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Goodbye industrial age! Hello information age!
We live in the greatest era for business opportunities that can be done from home or anywhere for that matter so long as you have an internet connection. Isn’t that so amazing? Now more people can be intentional about their lives and build a business around their life, rather than live their lives around a job.
Many people have started to pick up on this wave and have started their side hustles. Many have even become very successful entrepreneurs. My side hustle started in 2007 when I was doing freelance graphic design. That seems so long ago.
Today we are gonna take a look at some business models that I am familiar with. Let’s start with freelancing.
Freelance – Graphic Design, Social Media, Marketing, Photography, Virtual Assistant
This has been around for a long time. Are you skilled at something where someone can hire you? Freelancing can become very good money. Many entrepreneurs and businesses hire work out. Freelancers are in high demand. You can sign up for some freelancing websites to get work or you can market yourself too. UpWork is a website where you can find some freelance work.
Passive Income: No.
Online Publishing – Kindle – eBooks
Are you a writer? Kindle publishing, or writing an ebook is one of the ways you can make money online. Did you know that the author of 50 Shades of Grey started off writing fan fiction based on the series Twilight, and started publishing on Kindle books? E. L. James has sold over 125 million copies worldwide. It may be a time to stop looking for a publisher, and publish it yourself! Check out Kindle Publishing here.
Passive Income: Yes.
Blogging & YouTube
I wish I had started a YouTube when it first came out. If you are a content creator, these two platforms allow you to make money through Google Adsense. You can also run other ad platforms on a blog. How much you make is all based on your traffic, how long they watch the ad for, and if they click on it. Affiliate marketing is another income revenue that ties in with blogging and vlogging. You can also sell courses from your blog and vlog. Both are great platforms also to lead into sales funnels. Check out my blog post on how to start a wordpress blog to make money.
Passive Income: Yes.
Affiliate Marketing
Affiliate marketing is basically like being a brand rep. The blogger or social media creator can post a link to a product that they suggest and will get commission if the end user buys. There are many affiliate programs out there and Amazon happens to be one of them. There are even websites solely with affiliate links that generate thousands of dollars every month. Learn more about how to get started with affiliate marketing here.
Passive Income: Yes.
Influencer Marketing
YouTube and Instagram are great social media platforms to become an influencer. An influencer is someone who gets paid by a brand to talk about their product. The influencer usually has to have a lot of followers before brands believe they are credible, but there is a rise in microinfluencers in 2018. Who would you believe more? A person you love to follow online who tells you how amazing a certain shampoo makes their hair feel or an ad that says that? This is a no brainer and why the influencer industry is a huge market and is changing the advertising industry.
Passive Income: No
Ecommerce – Amazon FBA – Selling Physical Products
Ever wonder how there are so many items for sale on Amazon? Many of those aren’t actually from Amazon, but from a company or business owner. Amazon just fulfills the shipping. If you were to sell on Amazon, you would have to have a mass quantity of products bought from your supplier and shipped to Amazon’s warehouse. You handle the listing, and Amazon fulfills it. Of course, you can fulfill it yourself too and save on the Amazon fees. You can check out the Amazon FBA program here.
Passive Income: Yes.
Ecommerce – Dropshipping
Unlike Amazon FBA where you actually have to get physical products from your supplier and get it shipped to you or to the Amazon warehouse, dropshipping requires no physical inventory. A customer simply buys the product from your website, and your supplier gets the order and ships it to your customer. Heck to the yeah! Of course, you would have to learn how to market your website so people can find it, whereas Amazon is like a search engine. Learn how to start your own online store without inventory with Shopify. Click here to learn more about how to start your own t-shirt business for under $50.
Passive Income: Yes.
Network Marketing – Multilevel Marketing
Do you use a certain product that you love? Wouldn’t you love to get paid for your recommendations? Network marketing has been around for ages. Avon and Mary Kay are network marketing companies that you might have heard of. Rather than employing thousands of people and spending lots of money on marketing and advertising, network marketing companies have the individual distributors aka business owners who promote the products. These business owners also sponsor others who want to do the same too. They are all individual business owners tied to a brand name. Want to improve your health and fitness? Beachbody is a great one to get started with.
Passive Income: Yes.
Coaching & Consulting
There are many different kinds of coaches and consultants out there that help many people. From mindset coaches, life coaches, health coaches, to business consultants, there is a coach for everything. If you are great at something and want to teach it, maybe coaching or consulting is for you. You can provide 1 on 1 coaching as well as create passive income with online courses.
Passive Income: Yes.
Information Courses
Information courses usually ties in with a lot of coaches and internet marketers. They create a course to teach something in a specific field. You can usually always find a course for something you are struggling with, whether it be your health and fitness or an email marketing funnel. These courses could be a live course in a Facebook group or a self-study program.
Passive Income: Yes.
I am sure there are more business models I didn’t cover. Tell me, are you doing any of these or want to start one or two?
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2 Comments
This is such great information. Thank you, Leah!
You are so welcome! Have you started something yet? 🙃