What a crazy world we live in… It’s a time when many changes are happening all at once. But the one thing that has been not only impacting Americans but the whole wide world is a horrible virus we all know as the Corona Virus. We are currently at a point where people are being laid off work or being sent home due to the prevention of spreading.
Now that we understand the situation a little better, it is extremely important to take necessary action to better position yourself and your family. With the ever growing online space you have endless opportunity to take action and create some passive income online and it’s not as complicated or as difficult as it may seem.
Starting An Online Business – Ideas
During this quarantine period we must stay home and wait out the virus to slow down. In the mean time you have endless options of what you could be doing and spending your time. You could clean your living space, watch TV or a movie, play games, read a book, learn how to cook something new, the options are endless. But what if you could do something productive that could make you some extra money on the side?
There are hundreds of different online business you can start right from your home with a computer and an internet connection. Let’s go over some of these and dive into which one would be best fit for you:
Drop Shipping – Probably the most popular form of online business there is. This business model is basically an online store where you ship products to customers directly from the supplier. Forms of this can include shipping from China (aliexpress/alibaba) which probably isn’t viable right now, shipping directly from manufactures in the United States, and shipping your own merchandise. It does take a while to set up the store and find dealers but can be very lucrative when done correctly. I currently only recommend Anton Kralys: DropShip Lifestyle program as it is depth and has awesome content. I personally did not want to deal with products and shipping but that shouldn’t stop you.
- Build a long term business that can continue to grow or can be sold off for a large sum
- Continues to lead in marketing because new products and services are always blooming
- Can hire a Virtual Assistant (V.A) that can help you automate tedious tasks for auto pilot
- Can be difficult to “get off the ground”, since shipping, ads, and inventory require additional effort
- Requires a start up fund typically of $2000 or more
- Returns, cancellations/charge backs, and fraud are part of the business and have to be taken care of
Consider if: You want to build your own store from scratch and have a great niche to enter the market with. Want to create a long term business plan that will continue to grow as you work on it consistently. Have the time and patience to study hard and willing to spend money to make money.
Amazon FBA – A new player in recent years and has a somewhat similar model to drop shipping however, this time Amazon holds onto your merchandise and ships out to buyer over Amazon. Another great model if done correctly but has a much larger start up capital and requires all of your time and attention. Maybe not a good idea for a side hustle, but definitely a great idea if you’d like to build a concrete business backed by Amazon themselves.
- Support from Amazon directly, you become a partner and have priority if you run your business well
- No need to worry about storage and organizing inventory, Amazon takes care of that for you
- Much easier to sell products since your inventory is on Amazon, plus tracking and shipping are at Amazon standard
- Expensive to start out, requires a fund of around $5000 minimum to fund
- Must pay Amazon monthly for inventory storage and maintenance, which is not cheap at all
- Entering the Amazon marketplace can be tough, since there’re hundreds of thousands of products already on the site
Consider if: You have a large starting capital and willing to invest the time and energy on how the business works. Are willing to invest a lot of time on product research and able to spot out hot items that will sell for a good profit, and of course, want a long term business plan that can later be grown or sold.
Affiliate Marketing – My personal favorite of the list. Requires little to no start up funds and can be done passively at your own pace. However, it does take a while to “lift off” depending on how hard you’re willing to work. This model is essentially promoting other people’s or companies products/services for a commission. This can be done in a variety of ways such as but not limited to: Online advertising, website building, blogging, forum posts, YouTube videos, and much more.
- Small start up costs (depending on how you choose to start)
- Can be built and set on autopilot or be expanded to grow rather large
- No dealing to merchandise, returns, fraud, and payments
- Can be done solo full-time, no need to hire anyone if you choose not to
- Niches/ideas can be competitive or hard to rank in Google
- Doesn’t necessarily have a “sell-off” option as you don’t have a store to sell off
- Requires more time and content to launch and see traffic flow
Consider if: You are a passionate person with fulling hobbies and ideas. You enjoy sharing and talking about the things that interest you and don’t mind creating content that revolves around it. You are willing to take the time to set up your site and promote it all over the web. Lastly, want to create another stream of income that could potentially become your main line.
