Connect with us

Business

How To Build Wealth By Having An Online Business? 5 Secrets Of Generating Income On The Internet!

Published

on

How To Build Wealth By Having An Online Business? 5 Secrets Of Generating Income On The Internet!

Learning how to build wealth fast online, without any capital investment is a relatively hassle free process if you have the right set of skills and a sufficient amount of free time.Especially if you are budding entrepreneur, starting an online business is a much more beneficial endeavour compared to investing in infrastructure for commercial purposes. A business that operates online also has a much wider customer reach and can deliver services to any part of the world via the Internet. All you need to have is a computer set up and running, and you can start using your skills to build wealth fast. To top it all, as you setup and run your online business you can work from any location while pursuing your hobbies and passions.Read on to find the best ideas for building wealth online, which actually work!

We all need the content to reach the maximum number of people as well as the right audience and Submitting a guest post makes that possible.

Top five online business ideas for building wealth without huge investments:

Start a blog catering to a niche topic or set up a company to provide writing services

Passionate about artisan food and know the intricacies of canning and pickling meats, vegetables or have a unique insight into a new cryptocurreny? Then you already have the foundation for creating a blog dedicated to the skills and techniques related to these niche topics. With the demand for artisanal food and information about cryptocurrencies such as Libra at an all time high, a blog in these niche segments will bring in large amount of followers.  As your followers increase you start earning off your blog. However, the cautionary note here is that the process of building a blog and getting a good amount of visitors per day can take up to a year. So when setting up a niche blog, ensure that you have the amount of time and effort to keep it running even when it is not generating revenue.

Content whether it is written or in the form of an image or a video is vital for the success of a blog. So if you are creating a niche blog,be prepared to write and publish your own posts. If you are passionate about the subject you are focusing on you can build your writing skills and polish them on the job. However, try to avoid creating every bit of content yourself.  So invite your friends or family to contribute as guest bloggers, and this will also help bring in more traffic.

Once up and running a niche blog benefits from a custom domain which brings with it a certain amount of legitimacy and it also allows you more freedom to run advertisements and earn revenue from them.Advertisements on a blog can pertain to aligned products to eBooks and more. However, before investing in a custom domain it pays to check if your blog is on track to becoming popular. If you blog is not doing as well as expected, consider switching to another niche or expanding your current one.

Monetizing a blog with the aid of sponsored posts is another way to earn money. With several companies paying money for a sponsored blog post that promotes a product or service, bloggers who run popular blogs can earn several thousand dollars per month.

Another way to ensure that your writing skills bring in the right amount of money is by tying up with other people and creating a company. As part of a team you can cover a variety of different topics such food, fashion, luxury watches and provide a wide range of content writing services. With various people handling different types of writing in a company the creation of newsletters, academic content and press releases happens easily and you can get the most money for your writing skills.

As the demand for unique content for blogs, social media posts and websites increases a company providing stellar written content can quickly enhance their reputation online.  Participating in the formation and running of such a company will also allow you and your partners to directly deal with clients from different countries.

Finally as you set up a company you need to be aware that crafting a successful and attractive script for videos that are going to be used as an Instagram story or placed on YouTube, again calls for writing skills. As the use of video for marketing online and on mobile devices is growing and shows no signs of slowing down, online companies are increasingly including script writing services as part of their portfolio, and so should you.

Start online courses and tutoring

Driven to spread knowledge and have the right qualifications and experience as a teacher? Then going online is one way to reach a wider audience and train students from the comfort of your home. Experience in teaching subjects like high school level English, Math and Science can be leveraged online and you can earna substantial amount per hour. Even if you have computer skills or if you are an experienced graphic designer without teaching experience, setting up courses and offering them online allows you to create a business that caters to people worldwide. While making a website to showcase course materials that you have created allows you to charge prospective clients and students money to access them.

As you are setting up an online tutoring business and creating courses it also helps to understand the options that are available to you as a tutor. The option of working as an independent tutor with your own website allows you to take home whatever profit you make, after meeting expenses incurred. However, being an independent tutor means that you have to market your courses extensively and building up a client base takes longer. Instead if you sign up with a tutoring company and offer your courses thought it, you will have ready access to a vast amount of clients without having to engage in a lot of marketing.

One major benefit of creating courses for tutoring companies is that you sell them on various sites like Udemy, and cater to those who are looking to learn the basics of web development or how to become an expert in digital marketing. Udemy while taking a percentage of the course fee provides you with access to hundreds of prospective buyers/students and ensures that your work is showcased on a global platform.

