Internet Business: Create Online Money Making Sites without Investment

October 24, 2019 Business,Business Ideas,Nigeria

Internet business is rewarding. If you’re not running an online business, you are missing out big time. It is a good way of generating revenue. In other word, there are lot of online money making sites without investment you can emulate.

The internet has opened up great opportunities. With a computer, anyone can start a money making internet business.

There are various tools that will make your work easier. Research on them and choose the appropriate ones your business.

Do not be deceived by many of the so called make quick money online schemes. To be successful online, it require dedication; and most importantly, be a master of your own game.

While some use the word – online, others use internet. Remember, they both mean the same thing. For this reason, I have used both words within the context of this article.

In this article, you will learn how to create an online business. Not only will I show you the steps required, but also equip you with tips on how you make it a success.

Instead of following the norms; that is to say, listing all the traditional internet businesses. Let’s me focus on guiding you through the creation of income generating online businesses.

On the whole, you will be able to create and build an online money making sites without investment. Do not get me wrong, you will still invest some time and energy to make it one of the top successful online businesses.

As we go along, you will learn what it takes to create an online business that will be successful.

Before going into details, let’s define online business.



What is An Online Business?

An online business is any kind of trading transaction that takes place over the internet. Sometimes referred to as e-business, it involves commercial activities through the exchange of information, products and services.

Any individual or business entity that is using the internet to trade or showcase their services is running an business.

These could include any of the following:

  • Buying and selling;
  • Affiliate Marketing;
  • Coaching;
  • Consulting; or
  • Freelancing.

As can be seen, these are only few of the top home base business ideas you can over the internet.

In general, there are more of those businesses you can look into. Again, you have to do your homework to find them.

Believe me, your break-through can happen fast.

Why You Should Start An Internet Business

Internet Business Model, Winning Marketing Strategy, What is An Online Business?

Starting an online business give you wealth of benefits. Not only will you be your own boss, but also have great flexibility of your time.

Although, many still believe in the brick and mortar trading; truly, most of the brick and mortar business will not succeed without online presence.

For this reason, here are the benefits of starting an online business.

Benefits of Having an Online Business

There are great potentials for business owners to have high visibility presence on the internet. Not only will they benefits from free search engine traffic, but also be able to build a reputable brand.

Here are some of the many benefits of internet business:

  • Low Start-up Capital

Using internet for business is not as expensive as having a brick and mortar store.

In reality, the start-up capital of any physical business is always high. Also, it is time consuming. But setting up an online business require little to no capital.

Although, you will still have to inject some capital into it; nevertheless; you do not need to much capital investment.

  • Unlimited Global Access Each Day

Unlike most offline businesses that are only open to trade for few hours of the day, online trading is 24 hour open for business.

In addition, prospects and clients have global access to your website; 24 hours a day, 365 day a year.

  • Multiple Streams of Income

With your online business, you have the opportunity to create additional income stream; that is to say, increase your revenue stream.

For example, a website owner may decide to run adverts on their pages; or even take advantage of google adsense program to generate additional income.

  • Cost Relative to Profit Margin

Comparatively, the ongoing cost of operating your business online is significantly lower that that of operating a physical office.

Sometimes, a low cost budget is all you need to run it. Although, these costs may rise with time; just like Gillian Perkins pointed out in the video below.

As can be seen, the bigger your internet business grow, the more it cost. On the other hand, the more your profit margin will be.

  • Less Paper Work

I have a home based office and the amount of paper I used has decreased significantly; compared to when I was working in the office. Of course, that has saved me some money.

Significantly, the amount of paper you use running an internet business is much lesser than running an offline office.

  • Automation

Your office is your computer. Many of your operation can be set on autopilot.

There are software and other internet business providers that can be of help to you. Depending on what you are into, you should be able to find resources online that will take care of that.

In case you need help with internet service providers, I will list some at the bottom of this page.

  • Improve business efficiency and productivity

Gone are the days when most things are done manually. With business marketing and productivity tools, like Google Analytics, Google Drive and Dropbox, your online business efficiency and productivity will increase.

Using these tools are significantly cheap. Some cost less than the cost of a cup of coffee to use per month.

