International Finance

Need a second earning option? Internet-based business is there for you

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If you want your internet-based business to be on retail, you will need money to purchase the product inventory, before you sell them on portals like Amazon and eBay

As the world is about to step into 2024, the global economy is still fighting the demon called inflation. The resultant cost-of-living crisis has been too much to endure. Those with jobs are not getting enough salaries to keep up with the rising prices. They are mulling second-earning options now.

In today’s article, we will talk about one such ‘Second Earning Option’ in the form of internet-based businesses. One can make money from home by publishing blogs and sponsored posts, hosting third-party ads or selling products digitally.

All you need to set up your business is a laptop, webcam, and an internet connection. Creating and owning an ‘Internet Home Business’ is something which people tend to overlook as a career option, but is a lucrative one. You do not need to hire employees or have a fancy office, so the option is cost-effective too.

How To Do It?

Step one, build a sales funnel website and landing page for your venture. It will help you to understand what your potential customers are thinking and doing at each stage of their purchasing journeys. These insights will allow you to invest in the right marketing activities and channels and create the most relevant customer messaging during each stage.

You need to have the website as it will capture your customer information when the latter clicks on a company website/ad. These sales funnel websites are also used on social media ads to enter their information in return for incentives like customer coupons, discount codes or free eBooks.

The customer information will then get added to your company email list for future ‘Email Drip Campaigns’.

“The upside is that once you build a great sales funnel, it’s easy to duplicate for other clients. The key will be pitching it to business owners to purchase,” says an Entrepreneur article.

After setting up your business’ digital footprint through a sales funnel website, monetize your social media accounts through videos, as social media platforms pay creators for their content. Try to narrow down your video topic, and keep it precise and crisp, to make your audience comprehend the matter and engage with you.

Mulling Other Options

You can also have your podcast channel as well. After recording and publishing your podcast, edit it further to make Reels, Shorts and TikToks. This will help to increase your online footprint. The more you muscle up your digital presence, the more you will earn from the social media platforms. Also, try to interview popular people with a large fan base during your podcasts.

If you want your internet-based business to be on retail, you will need money to purchase the product inventory, before you sell them on portals like Amazon and eBay. The downside here is that the process of sourcing the products that you want to sell online will be both time and capital-consuming.

Talking about internet-based business ideas, what about merging hyperlocal journalism with Instagram? You can create a new Instagram channel and post local news from your town/city, apart from giving out details like the locations of the new restaurants or the events happening around your locality.

“Once you get enough subscribers, you can start charging local businesses to post on the page. You can monetize stories, reels and posts. The larger the subscriber base, the more you can charge,” Entrepreneur mentions further.

While content creation has been one of the fastest-growing professions in the social media age, not all creators have the time or the skill level required for editing videos. You can collaborate with them and earn money by editing their videos.

Last but not least, if you have a solid knowledge base on things like selling properties, onboarding new staff as a Human Resources (HR) Director, or making food items, you can start your online courses on the topics. People will purchase online courses if you capture their attention and produce multiple videos on the subject.

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