#1. Internet business: Become a seller on Amazon.
Amazon is a monster. According to eMarketer, Amazon accounted for more than 43 percent of e-commerce sales in the United States during 2017 — and about half of those transactions came from third-party sellers. There are many advantages to joining Amazon’s ranks:
- Given the site’s popularity, you can tap into a gigantic amount of traffic. Many consumers are ready to buy when they visit Amazon.
- You operate under the umbrella of the biggest and most trusted name in online retail. If you opted to launch your own e-commerce website from scratch, you’d learn that establishing trust is perhaps the most difficult and time-consuming part of the job. Selling through Amazon omits this entirely.
- You easily can manage your entire online business through Amazon’s Seller Central dashboard.
So, how do you get started? First, you need to choose your Amazon category or niche. These include labels such as clothing, healthcare, jewelry, electronics, beauty and more. Then, identify which products are in high demand.
The easiest route is to become a Fulfillment By Amazon seller. This means Amazon will take care of shipping, delivery, returns, exchanges, and other logistics. You’ll need to stay in tune with supply chains and demand estimates. Tools such as forecastly make this task simpler. And Sourcify can help you find a manufacturing facility if your idea includes creating a new product.
It’s easy to become an Amazon seller, but being a successful one requires a good deal of work on your end. In addition to choosing the right niche, you must demonstrate some savvy marketing skills. While Amazon functions as your sales outlet, you still need to market yourself as you would a typical business. This involves blogging, social media, email marketing, forums and other activities designed to direct traffic to your Amazon Seller page. Netrush is just one company that can help you establish your brand on the Amazon marketplace after you start making sales.
If you pay close attention to trends and market your products correctly, you can make serious money. Entrepreneur, investor, and yogi Nate Ginsburg sold his Fulfillment By Amazon business for $1 million after three years.
#2. Internet Business: Become a Facebook advertising consultant.
Facebook has taken over the online advertising market. In 2016, Facebook accounted for 77 percent of the digital ad industry’s overall growth. It’s safe to say Facebook is giving Google a serious run for its money in the world of online marketing. Facebook has enabled all types of small businesses to advertise online with a smaller budget – something that wasn’t possible in the past.
To illustrate the effect, Google’s cost-per-click for digital ads is $10. Spend that same ten-spot on Facebook, and you get 10 clicks. It’s just one reason I predicted last year that Facebook will beat all other digital marketing channels.
Helping Internet businesses use paid campaigns to establish a Facebook presence is a fantastic way to make money online. However, even though the technical side of advertising on Facebook is made easy, it’s not exactly a cakewalk. You need skills to write a copy that converts sales, conduct in-depth research on audience profiles, find the best times to promote, keep a close eye on result metrics and glean the proper insights. Of course, you also must have exceptional client communication.
In reality, Facebook advertising puts money into a system over which you have a limited amount of control. Be sure you do your research on the profession beforehand. Others’ experience shows you can make a lot of money this way if you understand the market. In 2014, former pastor Nicholas Kusmich and his wife capitalized on the emerging market for Facebook advertising. The couple opened a boutique Facebook marketing agency that brought in around $2 million in 2017.
3. Internet business: Become a part of the cryptocurrency ecosystem.
If you’ve tuned into the news over the past few months, you’ve certainly heard something about the drastic surge of bitcoin and the rise of blockchain. Based on the huge spike in demand, bitcoin is shaping up to potentially become the universal digital currency. The result? Everyone worldwide could make international transactions without worrying about exchange rates or fees to third-party banks.
In terms of Internet business opportunities, there are several possibilities to consider.
One of the most popular is becoming a cryptocurrency trader. If you want to get in on this gig, now is the time. Cryptocurrency trading or digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid-ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees.
Bitcoin mining is also another opportunity that the cryptocurrency exosystem presents. It is a nonstop online accounting process by which transactions are verified and compiled into the public ledger. While you can make good money doing this, it’s important you understand what you’re getting into. The idea may seem simple, but the actual practice of bitcoin mining takes a good deal of effort.
Startup costs generally run pretty high, and you need to choose the right hardware, software and bitcoin wallet. You also must make regular upgrades to your equipment — all while keeping a close eye on the bitcoin market. As long as you stay on top of your research and updates, this can be an incredible way to boost your income.
Another stellar opportunity within the cryptocurrency ecosystem involves solving niche or industry-specific problems using blockchain. Blockchain companies are on the rise, and industries around the globe are changing. The concept is very new, so becoming a consultant can be a great way to make money while you play a role in disrupting the status quo altogether.
For example, many freelancers use popular sites such as Freelance.com and Upwork to connect with companies. These platforms take a cut of the earnings from each project. A blockchain system essentially cuts out the middle person, connecting freelancers with companies directly and avoiding work-based fees.
Written by: Manish Dudharejia