Have you ever dreamed of something more than the 9 to 5 life? If so, then there’s a good news. There are now many opportunities, thanks to the Internet. It is realistic to live a dream lifestyle by starting a digital business. There are many benefits to digital lifestyle from being able to work at home, working your business while you’re travelling, to working on your own schedule and have lots of free time for your loved ones.
And don’t worry about having to quit your job. You have the option to work part-time or full-time depending on how much time you have. The only thing this dream lifestyle requires is a laptop and a reliable Internet connection. Thus You can have full geographical freedom. But just how can you go about creating your very own digital business? The first step is understanding the various business models that are out there and understanding how they work.
Let’s take a closer look into the different business models you can build your digital business around:
Being a Freelancer:
There is a strong demand for a wide variety of services from web design, Graphics Creation, UX(User experience) design, Email marketing, SEO(Search engine optimization), Content creation, Mobile app development, Copy writing to Programming just to name a few things. You can choose to learn a skill and market your services as a freelancer. It starts with figuring out what you can be interested in and passionate about. From there, you can start getting some experience by taking classes and offering your services for free to build your portfolio.
There are numerous job boards, classified sites and forums you can use to land clients. There are also many freelancing sites that you can use to get in front of potential clients and build your credibility. The list includes Fiverr, Upwork, PeoplePerHour, Freelancer.com and many more. If you do a good job with clients, you’ll build a positive review. This will lead to clients coming to you or choosing you over others because of your expertise, reputation and credibility. And depending on the service, many clients will come back to you repeatedly for more work.
From different freelancing website mentioned above, Fiverr is the one which has paid highest wages per hour rate to their freelancers as per a survey conducted in 2018.
Affiliate marketing is a business model where you market the products and services of other businesses in return for a flat or percentage based commission. The benefit of this business is that you solely focus on the marketing. The company you’re working with will handle everything from payment processing, product fulfillment, customer service, inventory and managing all the other aspects of the business.
There are a huge number of products and services you can market as an affiliate. One of the most common examples of affiliate marketing is the Amazon Associate Program. Affiliates often include links of products being sold on Amazon onto their blog/post/website/articles and get a commission when the person on their site clicks on it and makes a purchase. There are many other marketplaces from eBay, Amazon, Flipkart, Alibaba, Jabong, Myntra, Shareasale, Clickbank, SFM, Aweber, DBL, to Rakuten. You can also join what’s called a CPA(Cost per acquisition) network where you are paid for producing things like email subscriptions, trial offers and downloads. Out of marketplaces/websites mentioned above SFM, Aweber and DBL provides affiliate marketing service for information products and generally pay a very high percentage in commission varying from 20-30 %.
To succeed as an affiliate marketer, you will need to educate yourself on digital marketing. You’ll have to figure out how to get target traffic to your affiliate blog/post/website/articles. There are many strategies you can use from paid advertising, social media marketing, blogging, SEO (Search engine optimization) to content marketing. It’s usually best if you focus on a single strategy and master it.
Selling Your Own Products:
Do you have some great ideas for what you can sell online? If so, you may be interested in selling your own products online. This can be anything from an information product, physical product, software to a private content driven membership site. Unlike affiliate marketing, this is a digital business model where you’re responsible for things like payment processing, product fulfillment, and customer service.
Luckily, there are many tools and services that help you in running a digital lifestyle business. These tools can do almost everything for you like automating most of your customer support issues, automatically processing payments, following up with your customers, and shipping the orders. Affiliate marketing is often seen as the dream lifestyle business because of fewer responsibilities, as you don’t require your own products and the product company takes all other responsibilities with them and as affiliate marketer you just need to do marketing of their products and generate leads, nothing else.
For many, the challenge with this digital business is coming up with great ideas. If you have a knack for creating great content you can create an information product or a content based membership site. If you want to sell a physical product, you don’t need to be an inventor. There are many private label products that you can sell on your own website, Amazon and other third party sites.
Another very popular method is ecommerce dropshipping. It involves selling physical products online on your own online store. There has been a boom over the last few years in ecommerce. More consumers are going online to do their shopping, and the trend is continuing to grow each coming year. As a result of this trend, many people have built successful ecommerce businesses selling everyday products.
A long time ago, you would’ve had to buy products in bulk which was risky since you didn’t know if a product would sell. But now there are many dropshipping services where you only pay when your customers purchase a product on your store. These dropshipping services have an incredibly large selection of products you can sell on your website. They also take care of the shipping and handling for you.
Many people build online stores using services and plug-ins like Shopify, BigCommerce and WooCommerce. These solutions make it easy even for inexperienced people to build their own online stores. The only thing you really need to focus on (like affiliate marketing) is marketing your online store.
Do you have a knack for writing? If so, blogging may be the dream lifestyle for you.
There are many examples of people who are making a full time income blogging part-time. The reason why blogging would be a dream lifestyle for many people is that you can build a blog around something you’re passionate about. There are many topics that can be lucrative like cooking, home decor, strength training, body building and healthy living.
But just how do people make money by blogging? They monetize their blogs with programs like Google Adsense, where they get paid every time a visitor clicks on a Google ad. They list their affiliate links and earn commissions when their readers make a purchase. They attract advertisers that pay them to run an ad on their site. They sell their products and services on their blog. This is a digital business model where you can integrate a little bit of everything to make money online.
As you can see, there are many different digital business models that one can pursue. You can achieve your dream lifestyle by deciding to step outside the norm. For many people, affiliate marketing will be the ideal business model. The reason why is because it’s so easy to get started with affiliate marketing. All you need is to sign up with an affiliate or CPA network, build a simple website, and start marketing.
That doesn’t mean that being an affiliate marketer is the dream lifestyle. You should go with the business model that you feel is best suited for you. Understand that each digital business comes with its own challenges. You’ll also need to educate yourself and work hard to make it really happen.