Wednesday, January 30, 2019

Small business ideas from home: Earning opportunities online | London Business News - London Loves Business

The Internet has made a lot of things possible for everyone. It can be called as a great equalizer as it has leveled the field for business. Anyone who’s interested in starting a small business in the comfort of their home can do so, as long as they have a computer, an internet connection, and the correct strategy. Here’s a list of Journal Review ideas for home business setup you can start right now.

Drop shipping

Drop shipping isn’t as scary as it sounds. The Dropship method is a retailing technique wherein the seller doesn’t store the inventory but instead orders it from a manufacturer once a customer orders.

To start this business, you have to create a website. There’s a lot of online services that offer quick online store set-up, or you can list your item on eBay or Etsy. If a customer orders, you place their order with the supplier, and they handle packaging and shipping.

Here are some other benefits of drop shipping:

  • Low startup cost – Signing up on eBay and Etsy is free, or if you want to create a website, the cost is very minimal, and set-up can be done in a few hours.
  • Easy to manage – You don’t have to worry about the pains of handling an e-commerce business such as maintaining a warehouse, monitoring stock level, or shipping your orders. Your supplier does all of these.
  • Very low overhead – Overhead is the fixed expense of running a business which includes, office rent and warehousing fees. Since you don’t have any inventory on hand, and your office is right at home, your overhead is very little.
  • Diverse product lines – If your supplier offers a new product, you can quickly put it up on your website without worrying about additional expenses.

Drop shipping may look easy, but it’s actually difficult when you don’t know how to spot a good supplier. According to Journal Review finding a reputable supplier is critical to drop shipping success. You need to find someone that pays attention to you and your customer’s order and has quality products.

Social media management

Social media is growing, and it’s on the fast track. This craze started with people wanting to connect with their friends and family in a fun and convenient way. After a few years, marketing experts saw the potential in social media, and ever since then, it has become a vital part of any marketing strategy.

Businesses utilize their social media accounts by interacting with customers. However, some companies have trouble managing their social media accounts, and this is where social media managers come in.

As a social media manager, you’re responsible for the following:

  • Creating social media marketing strategies
  • Maintaining and setting up social media accounts
  • Content planning
  • Knowing trends and ensuring that your client’s business is on top of it
  • Community management
  • Customer Service

These are just some of the tasks that a client may require from you when you start this business. If you’re someone who already enjoys using social media, then you’ll have no problem starting in this business.

Ebook selling

If you’re someone who’s an expert in one subject, you can turn that expertise into money. If you’re someone who’s passionate about fiction writing, then you can write a novel and sell it. In this day and age, you don’t need a publisher to sell your books — you don’t even need bookstores anymore. Self-publishing is the next big thing, and even industry leaders are making money out of it.

More and more people are looking for information online, and if you can leverage that and turn that information into books, then you’ll surely have a successful ebook business.

Here are two ways that you can sell your ebook:

  1. Use an online service – You can use an online service provider like Amazon or iBooks to sell your work. This method is far easier to set-up; however, some platforms require 100% exclusivity which will mean you can’t market it anywhere else.
  2. Create your website – If you’re someone who’s known in your niche or would like to be someone who’s known. You can benefit significantly from creating your own website and selling it there. You can also offer other informational products like courses or 1-on-1 consultation.

Blogging/Vlogging

Some people have become successful in turning their hobby into a money-making machine. Blogging isn’t just all about writing. There is a strategy that also goes into it such as knowing what keywords to use so you can rank better in search engine results pages. The same thing with vlogging, you can’t just post any video and expect people to watch them. Vloggers tend to make videos about what’s trending and what people would like to watch.

Content creation is a lucrative business right now, especially when everyone is consuming hundreds of content every day. Another thing about content creation is that you get different revenue streams such as the following:

  • Ads – You can place ads on your website or show them on your videos while people watch. The more traffic you get into your content, the more money you make.
  • Affiliate marketing – You can do product reviews and post a link of the product on your website. If people click on it, they’ll be redirected to the online shop, and when they purchase, you get a commission.
  • Sponsorships – If you get big enough, brands will start to notice you and provide you sponsorships. The sponsorship could be in the form of products or monetary compensation. In return, you will have to do something for them, like doing a product review.

Blogging and vlogging are easy to start, but it can take a while before you can really make money out of it. So be sure to grow your readership, make yourself known, and create valuable content. If you do this, the rest will just fall into place.

Conclusion

This is just a few of the businesses you can start at home, there are a lot more but the key is knowing what products or services you can sell and get behind. Find a niche that you can focus on and work on that, as you grow your home business you can start diversifying and creating more income streams.



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