Steps For Starting An Online Business – Your Best Options

steps for starting an online business

Welcome to Extra Paycheck Online!

This website is my gift to you and was put together to help you get started in learning where and how to earn online.

You can make a full-time income online, you can make enough to replace your current income, or you can just earn some money on the side.

Obviously, full-time status is going to take a bit more work, but it can be done.

My favorite aspects of growing a business online is that there’s so much potential and there’s really no cap or limit to how much one can earn.

Not to mention – ANYONE can take these steps for starting an online business and creating success for themselves from the comfort of home or wherever there’s wifi.

This, of course, is when done the right way…

Why I Believe Most People Fail

Making money online isn’t the easiest thing to do, but I think that the real struggle people have is finding something that actually works, and helps them really make money.

Tip: It’s not about luck, it’s about finding good strategies and having a positive mindset.

If you focus and work hard using the wrong strategies, you will never achieve what you want and that’s what makes people give up.

Rightfully so.

However, with the right game plan and proper guidance, you can achieve so much success online including – starting your first website, helping other people, making money on the go or while you’re out with friends and family or even asleep, extra money to give back to others, and so many different possibilities.

But first, you have to determine which business is right for you.

Steps For Starting An Online Business

There’s obviously more than one way to making money or starting a business online.

Instead of telling you about the “Top 52 Best Miraculous Ways To Make Money Online” and then lead you to several different survey sites (boo!), I am going to share with you the 6 best ways to earning money online.

The first step, Choosing A Business Model

Your 6 best options for starting an online business include:steps for starting an online businesssteps for starting an online businesssteps for starting an online business

  • Software (including apps)
  • Physical products
  • Ads
  • Coaching
  • Online courses
  • Affiliate marketing

I make most of my income with affiliate marketing, which is one of the concepts we are going to focus on below.

It’s a great way to begin making money online, plus I’ll show you where you can begin and even build your own website today for free.

But first, let’s take a look at ads.

Ads

Ads are common and simple, and everyone is aware of them. You see them when you make a search in Google or even while on Facebook.

Ads mean you put a simple Google Adsense ad up on your site (or any type of other ads) and as you get more traffic and more clicks from people clicking on those ads, you can sometimes earn a few cents or a couple of dollars.

There are many kinds of ads out there, but I’m speaking in general terms.

To make any real money by using ads, you are going to need A LOT of traffic.

Many many months ago, I use to run ads on this site:

first steps on starting an online business

Since then my traffic flow has increased significantly, so my earnings would be a bit more – but I doubt enough to pay the bills.

I know of plenty of sites that run ads successfully, but these guys and gals are getting around 100,000’s of pageviews regularly.

For me it came down to this – do I want people to focus on my content, or to focus on these ugly distracting ads which pop-up and do all sorts of unnecessary things?

I chose to spend my time focusing on things that matter like providing reliable information to the Extra Paycheck Online readers, and not worrying about optimizing/adjusting ads in order to get more clicks.

Note: We are currently testing ads on this site as of 02/19/2017. Will let you know how it goes!

With ads, you can make money, but it’s not the best focus for a brand new website owner as your going to need a lot of traffic to your site and large, consistent traffic takes a long time to build.

Physical Products

Basically, you can take any physical product (clothing, electronics, whatever invention) and set up shop online.steps for starting an online business

For those starting a (fresh) business, I can’t really suggest this business model.

Yes, you can create great success selling your own physical product, however, compared to some of the other models, the profit margin is not as great.

Think about it.

When it comes to owning and selling your own physical item – you have to account for manufacturing your creation (product), also – inventory, shipping, returns/refunds, etc.

This all comes after researching your idea for a product, making a prototype, ensuring that there’s a market for your creation, filing a patent, then marketing the actual creation for a profit.

I’m no expert when it comes to physical products, but there’s a lot of moving parts involved to get it going.

A great place to learn more about starting an online store would be My Wife Quit Her Job (mywifequitherjob.com).

It’s sophisticated (as is business in general), but with the right teaching and discipline, you can succeed at any online business.

When it comes to selling physical products, the room for profit is not as great as creating your own online courses, coaching, or affiliate marketing.

All of which not only have a higher profit margin, in most cases but are significantly less in terms of startup costs.

Online Courses

Selling something you create/information products (like an eBook or video course).

Just like any other online business model you choose to follow, ads, physical products, etc. These things take time and a lot of work upfront.

The beauty of the internet is that once you hit the Publish button, and release it to the world, it generally doesn’t come down unless you decide to delete it.

Point being, after front-loading the work, you can profit off of your work virtually – forever.

