The internet has revolutionized business and commerce, and literally anyone can now start their own business. And you actually need no experience to do this. There are many tools that allow you to work comfortably. For an example of a successful business, check out Playamo.com.
You may also have residence in any country, and still be able to fully control your business. Let’s check out the 4 top advantages of having your own business.
1. Drop Shipping
The main benefit of a dropshipping business is that it allows you to work without needing a warehouse for your inventory. Since you do not need a warehouse, you are able to eliminate its cost. Actually, a dropshipping business is only a middleman, and does not need to manufacture or store anything.
The only thing a dropshipping store is supposed to do is to focus on finding clients and make sales. Once a sale is done, the rest of the work is handled by other companies. The only expenses you have are advertising costs.
When a customer buys a product, it is purchased from a third party for a lower price. The order is simply forwarded from the buyer to the third company. This can actually be completely automated.
There is no risk in this for the dropshipping company, since it does not even have to purchase any of the products itself.
Overall, dropshipping is a risk-free business model that requires almost no startup capital and does not require you to have a warehouse. However there is a risk of getting blamed if the third party makes a mistake.
2. Affiliate Marketing
Affiliate Marketing is a process that is much like dropshipping, but there are some differences. You do not need to have an inventory of merchandise. You are also not responsible for the shipping. All you do is pick a business and find a partner that has products for this business. Amazon, for example, is an affiliate business. They offer any kind of product from any kind of seller. Wal-Mart also runs many affiliate programs.
You offer the products from the affiliate on your site, and when a customer clicks on the product at your marketplace, he is redirected to your partner’s site. There he makes the purchase. The buy is recorded, and you receive a commission for redirecting the buyer. The commission is usually 5 to 25 percent, however, in some cases it may be as much as half the price.
The pros of this kind of business – no startup capital needed, and you do not need a warehouse. The cons – you need to spend money on advertising and marketing.
3. Online Video
It is possible to use video hosting sites, like YouTube to make a lot of money. You are not required to make creative memes or viral videos. Instead, you should create content that is useful for people to watch. A how-to video on an important topic is useful, and many people will watch it, especially if it is about an important topic.
A video can contain ads, and the creator of the video gets money each time a viewer watches the ad. The more views you have, the more money you will get. If you have a lot of viewers and subscribers, you will be able to strike up deals with large companies and that will bring a lot of revenue.
The pros here are that you only need a computer and some free time. All you need to do is upload videos. The cons – you need a lot of time to get a following online and make revenue.
4. Information Products
An Internet business is not required to sell physical products. In fact, information is one of the most sold things online. Apps, databases and other information goods are bought and sold every day. And that is the quickest way to make money online.
You can sell audio – audiobooks and music. You can sell videos. And you can sell texts – e-books, for example. The possibilities are vast and are constantly expanding. There are endless possibilities on what you can sell.
It is possible to just place a link online, and every time someone clicks to download your product, you receive a small income. That is completely passive income, and it will bring you a stable flow of money, once your online store gets popular.
The pros – a passive income that is relatively easy to create. The cons – you may need to invest a little money to start up.
Online businesses work best if you find a profitable niche. Keep an eye on what interests people and look up the bestselling businesses on Amazon. This may give you an idea of what to sell.
Start out with one subject, and add new ones once you learn how to work with an online business.