Create an eBook for Amazon Kindle

Got something to say about programming languages or have a great idea for a novel? Then it is about time you considered showcasing your knowledge in the form of an eBook.  Especially if you are a budding writer creating an eBook allows you to build wealth with minimum investment and also improve your writing skills. However, writing an e-book can become a long drawn out and tedious process if you are not passionate about the subject that you are focusing on. So whether your eBook focuses on a fictional world with fantasy and mystery or is set in a coffee shop, you need to be passionate about the characters and the subject.

Additionally you need to popularize an eBook before it is made available on Amazon Kindle or just as it is launched. To help popularize their offering, several authors start writing an eBook by publishing chapters on sites such as LiveJournal and getting feedback about ideas and plots. Building an audience for your eBook is therefore as important as the writing process, and you can even use the feedback you receive on published chapters to improve your work. Self-publishing an eBook on Amazon and ensuring that is popular within the first few weeks will automatically bring it to the attention of the site. As a result Amazon will ensure that your eBook is listed well ahead of others and you can hike the price for each digital copy. Once you have learnt the secrets behind self-publishing a successful eBook on Amazon you even write about your experience in an eBook and make money from it.

Go online with an E-commerce Site and do drop shipping

In a fast paced digital age, where a large amount of shopping is done online, it is no surprise that the Fulfillment by Amazon (FBA) and drop-shipping are becoming popular ways to earn on the Internet. Before utilizing the FBA service or dropshipping, it is vital that you compare the two and see which meets your needs. If you are starting out in the E-commerce space drop-shipping is by far the easier option as it allows you to easily resell products manufactured by companies that you have tied up with. One you create a partnership with a company you can start your online reselling business on platforms such as Amazon, without actually stocking any inventory. Instead once the order for a product is placed on your online store on Amazon, the customer details are routed to the manufacturer. The manufacturer is then responsible for packing and shipping the product to the buyers. The reseller in this scenario earns the commission on the products sold, without having to make a huge investment in infrastructure or maintaining/storing inventory at warehouses run by Amazon.

Set up a social media marketing agency

The days when social media was used to showcase interesting stuff that you did through the day and places you visited have long since died out. Instead social media accounts are havens for companies who are looking to market their products to a targeted audience. So if you already have an extensive social media presence on Facebook, Instagram or YouTube with thousands of followers, then creating a social media marketing agency can become a profitable business. A social media marketing agency will allow you to promote products related to cooking, weight loss and more on your existing accounts, while you earn revenue per post. Additionally, you can also use your experience in creating social media accounts and attracting followers to help companies who want to create a successful and robust social media presence.

As a social media marketing agency can be setup from the comfort of your home and run on servers online, you can work at your convenience and build wealth without holding down a regular 9-5 job. Importantly running a social media marketing agency provides inexhaustible opportunities to travel, dine out and have fun while recording your activities in the form of photos and videos that earn money.

Setting up a social media marketing agency is currently one of the top ways to earn money online because most companies whether they are large or small, have not concentrated on building a strong social media presence over the years. Therefore companies that want to break out of conventional methods of marketing and make use of the latest social media marketing trends, often look for agencies that can handle the task. By opening a social media and internet marketing firm that can handle the ever-changing rules of social media websites and effortlessly promote services and products, you can earn an average of $10,000 to $60,000 per month.

Tips for setting up a social media marketing agency

Create Instagram stories that are 15 seconds long in vertical video format to promote products and services

Tie up with Vloggers running popular vlogs or YouTube Channels

Building wealth fast whether it is done online, in a brick and mortar store or office requires a number of specific skills. If you have the skills necessary to set up a blog, write an eBook or start a social media marketing agency then you already have the building blocks necessary for earning money online. In addition to using your skills,it is also helpful to partner with a team of dedicated people who have similar goals. With the right skills, and team in place you can start working towards financial freedom while having a decent work life balance. Diversifying your online business portfolio with multiple entrepreneurial ventures picked from our list above is a smart way to build wealth using the Internet. If one of your online business ventures does not work out, just switch to another on our list.

Its easy to earn money via blogging, simply request a guest blog post service and increase the number of viewers, increased viewers is increased pay.

