Investing in the stock market is a seemingly simple task. All you have to do is open a securities account, which is obtained from a current account at a bank, or a broker, and start buying. However, to make these investments it is necessary to study, understand the market and do it with your head, because it is just as simple to invest as it is to lose everything in just a few seconds.
If we want to get started in the world of the stock market, we need to start training ourselves. There are many books on this subject that will give us a global vision of what investing means. We can also go to the press and read the technical analyses that analysts carry out on all securities and their characteristics. Before doing anything, without touching our money, we have to lay our own foundations and know what kind of investors we want to be (find out here ). To do this, we will study our purchasing power, assess how much we can risk and what losses are within our possibilities, because whenever one invests, one must know that there is a 50% chance of winning, but also of losing.
If we have money saved up and we want to make it profitable, investing is a good option. Unlike what is usually heard, you do not need a large amount of money to do so. However, the more capital we have, the more we will be able to undertake, the more we will diversify and, therefore, the more benefits we will have. However, at the beginning we should start by risking little money until we control the market and the actions we take, ideally by doing a study of our own accounts. Let us assume that we have EUR 1 000 saved up and that we want to invest it. With that amount we can already acquire a package of shares. To do this, we must have clear parameters such as the market situation in general, how the companies are doing, what the price of the shares of each company is, its share price and its monthly and annual progressions.
Investing is a long-distance race, it is a mistake to think that investing in the stock market is a matter of buying and selling in a short period of time and making a profit, intraday investments are for experts. You have to be realistic. A novice investor should buy, and when he makes a profit save one part and reinvest the other.
If we believe that we cannot do it alone, there is the possibility of hiring a stockbroker, who will be our advisor and will help us move our money from his knowledge of the market. A broker can be a person, an entity or our own bank, which will act as an intermediary for us to enter the stock market.
Study the market
The time has come to decide which shares to buy. We can buy many stocks from a single company or diversify. Doing the latter will increase our focus and decrease our risk, because if we have all our capital in shares of a single company and they lose their value, we will be left with nothing. Stocks are shares that companies sell to finance themselves, after passing the relevant quality controls. To decide on one company or another we must look at the price, that is, the share price, in addition to technical and fundamental analyses that refer to studies of the shares through patterns or trends and external factors.
The stock market is very sensitive, it is susceptible to many changes and it lives conditioned by current events. Any political, economic and social manifestation makes it wobble, so it is very difficult to predict what will happen. A company may close as the best market value one day, and end up in the last positions the next day. That does not mean we have to withdraw the shares, we have to wait and find a balance. To invest we have to look at the profit of the listed companies and decide, although there are always exceptions.
Dividends and profits
Dividends are the corporate profits that companies allocate to their shareholders, and each company decides how to distribute them. Usually corporations reinvest a percentage of the profits and another part is distributed to the owners of the securities, in physical money or in more shares. All the shares of the companies have the same value, are equal and their profits are equal. Therefore, when we buy securities we become partners in that company, we have the same rights, and we get the same dividends, in the proportion that we have.
Trading or short-term investment
Another way to invest is through trading, which consists of buying listed assets and selling them very quickly on a regulated online market. A trader is a speculator who is based on probabilities and who acts according to a series of specific parameters, different from those used by investors. For them it does not matter the quality of the company, since their purchase and sale is executed in a short or very short term. In trading, we look for specific movements, something that stands out at a certain moment and that can generate benefits. It is possible to say that the trader is the opposite of the investor since as we have commented, in the stock market it is advisable to invest in the long term. In recent years this type of investment has become very popular despite the risks involved. Its practice, although it may seem complementary, is the opposite of classic investments that require careful study and a lot of patience.
To invest in the stock market we do not need much money, we can buy shares of a company, or diversify our portfolio in case things do not turn out as we expect. If we do not have enough knowledge we can hire a broker, which can be a person, a company or our own bank. These types of investments are long term operations so we must be patient, otherwise we could endanger our capital.
Posted inMain|Comments Off on Investing in the stock market: first steps
Perhaps, a blog is the most basic way to create an online business with WordPress. And I’m not saying it’s easy, but on many occasions, those of us who have a blog have been able to consider monetizing it and turning it into a profitable business that gives us the viability to continue investing time in creating content to share our knowledge.
When we open a blog it is usually to write about a topic that we like and in which we have something to contribute. Generally, what makes us different is our point of view or way of doing things, since almost all topics are already present on the Internet. But it is not a question of reinventing the wheel but of contributing value with our experience and point of view.
