-tailers
Services can also be bought and sold online. Online consultants, educators, and freelancers are usually the ones engaging in e-commerce. The buying process for services depends on the merchant. Some may allow you to purchase their services straightaway from their website or platform. Some service providers, on the other hand, require you to get in touch with them first (i.e. book a consultation) to determine your needs.
- Digital products
E-commerce is, by nature, highly digital, so it’s no surprise that many merchants sell “e-goods” online. Common types of digital products include ebooks, online courses, software, graphics, and virtual goods.
Some examples of e-Commerce marketplace are Amazon, eBay, Alibaba, Fiverr and Etsy.
Courses and programs
The high price tag of conventional education has motivated people to look for other alternatives. So as a result, the online education industry is expected to grow past $241 billion by 2022(4). With the solution, you can learn anytime, anywhere, even do it in your own living room ( sounds interesting, right?).
Now imagine if you can build your online business with your own niche to train and educate people. If you look at your own life and knowledge you have at this moment, you easily can find some niches or hobbies which you have enough information to share with the world and adding value or simply solve a problem. There are so many examples if we want to look at internet; review a camera brand and shoot a review video on youtube, teach how to cook specific food, Preparing an online course how to make money from home and so on. Just find your niche and try to stick to it because around your niche you have a lot of things to say, to show and to educate and be sure in the world there are countless people are waiting exactly for the value you are ready to add to their lives.
e-learning has various types; Online programs, Online coaching and education, conferences and workshops. You can use some great platforms like Udemy, Click4Course, Teachable and Academy of Mine to sell your courses and programs online or you can also set up your own platform. (I recommend you also check amazing online course directory of LinkedIn, Lynda.com)
Software-as-a-Service (SaaS) is a relatively new internet-based business model. The premise is that a piece of software is hosted on a cloud infrastructure (i.e., operated through a web browser), and businesses pay a monthly fee to get access to this software. The main difference between SaaS businesses and software companies is that SaaS is hosted in the cloud. Basically, this gets rid of the need for an end user license to activate the software and any infrastructure to host the software. Instead, the SaaS company hosts its membership. The customer just has to log into their account and they get full access.
Microsoft Office 365, Google Apps, Amazon Web Services, Dropbox are some famous essential SaaS applications.
Start your ride, this is your life
As we have reviewed together in this blog, there are incredible opportunities in all different categories of online businesses and potentials to add value to people, educate them or try to solve their problems and obstacles. I truly believe internet-based businesses due to their unique ability to be accessible for a huge number of users (equally all around the world), can also be used to leverage those shared values. Furthermore, the ability to work from anywhere-anytime together with amazing financial freedom (gained with adding values to others) makes online businesses a powerful medium to build our dream lifestyle.
Please feel free to contact me anytime if you need any help or further questions. Keep an eye also for upcoming blogs in which I will have the chance to give you more clarity and details about online lifestyle and its related business models 🙂
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