How to Make Money Online

How to Make Money Online

If you never wanted to make money online before the covid-19 breakout, you surely welcome the idea of making money online now that the covid-19 has made many not to be able to move freely going about the physical day-to-day business. Most business has been put to halt in this period of the pandemic outbreak.

It is obvious that the most lucrative businesses that one can ever invest in are online businesses.
Not everyone understands how online business is setup and run. Though some persons have taken a bold step to start one but they end up being fraustrated when what they expected isn't what they see.

Planning is very important if you want your online business to help you realise your expectations - be it in terms of profit volume, sales, brand awareness, community, etc.

Also, you need to know what your target market needs at the moment. In this particular post, you will learn how to make money online by understanding how online business work and seeing some lucrative online businesses that require little investment capital to setup and run.

1. How Money is Made Online

First thing to know is that money is not made by just having a website

Why is that so?
The answer is simple - your website host, telecommunication network providers and bank don't have any agreement whatsoever for website owners to make money through any means out of the box.
What does this mean?
It means that you don't make money when people view your website if you have nothing to sell to them or a way of converting traffic into money stream. And that has to be done deliberately.
How can that be done deliberately?
There are basically two ways to make money with your website. One way is by selling products and services directly or indirectly from your website. (If you will like to know more about how to set up your website to enable you sell things directly from your website comment below so that we will publish that also). The second way is by selling your website traffic. This can be done in various ways also. The basic approach is by advertising on your website.

2. Plan for Profit

The next thing to know is that people pay for value

Don't rush into starting that online business, take time to plan your business and know where you can add value.

Few questions that can help you plan and get prepared the best way for profits are:

What do people want?
People have what they want and they come to online to look for how to get such things. Take time to do your research and gather enough data on this. (To know more about how to research about what people want, comment below)

What do people want that I can give?
Out of the list of people's wants that you have gathered, select out the ones you are competent enough and can passionately do as a business then continue planning with that.

How many people want what I can give?
Then also consider the market size for what you've selected from the previous plan. Go for the one with the largest market size. In fact, the money is in the volume!

How often and how long will this continue to be their want?
Take advantage of this knowledge to make the money while it still last if you can. Not all businesses will continue to be a want in the market. Some businesses will gradually fade away. So, make the money in the business while it lasts

How many competitors are there for the same thing I can offer?
This is important to help you strategise and make the advantageous move before your competitors realise what is going on.

How do I do better than my competitors?
When you already know what your competitors are offering and you understand your customers want then you can comeup with the idea that makes you standout.

Am I touching customers pain-point?
Ensure your business is actually solving the problems that are pressing and urgent to your customers.

Am I connecting with my customers?
Connecting with your customers in a language that they understand easily is key. Get touch there very core of emotions and they will always run to you.