Whether you are someone who wants to earn an extra £1000/month, or someone who wants to add another revenue stream to their business, or if this is you idea to get your to live a life of freedom, knowing how to make money online can help you get there. Here are 4 different online business ideas. I dive into a little about each process and the tools I recommend to do it. There are so many affordable solutions out there to help you grow your online business, its just knowing which ones to use.
I mean how much difference would an extra £1000 a month make? It would be huge right!? And thats why I have used that as an example all thew way through, because its not as far off as you may think.
In This Episode You Will Discover:
- The best software for setting up an online store
- The best software for selling online courses
- Why you need to think of yourself as a media publishing company
- The place that you can quickly and easily set yourself up as freelancer and start making money quickly.
- Where to get products from for your online store
- and so much more
How To Make Money Online – 4 Ways To Start A Business Online
So a couple weeks ago I did a podcast about how the 4 ways things anyone could do to improve their finances, and get richer and today I thought I would share with you how to make money online.
You’ll remember that I freaking hate the advice of, just don’t buy your daily coffee and you wil have an extra £3 a day to spend. What a load of rubbish.
Instead work out how you can make an extra £3 a day and freaking enjoy that cup of coffee!
Step 4 was launch a business, but we didn’t really talk about what that meant, and so I thought I would give you some examples, just some tasters of things to get started with.
There are all kinds of ways to make money online and today I am going to cover 4 of them.
And what I am going to do is break down how you could make £1,000/Month As A Side Business using these ideas.
All of these ideas could be your ticket to freedom, they could be your full time gig, this could be you sipping margaritas on a beach in Bali while working. But before we get carried away we need to make that first £1,000/month. Because if you can prove that you can do that, well the next £1,000 becomes much easier!
So lets dive into them…..
And by the way everyone needs to be doing Option 4, and if you are doing one of the options perhaps you should look at one of the others to grow your business.
And by the way, I am covering 4 ideas, theres hundreds out there, here are just 4 to get you started.
I also wanted to not just give you the ideas but give you the tools and softwares etc you will need to get started.
Online Business Idea 1: Freelance Work – Upwork
If you have a skill that people want, from admin, through to sales, marketing, designer, video production, writing then there are people out there who need you in their life.
There are all kinds of sites out there where you set yourself up as a freelancer, set your rates, upload your portfolio and start applying.
One of those sites is Upwork
And lets just break this down, let’s say you charge £50/hour for whatever it is you do – 1 hour a day (20 days of the month) = £1,000
Even if you charged £25/hour it’s 40 hours of work over the course of a month to earn an extra £1k/month
While this is a great way to make an extra £1,000/month, you are always going to be limited. Why? Because it’s your time people pay for, and you only have so many hours in a day. Especially if you are still in another job.
Online Business Idea 2: Online Shop – Shopify
Setting up an online store has never been easier!
Find a market that you want to sell too, find products that they are going to want and sell them the products.
When I say its never been easier, its really never been easier. Look at Shopify for example…
Shopify – is your online store, you pay a small monthly fee and you have yourself an online store set up in minutes. It takes payments, tracks your stock basically everything you need all right there for you.
Now team Shopify up with Fulfilment By Amazon and you never even have to see the stock.
You order it, it goes straight to an Amazon warehouse, when someone places an order on your store, someone at amazon receives the order, collects it and ships it off.
I know this will save all kinds of arguments about the stock you have in the spare bedroom, the living room, the cupboard……
Lets look at an example….
£50 product – 50% net profit, so you are making £25 off each sale = that means you need 40 sales a month, which is 1.3 sales a day!
Once it’s set up, its just a matter of making sure the stock is there and driving your ideal customers to the store.
That way you can have your shop set up and making sales before your first payment is due to come out.
Where do you get the products from to sell online ?
- Stock other people’s products – call up the wholesale, buy their products and sell them
- Create your own products — AliExpress – for all kinds of random products and you can put your logo on some of them too, check out Alibaba as well.
I know lots of people are going to be thinking… yeh but what if people don’t buy it, then I am stuck with a whole bunch of products that no one wants and whole lot of wasted money.
Which is a fair point….and my first point on this would be to make sure you have a product that your target market actually wants. Easiest way to find this out…. Ask them.