On other occasions, what we want is to position our personal brand in a specific market. Writing in a blog will help us to do this by giving us visibility and authority. Or maybe we started without any intention and the fact of controlling a specific topic and writing about it has made us a reference in that subject without looking for it.
Either way, all this can have an impact on selling more services or getting more customers in general. And even as a resume to get a job. But we are not talking in this content about how to create a brand, position ourselves in a market, get leads, or how to sell your products or services. These are all ways of digitizing our business itself.
As we said at the beginning we are going to focus on pure and hard digital business. That is, businesses that exist on the Internet independently of offline. Next, we will see different examples of how to make money with a blog.
Turning a Blog into a profitable Internet business by selling Infoproducts
I am not going to go into too much detail here because there are thousands of articles on the Internet on this subject. But basically it means that if you control a particular subject you can package that knowledge to sell it as a product, such as a course, an ebook, a webinar…
An online business focused on creating infoproducts, means that first you have to create the product to sell it to your blog’s target audience. And this is not easy or fast. And it’s certainly not the coveted passive income everyone is talking about.
You’ll have to work hard on the content and probably update it from time to time as well as support your customers.
With WordPress, plugins, and integrations with other systems, it’s easy to manage a platform to sell your knowledge. Without going into details, to sell any digital product through a page made with WordPress we could use different plugins but I highlight and recommend EDD (Easy Digital Downloads).
Easy Digital Downloads is a Fremium plugin (but with the free version you have plenty) with which you can create downloadable products in a super easy way. The plugin is intended for all kinds of downloadable material, but it is not only suitable for that. You could even use it just to charge for a service even if the service was done offline.
The main feature of this plugin is basically that it is not suitable for physical products because there is simply no section to send the goods. Let’s say it’s exclusively for intangible products and services. And since we have mentioned it, I leave you some resources if you want to create an ebook.
Affiliate links to turn a blog into a profitable online business
An easier way to start generating online income with your blog is through affiliate links. But for a blog to become a profitable business on the Internet thanks to affiliate link revenue we’re going to need something very important. A large audience.
Here’s how it works.
There are websites and other platforms that have integrated a system by which, when you recommend in your blog one of their products or services by putting a link to those products or services, the clicks that receive those links are tracked for a certain time (depends on each affiliate program but can go from days to months). If in that time the referred user (i.e. the one who clicked on your affiliate link) makes a purchase on that platform (even if it’s not the product you linked), you will earn a commission from that sale.
So it’s all about bringing a lot of traffic to your blog and placing the affiliate links in the places where they can receive the most clicks.
Most commonly, you use this monetization system along with other ways to make money from your blog. But if your blog receives good and constant traffic it can become an important extra in the total online income.
If you want to mess around a bit, you could start by joining the Amazon affiliate program and try to position some content where you link to some product with its affiliate link.
To manage the affiliate links of these platforms within your blog, I could recommend the Easy Affiliate Links or Pretty Links plugins that help you create more friendly urls and also give you statistics on the activity of your affiliate links.
And if you want to create your own affiliate system so that you have a “team of salespeople” who recommend your products or services in exchange for a commission, you could use the very complete AffiliateWP premium plugin.
Insert advertisements in your blog to get a profitable business on the Internet
Another way to make money with a blog is through ads. These can be ads and banners that you put on your website manually after reaching an agreement with the advertiser. Or, better yet, they can be ads that automatically insert third-party platforms into your blog if you are targeted to their program.
The most famous and widespread advertising program on the Internet is Google Adsense. I leave you here linked a complete Guide of Google Adsense that Claudio Inacio wrote for this web in May.
Nº2 – Niche page as a profitable business on the Internet
A niche site consists of an ultra-focused blog in a specific market niche that seeks to capture an audience that is also very specific and that arranges its content in a very optimized way for monetization.
They are usually small in size but very well positioned in search engines. And they tend to focus on audiences with the highest possible purchase intent.
They use any form of monetization of the ones we have seen above and others to maximize the options to make money on the Internet. But they do not offer any products or services of their own.
Thus, the most common niche pages that become profitable online businesses are those based on affiliate links and ads through Google Adsense.
WordPress is perfect for managing content, for inserting ads and we have also seen some plugins for managing affiliate links. So you have a relatively easy way to start earning money online.
