First, the pandemic and subsequent economic recession have been a difficult time for many people. The unemployment rate is still hovering around too-high%. And now, we hear of the Great Resignation! As such, it\’s easy to feel like you\’re stuck in the same spot that you\’ve always been in – and there isn\’t any way out. But don\’t worry! There are plenty of ways to start your career, and Affiliate Marketing or eCommerce might be the best place for you to start recovering from this recession.
Do you feel there is something missing in your life? You might be feeling trapped by the need to make a living. A sense of purpose and fulfilment can only come from pursuing a career, but what if one or more of these fields are not possible for you? What about starting an online business through affiliate marketing or eCommerce?
1. What is Affiliate Marketing
Affiliate marketing is where you promote another company\’s products or services and they give you a commission for every sale that comes through your referral. There are plenty of opportunities out there, but the best place to start would be with Amazon – have an account? Then just search \”affiliates\” in their directory! The commissions can range from 2-5% depending on products.
The best place to start with affiliate marketing is Amazon – do you have an account? Then just search \”affiliates\” in their directory! The commissions can range from a few hundred dollars per sale up to $50,000+ for more expensive products like cars and airplanes.
While many companies manage their own affiliate marketing, there are several affiliate marketing platforms such as AWIN, Digistore24, and ClickBank that you can use to sign up and manage your campaign either promoting your own products and services or someone else\’s.
2. Pros and Cons of Affiliate Marketing
Like every business model, affiliate marketing has its pros and cons. Affiliate marketing is a great way to start your own company because it can be done from anywhere in the world with an internet connection and requires a similar skill set to, for example, eCommerce – a skill set that can be learned.
Affiliate marketing is great for people looking to work from home or part-time.
The main thing you need to have in order to succeed with this type of business model is a strong internet connection and the willingness to learn new skills as they arise.
You also will want just enough capital – but a lot less than you would imagine, available so that you can reinvest your profits into growing your new affiliate business.
The main issue that arises when you are starting out as an affiliate marketer is getting the psychology right and getting over the fact that there is competition.
3. How to Get Started with Affiliate Marketing
When getting started on your journey into the world of affiliate marketing, it is important to identify what you want from this type of business model. You will need to do some research and straight thinking about who you would like to deal with, and what kind of content would you like to create, for example.
Do you have a blog that will be connected to an Affiliate Marketing store or do you just want to advertise on Facebook for specific companies? These are all important questions to answer as you start your journey.
Once you have identified what type of Affiliate Marketing business model will work for you, it is time to find the right company to partner with and take advantage of their training programs so that you can learn how to be successful in this space. Once again, in order to be successful, you need to focus on solving a problem for your customer, it\’s not all about you.
The next thing to do is identify the right products or services that you want to be associated with. Some common ones are books, courses, sites, and physical products such as clothing items and electronics. You can also promote affiliate offers from other brands in your niche – these could include membership websites for specific niches which offer memberships for a monthly
Affiliate marketing is great for anyone with little experience or few technical skills who wants to earn commission on sales they refer to another company\’s website through their own social media posts, blog content (including this one), or website – BUT BEFORE YOUR START, A MENTOR WITH A SYSTEM ALWAYS HELPS!
4. What is eCommerce?
eCommerce is a business model where products or services are sold and delivered electronically, typically over the Internet. It can also be defined as buying something online using a computer or mobile device.
If you\’re considering starting an eCommerce business there are some things that will help to guide your path.
What\’s the goal of your business? Are you seeking to make a profit, or do you want this venture to be primarily for advertising purposes? Is there a specific niche that you\’re looking to enter into?
Are there any regulatory laws and licenses that will apply in your region or country? What are some potential risks with running a business where goods come from abroad for your market? In electronics for example there are issues of electrical supply, regulatory compliance, customer taste and of course the big questions about import tax, duties, VAT, GST or similar … and whether your customers will pay the price to cover all these charges and still give you an adequate margin to live on. of franchising and licensing a business.
BUT BEFORE YOUR START,
5. Pros and Cons of eCommerce
E-commerce can provide a convenient way of selling products or services online
The risk with eCommerce is that it doesn\’t offer the same protection as face-to-face transactions.
What are the resources that you have at your disposal? What kind of skillset do you bring to a business venture like this?
Do you want to work from home or set up an office space somewhere and staff it with other people, or will this be 100% online? Will there be any financial risk involved in setting up premises?
Costs of starting an eCommerce business include the cost to set up a website, the time taken to manage it, and having enough money for advertising.
If you are just selling products online without any other services then there would be no need for premises or staff.
Do you want 100% ownership? There is also the option
Consider the pros and cons of each option, so that you can make an informed decision – A MENTOR WITH A SYSTEM MIGHT MAKE THIS EASIER!.
6. How to Get Started with eCommerce
eCommerce is a little trickier to set up, as you would need to buy and sell the products yourself – but it can be hugely rewarding for those who want 100% ownership of their business and have some marketing skills.
E-Commerce business models vary greatly, but the basics of the model are that you buy and sell products online.
The type of E-Commerce business you choose will depend on your own skillset – if you have a knack for retail then setting up an eCommerce shop may be easier than starting from scratch with affiliate marketing!
Modeling your business on an Amazon, Shopify, or Etsy model is a good place to start for those who are unsure of what direction they want to take their new E-Commerce business.
There are many free resources available when it comes to starting up your own eCommerce store. On Shopify, for example, you can set one up in less than an hour!
eCommerce platforms also offer marketing tips, so you can make sure you are reaching the right audience.
You\’re mid-to-late-career, worried about retirement or redundancy, dislike your work or your boss, are unhappy with your progress to date, or your direction and fancy a change without ditching everything and burning bridges just yet?
As they advise in The Hitchhiker\’s Guide to the Galaxy, \”DON\’T PANIC\”
I know that it can be daunting when you first realize that your current position is not where you want to be and you begin to wonder what you can do about it – what your options are and so on.
I was in a similar position several months ago and stumbled across what was then Six Figure Mentors and has since morphed into Mentors. This is an exceptional group of people whose mission is to teach online marketing through community mentoring and experiential marketing.
In the course of the last several months, we had sessions on all aspects of online marketing, and more importantly, finding the why …
Why even bother to set up this or any other business?
I realised that the best way to make a change in my career without taking an enormous risk was to work with a mentor. The gradual learning approach will allow you to finally say, \”I\’m working at my day job Monday through Friday and growing my business part-time.\”
So, what to do next?
One of the more intriguing paths I came across for my new career was affiliate marketing. The self-sufficient aspect, little or no start-up costs, and the potential to do it on a flexible schedule were what really drew me in.
When you stop looking for excuses, there is no problem too big so just do your research, look for the best approaches on offer and choose wisely … but do choose and move forward to a better future!