There are countless possibilities to starting an online business but to make things short and simple; in a time like this we should be focusing on creating a long term business plan. Reasoning, well take a look at the current situation in America, stocks are falling, 401K’s dropping, and the virus doesn’t seem to be slowing down at the moment. Even after everything blows over, what will happen the next time we have a pandemic like this one?
With that being said, going with the option three, I strongly recommend Affiliate Marketing for anyone! Since you will not have to deal with physical products and sales, managing is much easier on the condition that it does require more time and “nurturing” to get up and going. However, it’s not as hard as it may seem and you’ll see why.
Affiliate Marketing Is For Everyone, Seriously!
Every single person on earth has something they are passionate about, like a hobby! What if you were paid every month just for talking about something you really enjoy by providing your opinions and recommendations on products or services to other hobbyists. That sounds too good to be true right? Well I’m happy to inform you it’s not!
I’ve made a detailed list of a timeline path you could potentially take with any hobby or niche of your choice, oh and by the way, don’t be discouraged if the mentioned below seem’s difficult or outside your “technical range” I’ll go over how simply it can be done!
Above is the skeleton outline of how affiliate marketing works and to add more to that, you don’t necessary need a website to get started. You can also write blog posts on blogging sites, create YouTube videos and add links there, and much more. The best part is, you can work on this on your own time at your own pace and report to NO ONE.
Plus+ You don’t have to be writer to be successful with website building and content creation.
How To Get Started
My goal with this blog site is to help anyone and everyone who is willing to learn; with that in mind, I am going to humbly recommend everyone to create a free account with Wealthy Affiliate. Whether you’ve heard of the company or not you will come to know that it is the best platform to build an amazing affiliate marketing business from.
I’ll touch on some key features and provide my own affiliate link for anyone who wishes to join. The best part of all this is the fact that you only need a computer and internet connection!
Reasons you should join Wealthy Affiliate to get started with your new business
There are a lot more amazing benefits included in the program and If you’d like to check out my full in-depth review of Wealthy Affiliate you can do so here
If you think you’re up for the challenge based off what I’ve posted, let me know in the Wealthy Affiliate community dashboard, I’d love to hear from you and collaborate on great ideas!
So What’s The Catch?..
I will tell you first hand there are no hidden gimmicks here and in fact, the platform is solely informational with a price that’s been steady for over 13 years. For only $49 a month you have access to an insane amount of tools and resources to help you succeed. The “value” factor is definitely there without a doubt and even if you choose to go the free route, you can still build an incredible business with it.
Honestly anyone who tells you it’s a “scam” has either never tried it or tried it and did not complete the course. It’s a shame really, because this platform doesn’t revolve around taking money from it’s clients; It is a resource for anyone to use, to create passive or even present income online.
With this virus going around and impacting the worldwide economy, it is almost essential to find another source of income outlet. With jobs closing or people being laid off, what else are we to do? We surely cannot bank on Social Security to back us up all the time.
Like the mentioned above, there is no catch to this platform. If you want to stay free you can, if you’d like to go premium you certainly can too. Your price will remain the same and in fact you can get a huge discount if you choose to buy yearly as well. Once you’re a member there are no other hidden fee’s and no external purchases to made.
Let’s Wrap Up!
Alright, so I know went on and on about why you should Wealthy Affiliate but do you truly see yourself joining and committing to your success? Affiliate Marketing, just like any other online business, requires your time, dedication, and creativity.
I also want you to know that I believe in you and whole heartedly wish you the best in whatever endeavor you choose to go with. I am personally tired of seeing all these “gurus” all over the internet promoting their courses with no real direction. Don’t get me wrong there are some out there that are legit, but honestly save your time and money and use something more trustworthy that has a solid reputation and real success from people within it.
Again, I humbly recommend Wealthy Affiliate as the platform of choice to create a wonderful affiliate marketing business online!
Also, I know by now you’ve probably heard over and over again to wash your hand frequently and to not touch your face. It is extremely important right now and should be done in order to prevent the virus from spreading! I hope you stay safe and take lots of care!
Thank you to all the readers of this post, I appreciate your time very much!