There are different ways to start your own business. You can start a business online, by starting a company, or by starting a franchise. Each way has its own set of steps and requirements.
This article will outline the steps to starting a business, no matter which route you choose.
1. Research your business idea.
Before starting your business, you first need to decide on a business idea. Do some research to see if there is a market for your product or service. If you have an existing business, research your competition to see how they are doing and what they are doing better than you.
2. Choose a business model.
There are three main business models
Company
Franchise
Online business.
A company is a single owner business. This is the most common business model.
A franchise is a business that is owned and operated by a franchisee.
A franchisee is usually someone who has experience in the business. Franchises usually have
Online business, advantage of online business is that you can start alone or and scale it as you grow. Another advantage of having an online business I that you work from home and you plan your business according to your needs.
How to start a profitable online business from home
work from home
1. The best way to make money online is affiliate marketing with recurringcommission. this is where u sell other people’s products or services and get a commission when someone buys the product or service using your affiliate link.
What is an affiliate link
Affiliate link is a special tracking link which you use when promoting a product or service. U use that tracking link to promote using paid advertising or or free traffic.
What is recurring commission
As an example let’s say Bluehost it is a web hosting company so anyone who is using the services inside Bluehost is paying the subscription every month. So Recurring commission this is where you promote a product which have a monthly based subscription and get paid recurring commission every month. That’s a recurring commission.
Let’s say you refer 20 people to Bluehost and on Bluehost monthly subscription is $50 that means every month you are getting a recurring commission of $1000. If you want to scale bigger u keep on advertising the services but if u don’t advertise you will still get your recurring commission if the users are still using the services.
That’s the best way to make money online u have to promote recurring products or services.
The best about affiliate marketing with recurring monthly commission you can advertise wants then keep on getting paid without advertising the product or service.
2. Make money with Google ad
If u want to make money with Google ad this is where you create a website or blog on a sertain niche example like fitness, health, insurance, dog training, news website and many more when you have a sertain niche you are writing about in your blog u then apply for google ad.
this is where Google ad display advertisements on your website or blog and get paid for that it’s pretty cool right.
You need to put more work on traffic. More traffic more earnings from adsense. More more visitors on your the more you are earning money using CPM and CPC.
CPM cost per thousand impressions. CPC means cost per click. So from Google adsense you get paid per 1 thousand impressions CPM and on cpc u get paid when visitors clicks advertisements from your website.
3. Freelancing
Do you have any skill you are passionate about? Example like graphic designing, social media consultancy. if you have any digital skill you can be a freelancer online where you offer your services to people on a platform like fiverr.
Fiverr it’s a digital market place. U can make a lot of money if u are a freelancer. There are so many ways to make money online but this are my top 3 ways to make money online if you want to start your own business.
