And how anyone can start right away.
It’s no secret to anyone now. We are headed into a recession. The effects of the coronavirus outbreak and the stay-at-home orders put in place have caused the economy to come to a grinding halt. Jobless claims are going through the roof and it seems that the idea of making extra money or growing wealth is out of the question.
But is it, really? Did you know that during the Great Depression starting in the late 1920’s there were more millionaires created than in any other time in American history? Yes, a recession means a dramatic shift in how business is done and a lack of financial security in many traditional markets. However, there is a financial truth you must understand, especially during a recession. It’s simply this: money does not disappear. The flow of money just changes directions.
All you have to do is find where the flow of money is going and get in the current. Perhaps the best place to go is online. Right now, while people are stuck at home, online browsing, shopping, and video streaming are booming. People are spending more time on social media and consuming more online content than ever. If you have something to get their attention and you can provide value to them, they will gladly pay you for it. This is the basis for any online business.
Have you ever heard of Pat Flynn? He runs the website SmartPassiveIncome.com. He easily makes over $2 million dollars a year from his online business. No, it’s not any kind of scam or get-rich-quick gimmick. It’s a realm business offering real value. He started his online business in 2008 after being let go from his entry-level architecture job – the career he went to school for and worked hard to get into.. When the recession hit in 2008, he was one of the millions of casualties of the financial crash. But he pivoted and started to build something of value online. Today, he is one of the most respected online business experts in the world.
I’m not telling you that you will start making millions of dollars this year if you start an online business. But I am telling you that if you’re willing to do the work, continually learn and apply what you learn, and take the risk of actually starting an online business, you could easily replace your current income…eventually. The truth is that most people who start an online business give up very early in the process. If you have a solid idea and you put hard work into building it consistently for a year or more, then it will pay off. Most people quit after even just a month.
So, what could you start today? You may be thinking that you aren’t savvy enough to start an online business, but that’s simply not true. The barriers to entry are so few now, that all it takes is some persistence and trial and error. Here are some easy online business ideas you could start pursuing today that could pay off huge if you stick with them.
Online Businesses You Could Start Today
1. Your own Blog
If you missed the “Online with Dock Line” article in the January 2020 issue of Dock Line Magazine, it’s worth reading. In the article, we discussed how to start your own blog. It’s one of the easiest ways to start an online business and all you have to do once it’s set up is to start sharing your knowledge about a specific subject. Over time, you’ll get more and more visitors to your blog and you’ll be able to package your knowledge into a product like a book or online course. You can also place ads on your website for additional passive income. If you stick with and publish consistently for 2 years, it will make money if done right. If you want a step-by-step guide on starting your own blog, just go to our “How to Start a Blog” article at docklinemagazine.com/how-to-start-a-blog. You can have your own blog website up and running for less than $100 easily and you could start publishing content today.
2. Affiliate Marketing
If you don’t have your products to sell, you can easily sell other people’s products and earn a commission on each sale. For instance, Amazon has an affiliate program that is free to join, All you have to do is share a link to a product on Amazon and if someone clicks the link and buys the product, you’ll get a commission off the sale. There are many people making a lot of money every month just from Amazon affiliate links. There are many other companies that offer affiliate programs for their products. All you need is a simple website, like a blog, and a place to publish the affiliate links, like in helpful articles or resource pages.
3. Social Media Marketer
Do you spend a lot of time on social media? Do you know how to easily create attractive posts that other people love to engage with? Are you good at creating conversations online around social media posts? Do you know how to run simple ads on Facebook and other platforms? If you can do any of those, businesses will gladly pay you to do it for them. Most business owners don’t have the time to spend creating social media posts or running ads on social media platforms. Many businesses will gladly pay $500 – $1,000 a month or more to have someone do it for them. You don’t even need a website to market your services. Just create a Facebook page for your business and start running your own ads promoting your services. Create a few different options based on the amount of posts and ads you’ll create and start reaching out to businesses offering to help them grow online.
If you’d like more info on how to start an online business, or if your business needs an online presence to keep growing even during a recession, just let me know! Send me an email at [email protected].