Today, with the level of technology available, you can create businesses that are very different from the conventional ones and still earn millions. These businesses are cheaper and easier to start and run. The investment is minimal while the return on investment (ROI) is many times more (over a thousand times). Most of these businesses are virtual; this means that there is no need for offices, inventory, brick and mortar assets, large staff, countless licenses, shipping costs and many other overheads. These businesses are automated (work twenty hours seven days a week) and are accessible to anyone from and anywhere, and any time as long as there is an internet connection.
The business ideas or models presented below are not the only ones that can enable you to make money online; there are more. However, these are the businesses that can give good return on your investment and have minimal frauds involved. Some other tech businesses include; content generation and management, paid to click, paid to read emails, paid to watch movies, paid to stuff envelopes, paid to invite friends and many others. The similarities of these activities are marred by low payment or ROI and a lot of fraud.
Proven Tech Ideas that can earn you Good Money
- Affiliate marketing
In affiliate market you need to find one or more index (high demand) product or service from thousands of online and offline products. Then you must define your market segment and how to reach them through the available online marketing channels such as websites, SEO, Pay per click (PPC), Pay per view (PPV), Back links, Blogs, Social Media and other advertisement channels.
Once you have defined and reached your target audience, you need convince them to buy the product. NB// you do not own the products but you are sell them for a third-party for a commission. Most affiliate marketing channels come with systems that track every sale made through your efforts and total commission is calculated.
A start-up affiliate marketing business just needs your time (a few minutes daily), a computer, internet, a home office and sometimes a website. However you can succeed more with a website. So as you can see, the investment is very small. Some of the products include software, clothing apparel and electronics among many others. You can use platforms such as Amazon, Alibaba, Clickbank among many others.
- Social Media Networks
The social media platforms have become very rich income generating grounds for everyone. Some of the popular social media networks where you can earn money include; Facebook, Twitter, Youtube, Pinterest, Linkedin, Instagram, Whatsup among many others. Since these platforms enable people to interact; marketing of goods and services is very easy through content, links, images, threads, paid advertisement, banners and word of mouth. In social media networks you can earn through the following.
(i) Selling your products: You can sell products and services that you produce yourself whether they are tangible (clothes, books, furniture etc.) or intangible (e-books, software, websites, music etc.).
(ii) Selling affiliate products: Here you will sell goods you pick online and offline for commissions. The price you sell the products is dictated by the seller but you get a margin or commission per unit. What this means is that you do not have the right to manipulate the prices to your favor. This fixing of prices results from the urge to compete with other similar products and affiliates. However. You can lower the prices making your commission margins decrease. The advantage is that you are not responsible for their production, inventory, insurance and shipping; your only play part in their marketing.
(iii) Social media account management:Social media account management is a bit new compared to the two mentioned above. You will find that there are businesses and people or personalities who either do not have the skills in using the social media networks or just do not have the time to communicate with their publics (customer, staff and suppliers).
This group is now hiring part-time or full timer account managers to manage their social media content. The content includes responding to questions and enquiries, engaging followers in discussions, creating fresh content, getting feedbacks, updating existing content and many other duties. The managers act as virtual assistants.
- Re-packaging Third Party Products and Services to as your Own
Sometimes you might find a number of products that if combined with each other will increase the value of each other (value addition). An example is if one business (A) produces movies, another (B) sells movie players and the other (C) offers payment solutions. It you can create a product that combines the three (A, B &C), you are certain to sell more and earn bigger revenues from the three. What you do is to sell the package as your own, but when the buyer payers you, you remit the agreed amount to the original owners.
This too requires very little investment for there will be no inventory needed (no capital to buy products before you sell them. All you need to do is make contracts with the suppliers and gear up the marketing campaigns. Due to bulk selling you will get better profit margins than if you sold the three products individually. The advantage of this is that you decide the price or profit margin.
- Virtual Assistance services
Since the crack of the twenty-first century, formal job opportunities have tremendously declined. Businesses have scaled done on labor, space, benefits, transport and marketing costs making millions of people lose their ‘eight to nine’ jobs. Fortunately, the internet has come to fill in the gap. There are many activities that can generated revenue from home which include offering virtual assistance to companies and individuals
Virtual assistance services includes responding to emails, making phone calls to clients, managing office diaries, making bookings, managing social media accounts, customer support services among many others. The payment are done based on the quantity of work, hourly, bi-weekly, monthly salary and the number of chores performed per a certain period.
- Virtual Brokerage
Brokers act as proxies. There are millions of items that can go through brokers to increase their speed of sale and value, access markets that were limited to the seller or meet some demanded requirements. To be a virtual broker you need to research thoroughly for items on sale in different places and find viable buyers. This is then followed by making agreements with the seller on the terms and prices. The seller does not give commissions but the broker adds a margin on top of the seller’s price so as the reward for the work. However, the broker has the freedom to manipulate the prices upwards and downwards. All expenses are catered for by the broker thus occasional loses can be expected if proper pricing is not done.
Virtual brokerage can be done on things like properties and motor vehicles among others (both locally and international. Also, you can offer the service of negotiating on behalf of foreign businesses (purchase, contracts and mergers) where the reward can be cash or in form of equity.
- Foreign Business Agency
You can start a business where you are contracted to do some functions in a new market region on behalf. If a company wants to sell products in a new country or area, it would be very expensive for it to ship its staff, do first research, study the market and meet the legal requirements before knowing whether it will engage fully. The best person to do this is a person residing there or an agent. The agent is well versed with the past and existing conditions in the market, legal policies and competition. In this type of work, you will be remunerated in form of cash, franchise rights, discounted prices or equity in the satellite branch.
- International Stocks Trading
Another way to earn online is to trade in internationally quoted stocks. However, before starting the real trading, you need to do some training using virtual cash to buy stock to understand the transactions. There are many websites that offer training so that you can later use them. All what is required is to have some knowledge on stocks trading, allocate some time every day during the working days (stock markets do not open on weekends), and some money to buy shares or activate your account. It is advisable that you start with little cash and increase the levels of investments as you make profits and accumulate money on your online account. When you have enough money you can withdraw it through the provided channels such as direct bank deposits or money transfers such as MoneyGram, Pay Pal and Western Union.
This trading entails buying stocks that you predict will increase in value to later sell them at a higher price. Great caution must be exercised lest you end up bankrupt; it is much of playing with odds like in gambling.
In all the above businesses, technology plays the greatest role in bring the parties together, communication, marketing, customer support and enabling payments. This technology is the internet and it’s accessories such as computing gadgets, communication equipment among a few others. With more technological advancements in the future, there will be more ease in trading, communication, skills access, marketing and better customer satisfaction. This will result in more money and investments.