Business

Research exposes the £68.8 billion opportunity for UK retailers

Published

on

Research exposes the £68.8 billion opportunity for UK retailers 1
  • Modelling shows increasing the proportion of online sales by 5 percentage points would have significantly boosted retailers’ revenues during the first lockdown
  • 72% of Brits want retailers who started an online service during the pandemic to continue operating it full time

New data released today by global payments platform Adyen, outlines the economic gains that could be accessed by getting more UK retailers online.

Economic modelling conducted by Cebr for Adyen indicates that if the retail sector increased the proportion of turnover stemming from online channels by 5 percentage points, £68.8 billion would have been added to the economy during the first lockdown.

While retail turnover stemming from online sales has grown significantly during 2020 – from 19% to 28%[1], there is still considerable room for growth.

Myles Dawson, UK Managing Director of Adyen comments: “The UK retail sector is facing an incredibly tough quarter, so creating the link between physical stores and online channels is more important than ever. With the festive period approaching and many shoppers unable, or uncomfortable leaving their homes, establishing and maintaining a positive online experience is a billion-pound opportunity for retailers.”

The research[2] of 2,000 UK consumers found that 31% are less likely to shop in physical stores now because of positive experiences shopping online during the pandemic. Furthermore, 72% of these consumers want retailers who started an online service during the pandemic to continue operating it in the long term.

However, making the process of shopping online as frictionless as possible will be key to unlocking the opportunity presented by online channels. 70% of Brits say that when shopping online, the ease of use is as important as the quality of the product, and 72% won’t shop with a retailer whose website or app is difficult to navigate.

Myles Dawson concludes: “Many retailers did amazing things during the pandemic in terms of adapting and creating new experiences – it’s a testimony to their agility that 57% of Brits said their expectations of the retail sector has improved during the pandemic. The challenge now is to consistently meet these expectations going forward. With local lockdowns in place, online channels will be key to serving many consumers in the short term. However, retailers need to see the shift to unified commerce as a long-term trend. The sooner they can demonstrate agility and jump on board, the longer they’ll reap the rewards.”

[1] https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/august2020

2 Research conducted by Opinium Research LLP

Continue Reading

Business

Want to serve your customers better? An effective online strategy is what financial institutions need 

Published

on

Want to serve your customers better? An effective online strategy is what financial institutions need  2

By Anna Willems, Marketing Director, Mention

A strong online presence matters.

Having a strong online presence, that involves social media is now a crucial part of all business strategies. Whether they are retail brands, sports teams, libraries or even restaurants, most companies are investing more and more in developing their digital brand image and online presence – financial institutions are no exception.

When it comes to market trends and innovation, financial institutions are first on the line. After all, we — people and companies — trust them to manage our money to the best of their abilities. And even more so than any other market, we demand secure, trustworthy, fast and user-friendly services.

Reaching such high expectations is not a given. To this point, banks and other financial institutions have no other choice but to have a perfect understanding of their market, their audience, and their needs. What they need to get there is a fail-proof online strategy.

Gaining a deep understanding of your market

One of the best things about using social media to learn about your audience is that people give unsolicited opinions. They speak their mind and share their thoughts candidly.

This is the key to help any business to learn about themselves. They get to analyze their audience’s challenges and aspirations without having to ask them directly or serve them time-consuming surveys and polls.

UK-based Asto, a company that is part of the Santander Group, is committed to helping small businesses have access to financial and non-financial tools. Asto was looking for something that could help them discover what their target audience was talking about and find opportunities to add to the conversation. Mention enabled Asto to keep on top of reviews and customer comments, which has helped us provide a better service for our customers.

Which platform suits your offering the best?

There’s no point choosing to create campaigns on TikTok if your customers don’t use it – you need to think about who they are and work back from there.

You do this by automating the process using a social listening tool. A social listening tool will help you to view your market as a whole and identify where the key conversations are happening — and, therefore, where you should be. What’s more, you will never miss any relevant mention of your institutions, products, services, or competitors.

Handling a crisis

Financial institutions need to watch carefully for negative press – social media is the first place people will go to if they feel they’re not getting the service they need. In theory, rogue employees or unhappy clients can post anything they like online to try and hurt your brand. And if their messages gain traction, you’ve gone from one person saying bad things, to thousands.

That’s why listening needs to be part of any crisis management plan. Now, sometimes, there are crises you cannot prevent. And those usually hit pretty hard.

Power of influencers

For an influencer marketing campaign to work for your financial institution, partnering with nano content creators may well be the best way to go. They’re ability to play a part in how they shape your brand story can make a huge difference when it comes to engagement and reason to believe in your service.

