Having a successful business requires more than just opening up your shop and waiting for customers to come to you. If you want your venture to be successful, you need to take your business to customers. No, we are not talking about door-to-door selling. What we are talking about is investing in the future – an investment that can yield fruitful results and generate income for you. This is why we would like to tell you how to make money online.
An estimate by Statista showed that there will be nearly 2 billion online buyers in the world by the end of 2020. Moreover, the bulk of the growth in global retail e-commerce between 2018 and 2022 is anticipated to take place in India. This proves that the trend in India is shifting towards online retail stores.
As the popular saying goes, “Strike while the iron is hot.” The demand for online products is not going to stop surging. If you are looking to earn on the side via your current business, then this is the time to act and take your business online.
Confused about how to do so? Don’t worry! We’ll take you through.
5 simple steps that will help you determine the viability of carrying out your business online.
Conduct preliminary market research
You may think that running an online business is similar to running an in-store business. But the truth is far from this. Online business is a completely different ball game, and it comes with its own sets of trends and aspects. For instance, a product which might be popular in your physical store might not be popular in your online store. This is what makes preliminary market research important.
This market research involves finding answers to questions such as: What are the current trends in your industry? Who are your competitors? What tools and strategies they are using? The answers to such questions would give you an idea about the size of your industry. More importantly, it would tell you whether there is any demand for your products online. If the demand is fairly high, it would be viable to take your business online.
Carry out a self-assessment of your abilities
So, you conducted your market research and found there is a high demand for your products online. Now, you need to ask yourself, whether you are capable of meeting a surge in demand or not. You need to keep in mind that you would have two stores to handle at the same time. This would mean managing more inventory, providing customer support to more customers, performing quality checks for more products, and so on.
Some can handle the stress and some cannot. This is something you need to be honest about while performing a self-assessment. If you feel overburdened, neither of your stores will yield profit. If you think you can’t handle your online store, one option is to outsource all its activities to a professional. It could cost you a fortune, but if the demand for your product is there, you can easily bear it.
Hence, carrying out a self-assessment is important to decide the viability of the online form of your business.
Identify shipping alternatives
Swift and efficient doorstep delivery alone is responsible for making giant e-commerce platforms such as Amazon, renowned around the world. This makes shipping the core aspect of retail e-commerce. But choosing a shipping carrier is not as easy as it sounds. You’ll need to make certain decisions on your side first.
These decisions include whether to provide free shipping or not. If not, then you need to determine whether you’ll apply real-time rates of the carriers to your products. All these decisions would help you in determining the viability of carrying out shipments. If it turns out to be a venture that’ll keep incurring more losses than revenue, you might want to rethink your decision of going online.
While you can opt for both international and domestic shipping, our advice is to start small at first, and then scale up later. A few good examples of efficient shipping carriers include FedEx, Dash101 and DTDC.
Carry out online surveys
You assessed the market, shipping alternatives and your abilities. Now, it’s time to find out what your customers expect from you. The best way to do this is by conducting online surveys. As complicated as it may sound, you can conduct online surveys free of cost via Google Forms.
Surveys would reveal the expectations of your customers, and you can use this to your strength. Moreover, it would also disclose whether your business would do well on an online platform.
Test the unchartered waters
After conducting market research, self-assessment, finding shipping alternatives and carrying out online surveys, now it’s time to test the unchartered waters. Before going live, you need to ensure that your business model would do well online. Hence, the final step for knowing the viability of your business includes running a beta test.
Now, a beta test doesn’t always have to be an expensive process. All you have to do is sign-up a few trusted friends and family and ask them to view your website. You can even ask them to place a few dummy orders, just to see how the mechanism works. Once done, ask them for feedback. What parts of the website can be improved? Was it easy to place orders?
If the majority of the feedback is positive, go ahead with the official launch. However, if it is not, it is better to push the launch to make a few tweaks.
Abiding by these steps would ensure that the online version of your business would be successful.
If you are looking for side income ideas in India, we may have just the right thing for you. It is a platform through which you can earn money online, anytime and anywhere. It asks for zero investment, and you can earn tens of thousands in a month from it. Curious? Keep reading!
Shop101: Get monthly side income without any investment!
Shop101 is an online reselling platform that brings merchants and customers to the same level. It is completely free to use and requires zero investment.
This is how it all works.
Once you install and register yourself on the Shop101 app, they create an online store for you. Through this online store, you can interact with your customers. After the store is created, you need to create your product list from the existing catalogue of Shop101
Now, all you have to do is send the links of these products to your circle via WhatsApp or Facebook. Whenever someone buys a product through your links, you would make money on that sale.
Being amongst the best side income ideas in India, Shop101 has made thousands of people financially independent. Earlier, we had mentioned 5 steps for setting your online business. Guess what? With Shop101, you don’t have to carry out these steps. In fact, Shop101 will manage everything for you, from logistics to delivery.
Once you figure the above, your next step is to prepare for the launch of your company/product into the market. This is the stage where you will need to get your online processes in order. Whether it means designing a website or setting up your social media handles, they all need your attention to create a brand presence. Let us help you with how you can do this.