Nº 3- Online store as a profitable Internet business
Most of the online stores made today (2019) are developed in WordPress with the amazing free plugin Woocommerce. If WordPress is free and so is Woocommerce, you can understand that it is not difficult to get one of the most profitable businesses on the Internet if we set up an online store. But… is it really that easy?
It turns out that the combination of WordPress + Woocommerce has overtaken the rest of the competitors (Magento, Prestashop, Shopify…) precisely because of its ease of use as the main reason. In addition, it is that giving it a professional and attractive touch is also easier than ever due to the large number of woocommerce templates that already come ready to host an appetizing online store, as you can see in that linked content.
However, if you want to create a dropshipping type of online store, we recommend that you choose a good Shopify template to create your ecommerce quickly and professionally.
But, just as setting up an online store is now very simple, just because it’s within everyone’s reach doesn’t mean you’ll always get a profitable business if you set one up. It will be imperative that you have a good online marketing strategy if you want your store to go from being in a desert to the main street of a big city.
By the above simile I mean that publishing an ecommerce and waiting for customers to come to it without doing anything else is a losing thought. You will need to implement a lot of techniques to attract your target audience and increase the sales of your online store. I leave you here an article that gives us 50 actions to increase the sales of your online store.
And don’t forget, as in all other cases, you will need legal advice to do things right.
Nº4 – How to create a Marketplace with WordPress and have a profitable business on the Internet without selling your own products
A marketplace is an online store where there are several sellers. Moreover, anyone could register as a seller and sell their products there in exchange for a percentage of the sale that would go to the platform itself.
An example, to understand us, would be Amazon. But others like Ebay or Envato come to mind. All of them are marketplaces where, besides selling their own products, there are different sellers, each one with his own sales profile.
And all of them are a good example of profitable business on the Internet. Now you will see that creating a marketplace with WordPress is simple and you don’t need much investment.
But… What do I need to set up a marketplace?
Basically a marketplace is an online store, so we will need the Wocommerce plugin we talked about above. And also we will have to install one of their premium extensions called Product Vendors valued at about 80 euros.
After configuring the extension we will have an online store where we can register stores and administrators of those stores. Or we will simply configure it so that they can register themselves.
If you prefer to directly test your business idea with a ready-made template, here are a few that might work well for creating a marketplace with WordPress.
Since the products will be managed by others, both for sale and for shipment, we won’t have to make any investment in stock. So basically it will be a matter of getting as much traffic as possible to the platform to charge the maximum commission for the sales. I leave you this article by Alex where you can see 27 tricks to increase traffic on your website or blog.
Nº5 – Member-ship site or club as a profitable Internet business
It’s time for member-ship sites. Many professionals are opting for this model to create profitable businesses on the Internet. The main reason is the recurring income.
A member-ship site is nothing more than a club of members who pay an amount every few years to belong to it. Thus, the owner of one of these clubs, receives with recurrence the payment of each of the members. And in return, the members of the site receive benefits that the rest of the non-member users do not receive.
In addition, membership-sites can be content, community, product or service.
Membership-site content to create a profitable business on the network
For example, we could create a member-ship site of content in which we would publish a daily recipe and a video preparing that recipe. The associates, every day could follow the video step by step and prepare that recipe perfectly. And since in member-ship content sites the ratio of free content / premium content is very important, you could leave the recipe in text as free content, and the video step by step as paid content.
An example of a successful member-ship site that has become a profitable business on the Internet is for example Netflix, where you pay monthly for access to the videos. In this case, there is no free content, but there is economic muscle to attract the audience through other channels. Another interesting case is the Diet Doctor.
Create a profitable business on the Internet with a community membership-site
An example of a member-ship community site might be a WordPress help forum where paying members would have the right to ask questions and see any answers to their questions or not. Perhaps non-paying users could simply view the questions and answers for certain topics or levels to get an idea of whether or not they are interested in becoming a member based on the quality of that content. There are many ways to approach this, but the value will always be in the community.
Membership-site services as a profitable online business
A member-ship service site that can quickly become a profitable Internet business would be a WordPress support club where members, in exchange for their monthly fee, could receive maintenance of their websites. Logically, here we are exchanging money for services and that is less scalable. So you’ll have to fine-tune the fee prices to make it work for you.
Product membership-site, another interesting way to get a profitable business on the internet
And an example of a member-ship product site, where of course you would already need a stock, could be for example a wine club. Where members could receive a monthly box with an interesting selection of wines.
To create a member-ship site with WordPress we’ll need a plugin to restrict the content and another plugin to make the recurring charges.
