With the advent of internet, starting an online business while employed full time is no longer as hard as starting physical business. Unlike physical business, online business can be started at the comfort of your own home with just a laptop and good internet connection.
Benefits of Having Online Business
Managing an online business does not require your physical presence at any particular location. You can run it anywhere as long as there is internet connection. All you need is an email address to communicate with your business partners and customers. You might need a website where your business partners and customer can visit, instead of visiting you in person. Another benefits, are; you have global access 24/7, cost effective business operation and fast delivery of your products or services.
Things to Consider In Starting Online Business While having Full Time Job
- Ensure that your time in your regular employment is not affected by your online business activities and done at your place and during your work hour.
- Set aside time for your online business activities outside of your company time.
- Choose a type of online business that will fit for you free time outside of your company time.
- Check aspects of your online business that could be outsourced to leverage time of other people.
- Conduct a thorough research as to the ins and outs in all aspect of the online business that you have chosen.
- Look for the current trends of the online business you are choosing and seek for advice from those who have knowledge of similar kind of business.
- Have a clear goal in mind as to be definite of what are you aiming to achieve.
- Set aside portion from your regular salary to be spent on your online start up capital should the need arises.
- Have the tenacity to keep going should the initial failure manifest and do not be discourage by initial setback as in you end you will success.
Starting your online business while still employed full time, is a great strategy in achieving your dream of having another source of income while maintaining your regular job.
Ideal Online Business for Newbie and Very Minimal Start up Capital
- You Tube Online Video
- Drop Shipping
- Affiliate Marketing
Create a You Tube account create valuable content in a particular topic something that will attract large number of audience and upload them in your You Tube Channel. Enable monetization on your account settings to signify Google to include adsense ads with your videos so that when viewers click on the ads you will get paid. If you garnered large views on your channel, companies will pay you to promote their products. Another thing, if you have website you can drive your viewers to your site where they can click or view your products.
In this online business platform the blog owner or the blogger regularly post contents which are somewhat similar to an online diary or journal where the writer shares perspective and opinion related to a particular subject. It focuses on written content. Bloggers usually write personal opinion which allows their readers to interact.
Similar to a regular website, blog site usually has also its structure which comprises the following;
- Header with navigation bar
- Main content area highlighting the latest blog posts
- Sidebar with call to action
- Comment section for their readers
How to Earn Money through Blogging
- Google Adsense or other ad network – sign up for this program with Google or other ad network and get a code, copy it to your website and ads relevant to your topic will appear in your website. Every time somebody clicks on the ads you will be get paid by Google or other ad network you signed up with
- Promoting other peoples’ stuff as an affiliate – Simply putting links of products relevant to your blog topic, when someone buys through your affiliate links you will get paid through commission.
In Drop Shipping, it means a service that a supplier provides to your customers instead of you having stock inventory of your own products. Supplier directly ships to your customers. It means you never touch the product. It differs from the usual retail store model, simply because you don’t need to own an inventory, you only purchase inventory as needed from the supplier who will fulfill the orders of your customers from you. In this model it discounts the possibility of having stock that might not sell and hassle of handling delivery to your customers.
Here is the basic principle how Drop Shipping works;
Post the products on your website or any other selling platform. When your customer placed an order you collect the payment and purchase the product from your supplier for a lower price. Your supplier directly sent the product to your customer.
Of course like any businesses, there is also downside to this kind of online business. The obvious downside is that you don’t have control in the delivery process, hence, if your supplier did not do well in fulfillment of your customers’ orders your business will be in jeopardy. If that’s happens your customers will shy away from you.
In its simple term, this means promoting other peoples’ product and get paid through commission. This is a type of marketing to which a person is paid by bringing customers to other people’s product through his own effort. This model normally comprises of four major components; The seller, the network, the publisher / affiliate, and lastly the buyer/customer. It has an slight similarity with Drop Shipping wherein you don’t need to stock a product of your own and no need of worrying as to how a product can be ship to the customers.
Types of Affiliate Marketing
- The most popular type of affiliate marketing is through online platform wherein you come up with your own website to which you can promote other people’s products through a link provided by the affiliate company. When a customer click on this link and buy something, the affiliate company has a way tracing that such customer came from your website and you will get paid through commission.
- Another type of affiliate marketing is promoting other people’s stuff through your social media network. When your social media audience click your link they will be directed to the product sales page when they buy something, you will be paid through commission.
- Last but not the least is email affiliate marketing. In this type of marketing you send out emails to your prospective customers with the link of product you are promoting, if they buy something through your link, you get paid through commission. You just have to be careful being accused of spamming, so you need to seek consent first from the people you are sending email.
Basically, affiliate marketing can be easily started by picking profitable niche, build a website around your niche, find affiliate programs which offer related products and promote them through your website.
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