This is true when you create your own online courses or any great piece of content online.

The trick is to know where to start, or what can you possibly create that others would be interested in as an online course let alone a full on business.

Well, anything really. Just like any business the first step to take – after deciding which business model is right for you, is to find a suitable niche.

To learn more about getting started with online courses and even coaching, I suggest you have a look at I Will Teach You To Be Rich (iwillteachyoutoberich.com)

Affiliate Marketing

Affiliate marketing is how I make most of my income.

A lot of people make a lot of money with affiliate marketing.

Besides the fact that people are making money, here’s what I enjoy most about it:

  • Very low start up cost
  • You can promote millions of products and services
  • You don’t need to own or purchase any products
  • No dealing with house inventory, shipping, returns, refunds
  • You don’t need any experience to get started

Most online transactions are affiliate based (a very high percentage).

The basic idea behind affiliate marketing is to connect people to the company or another individual’s products by using your (special) affiliate link.

In doing so, you earn commissions.

The revenue you earn from each commission varies on the affiliate programs you join. This ranges anywhere from 1%-75%.

Another bonus is that there are no costs to joining legitimate affiliate programs.

Do you know what the largest affiliate program in the world is?

Amazon.com (just to name one out of the thousands out there)steps for starting an online business

Did you know, you can join Amazon’s affiliate program and sell just about virtually anything on there for a commission.

Amazon will provide you with your own (special) affiliate link.

If someone decides to make a purchase(s) after a certain amount of days of clicking your link – you get credit ($$).

There is a certain sophistication to it, but one that anyone can learn without having any prior experience.

The best place to learn how to create your own business following the affiliate marketing business model is at Wealthy Affiliate (wealthyaffiliate.com)

The Next Steps & Getting Started Today

As mentioned, affiliate marketing is how I make most of my income.

I rarely mention online jobs on this website (where you fill out an application, work for someone else, etc.) because I have never had an online “job”, and don’t plan on getting one.

Instead, I am going to stay in my lane and discuss what I know and what has been working for me, affiliate marketing. Feel free to follow some of the links I shared above to explore the other business models.

Here are the 4 simple steps for starting an online business long-term, which allows you to make money while sharing products and services:

  1. Choose an interest
  2. Build a website
  3. Attract visitors
  4. Earn revenue

When it comes to choosing an interest, you can literally choose any passion or hobby of yours and create a successful business.

The idea is to build your own website, which is the only way to create a long-term business online and attract visitors who share your same passion or interest.

With over 3 Billion people who now have access to the internet, how many do you think to share your same interests?

You have the option of connecting your audience with excellent products and services related to your website and earn money in the process.

For example, let’s say traveling is your passion.steps for starting an online business

What are some of the things you do to save money while traveling? Or what are the items you can’t leave behind when you travel?

And using Amazon as an example affiliate programs, there are thousands of items you can link to for a traveling website – pillows, backpacks, cameras, electric shavers, portable devices, headphones, books, etc.

There are even car rental affiliate programs where you can generate commissions for linking people to them.

Affiliate links work best when you recommend something you truly believe in.

There’s also endless options here and travel is just one small example

You can share these tips with others on your own website following a passion you love and as a result from it – earn consistent income online.

AND, you can apply this to anything you enjoy or are passionate about: Fitness, sports, video games, fashion, people, animals, food, dating, anything!

There’s a certain way to go about getting started and presenting this in the most helpful way to your audience.

All of which is being taught inside of Wealthy Affiliate, the best place to build a business online.

Of course, you could learn how to make money or create your own business online by yourself, but you’re going to spin your wheels a lot.

You don’t have to try and do everything on your own.

With Wealthy Affiliate, you’re getting a ‘playbook’ that teaches you how to begin building and to maintain a long-term business that will generate income for you for years and years to come.

The primary focus there is affiliate marketing but you will learn so much more about online business in general like reinvesting – growing – and scaling your business if scaling your business is something you choose to do.

If you can work hard and link people to great products, you can earn a lot of money as an affiliate.

I caution you, these things take time and don’t happen overnight but for those wanting to earn money on the side or even life changing money – online business is the way to go and Wealthy affiliate is my top recommendation.

A Complete Review On Wealthy Affiliate.

A Legitimate Way To Make Money – Join Today!

 

What are some of your experiences when it comes to online business, did I miss one of the better business models out there? Feel free to share with us in the comments below!

 

 

 

About the author

Jason

My goal for this website is to help those who are looking to make money online from the comfort of their home and to offer people an alternative to the FIXED 9-to-5 life. Whether you are looking to make full time income online or just looking to make some extra cash. I've got you covered.

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