Want to learn how to make money online? Here are 5 tips that are sure to help.
Times are tough. Lay-offs and lost income have driven millions of Americans to set up side gigs to earn money and pay the bills, with many turning to the internet to get started.
You probably know that by simply searching on Google, you’ll find countless pages promising to reveal new ways to make money online. There are always ‘get-rich-quick’ solutions that pop up, but do they actually work?
The truth is, the internet does provide lots of opportunity to earn extra cash in realistic ways. But rather than wasting time on fast money-making scams, building a sustainable business is the way to go, whatever skill set or experience you have.
You may be wondering if now is the best time to start a business when the job market is less than ideal. Earning extra money can be a smart move when job security is an issue. And launching a business is never hassle-free anyway, so why not start now?
In this article, we’ll let you in on 5 top tips that will help you make your first $1,000 online the right way.
How to make your first $1,000 online
- Use your own life to decide what product or service you’re going to offer
- Aim for monthly recurring revenue
- Take advantage of the multitude of online platforms already available
- Adopt the soft-sell approach
- Keep your business consistent
Tip #1: Use your own life as inspiration for your product or service
What day-to-day problems do you face? Your answer to this could be a great starting point to help you determine what product or service your business will offer because, what if you’re not the only one who faces this issue? All you need to do is create a great solution to the problem and use that as your product or service.
It sounds simple, but your real-life problems are the best asset you have to determining real-life issues. Think about it this way; if the problem you choose doesn’t actually exist or the solution you propose doesn’t solve the problem, your product will be worthless to customers.
Tip #2: Set your Sights on Monthly Recurring Revenue
Now this may seem obvious, but while you’re determining your product or service, keep in mind that you’ll want to be able to sell your offering at a consistent value every single month. By doing something that has a recurring revenue model, you will be able to save more time and that will lead to more revenue.
Once you have your business model laid out, with your product or service that solves a real problem, you can get to work to build that monthly income.
There are many different online platforms for marketing and selling your business, such as WordPress and WooCommerce. Building your website or store will take some time, and that’s okay. Don’t forget to consider how you will take payment for your product or service. You may need to connect your website to a platform that allows you to take payments easily, such as Stripe.
Tip #3: Take advantage of the multitude of online platforms already available
There are so many options to choose from when it comes to website set-up and online selling tools. Whether you choose Shopify, WordPress or WooCommerce (or one of the many other options available), setting up your business online doesn’t have to be difficult. Take advantage of the free and paid-for platforms that are available to use now.
Many platforms provide guides on not only how to use them, but on how to get the most out of them, so you don’t need to be an expert coder or programmer. There are even videos that provide tips and tutorials on how to create a store.
Tip #4: Adopt the Soft-Sell Approach
You don’t want to put pressure on potential clients to buy from you. This often leads them to turning away from your business and never coming back.
Instead, focus on the relationship-building aspect of sales. Find passive ways to show potential customers how you can solve their problem, such as through a blog, on social media, or providing a free resource. Wait for people to contact you because these are the people who are interested in what you’re selling, and so they’re worth spending time on to (hopefully) convert them into a paying customer.
Want to read more about free offers your business could provide? You may be interested in this blog post ‘Everything you need to know to boost your business online’.
If your product or service requires a bigger financial investment on the client’s side, they will likely take more time and effort to convert. Make sure you give them time to consider your solution without pressuring them.
Offering a free scheduled call can be an effective way to secure this kind of client. If they show up for the call, you can be sure that they are interested in what you have to offer, so make sure you have your best pitch prepared.
Tip #5: Keep your Business Consistent
Once you hit your first thousand dollars, keep moving forward. Keep on learning more about your area of business, and build and develop onto what you’ve already created. Educate yourself on more ways to market your business, and build your brand identity to take it to the next level.
By this time, you may have a good range of clients who will return to buy your product or service again, becoming repeat customers. Take full advantage of this by nurturing those client relationships.
Regularly re-visit your strategy and ensure it’s up to date with your new knowledge or new online platforms that may be useful to your business.
The internet is home to endless business opportunities, tools, platforms, and top tips. If you want to make money online, consider starting a business. Find a great solution to an everyday problem and use that as your product or service.
Use the 5 top tips in this article to set your business up for success. Take advantage of the online business boom that the Covid-19 pandemic has created. Take this opportunity and turn your life around by reaching out to more potential customers.
More people are choosing to shop online due to physical stores being greatly affected by the pandemic. Now is the perfect time to transition to online business.