Ever since humans have been staying indoors, they have come up with new ways to spend time. One of the most effective ways happens to be exploring the scope of online jobs. With a smartphone in hand, good network connectivity, and an increased interest to earn money online without investment, people are truly making this lockdown count. It can begin with a simple idea that can turn into a successful platform like Shop101 that allows one to sell products online without any investment.
This is also a great opportunity for college students keen on becoming an entrepreneur. They are using this time to learn how they can earn money online easily. So, if you want to create a successful brand online, here’s everything that is required to build a brand from the ground up, with the use of simple things like SEO and without any huge monetary investment. These ideas are so effective that your brand is sure to become successful and easily become a long-term opportunity for you.
Know what you need
This is the first and most important aspect to think about when planning to begin with an online job.
However, the twist is that you as an entrepreneur at first need to know what you are going to sell online. If you wish to resell on a platform like Shop101, learn about your customers and choose products accordingly.
This does not mean that your brand has to only sell the material, but it can also be a service that can be rendered online. It needs to be chosen wisely. It can be the job of a translator for someone who knows several languages and brings together a community or simply the service of providing quality content to the digitally driven world.
So, work upon what it is that your brand can offer and make a business out of it. Once that is clear, there is nothing that can stop your brand from getting the right popularity and funds.
Create a Portfolio or Catalog
Now that you have your idea in place, it is time to gather resources. No, you don’t need any money, for this is a guide on how to make money online for free. However, you will require other things to help you on this journey. If you are going to start freelancing, you will need a sample body of work or a portfolio to show potential clients what you can offer.
An easy way to create a portfolio would be to gather your writing, sketches or photographs into a digital
document that you can then share with people who may show interest in your work. Otherwise, you could set up a website or a social media page that you can link clients to. When it comes to a business, you could do the same as above, by creating a business-offerings document, a webpage or social media page. Alternatively, you can create a catalog of products you wish to sell, along with the prices. If you venture into reselling, then the product catalog will usually be provided to you, as in the case of Shop101. All you have to do is update the price list with numbers that include your margin.
Embrace the power of a smartphone
Well, a large portion of the human world now owns a smartphone. Without realising the power it holds even to kick start a business where you can easily sell online. With social media at its throttle and plenty of spare time at hand, a smartphone can be a handy tool to work online.
The reason? It holds all your social media accounts which are today’s necessity to promote business. With the ease to share and update content with a few clicks and even create ads and promotions for an extended reach, it has been proven helpful in making an online business a success. Online reselling platforms like Shop101 let you share your product links on your social media handles in a click!
The popular platforms support the creation of an account without any charges. It also makes use of inbuilt features to not only establish a brand but also make it an efficacious one. So, begin using your smartphone, maximise its potential, and earn money online without investment.
Begin with a blog
A blog is not only a website that contains some relevant information on your product or brand but is a tool totally at the owner’s disposal. Now that the digital world is driven by SEO (search engine optimisation), the power to attract customers with quality content lies solely with the ones who own that brand and the related blog.
One of the best examples for this approach can be seen with Shop 101. Resellers can easily share product links on their social media handles and their blogs, easily promoting them and getting more sales. This allows them to make the best of their time and earn a good income as well.
So, begin with collecting information that makes the brand’s blog rank high in search engine results and bring business with it. However, while going through the dos to make it a successful one also take care of the don’ts.
This is important because there are millions of blog posts raised all over the world every day, but not all of them are praised. So, combining the ability of the young and bright minds with the idea to sell online successfully, the incoming can be really good that it can even become a full-time business.
Therefore, invest some time in bringing the best of the brand’s services, start to sell online, and provide it with a large audience to let it bring some business.
Value the power of SEO
Now that it has already been brought into the picture, why not dive into figuring out what makes it so valuable to today’s competitive world?
Search engine optimisation works on the keywords infused in a search and the blog’s content to bring the best of results. This means not only do entrepreneurs and businessmen need to put valuable content at people’s disposal but also help them find it and eventually find your brand.
This is applicable to the blog as well as the brand because there are many across borders that are capable of selling exactly like your service. So, efforts need to be made in the direction to make your business stand out.
While scrutinising the web for tips and tricks to make the brand and blog successful, a keen set of eyes may also find that many bloggers and businesses are popular just by selling what they know of SEO or by suggesting ways to fruitfully implement it and they are making money over the traffic.
So, now that all about SEO is at your hands and you are implementing everything just fine, the right funding to take your brand to new heights is going to come easy with no investment at all.
Interesting right? So, go ahead to learn all about it and make the best through it.
Find the right audience
Just like a group of similar people stay tuned and together, a similar force works even with the digital world. Now that there are pages, services, and brands selling almost everything, it has made it possible to earn money online without investment.
The reason is not that they have a huge number of likes, followers, and a great reach, but the time invested in getting the attention of the right ones meaning targeting the right audience. This can be better understood by evaluating that for someone who likes to read and know about travelling to unseen places might be least interested to know about the flavours of food.
