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Date: January 10, 2017

6 Types Of Businesses You Can Start With Almost No Money

If you’re anything like millions people all over the world. You dream of starting up your own business. However, most of us don’t even end up attempting to start our own business due to variety of reasons.

The biggest factor stopping most people is the assumption that they need a huge chunk of cash to get started. However, you no longer need thousands of dollars to get started in business. There are tons of online business ideas that don’t cost much to get started and have the ability to quickly grow into something highly profitable.

Here are six different businesses you can start with next to no money:

In-home services

These businesses don’t cost anything to start because you’re providing a service, primarily you’re providing your time and getting compensated for that. You could start a dog-walking or pet-sitting service, or even something like landscaping. This is a type of business that you can easily start from the comfort of your own home.

Consulting

You don’t need to have an MBA or have an IQ the 165 to become a consultant. There are thousands of people starting online consulting businesses all over the world right now. A consultant is simply someone who takes a customer from their current situation to their desired situation. People are willing to pay good money for expertise and speed. If you aren’t already an expert at something, you’d be surprised how quickly you can up-skill yourself and become an expert in a niche of your choosing.

Product Reselling

The idea behind product resale is really simple. You acquire products and sell them on to other people. This is called drop-shipping. Drop-shipping is a fantastic way to start an online business as you don’t need to hold stock of any products yourself. When someone orders something, it is directly shipped from the manufacturer. This type of business requires almost zero startup investment and with the right level of skill and determination, you can build a highly profitable drop-shipping business.

Your Own Creations 

If you’re into your arts and crafts, this could be the perfect opportunity for you to share your skills with the world. If you like to create anything from bracelets to pendants and paintings you can sell your creations on sites like Etsy. There are many success stories on Etsy of people building wonderful businesses around their passion which is great to see.

Hopefully you’ve now got a brief idea of the opportunities that are available to you when it comes to business. You can start a business for almost nothing, you just need to find something that suits you and go for it.

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How To Make Make Money Selling Information Products

Whether you sell training courses on internet business opportunities or ebook’s for cooking, there is a lot one can learn by observing what’s working for other information product businesses outside your niche.

In this blog post i’ll be exploring some of the strategies that enabled one guy to earn over $10 million in one year from Clickbank affiliates to how a company called Mindvalley are making over $40 million a year selling information products in the personal development niche.

Leverage Marketing automation

Implementing marketing automation in your business will enable you to optimise your sales funnel and improve your contact with customers.

While doing my research for this blog post, I checked out 12 info product businesses that were generating close enough to $1 million in annual revenue.

This is what they all had in common:

They were all either using Ontraport or Infusionsoft marketing automation software.

So why on earth is marketing automation so valuable for these companies?

The bottom line is that it comes down to the ability to create user experiences based on the actions they take on a website. We’re now able to setup specific email campaigns that target people that take certain actions on our websites.

This is a whole new level of personalised targeting and an interesting way to connect with your audience.

To give you an example – lets say you run a website that provides online business training. Someone signs up for your free video series. Using marketing automation software, you can tailor your message automatically based on what they do with the content you provide them.

If they click through on an email that you sent them previously but they didn’t buy anything, you could send them a discount or an email asking them what went wrong.

This type of email automation is very powerful and can have a massive impact on sales volume and customer retention.

How Setting Up An Affiliate Program On Clickbank Made TruthAboutAbs $11 Million Dollars In One Year

Back in 2011, a guy called Mike Geary was interviewed by Tim Ferriss on how he manages to generate $11 million per year from selling information products in the health and fitness industry.

One of the most interesting parts of the interview was when Mike spoke about how his company leveraged the power of affiliate marketing. Mike described that a big turning point in his business was adding an affiliate program for his website on Clickbank and offering 75% commissions for affiliates. This is the maximum that any publisher can offer on the Clickbank affiliate network.

Mike Geary was one of the first to offer a commission percentage that was so generous. Hundreds of affiliates picked this up and started driving traffic to his website, resulting in millions of dollars being generated for his company.

Problogger Shayne Tilley’s Lessons Learnt From Making $30 Million Dollars

A few years ago, Shayne Tilley wrote a highly detailed post on his lessons learnt from generating $30 million dollars in sales by selling information products.

One of his main points of consideration was comparing evergreen products against timely products.

If you’re thinking in terms of longevity then the evergreen route is definitely the best way to go. When you look at how successful companies like Mindvalley are, generating in excess of $40 million dollars a year from products that aren’t even tangible, it is completely mind-blowing.

It also teaches you that evergreen content is the way to go. This content won’t ever stop selling and will consistently generate an income for your business for years and years to come.

 

Create More Content

We took a look at six popular blogs, including Mashable, KISSmetrics and ProBlogger, observing how they reached millions of visitors. We discovered that they all scaled the level of content they were producing.

For example, KISSmetrics discovered that for every additional article they produced, their traffic increased by 18.6%

More targeted traffic = more sales in your business. It really is as simple as that.