Many financial institutions are already leveraging influencer marketing. It’s an efficient strategy to: Build trust and gain credibility, reach out to new audiences and share engaging stories.

The online review conundrum

94% of consumers check online reviews before they decide to buy something or subscribe to a service. They need what we call social proof. It says that the more people say they use your service, the more it will look like a good service. In short, you need to show how happy people are using your service. But not all online reviews are positive.

Having said that, we find that financial institutions shouldn’t ignore negative reviews. Instead, embrace them as an opportunity to rebuild trust in your brand. Less delicately put, take the bull by the horns and turn them to your advantage. Always respond to relevant complaints (and as fast as possible). Take responsibility for what happened. Be helpful.

And ignore trolls.

Learn from the competition

Over the last two decades, a marketer’s daily life has greatly evolved. Most importantly, we now can measure everything we do, including the consequences of our actions on our business. Having said that, you can’t evaluate how well you’re doing without comparing against

others.

Truth is that 77% of businesses rely on listening to keep an eye on their competitors. What this means is that 4 in 5 of your direct competitors are likely watching each and every single step you take. And you should do the same.

Setting the trend

From staying up to date with the latest industry trends and innovations, to keeping an eye on the competitors’ newest services, to being the first to know of potential brand crises – tracking relevant online conversations lets marketing and communication professionals working for financial institutions to stay one step ahead in an industry that is leading change and innovation.

Continue Reading

Business

Why the Boom is Long Overdue (and Here to Stay)

Published

on

Why the Boom is Long Overdue (and Here to Stay) 3

By Roger James Hamilton, CEO, Genius Group

Virtually every aspect of our lives has been taken over by tech, so why is it that our schools, that are educating the business leaders of tomorrow, are still operating in much the same format as they did 100 years ago?

The global pandemic put digital learning in the spotlight and an Edtech boom has ensued, with companies like Coursera, Quizlet and Udemy seeing unicorn style growth. And the market is not slowing down. The education technology (Edtech) boom will continue.

Resilience and Growth

Unicorns are defined by rapid growth. Traditionally, these companies are not overly concerned with early profitability, long-term sustainability or value creation as much as with putting their competitors out of business.

But something different is going on in the Edtech market. The unicorn has lost its appeal. When learning platform Quizlet achieved unicorn status this year, CEO Matthew Glotzbach was keen to play down the moniker reserved for start-ups valued at $1 billion or more, preferring to liken his company to a camel.

Unlike unicorns, camels are real, hardworking beasts. Respected for their adaptability to various climates, resilience, and abilities to survive for long periods without sustenance. These are all traits much better suited to weather the economic storms created by the pandemic.

Despite their considerable abilities to adapt to challenging conditions, the climate is looking particularly sunny for camels within the Edtech market. In fact, all creatures great and small have the potential to capitalise on unprecedented growth in this sector.

The nature of education makes it a traditionally slow-moving area, which renders it unattractive to some investors. Yet, the coronavirus outbreak and subsequent surge in remote learning this year triggered a flurry of uptake in e-learning platforms.

We’ve seen the adoption rate for new technologies be accelerated by events like this before. For example, the SARS crisis of 2003 contributed to the boom in China’s ecommerce industry, as quarantines lead consumers to shop online. Of course, this market trend did not slow down once quarantine restrictions were lifted. Ever since, global online sales have risen exponentially. The same is set to happen in the Edtech market.

Providing a Solution

As with ecommerce in 2003, the demand for Edtech in 2020 was already there. It has been there for years. For the past decade at least, there has been a notable need in recruitment for qualified talent in data science, coding and digital. Edtech can bridge the skills gap, not only within formal education but also for adult learners upskilling and reskilling for today’s digital world.

Similarly, the financial crash of 2008 had the effect of fast-tracking the rise of the gig economy, requiring millions more to learn entrepreneurial skills. The idea of a job for life is now a distant memory. The Edtech sector can deliver the tools to equip students of all ages with the skills necessary for creating their own opportunities, as well as exchanging knowledge and collaborating in a digital economy.

Rising unemployment, as well as competition for jobs and government furlough schemes has seen interest in digital learning courses for adults also soar during the past few months. Figures show that the corporate e-learning market is set to increase by as much as $3.09 billion between 2020 and 2024.

Roger James Hamilton

Roger James Hamilton

The Edtech boom kickstarted by the pandemic is just the beginning in a paradigm shift in how we view education and work.

