E-commerce has changed the way we do business, replacing a huge portion of traditional brick and mortar stores all over the world. It is one of the fastest-growing industries that should generate over $650 billion in 2018. And it’s a way you can improve your lifestyle.
What makes online commerce so powerful is not only the fact that it is faster and more convenient for buyers than traditional retail. On the contrary, entrepreneurs also appreciate the new system because it allows them to launch business projects even if they don’t have anything to sell!
That way, online business is not only becoming the source of income but also the way to improve your lifestyle and make the perfect balance between life and work. But how is this possible? How an online business selling nothing can improve the quality of your life? Keep reading to find out!
How to Prepare for Online Business
Before you start taking concrete steps toward launching your own business online, you need to research the targeted market. The first question is whether you want to work through the e-commerce platform or sell products or services on your own website.
Both options have their own peculiarities, so you better make sure to understand the desired sales channel perfectly. Besides that, you should learn everything there is to know about the target audience.
Business intelligence specialists at the Essay Writers UK suggest webmasters find out visitor-related details using the basic website analytics tools, including features such as:
- Age, gender, and location of the average user
- Online interests and behavioral patterns
- Personal interests and the preferred content
- Academic background and annual income
- Style and values
All those data will help you to choose the right sales strategy and create the best offer for your audience.
7 Ways to Launch an Effortless Online Business
Now is the time to discuss the most important part of this post—seven ways to launch an effortless online business and afford yourself a comfortable lifestyle. There are actually dozens of different options available online, but these are the most common solutions used globally:
Drop shipping is extremely popular among digital retailers. By definition, drop shipping is a retail fulfillment method where a store doesn’t keep the product it sells in stock but rather purchases the item from a third party and has it shipped directly to the customer. In other words, you can earn money by selling commodities without ever seeing the product.
How does it work? First of all, you need to create an account on one (or many) online shopping platforms such as Amazon or Shopify and list the item. Then you need a manufacturer to produce products on your behalf or buy the goods directly at the digital marketplace like eBay or Alibaba. When a customer purchases this product, you don’t deliver it from your warehouse but from the manufacturer instead.
This type of online business is easy to set up and relatively cheap. However, there are literally hundreds of drop shippers in every niche, so it’s difficult to stand out from the crowd of competitors. This means you need to be highly efficient and craft a great marketing tactic to win over customers.
Another option is to sell services online instead of physical goods. For instance, you could be repairing wooden fences for a fixed price of $200 per project. This is a good way to earn regular customers and upsell your services, but you can also choose to outsource the whole work.
Keep in mind, however, that many people offer low-cost services for the simplest home repair projects. For this reason, you need to be better and offer a wide range of home repair possibilities to get your foot in the door. Another advantage is to be faster and more agile than competitors because clients usually demand speedy execution.
PLR and MRR
Private Label Rights (PLR) and Master Resell Rights (MRR) are the two sides of the same coin. While the former allows you to customize the digital product and sell it as your own brand, the latter gives you the possibility to sell the item as it is without making any changes.
This type of online business sets you free from crafting the product single-handedly. Therefore, it’s a low-cost solution that enables you to manage online sales without investing too much time or efforts. Besides that, there are no inventory issues since you sell digital products that don’t require warehousing.
There are so many PLR and MRR websites to check out and you can find the most appropriate solution for your own private business rather simply. The PLR/MRR sales strategy is not designed to sell expensive products, but you can generate revenue quickly if you choose a quality product.
Print and design
If you are a professional graphic designer, here is a great business idea to make the most of your skills and experience. You can design visuals for all sorts of products, from clothes and presentations to websites and product packaging.
The job is good because it allows you to do everything with zero investments (except for the time you spend working), while the profit is high enough to guarantee an easy lifestyle.
Let’s say that you create clothing imagery. In such circumstances, you can simply cross-sell and upsell products because people who like the first item will probably buy a similar one. For example, people who like your shirt will likely buy the same jacket or hat.
Unfortunately, it’s easy to steal visual ideas online, which means other designers will often change a few details and offer pretty much the same visual solutions much cheaper than you, thus stealing your clients.
Affiliate marketing is one of the oldest online business alternatives because it’s super-easy and accessible to almost anyone. The procedure is simple—you sell other people’s goods on your website instead of your own products or services.
Using one of many affiliate platforms, you will automatically be assigned with the sales links based on your niche and subjects of interest. However, your goal should be to promote and sell products you already use and like. That way, you can guarantee the product quality, protect the credibility of your website, and set the foundations for the long-term profitability of affiliate marketing campaigns.
Website advertising is yet another very familiar form of easy online business. If you are running a website, you can sell ad space or join Google’s advertising network via AdSense. Why this might be a good solution for your website?
Well, let’s say that you are writing articles about international basketball. In this case, Google will recognize the subject you are dealing with and it will automatically direct basketball-related advertisers to your site. You earn money every time someone clicks this ad on your website (hence the pay-per-click name).
The only thing that you need to do is to take care of the content. It has to be good enough to attract a lot of visitors and boost website traffic in the long run. Each click could cost anywhere between a few cents to several dollars, but you hardly generate a bigger revenue unless you can attract many readers.
Selling premium content
Speaking of content creation, we have to mention that you can turn posts into online products. In case the audience really loves your articles, there is the chance to sell certain posts as premium content. For instance, you can charge visitors for quarterly reports, eBooks, infographics, comprehensive industry guides, etc.
It takes a while before you reach this level of quality, but you can make a lot of profit as soon as you accumulate enough regular followers. After all, why would someone be looking for other learning sources if they already know that you can provide them with the best content possible?
The digital universe allows people to launch their own businesses even if they don’t have anything to manufacture and sell. It’s a brand new system that can completely change your career plans and help you make a balance between life and work.
In this post, we showed you how an online business selling nothing can improve your lifestyle. Remember our suggestions and don’t hesitate to test them—it could make you a super-productive online entrepreneur.
About the Author
Brandon is interested in marketing, writing, and editing. He writes on different topics related to the writer’s skills and techniques. In his free time he really loves playing the piano and collecting unique books. He is also a contributor to RushMyEssay. You can find him on Twitter and Facebook.