By creating a large amount of timeless, valuable content, you’ll eventually hit the stage where your traffic, leads and sales will grow in a massive way. All this, without having to increase your advertising …

5 Steps To Success With Affiliate Marketing

The market for affiliates has changed significantly over the past few years. Google cracking down on crappy affiliate content as well as increased competition on the internet means that affiliates need to rethink the way they market products online.

Despite all the changes that have happened, many affiliates are still generating millions of dollars a year in commissions by marketing products from some of the best affiliate programs.

Looking for a list of top affiliate programs? Check out this resource from Bengu Marketing.

What do affiliate need to succeed in 2017 and beyond?

Stay focused on one thing

Many affiliates try to master fifty different niches when they get started. They put their fingers in all the pies in the hope that one of them will work out. It can be hard to stay focused when you hear about other people doing so well in all sorts of niches.

The problem with trying to master so many niches in one go is that you don’t become an expert in any of them and your websites ultimately suck.

Don’t get me wrong, its okay to experiment with different niches but ideally you want to pick one niche that you really love and focus on that until it starts generating consistent sales for you.

Create Awesome Content

This is actually not that hard and it is something that will stand the test of time. One of the biggest problems affiliates have is proving their value as middle man between the customer and the merchant.

You can do this by providing awesome value to your visitors in the form of amazing content. Yes it’ll take you some time to produce pieces of content that is better than anything else out there but it’ll definitely pay off for you in the long run. Your content will become an asset for your business.

As an affiliate you have the advantage of speed and versatility. While big companies spend months holding meeting and approving their marketing strategies. You can create an insane piece of content that competitors won’t be able to compete with.

Build a Brand That Adds Value

Google is biased towards brands and this is only something that is getting stronger. This is a big problem for many affiliates because a lot of them aren’t concerned with building a brand at all.

If you look at some of the leading sites in industries like travel, insurance and property it may come as a surprise to you that the majority of these sites are actually affiliate sites.

Websites like Moneysupermarket, Which and Lastminute are all fully blown affiliate sites. They don’t own any products themselves. They just help you find the best deal for whatever you’re looking for.

But here’s the kicker:

They provide amazing value and are super successful because of the strength of their brands as well as the amount of value they provide to their customers.

Affiliate marketers will increasingly find it difficult to succeed without taking the time to build a brand.

Build a Solid Foundation

The success and longevity of your business will only be as strong as the foundations you build for it. Using shady techniques to generate traffic and gain rankings isn’t something that is going to work for you in the long term. On the same subject, the affiliate program you’re with could shut down or your advertising costs could suddenly go up.

The best thing for you to do is to build recurring revenue income streams in your business. This is so that even if you stop making sales, you’ll still have money coming in every month from your previous customers.

This approach depends on the niche and affiliate program you are in but you want to try and find something to promote that gives you the option to earn recurring affiliate commissions. This will give you an added piece of mind where if anything catastrophic happens in your business, you’ll still be earning an income.

Build Traffic Sources

Just like how we should all be building multiple streams of income and diversifying. Relying on a single traffic source can be very risky business. Thousands of people discovered this when the Google panda and penguin …

Compensation Methods For Affiliate Marketing

The affiliate marketing business model mainly operates on a fairly straight-forward pay per sale method. This is actually what 80% of affiliate programs use to this day. Nineteen percent of companies use a cost per action business model and the rest of them use a cost per click or cost per mille (CPM, cost per 1000 views).

CPC and CPM account for less than one percent of affiliate programs at the moment, although these payment methods are still used frequently in paid search marketing.

CPM requires that the affiliate publishes an ad on his/her website. Once the ad receives 1000 impressions the affiliate is paid a commission. PPC (Pay-Per-Click) requires an additional step in the process where a visitor is required to click on the ad before the affiliate gets compensated.

CPC was a lot more common in earlier days of affiliate marketing but is now almost non-existant due to things like fake clicks and the like. While CPC is almost non-existant in e-commerce and online advertising industries, they are still prevalent in some places. China is an example of a country where affiliate marketing works completely differently. Many affiliate over there get paid a flat rate on a daily basis with certain networks offering CPC and CPM payment models.

In the case of CPM and CPC, the affiliate doesn’t care about the relevancy of the traffic because he only need to generate impressions and clicks to get paid. In many cases the merchant ends up losing out in a big way because the traffic is worthless and doesn’t convert but they still have to pay to affiliate their commissions. This is partly the reason why these compensation methods are almost non-existant now.

Another term for affiliate marketing is “performance marketing”. This is in reference to how salesmen are usually compensated. These employees are paid a commission for each sale they make, incentivising them to work harder to generate more leads and make more sales. Affiliate marketers aren’t employed by merchants in this way but the same compensation method applies to affiliate marketing now.

People often say that “affiliates act as an extended sales force for your business”, this statements isn’t strictly accurate. The main difference between the two is that affiliate’s don’t really provide much influence to a potential customers in the conversion process once they’ve clicked onto the merchant website. It can be said though that affiliates do prequalify prospects with the content on their website. This could be in the form of a review for a product or an outstanding piece of content.…

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