Don’t ask them, “hey if I created this would you buy it”, everyone just tends to say yes, as they want to support you, but then they won’t actually put their money where their mouth is.
Ask them, “What are the things that you would love to have as a ……..”
Then go get that! Ask like 100 people and see what the most common answers are.
Another alternative and a safer one to get started with….I mean still ask your target market what they want, don’t go investing time and energy without doing that, but there are companies that will only create your product once someone has ordered it.
Print On Demand
Lets for example say you had a book, instead of printing 500 copies before selling one. You only print when someone makes an order.
Google print on demand for the product you want and see if it’s available.
It’s a more expensive option so you will make less profit but it’s a great way to start and again it means not having any stock lying around…ever.
Option 3: Create An Online Course/Products
The third option is to create an online course. This for me is one of the most exciting. You can sell courses on literally anything. From weight loss guides to knitting, to painting, photography, just literally anything.
If it’s a known thing, there is a course on how to get better at it.
Chances are lots of you are already doing the thing you could an online course in. If you are a weight loss expert, create a weight loss guide, if you are a chef you could teach people how to cook amazing recipes.
And the best thing is with online courses, you create the course once, and then it’s done! You just sell it!
Again let’s break this down… we want to make an extra £1,000/month = let’s say you charge £200 for your course, that means you need 6 sales each month to be making £1000 profit!
I say that because you will need somewhere to store the course, and software to help market and drive your customers to it etc.
In terms of becoming the go to expert, and creating courses that your ideal market want then check out Russell Brunson’s new book – Expert Secrets, click here and you can get a free copy of his book, you just pay for shipping.
I am sure by now you lot know I freaking love ClickFunnels, you can set up your marketing funnels and store your course on there as well for $97/month, its a no brainer.
You can also use Udemy – upload your course on there.
There are other platforms which are designed for courses, especially if you want to have quizzes and things like that, so check out Teachable – I haven’t used it so can’t really comment on it, but I do know people who their courses on there and love it.
Option 4: Be A Blogger/Be A Media Publishing Company
Now… I have included this as a separate one and there are lots of people who are incredibly successful as bloggers, however there are lots of totally broke bloggers too.
Blogging is a FANTASTIC strategy to help drive sales of your skills as a consultant, your shop sales, your online courses. And so even with the other 3 options we have talked about, I would 100% still be blogging, or putting out content regularly in some format – videos, social media, blogs etc.
In fact there some incredibly successful people who are “Instagram famous” they have built an incredible following on social media. They put out content that people get value from and they get loads of fans, we are talking millions of fans.
With your new media publishing company, if you choose not to monetize through the options we talked about above, your consulting work, shop or online courses, here are a few other ways you can generate revenue.
When you are looking through blogs you can see the ads that appear in random places. I am personally not a fan, I would prefer you put a link to one of your courses – you will probably make more money that way. The ads that appear could be for anything, and its taking them away from your site.
If you don’t have a course that you want to promote, or perhaps there is something that you know you audience would get incredible value from having, then you could put affiliate links on your site. These could be text links or banners. This is a great way to get started as you can keep the ads relevant to your audience. We use affiliate links on the Level 10 Living site, not every link is an affiliate link, but some of them are. I would always only use affiliate links with companies that you know and love yourself. Don’t send them off to random products just because you want to make a quick buck.
Paid product placements/Sponsors
If listening to podcasts you might have heard people say, tis episode is sponsored by whoever, they are paying to get infront of you. It’s the same with influencers who have huge followings, they get paid to have a picture wearing a certain piece of clothing or to have a coke bottle in their hand etc.
So there you have it, you wanted to know how to make money online, and hopefully that has given you a few ideas to get you started.
If you have got value from this and found it useful then please share it and leave me a comment too, I do this for you guys and I would love to know who is out there reading, implementing and driving their business forward.
FREE Book –> Expert Secrets: The Underground Playbook For Creating A Mass Movement Of People Who Will Pay For Your Advice
I am so excited that Russell Brunson has finally released his second book, Expert Secrets: The Underground Playbook For Creating A Mass Movement Of People Who Will Pay For Your Advice. At the time of writing this its going to be 2 months before this book is released on Amazon but you can get it here for free, just pay a small shipping fee and yours before anyone else’s, just click the image below.
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