7 Awesome Online Business Strategies (Part 2)

This is 7 Awesome Online Business Strategies (Continues Part 1)

07. Selling on EBay

This business model is still quite popular, but much of the “get rich” hype has died down. Also, EBay is slowly changing from just a bidding website to an ecommerce website much like Amazon, so we may see some changes in the coming months/years to this platform.

Getting started with your own EBay store means you’ll need to find your own inventory, like the independent-cycle EBay store in the image below. Some successful EBay businesses spend time browsing yard sales, estate sales and even thrift stores to find treasures at low prices that will bid up and sell for higher prices online.  With this method, inventory items can range from wood carving tools to antique bedspreads and high-end clothing.

You can also buy from wholesalers or watch for really great retail sales (retail arbitrage) for items you know you can sell at higher prices online. Clearance racks or aisles in department stores or going-out-of-business sales can be good places to start. If you’re selling clothing, watch for end-of-season sales in large department stores, where many items can be marked down by huge percentages.

One thing to remember is that the heavier or larger the item is that you purchase to resell, the more you’ll have to pay for shipping.  Keep the shipping costs in mind when you’re setting up the auction item.

06. Drop Shipping

Drop shipping is a good online business model because it eliminates the need for the business owner to maintain, pack or ship inventory.

To get started, you need to create your own storefront and then find the companies you want to work with. You’ll sell their items in your store. When someone places an order, you forward that order to the provider company, who sends the product directly to the consumer who made the purchase.

In a drop shipping business, you’ll mostly be sourcing your products from wholesalers like Doba, Dropship Direct, or Sunrise Wholesale. Building these partnerships and getting set up might take an investment of time, but it could pay out in the end.

Shopify is a great way to build an ecommerce store for drop shipping.

05. Freelance Writing

There are all kinds of ways you can make money writing online. Many business owners simply don’t have the time to write good sales copy for their landing pages, so outsourcing these types of jobs makes sense to them.

There are a couple of good ways to get started.

If you’re comfortable with newsy writing, contact your local paper as well as online and print magazines. If you’ve never had a by-line before, offer your writing ideas and do one or two pieces for free. Once you’ve seen your name in print a time or two, you can contact other companies. Ask whether they have a need for freelance writers (most of the small ones do) and what their rates are. You can work your way up from getting paid nothing to making a decent living if you’re willing to put in the time and energy.

You can also browse websites online. If you come across some sites with great ideas but only mediocre content, offer your services to them. Build your portfolio and your own website and ask people that you’ve done pro-bono work for to promote your services to others who might need it. This will take some serious work though, because it's a lot like cold calling.

The best way to earn money writing is sign up to bid on writing projects through sites like UpWork, Fiverr and MediaBistro. This is like a hub where people who need content will go to hire content creators. The bidding process can be competitive, but once you establish a solid profile and job history, you can land very consistent, well-paid jobs writing on diverse topics. Plus, if you have an area of expertise that's in demand, you'll be able to get paid two or three times what a “general” writer asks for a similar size/scope of project.

04. Online Service Provider

Besides providing writing services, you can offer other freelance services such as website design, writing computer code for new software, videography, photography, illustrating children’s books, and transcribing notes from audio interviews. Social media marketing is another big one.

According to Forbes Magazine, freelancers now make up 35 percent of the workforce in the United States. Because freelancers fulfill outsourcing needs for other companies, their work is always in demand. There are a variety of sites you can sign up with to bid on work, such as HireMyMom and Freelancer.com. The Forbes Magazine article lists 79 possibilities. UpWork (my favorite) also works for this category, as with the VA option below.

03. Virtual Assistant

If you’re good at office work, you can save busy people time and money by offering your services to them as a virtual assistant.

Your work could include answering telephones, setting appointments, entering data and doing research for busy clients. You might also be involved in projects like handling mass e-mails or promoting products and services on social media platforms.

People who hire virtual assistants usually only need them for a few hours a week. Virtual assistants can make more money by hiring out with multiple clients. With enough skill level, you may be able to manage your own team of VA's, having them do the actual labor and you manage/check their work.

“Virtual Assistant” can apply to a lot of different types of online work, including something as simple as social media management. For a period of three months I paid someone $200/month to manage my Pinterest page!

02. Local SEO Expert

Helping local businesses create websites and get high rankings in search engines is a service that will always be in demand.

Many people who run businesses from home don’t have the time to create their own sites or to make sure their products and service are showing up at the top of searches. Outsourcing to a local expert makes sense to them, especially because as you increase their search rankings, you increase their website traffic and their possibility of making sales.

If you take the time to learn about SEO auditing, Google Analytics, and essential keywords, you’ll be able to provide valuable services to business owners who want to give their websites a serious boost.

This is a huge money maker for all people involved. For the client, one more customer could mean hundreds of dollars in revenue for their business. Multiple that by new clients coming in weekly or daily, and they will pay big bucks to get good search results. For the SEO expert and web designer (you), one client could be worth $500/month in services. Just a few client and you could be earning a full time income helping local businesses get search results!

01. Online Tech Support

If you’re good with troubleshooting internet problems or problems with apps, consider offering your services as an online tech support professional.

You can specialize in certain internet providers or even with other services such as cable television or WordPress support. If you’re really good at what you do, you might be able to partner directly with the companies whose products you troubleshoot.

You’ll need to get a dedicated telephone number and include it in your marketing so clients can reach you when their internet is down.