  • Flexibility

Running an internet based business gives you high flexibility. You have flexibility on how you manage your work; and how you present your business to prospects and clients.

For example, you may decide to give majority of your workload to a virtual staff, or take up the job of doing them yourself.



Starting An Internet Business Checklist

Not all that glitters are gold. To make an impact, or build a reputable brand on the internet, you need to be dedicated and be patient.

You may also need a mentor to guide you along the way. Although, your chosen mentor may not know you personally, all you have to do is learn from them.

In my own case, I learn from both Brian Dean – founder of Backlinko and Neil Patel. They do not know me personally, but I learn from what they publish online always.

Now, let’s consider those important aspects of running a successful internet business you need to know.

1. Perfect Your Online Business Ideas

Credit goes to sir Winston Churchill on the saying “He who fails to plan plans to fail”.

Having an great idea is not enough to be successful on the internet, you need to perfect that idea. Plan on how you will make that idea a reality.

Your idea may be great. But if you do not have a way to make it a perfect one, it will end up to nothing.

Therefore, this is the time to turn that concept into reality. Start your online money making sites today.

2. Research The Market

A key stage in building an online business. This is important for three main reasons.

It allow you to:

  • Provide solution to problems.
  • Check out competitors.
  • Fill the market gap.

As can be see, doing a thorough market research will show you where the grey areas are in the market.

Identifying them gives you an internet business opportunity you can take advantage of.

Two of the best online marketing research tools I use are:

With both tools, you get simplified competitor analytics; and at the same time, see the market gaps.

Personally, I use both tools and they work great for me. Additionally, you can use the software for free (limited period).

3. Create A Niche, Solve Problems

So far so good, you have researched the market. Now is the time to carve out your niche market.

First thing to remember, create a niche market for yourself and solve people’s problem. By so doing, you are opening various money making opportunities for yourself.

Regardless of the gap you want to fill in the market, your main aim is to solve problems. With that, revenue will follow.

4. Develop An Internet Business Platform

Let me start with this question. What is an internet business platform?

It is a software developed to assist you to create, manage and run your business on the internet. This could be an already existing portal that you can leverage on; or platform you develop by yourself.

For example, I use platforms like Ebay and Amazon to sell my products. They are two great example of an already existing platforms. By using them, you will be leveraging on there popularity and brand.

On the other hand, you can build your own platform. This will be your online money making sites.

To emphasize, there are stiff competition out there; but with the next step that I will be talking about, you can make it a success.

5. Promote with A Winning Marketing Strategy

Marketing is the live line of any business. In order to run and manage an internet business online, you need to have a winning marketing strategy.

I did developed a comprehensive article on types of marketing strategies that works. I recommend you take a look at it.

Within that article, I explained the most effective promotional ways of making your site more visible to prospects.

6. Monetize Your Platform

Depending on your internet business model, you can monetize you site on starting it. While there is no

Like I said, your success rate depend on your business model and marketing strategy.

There are various ways to monetize it from the list bellow:

  • Sell advert space.
  • Secure sponsorship by promoting sponsored adverts.
  • Monetize with Google Adsense.
  • Affiliate marketing.
  • Sell digital products.

In my own case, my initial methods of monetizing my site was affiliate marketing program, Google adsense and selling of advert spaces.

Although, I made (and still making) money through each of the channel, affiliate marketing has been more income generating channel for me.

7. Review Your Internet Business Strategies

No matter how it going for you, you need to constantly review your strategies and all processes. By doing so, you will be able to highlight what is going good for you and what is not.

Given that there are stiff competition out there, your review process should be top notch. Not only will this give you competitive advantage, but also set you up for success.

At this stage, you will need to look at the big picture; how you have done so far and strategize on getting to your goal on time.

8. Build Your Brand

Be an expert in what you do. This is what people will know you with. If you are good with your business, clients will look for you. In a word, establish an expert reputation for yourself.

First thing to remember, people use the internet for information. By providing that information for them, your site start gaining reputation.

With good reputation, here are the things that happen:

Your website start gaining some tractions.

Other start referring to your online portal.

You start geting more traffic to your site; with that, you send a brilliant signal to search engine.

