Getting Started: An Introduction to Online Business
Though
there are many definitions for online business, here's the
one
that I deem most apt for our discussion here:
Online business is one that is operated via
the internet and that
brings income via the internet as well (my
definition).
In
online business, your website or blog is your showroom/store
where
you display your wares and skills and convince prospects
that
you offer quality.
There are two types of online business: active and passive
An active online business is one
that requires you to render
specific
services or requires your active participation in some other
way.
Most of the time, the profit you'll make from an active business
is
proportionate with your activity. For instance, I’m a freelance writer. So, my
monthly income is based on how many writing assignments I complete within a
month. If I decide not to write, then I won’t make money. Your online business
would be an active one if you render services such as ghost-writing, graphics
design, SEO, programming, virtual assistance, data entry, etc.
A passive online business is one
that brings income continuously
even
when you're not actively involved. But does that mean you're not required to do
anything? No. In fact, for you to make money through passive means, you must
have invested lots of time, effort, and even money right from the beginning.
Only after you've built your business perfectly can you sit back and enjoy the
fruits of your labour. So, passive online businesses also require hard work
(even more than active businesses).
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When
a passive business starts to generate profits, there's no limit
to
the income you can make from it. And you can continue to make
money
even when you're sleeping (that why it's called "passive").
Examples
of passive online businesses include affiliate marketing
and
information marketing (you’ll know more about these later).
The bottom line is that both active and passive online
businesses require hard work.
So,
if a self-proclaimed "genius" somewhere is promising to teach
you
how to make thousands of dollars overnight or at the click of a
button,
quickly raise your bullshit detectors and look elsewhere.
PS. Sports betting, investing in HYIP schemes,
and being paid to read
emails
or completing surveys are ways by which people make
money
online. But they’re not real online businesses. A real business
is
what you own, run, and have control over the income it brings. So,
I
only teach real businesses that have permanent profit potentials.
With
the above in mind, let's look at the tools you'll need to start an
online
business.
No,
you don't need to be a programmer or a graduate in marketing
or
writing. And you don't need a huge amount of cash to get started,
either.
Here is a short list of all that you need:
· A computer (laptop, desktop, etc.)
· A reliable internet connection
· Basic computer skills (browsing the internet, typing,
performing
simple computer operations such as uploading
images,
etc.)
· Minimal writing skills. I stress the word
"minimal." All you
need
is a basic ability to express yourself clearly.
· $10 per year to register your domain name. Plus hosting
fees
(this
varies depending on your chosen host) if you're not going
for
a free hosting platform.
· Most importantly, a strong determination to learn and take
action,
and the zeal to succeed.
Having
understood all that has been stated, it’s very important that
you
know the hard sides of online business, as this will help prepare
your
mind for the challenges ahead. You’ll learn these in the next.
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