Narrow down the kinds of people you need to build your product for and engage with them as much as you want. Sounds tricky? But sit back with your phone and begin communicating with comments, likes, and messages to learn how much people love to talk about things that interest them. And eventually, they become your loyal customer.
There has been no case in the history of digitalisation that a brand has become known and reaped benefits simply overnight. From the creation of content and services and to the rightful promotion to target a potential customer, all have taken a great deal of correct implementation, patience, and study of how and what people actually react to.
So, begin today, stay consistent and you can easily start to earn money online without investment. Indeed, it is going to take time and test your patience, but once you’ve invested these in the right amount for your upcoming brand, the funds and fame are soon going to be yours.
With an endless list of options such as freelancing, online branding, affiliate marketing, promotion handling, all of them are capable of reaping good returns without any currency investment but consistency.
Once you have the process in place, you need to raise awareness about your brand. Yes, when you’re launching into the market you will need to consider a few things. Apart from managing your budget and plan for the year, you need to understand the best practices of branding. Let us delve further into this so you get a sense of how it help with conversions and can help you make money online.
Branding Strategies- A step closer to becoming an entrepreneur
What is branding?
Branding can be defined as the marketing practice in which a meaning is given to an organization. It is reflected in the way each employee of the company behaves in public. It also defines how to deal with its customers and the valuable principles of the organization. A strong brand can always be distinguished in the crowd, which results in gaining more sales, increasing awareness, and bettering consumer experiences.
But branding exercises are not limited to corporate organizations. Each one of us has his/her life-story to talk about, skills to put to use, goals to achieve, and knowledge to share. In present times, our world is set to become a global village. In this setup, the value of a personal brand is very high.
The meaning of ‘Personal Branding’
Personal Brand is comparable to any other type of branding. It is about who you as an individual are, what views you project, the principles you adopt and the manner those values are expressed in. It helps to show the uniqueness in you and establishes your identity in the eyes of your clientele.
In other words, it is one’s story.
Personal Brand is a hot topic. But a lot of students do not understand what the term means. Most of the college students can’t market themselves properly. If you are in university, then your classmates, fellow interns, TAs and professors talk about you. Your branding is what you do to influence and curate their views on you.
The importance of personal branding
Personal branding provides countless benefits to a student’s career and life. It helps you manage your own self without depending on others. Personal branding is one of the most important parts of your career.
·The brand that you carry gives the indication of the best that you can offer
· Helps you put forward your values, strengths, passions and character.
· It establishes your unique identity and helps you differentiate yourself from the crowd.
·When students start off as entrepreneurs on Shop101, personal branding helps them gather attention towards themselves and their products. This helps in bringing a level of economic independence.
How to build a brand endorsing personal identity?
Starting to work on a personal brand may feel like a taxing process. However, with the help of Shop101, there are a few incremental steps that you can work on. So, establish yourself as a credible individual.
Figure out what makes you unique
Shop101 provides you with a platform to start your online store that you can use to resell products to customers. This store is a reflection of your personal brand. You pick and choose which products you want to resell. This gives you complete access to customize your shop so as to suit your own brand.
Once you are aware of all the products that you wish to work with, you can work on deciding how to brand them. This can be done based on your unique identity.
Your brand is much more than your current position; It also helps to define your future aspirations. Shop101 helps in achieving steep growth in your income by maximising profits and saving costs.
Use networking to connect
As you try to establish your brand, it is important to create a network to ensure the growth of your professional circle. Connect with peers, industry leaders, potential customers by going to formal and informal networking events.
These connections and the content ensure recognition that your brand gets. In a market where there are millions of brands selling the same product, this recognition will help you make more sales, as people would trust the brand that they recognize. You can share the product links listed on Shop101 on WhatsApp, Facebook, Instagram and other social networking sites to engage with more people.
One of the most important aspects of selling with Shop101 is making sure that your online presence is engaging the target customer base. With so many different social media tools available today, it is very easy to reach the potential customers irrespective of the distance and sell your products and eventually, make money from home. WhatsApp, Facebook and so many other social channels make it easier to connect to more people every day.
The use of social media tools, personal websites, portfolios, etc. helps provide essential information about who you are, what kind of products or services you deal in and helps to highlight your work visually. There are numerous free website-building platforms which help student entrepreneurs to earn money online without investment. All of this will enhance the growth of your brand tremendously.
Entrepreneurship benefits students from all socio-economic backgrounds. Every day, more students are on the lookout for ways to earn money online without investment. Entrepreneurship is the answer to this problem. It helps the students achieve economic independence. Shop101 lets students create a personalized online storefront from which they can sell products from different manufacturers and earn on the margins. This helps the students establish their brand and start off as entrepreneurs with ease. Building and sustaining a brand is made easier with the growth of online platforms like Shop101.
We hope you found this article informative. If there are any more questions for us, do drop in a message in the comments section below. Before you go, don’t forget to check out the video below. It will gives you a step by step approach to making money online.
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