All in all, you begin to get better ranking on search engine result pages (SERPs).

In interpreting this to you, having a reputable brand give you an enhanced credibility and loyalty with clients.

Internet Business Model: Your key to Success

As can be seen, the check list is not that much. It give you a basis to work on. I have literally covered the most important parts of why it is good to start internet business online.

Taking a step back to point 6 above, I will take you through internet business models that will make you money.

To make things easier, I have classified the types of online business model into the following:

  • Business-to-Consumer Model;
  • Business-to-Business Model; and
  • Consumer-to-Consumer Model.

Below, you will have the opportunity to get more details about each one of the business model; at the same time, I will give you examples sites using them. This will give you an head way into the direction you may want to take.

Business-to-Consumer Model (B2C)

Looking to participate in the business-to-consumer model, your aim will be to sell products or services to the end users.

Typically, you will have services or physical products of value to sell. In the same fashion, you may be promoting other business products and services.

This model is more common with affiliate marketer or a dropshipper.

Also, there are two different types to this model namely:

  • Merchant Model; and
  • Brokerage Model.

For example, Macys.com in the United State of America, TKmaxx.com in the United Kingdom operates the Merchant Model; while Ebay.com and Jumia.com in Nigeria operates the brokerage model.

Regardless of how difficult this may be, you too can start a similar business model.

Business-to-Business Model (B2B)

Similar to business-to-consumer model, your business-to-business model will target selling to other businesses; your main aim is to promote and sell to them.

In other words, they are sales you make to other businesses.

Here, your marketing strategy should focus more on business decision makers. As they are your market audience.

For example, you may sell office supplies and components to other companies.

In this case, you are an internet sell of affiliate products for the supplier.

As a matter of fact, this model works better for you as a dropshipper. In the light of this, you get products from the supplier at a cheaper rate; and sell to the buyer at a slightly higher price. This gives you you profit margin.

First thing to remember, your role here is to sell one business products and services to other business. That is to say, connect the supplier with the buying company.

For a better understanding, your business model will focus on selling to the following sectors:

  • Producers;
  • Resellers;
  • Governments; and
  • Institutions.

Consumer-to-Consumer Model (C2C)

Consumer-to-Consumer (C2C) business model is a volume game. With it, you sell your products and services to the end users.

In order to be successful with this model, you must be able to sell products and services you are promoting to a larger audience.

When I started out as an online business owner, I sell my products on Ebay and Amazon. That gave me a sort of leverage because these two companies have ready made buyers.

How did I do this?

I source for products from manufacturers at a cheaper rate; then sell on those platform at a profit margin.

One good thing about this model is that you can determine your own revenue at the end of the day.

Internet Business Success

No matter what you decide to venture into, the key to your online business boils down to three things:

  • Dedication: How passionate and dedicated are you to this venture? You should be 100% dedicated to taking this business forward; and make it a successful one.
  • Time: You should spend your time fine-tuning the business and pushing towards your goals;

and most importantly,

  • Marketing: Market to the right prospect. Spend to developing a winning marketing strategy to sell to the right audience.

To me, marketing is the lifeline of your business. It is the best part I love most. As a matter of fact, you are more likely to be successful with your online business when you incorporate good marketing strategy with it.

Depending on the geographical location you are targeting, you may take a look at the article I mentioned in point 5 above.

Although, there are other key determinants to your making money online business; nonetheless, you will have to play the most important role in it.

Conclusion

Take a look at many of the online business stories around, you will discover that they all starting with an idea. This idea was fine-tuned to what it is today.

Given you various reasons to start an internet business, you could see that it has many benefits. These benefits outweigh any form of negativity that may come your way.

Although, starting an online venture and waiting for it to start yielding profit may take some time; nevertheless, it require little to no monitory investment to start.

Therefore, I recommend to you to start an online money making site today.

Yokebay

Koye Beckley is an Entrepreneur, SEO specialist and a Trainer. He is the founder of Yokebay.com and has published numerous business related articles that has high ranking position on search engine result pages (SERP). He is passionate about helping business owner grow their online business through search engine optimization (SEO); at the same time, he lives to travel the world.
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