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Aug 29

Millionaire Wealth Coaching| Start an Online Business and Earn Money

Earn Money With An Online Business

Earn Money With An Online Business

Today’s Millionaire Wealth Coaching,  Start an Online Business and Earn Money comes as a result of an email question I got from one of my readers who wants to know how to start an online business and earn money when you have less than $100 to work with. First of all, let me say, not only is that is a smart question to ask it is easily doable for anyone who wants to earn money from home with an online business.

You may be surprised to learn that many successful online businesses have been started for less than a hundred dollars.   When I use the term “successful” I should add: solo-preneuer online business that consistently make five-figure monthly incomes.

Let’s Start With a Few Examples

Making Money Online Niche: One of my online business success heroes is Pat Flynn who operates a blog website called, Smart Passive Income.  Although Pat says on his site, “I’m not a millionaire” according to his publicized monthly income reports, his monthly income is consistently $50,000 or more.  Unless you completely blow your money on a worthless consumable lifestyle, anyone with a monthly income at that level can easily invest the excess of their income into money-making assets and become a millionaire within a few years which is why I prefer online business as a top money  maker for aspiring self-made millionaires.

Organizational Technology Niche: Brett Kelly translated a user guide for a popular software for note taking and archiving called Evernote into English and published it as a “Mom’s Guide to Evernote” and “Evernote for Dummies” (published and promoted by Dummies.com). Brett now earns more than $12,000 a month.

Diet /Weight-Loss Niche:  Nathalie Lussier has a website teaching people how to lose weight and get healthy by following a raw foods diet.  Her online business website earned more than $5,000 per month in her first full year of operation.

How to Start an Online Business and Earn Money

-1- Live Your Dream

The best thing about starting an online business from home is you get to work everyday at the very thing that brings you the greatest joy.  You get to turn your passion into profit. It’s like putting your happiness in a box with a beautiful bow and selling it.

Online business or any business for that matter rarely works for negative people. If you do not have a positive dream for success, do everyone a favor and postpone your online business venture until you are pumped and absolutely convinced that you can and will succeed in realizing your dream.

Research the area of your passion to find your niche then research the keywords in that niche to select your domain name. Check out established websites in the niche you are thinking about.  Read their pages and posts and take note of the tags and key words they use.

With a little thinking and creativity,many times you can rearrange key words to get a higher ranking in the search engines.

-2- Find Out What People Really Want and Need

Look for opportunities and gaps in the marketplace. Take advantage of popular sites and exploit opportunities from those sites to fill an unmet need.

Look for opportunities to simplify the complex like a better tutoring book to pass a certification or an entrance exam. Add pictures and screen shots to an existing manual, and translate the manual into other languages.

Look for inconsistencies and controversies. This is one way to determine your money-making niche. Now days people have a lot more selection of what they watch, what they listen to and what they read.

The more narrowly defined and the better you know your niche, the more money you can make with your online business. I know that goes against the grain of most who have been taught to be available  and be knowledgeable in everything because you never know when someone somewhere will knock on your door.  But success in marketing an online business is found in developing a micro-niche of people searching for specific solutions who are ready to purchase.

-3- Determine Your Profit ModelBusiness Profitability

Before you build an online business you need to think about how you will make money.  Check out my article…

 Millionaire Wealth Coaching| How to Build a Successful Online Business

for the top five online profit models. Before you build your website decide who you will serve, what they need and what you will offer to make money. Building your website is easier when the foundational thinking is in place.

-4- Build Your Website

Starting your online business costs less than $100.  You need a domain name (I recommend GoDaddy). You can register a domain name for less than $10 with my special offer.  Next you need a website host.  Some website hosts charge as little as $10 a month for share hosting. But, hosting can cost up to $125 per month per site depending upon the bandwidth of your site. If you have a lot of videos on your site you may need greater bandwidth; but even more important is assurance that your site does not experience any downtime. I have found a source for unlimited website hosting that I will share with you.

You do not have to start your online business as a legal entity, but if you do, you can register your entity as an LLC for a filing fee of $50.00 in many states.

I have written a number of articles about building your website including:

12 Website Features for Online Business Success

Building a Website or Building an Online Business, Part 1

What You Need to Make Money With an Online Business

The point I hope you see in those articles is:

  • Building a website is easy when you have knowledge and the right tools.

  • Building a website is essential to online business success.

I have examined a number of online sources for building a website.  Some sources that offer to “build a website for free” are really up-sellers for an endless stream of marketing up-sells. Brainhost and the Home Profit System are examples of worthless sites that are promoted by internet marketing scammers.

There are a number of legitimate membership sites that teach you to build your own website.  Along with a great educational platform, many provide on-going technology support in the form of free web-site hosting, unlimited site building, and as much help as you need from the membership site founders.

The best of the membership website universities from my research is Wealthy Affiliate.  I have been a member of two other well-known online website building communities and I can say with confidence, Wealthy Affiliate is my top pick.

Other online learning communities you may want to consider are Internet Business Mastery and Ken Envoy’s Site Build It. I started my first site with Site Build It but in the long run I have found Wealthy Affiliate to offer greater support from the owners while having a more active online community and being cheaper for those who want to build multiple online businesses.

Increase Sales-5- Make Your Offer Compelling

You could have the best product in your market place and fail if you fail to make your offer compelling to your target market. If your goal is to start on online business and earn money, you are in sales and customer service.  The purpose for your online business becomes creating and keeping customers.

You must learn how to make your offer compelling to get your customer to buy from you rather than someone else, get them to buy multiple times and then get them to bring their friends and family to buy from you.

The way to do that is to first build trust and then to make your offer compelling.  In other words, you must be skillful in how to build trust with your audience as well as how to identify and write about both the features and benefits of the products and services you are offering.

-6- Be Open to Change

The world is changing at a rapid pace and no where is that change more evident than in the world of technology. The internet ten years ago is far different than the internet today.

With the impact of the internet, business operation and marketing is far different today. As a result, your potential consumers are able to shop for solutions at lightening fast speed.  They can surf the internet anywhere from their laptops, their iPads and their Smart Phones.  Internet Marketing researchers estimate that more than 5 Billion people each day will soon use mobile devices to shop and make online purchases.

Facile online business entrepreneurs must be open to change and adapt to new internet protocols and environments. By being open to change, you can adapt more easily to changing trends in consumer buying habits.

How consumers prefer to buy today is far different than it was a decade or more ago. As a result, many shopping malls have multiple vacancies. The good news about that for anyone who wants to start an online business and earn money is that there is a huge opportunity to make money and be your own boss by starting an online business in the convenience of your own home.

Stay tuned for more ways to earn money form home from the 24 Hour Millionaire Wealth Coach.

I hope you have enjoyed this post.  Please feel free to comment and share with your friends and family.

Four Your Success.

Coach Rebecca

 

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2 comments

  1. Response To Intervention Software

    I like the way you describe all the business strategies and i appreciate your money earning ideas. Thanks…hope you next time again suggest better business starting tips.

    1. Coach Rebecca

      Thanks for you comment, Joe. I’m glad you enjoyed the article. I am writing a series of articles designed to help aspiring entrepreneurs with business start-up.

      With so many helpful online resources, there has never been a better time to launch an online business. This article is a foundational kind of article.

      Stay tuned….my next post will list some specific steps and resources to help. Feel free to reply to this comment or go to my contact page and send me an email with any specific questions you have about business start up. Have a great day!

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