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Online Business

The obsession with the internet is growing stronger, and so is the spending online. Consumers are spending $1 in every $5 of their shopping budget online. As more shoppers shift to making their purchases on their smartphones from the comfort of their homes, brick and mortar stores are going out of business at an alarming rate.

This digital revolution is however not entirely bad for merchants. It presents an opportunity for entrepreneurs brave enough to venture into e-commerce. Although it may seem challenging to some business owners, there is a lot of money to be made online. Concerns about security or prohibitive costs are unwarranted. Whether you are looking to make some quick cash online or to develop a sustainable online business, you can do it in a cost-effective, easy and secure way.

1.   How to make money online

Turning a profit online boils down to the path you take. One may lead you to immediate results helping you address your basic expenditure such as rent and utilities, and another may lead you to long-term financial gains that have the potential to transform your life. Whichever path you take, discipline will be demanded of you. To make good money online, you will have to spend a lot of effort and time in the trenches.

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2.    Sell your stuff on own store

If you’re looking to become your own boss, operating your own shop is the way to go. You will need an e-commerce platform to set up your online storefront. Examples of popular e-commerce platforms include Shopify, Magento, and WooCommerce. They allow you to set up an online store on your domain. Using the platform, you can customize your own theme, upload your products, fulfill orders and track inventory.

The freedom of running your own online store, however, comes with a slew of responsibilities. You will have to design your website, comply with e-commerce standards, launch a marketing campaign, and optimize your conversions. You can use an online store builder to avoid the technical hassles of building your site or collaborate with a third-party payment gateway service to ease the burden of processing payments. However, you have to be prepared to do the work if you want to generate significant profit.

3.    Sell on existing websites

If creating and managing your own store is too much work for you, you could opt to sell your product and services on existing websites. Some of the most famous e-commerce marketplaces include Amazon and Fiverr. Amazon, which boasts sizeable web traffic, allows you to sell anything from music to books or any other product you upload or already listed. On Fiverr, you can sell just about any service online. You stand to generate a healthy income if you provide some serious value.  

4.    Leverage the app economy

If you want to generate extra income in addition to that which you get from your full-time employment, the app economy is perfect for you. By using well-known apps, you could easily make an income thanks to the ever-burgeoning global connectivity launched in part by our smartphones.

There is an app for almost anything today, and you can use them to earn a respectable income. Examples include driving for Uber, making deliveries for Postmates, taking surveys for Swagbucks, to mention but a few.

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4.    Start a blog

Blogging is among the most popular online income sources today. It is easy to set up and provides a sustainable income flow. As long as you set up your blog right and add regular and quality content targeting the right audience, you stand to make a tremendous amount of money from your blog.  From there you can start selling anything from online courses to advertising space.

5.    The bottom-line

There are many ways to make money online. Whichever way you choose, you have to invest your time and energy if you want to make sizeable returns. Put in the work and a year from now, you will be glad that you started today. 

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