Published on October 12th, 2020 | by Maryn Mcdonnell0
6 Tips for Entrepreneurs to Make Money in the Digital Era
Times are changing, and so are many people’s lives. Unlike in the past, today, e-commerce has flourished tremendously. Besides, more and more entrepreneurs are resorting to making the most out of the digital space. Notably, digital entrepreneurship allows people to work from their home’s comfort and have more than one revenue stream. While there is so much one can do, here are some ways entrepreneurs can make a fortune in the digital era.
Over the years, eCommerce sales have greatly revolutionized. In the past, entrepreneurs would have to buy products in bulk, without any assurance that they would make any sales. However, that’s a thing of the past. In today’s day and age, entrepreneurs can make money through dropshipping. In this model, you can resell products without having to stock up. All you have to do is market the products, and the original seller can ship them to the buyer and your name.
2. Knowledge Commerce
Undoubtedly, that skill which you have mastered could offer you infinite opportunities. You can share your knowledge and make money while at it. One way to make money is by creating an online course and sell it through the various platforms available. However, it is important to note that your greatest marketing tool will be quality. Therefore, it would be best to arrange your work chronologically to keep your audience interested. Besides, consider investing in high-quality devices such as video cameras and microphones.
3. Social Media Influencing
In the recent past, there has been a surge in the number of social media users. While social media platforms are a great way to connect with friends and keep up with the latest trends, they could be an avenue to make a living. Various brands have resorted to digital marketing and are willing to pay handsomely. However, it is not all roses. Like any other business, you need to strategize and put your best foot forward. For instance, you need to be consistent to amass a significant following. Besides, you also need to post insightful and attractive videos.
Better still, you can align your social media influencing job with your hobbies. For instance, if you love travelling, you can work in partnership with an airline.
4. Creative Writing
Besides sharing your knowledge on knowledge commerce platforms, you can write a book. While many people write for fun, it could be a source of money. The good news is; you can submit an ebook to various platforms at absolutely no cost. However, once again, you must ensure that you deliver quality work and market it relentlessly.
Blogging is no longer an alien concept. Most people are doing it, and so can you. While there is no guarantee that your blog will be an instant success, you can always learn from these mistakes. One of the perks of establishing a blog is that you are in full control of the site. Therefore, you are at liberty to decide how much to sell your blog. For beginners, a WordPress website would be a great place to start.
Photography can be such a therapeutic hobby. However, if you are a good photographer, you can make money off your hobby by selling your work online. While it’s an easy way to make money, the competition is cut-throat. Therefore, you need to sell unparalleled quality consistently.
The Bottom Line
Being an entrepreneur in the digital era presents you with infinite possibilities. Besides flexible working hours, most of them require very little to no capital. Access to the internet might be all you need. However, just like in conventional entrepreneurship, one needs to plan and strategize.