Over the next 10 years, with the rise of artificial intelligence, automated technology, and augmented reality, traditional, manual and customer service based roles will diminish and there will be less need for a large workforce when computers and machines can do the role equally well.

The need for a truly 21st century education system that reflects the needs of the job market is long overdue. Edtech companies are offering solutions to many of these issues that have troubled the economy for the past decade or more.

A Different Animal

Enter the zebra (back to our animal analogies). These types of Edtech businesses will be the ones to watch within the sector. With zebra companies, there’s a sense of community and collaboration, rather than competition. They understand that there’s room for more than one superstar in a market. Zebras are herd animals after all. The zebra believes that competition is healthy for everyone involved—something to watch and use for motivation and growth. It closely observes consumer trends and continually strives to solve new and developing problems for those consumers.

For zebra companies, profit margin is vital because it is necessary for steady growth and sustainability. Revenues hover between $5M and $50M, it serves customers within a specific niche, requires annual growth capital of $100K to $1M, and generally has more than four streams of revenue.

Zebras are both black with white stripes and white with black stripes – they have a fluidity in their approach and are camouflaged at the same time. This creates a double bottom line: Zebras want to conduct real business, by solving a pressing problem in a sustainable way, whilst reacting to contemporary challenges. This too could be said of the Edtech industry as a whole.

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2020
2020 Global Banking & Finance Awards now open. Click Here

Latest Articles

Research exposes the £68.8 billion opportunity for UK retailers 4 Research exposes the £68.8 billion opportunity for UK retailers 5
Business1 day ago

Research exposes the £68.8 billion opportunity for UK retailers

Modelling shows increasing the proportion of online sales by 5 percentage points would have significantly boosted retailers’ revenues during the...

Want to serve your customers better? An effective online strategy is what financial institutions need  6 Want to serve your customers better? An effective online strategy is what financial institutions need  7
Business1 day ago

Want to serve your customers better? An effective online strategy is what financial institutions need 

By Anna Willems, Marketing Director, Mention A strong online presence matters. Having a strong online presence, that involves social media...

The rise of AI in compliance management 8 The rise of AI in compliance management 9
Technology1 day ago

The rise of AI in compliance management

By Martin Ellingham, director, product management compliance at Aptean, looks at the increasing role of AI in compliance management and just...

Simplifying the Sector: How low code can aid digital transformation in financial services 10 Simplifying the Sector: How low code can aid digital transformation in financial services 11
Technology1 day ago

Simplifying the Sector: How low code can aid digital transformation in financial services

By Nick Ford Chief Technology Evangelist, Mendix From online banking to contactless payments and Apple Pay, it has been well...

Why the Boom is Long Overdue (and Here to Stay) 12 Why the Boom is Long Overdue (and Here to Stay) 13
Business1 day ago

Why the Boom is Long Overdue (and Here to Stay)

By Roger James Hamilton, CEO, Genius Group Virtually every aspect of our lives has been taken over by tech, so...

5 Sustainability Lessons That Are Crucial For Business Success 14 5 Sustainability Lessons That Are Crucial For Business Success 15
Business1 day ago

5 Sustainability Lessons That Are Crucial For Business Success

By Michael Stausholm, founder of Sprout World (sproutworld.com) Sprout World is the eco-company behind the world’s only plantable pencil, with...

Why financial brands need to understand consumer vitality 16 Why financial brands need to understand consumer vitality 17
Business1 day ago

Why financial brands need to understand consumer vitality

By Carolyn Corda, CMO at data consortium ADARA Our day to day lives have been turned upside down. Office workers have...

Why and how a modern marketing strategy should put customer experience first 18 Why and how a modern marketing strategy should put customer experience first 19
Business1 day ago

Why and how a modern marketing strategy should put customer experience first

By Jim Preston, VP EMEA, Showpad In 2004, the Leading Edge Forum coined the term ‘consumerisation of IT’, defining a...

Leading from the front - why decision makers must embrace automation 20 Leading from the front - why decision makers must embrace automation 21
Technology1 day ago

Leading from the front – why decision makers must embrace automation

By Jeppe Rindom, Co-founder & CEO, Pleo Ask any decision maker at a business about admin and you’re likely to...

Business first, not compliance only is the future for accountants 22 Business first, not compliance only is the future for accountants 23
Business1 day ago

Business first, not compliance only is the future for accountants

By Peter Bracey, MD at Bracey’s Accountants.  The past few months have underlined the need for better business insight to reduce...

Newsletters with Secrets & Analysis. Subscribe Now