To earn an online income is very much on the increase right about now in the UK. People are losing their jobs due to various reasons including redundancy or business closure. Others are finding it extremely difficult to find a job, so earning online seems a much greater opportunity.
Turning your hobby into your new business venture is one way of making an online income. That's great if you have a hobby you want to turn into a business, but what if you want to keep your hobby your hobby. Or you don't have a hobby but have many interests in a subject, how else can you earn online. Well, there are many products available that you can use to earn an online income which one you choose comes down to you and your long-term goals. I talk about long-term goals because whatever you start online takes time, so interest, passion, perverseness, and patience are traits you will need, to stay committed. Oh, plus having a supportive community that understand that you want to create a better financial situation for you and your family is a bonus.
1 - Selling Your Own Physical Product Online
You will be familiar with this method. Deciding to sell your own products is not an easy business model to start up, even though you fully adore your products. So much more goes into selling your products online, 80% of business is marketing. Many don't realize how tough it can be, especially when you don't have a clue where to start. Plus it doesn't help that the internet's information is growing every day and is still on the increase. However selling online seems much better than having a brick and mortar shop, which seems such an expensive option. I have been there with the shop, paying rental fees, business tax fees etc and let me say I prefer selling online.
Selling your own product that you have made is a very rewarding feeling. I remember the 1st sale I felt awesome all day, someone out there came to my site, liked my product and pressed the buy button. Even though you are selling your product you still have to research your materials for your product, store your stock, package material and shipping costs. Plus unlike a shop on the high street, being online you can decide whether to only delivery your product locally ie your own country or worldwide, which of course will increase delivery costs.
2 - Selling Your Own Digital | Informational Product Online
If you want to sell a product but don't want to worry about stock on hand, materials etc..then creating a digital product could be right up your street. More and more people are finding that earning an online income with e-books, PDF files, videos and/or audio files is a great way to spread your own message, help others and keep 100% of the profits. Plus the phrase 'earn while you sleep' really does come into its own.
Do bare in mind that even though digital products are sold virtually, the work involved creating them is still the same. Don't assume that digital products can be lesser in quality because you would be very much mistaken. Actually, these products have to exceed the value perceived by the buyer because some people assume that the quality can be low. What digital products to create fully depends on your niche market.
Becoming an Online Affiliate
Thanks to the internet you can have an online business and actually not own a single item you are selling. No need to worry about stocks, shipping cost or even taking customer payments. All you need is a website, a Paypal account and various methods of getting traffic to your site. Oh and checking in to see how much you have earned. If this sounds good then you could try your hand at being an affiliate. How it works is like this - when a customer buys from one of your links which will have a tracking id specific to you, you, in turn, earn a commission from that sale.
3 - Promoting an Affiliate's Physical Product
To promote a physical product a good place to start looking is Amazon. Of course, there are other sites that run affiliate programs, but Amazon has a huge range plus it's available worldwide. Amazons' advantage is that it's a well known and trusted brand, which works in your favor when it comes to promoting and selling a physical product. Another advantage is that Amazon has such a large range of products you can most defiantly find a product for nearly any niche you are in. The majority of affiliate programs will provide all the advertising material for the products you promote.
4 - Promoting an Affiliate's Digital Product
Other products to promote are digital information products, which can be ebooks, software, programs, plugins, website templates, membership sites, courses, videos, pdfs, audio files, mind maps etc.... these can be one or a combination. To look for digital information products to promote you can check out Clickbank.com, which is a great place to start. For a variety of niche markets what you will find is that nearly all of their digital products are ebooks. If you want to promote other products instead of just ebooks, many blogs you visit can have a product of their own that they offer an affiliate program for.
5 - Advertising
Advertising is big business for any niche you are in. There are 2 types of advertising I want to share with you.
1- You sell ad space on your site, usually in the sidebar but that's not a rule. This is great if you have a good amount of traffic to your site.
Usually, you can approach sites with similar content to yours and offer them space on your site for exposure. Or the approach can work in reverse meaning sites will contact you asking for pricing on adding their ads to your site.
2- The showing of ads on your site and when a user clicks on it you get a percentage of that click is another option.
The most common company to offer this is Google and their service is called Adsense. Adsense works differently to selling ad space because it works based on your page content. The idea is if your content is written targeted to your niche audience then Google will try and use it to show relevant ads so that those who are reading your content will hopefully click on the ads.
All 5 ways of earning another online income will work on a static HTML website and a blog platform. The idea behind selling your own digital product, an affiliate product [digital or physical] and advertising is that you should be able to implement them and then leave them alone to work on autopilot.
Of course, each one requires work to put into place effectively. There's no get rich quick scheme here.
I know you're probably thinking that you ain't got time to do your business stuff now, never mind adding another project to your already long task list. Well I will say as a reply, knowing useful information may not seem relevant now but you never know. I know of people who had an online business and a blog and the blog became more successful than the business. Which in turn allowed them to earn solely from their blog and they implemented a few of the above methods to increase their revenue.
Don't be closed to ideas that don't seem relevant to you right now, you don't know what the future holds.
Share your comment to continue the conversation, I'll see you below...
When sharing your suggestion, feedback or insights, you are very much helping others on a similar journey as yours. We don't all have the answers but when we pull together and help one another, its truly a blessing.
I appreciate you for reading, watching and joining the conversation. I'm super happy you are here sharing your wisdom and truth with us all.