With the continuous growth of the cyberspace, a lot of breakthrough is being made in different business sectors, and the ease of transacting business has grown with it. Unemployment is also reducing, and within the confines of your home, you can easily do business and make yourself a lot of money.
This post contains information on 3 online businesses that can fetch you cool money if pursued seriously.
DROP SHIPPING
Unknown to a lot of people, drop shipping is the best form of retailing. It simply involves buying on behalf of someone else. This is how it works: You know someone who wants to buy a product. You collect the contract of buying the product for the customer, order from your producer and get it shipped to the customers within a deadline. You don’t even need to see the product or stress yourself with delivery.
The biggest difference between this and the regular retail sales is that you don’t have to stock the product to sell. Instead, you purchase from a third-party to fulfill customer’s desire – usually a wholesaler or manufacturer.
The biggest advantage of drop shipping is that you don’t need a huge amount of money to start. This means that it is possible to start an e-commerce store without having to spend heavily on inventory.
With drop shipping, you don’t have to buy a product unless the customer has made payments. So it is possible to start it without much capital.
All you need is just your store, and once a purchase is made, you can immediately order for goods to be sent to the customer.
You can set up your store anywhere and anytime, just with the help of your laptop and internet connection. And you can easily communicate with your suppliers and customers.
Also, because you don’t need to stock up a product, you are exposed to a wide selection of products from suppliers, which you can order at anytime and anywhere.
There are so many other benefits to it, but you need someone to guide you through the learning process, as it comes with its own complexities.
AFFILIATE MARKETING
Affiliate marketing and drop shipping are kind of related, but work with different models. This business can earn one a lot of money in commission if you know its ins and outs.
The secret to this business isn’t just knowing all the theoretical jargons like most websites would tell you, it is about being in the business and knowing everything about it.
Affiliate marketing basically means directing a buyer to his product of choice through a personal dedicated channel allocated to you by the originator of the product the customer intends to buy.
The basic beauty of starting this affiliate marketing is that you can make money even while you sleep. You have no need being awake all the time.
The major players you must take note of in the affiliate marketing world are; the producer (the person who owns the product you intend to sell to the customer), the Middleman (Affiliate Marketer) which is you, and the target audience (People whom you are going to sell to).
Examples of companies that offer decent commission to their affiliate marketers are – Clickbank, Amazon, Convertkit, Shareasale, etc.
SMALL SCALE IMPORTATION
Believe it or not, this is one lucrative business that is open to everyone on the internet. The beauty of it is that you don’t need any technical expertise to get involved.
With Mini Importation, you stand a chance to earn some money by importing things at a very cheap rate and selling at a higher rate. However, to succeed as a mini importer, you must understand the business in and out, before you make a move.
There are several things you would need to consider before importing mini goods into the country, including;
- SIZES OF GOODS
Not every product is classified as mini importation. Due to the increase in the price of dollars, there are products that would sell and the ones that won’t.
- PURCHASE LOCATION
There are so many online stores, so it helps to know which one would serve you best.
- TARGET AUDIENCE
Who are those who will purchase your product? How can you be able to reach them and sell to them without stress? Working out these issues is important for success in the business.