Generating Income With A Virtual Business?
Generating Income With A Virtual Business?
What's the best solution to an economy with an unemployment rate of 17%?(Dec 2010 US Bureau of Labor Statistics U6 figures) The solution may sound simplistic and yet straightfoward...own your own business.
But don't businesses now have additional expenses like increasing taxes, and employee healthcare costs(Obama-care), not to mention rising inflation of the US dollar? Yes, but not if you own a "virtual business." What's a virtual business?
It's an online business that requires little overhead, no managing employees, and no overburdening taxes if you incorporate as a sub-chapter "S" Corporation. Many people in their excitement buy into the first several online business ideas, and get scammed from their monies. While there are a lot of legitimate online business solutions you nonetheless need to do your own due diligence to see which business model is best suited for you.
Online business models are inclusive of many "types" on internet businesses and include a wide range of people. For instance, there are online businesses that are involved with the selling of hard goods. Many people purchase items at cost price directly from manufacturers and then sell for a profit. Items with low shipping rates like books, CDs, or similar low-cost items will work. The problem with this is that you can end up with a garage or basement full of items that are not just selling.
A simple solution is to do drop-shipping. You open your online store with all sales merchandise advertised. When a customer places an order you process it, collect the money, and forward the customer's order to your drop-shipping merchant. The merchant is responsible for warehousing merchandise and shipping it directly to your customer. And you are not even responsible for shipping charges.
All you do is collect payment from the customer, and then pay your drop-shipper cost price for the item. The profit is yours to keep. Success here requires a reliable drop-shipping company with a good track record. You will also needa good web hosting plan.
Affiliate Business is similar to drop shipping but hassle free. Affiliates promote products for a vendor, and in return receive a commission for the product sold. Commissions range from 10% up to 77% depending on the product and the respective vendor. So you may have a website that promotes products (a web store) or like me you may have a website that makes recommendations on specific products.
A visitor to your site reads your recommendations, becomes convinced the item or product will benefit them, and so click your link to your vendor. People looking for a specific product already has the ready to buy mindset. If a purchase is made you receive a commission. It's that simple.
With affiliate marketing there is no dealing with customers, no orders to process, no shipping and handling, and you don't have to worry about getting paid. If you're thinking about starting an online business, affiliate marketing is one of the best places to start. There'sliterally no up front cost. You do not have to buy a product to become an affiliate, you can sign up for free. The only cost incurred is in buying a domain name and for annual web hosting. And even this is not necessary if you plan to do email marketing.
Service Business. What skills do you have or what is it that you are good at? Can you offer your services to your online visitors? If you're a writer, a professional, or do a trade, then why not promote your skill sets to your visitors. If you do a trade, then target local visitors in your city. And if you can offer a service over the internet,the global market can be yours.
As an example, one person bought an online program on how to make ebook covers. She now owns her own online business doing ebook covers for authors, network marketers, and other entrepreneurs.
Infopreneur. So maybe you don't like the idea of "selling" anything. But there are lots of stuff that you know about. Maybe from a job, your experience, or your education or even a hobby. How can you make money from all of this? Create a web site with rich content in your area of knowledge or expertise. This is sometimes referred to a niche based marketing. we all know something about something.
What is it that your are knowledgeable about? The infopreneur business model is a passive income generating model. Once you provide quality content to satisfy your visitors, they'll keep coming back for more, and they'll even tell their friends and family about your web site. The more visitors or traffic to your site, the more profitable your online business. How?
If you create content that people are looking for such as, ideas about marketing, tourists destinations, how-to-ideas, best college choices, health, or just about any quality information that you think online surfers are looking for, people will find your site and your information. Once visitors get to your site and like the quality content that you offer they come to like you and trust your recommendations.
Your recommendations can be affiliate merchant links or an iten to be drop-shipped. You can even sell your own products and services to your visitors. Additionally, using Google adsense on your web site is a great way to earn passive income as an infopreneur. many online infopreneurs just provide quality information and make a nice sum from Google adsense. I recently visited a very informative how-to-site on playing guitar. There were tons of videos and articles on how to play the guitar.
The owner of the site offered his local service for persons who wanted to play the guitar, and also did Google adsense on his site. I contacted him (someone I know) as part of my research to find out that he makes about $100/day from adsense advertisements. And he makes this doing literally nothing. This is not really a lot of money, but at the end of a 30-day month, a $100/day adds up to $3000/month. Maybe some extra cash to enjoy with the family or pay bills and rent/mortgage.
So think about starting your online business either to make extra cash or as a means to become gainfully self-employed. You'll work from the comfort of your own home, and whenever you want. Best of all, your online business is global so you make money while you eat, sleep, and play. But be warned, an online business requires committment and industrious effort. It is what is says it is...a business.
Any income-generating online business that aims to go long-term must be built on effort, due diligence, and persistence. Don't fall for the get "rich quick" schemes. There are tons of them. Take your time, do your research, and then start your business. If you're not sure where to start or how to start then clickwww.mindset-for-wealth-and-abundance.com/site-build-it.htmlto learn more.
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