With everything around us changing and switching onto online world, it is of no surprise that you are searching for your call in the online market. Not only are the trends changing, but so is the economy, and what better way to create security and stability than to become your own boss and build your own freedom. If you are searching for a source that can also be used as a platform to start a business, you are in the right spot.
Today, we will introduce you to five ways you can start generating revenues online. On top of that, all five can be created from here. Yes, we can help you get there.
We are sure you have heard of this extremely popular way of generating revenues. What’s great about the blog is that you can write about anything you feel passionate about. Blogging is great if you enjoy writing and passing on the message. It provides you with opportunity to educate and inspire audiences, share your passions, and express yourself in a unique and creative way. If you are curious in how exactly blogging makes money, it is through sources such as advertising and affiliate marketing.
Have you ever been reading through an article and gotten a popup ad? Ads throughout articles, popup ads, ads in the sidebars and under the articles, all generate revenues per click. Every time a reader clicks on an ad, whether by accident or through personal interests, a blogger generates revenues. Therefore, the bigger the audience, the bigger are the revenues. Similarly, bloggers can make money through affiliate marketing, which is a common way of promoting a product through recommendations, for example, upon which your readers may choose to make a purchase. Once the purchase is made, blogger generates revenues through commissions on each sale. This is often seen through bloggers offering readers discounts on various products and services through their affiliate marketing links.
Let’s talk numbers. A startup blogger on average makes about $3.50 per day, which is $105 per month. More experienced bloggers can generate anywhere between $1,000 to $10,000 per month (9% of bloggers), and the top 4% generate more than $10,000 a month.
If writing is not a skill you are most comfortable with, but you would still like to generate content that is aligned with your passions, podcast might be something you’d enjoy. Podcasting is recording of digital audio file which works similarly to recording of YouTube videos. Your audience will be your subscribers who will listen to topics you choose to share or educate about.
Podcast can generate revenues through sources such as affiliate marketing, podcast sponsorships, or up-sales of personal products, such as e-books, online conferences and audiobooks. Podcast sponsorship work similarly to advertising used in blogs. Instead of pay-per-click ad models, podcasts use pay-per-impression model, where you can earn $18 per 1,000 downloads for a 15–second pre–roll, $25 per 1,000 downloads for a 60–second mid–roll slot or $54 per 3,000 downloads for a 15–second pre–roll and $75 for a mid–roll slot.
If you are wondering how much money could you make with a podcast, here are some averages: 1,000 downloads can generate anywhere between $25-$50 per episode, where most successful podcasts can generate on average $25,000-$50,000 per episode.
This might sound like a strange business to do, but trust us, flipping domains could generate enormous profits. How does it work? It is a form of re-seller business, where you would purchase a domain you believe has a potential to be sold with high margins in the future. Once you’ve purchased a domain, you would list it on one of the following market places: Brand Bucket, Flippa, Domain Market, Sedo, or any other that you believe might suit you best. Once it’s listed, it is up for sale. Last step in the process after the sale is domain transfer, which is usually done through the hosting site, such as us, eBizPrime. If you’d like to transfer a domain, do not hesitate to contact our support team!
What is the revenue potential? Hypothetically speaking, flipping domains can make you millions. It would all depend on how much you purchase the domain for and how much you sell it for. For example, you can purchase one of our domains for as little as $18.98. If you list the domain for $200, once you make a sale, you’d have earned $181.02.
If you prefer physical products and would like to establish a brand, and one day an enterprise, E-commerce might be the right choice for you. E-commerce website allows you to sell physical products online, either through dropshipping model or selling personal products, similarly to Etsy. Dropshipping model allows you to source your own suppliers and sell their products for more than what they are originally selling them for, essentially making profits off of the margins. Great benefit of dropshipping is that there is no inventory, no worry about shipping, and no worry about manufacturing and production. All you need to worry about is maintenance and update of your website, advertising and marketing, fulfilling of the orders and generating of the revenues. If that still feels like lots of work, you can hire one of our experts to develop a website for you, as well as maintain it.
If you would like to know more detailed steps on how to start an E-commerce business, you can read our previous article here.
Revenues that one might generate depend on how effectively you advertise and market your products, as well as how successful are you at conversions from the advertising. On average an e-commerce store can make anywhere from $1,000 to $10,000 per month, all depending on how many sales one makes, and how big are the margins on your products.
Reseller business is a great option if you would like to sell products that are not physical goods, examples of such products are: website templates, software, apps and eBooks. You may choose to select one of our already established business models with developed websites and jump straight to work. Reseller business provides you with opportunity to start making money instantly without worry of website development or selection of products. Everything you might need is already setup and ready to go.
In terms of revenues, reseller businesses are very similar to flipping of domains, meaning you can charge for products and services as much as you want. The higher the margins, the higher the revenues. The secret to success is effective marketing and strategic advertising.
If there is one advice we can give you, in regards to all of the above, it is to not expect to become a millionaire instantly. Starting your own business will be a journey with lots of trial and error, lots of learning, self-growth and finding out what works for you. The key to success is patience and persistence.
All of the business models listed in this article can be started from here, at eBizPrime. Whether you are looking to purchase a domain for domain flipping, or for your own business, whether you are looking to build your own website or need support and guidance from one of our team experts, we have designed this platform for you.
Feel free to contact us with any inquiries you might have, and we ensure you that we will be there for you.
Comment below if you have experience with any of these business models, and what has been the hardest thing you ran into while running your business.