Tools to create a membership-site
Except for the product, we can use full plugins such as Paid Member Ship Pro (free) or combination of plugins such as Easy Digital Downloads and its subscription fee extension (valued at about 200 ?)
And for a member-ship site of products, we could use Woocommerce + the Subcriptions extension + the Memberships extension. All for a total of about 350 euros.
There are other solutions, but I have left you the most reliable and used ones.
As for the marketing strategy, I would put more weight on content marketing because this way a more qualified and ready to convert audience will arrive. I leave you 30 very good examples about content marketing and 20 tips for your content marketing according to 3 experts.
Nº6 – Online Academy
Creating an online academy with WordPress can be a very profitable business on the Internet because the raw material is knowledge. Knowledge that you or any of your partners (and maybe your employees if you had to hire) have. You just have to organize all the information well, deliver it properly, and keep track of your students.
There are different plugins and many options to create online academies with WordPress that cover all those needs.
Nº7 – Directory
If you know a sector well and have contacts, perhaps you could think about creating a directory with WordPress. It’s going to take a lot of work and it’s not easy to monetize. But if you persist and incorporate more and more content it will end up being interesting for advertisers and can become a profitable business on the Internet.
If you did not know, a directory is simply a search engine for profiles (whether companies, professionals … etc). The profiles that people can find would be your customers who would pay to be in your listing. There could also be different plans if you want your profile to stand out from others for example.
There are many templates to create a directory in WordPress. Take a look at them and you know… if you know a sector well, cheer up!
Nº8 – Vertical Social Network
Unlike generalist social networks (like Facebook, Twitter, Youtube…) a Vertical Social Network is a niche network. That is, all members or users of the network have something in common. An interest, a hobby, a trade, a hobby…
And this, on the one hand makes them more minority but at the same time they are so focused that it has a lot of value for their users.
An example of a vertical social network would be Badoo. In this vertical social network, all users are interested in finding friendships, relationships, or whatever may arise.
Thus, these niche networks can become profitable businesses on the Internet because we can offer very specific services to our users. At the same time, we can provide sponsorships and promotions to brands and companies with a very specific audience. Whatever the business model of each vertical social network, it will almost certainly be based on this feature and the power of audience segmentation.
To create a vertical social network with WordPress we could do it with the free BuddyPress plugin for example. There are also themes or premium templates designed to host vertical social networks.
Posted inMain|Comments Off on 8 Profitable Internet Business Ideas
Before we start talking about profitable online businesses that we can create with WordPress I wanted to clarify a little more what we are going to be referring to.
When we talk about Internet businesses or online businesses, we will be referring to those designed, developed, implemented, and operated exclusively on the Internet.
It is true that many traditional businesses are now moving into the digital world. And that some of them even have more future in the Internet than in their classic model.
But today we are going to talk about pure and hardcore Internet businesses. Those that currently make the most sense in this channel.
Advantages of Internet business
Digital businesses have different characteristics or advantages that make them unique. Let’s look at some of them below.
They are easily scalable
In other words, they can grow a lot in volume and turnover if they need more resources than they initially had or if their initial needs change very little. For example, if you create an ebook, you can sell it 1 time or 100,000 times and your work will have been the same: creating the ebook. This feature is a plus for having a profitable business on the Internet.
They are off-shore businesses
By their nature, Internet businesses do not need a physical location. It’s online business. They’re online. And therefore, staff working on them can do so from any location as well. This reduces the necessary infrastructure and makes the project more agile. And both are very important points to get profitable businesses on the net.
They are easily monitored
If the term didn’t exist, I made it up. One of the great advantages of online business is that you can monitor and measure almost everything. And this, my fellow readers, gives us incredible power. The power to know the users in depth, to know where they come from, what they do in our web, if the data coincide with our forecasts… to later reach conclusions and be able to implement the necessary measures. And all of this is practically in real time and free of charge.
For any online business, tools like Google Analytics are pure gold. And once you get the hang of it, you won’t stop analyzing and measuring. Measure and you will get a more profitable business on the Internet.
If you think it’s time to learn about this topic, you might want to take a look at the Google Analytics Course here.
It requires little investment
This is not an inflexible rule, but generally, setting up an Internet business is relatively cheap. You’ll basically spend whatever it costs for the domain, server, template and plugins that we’ll be talking about shortly. And maybe the legal advice.
The need for little investment is another factor that helps to create profitable businesses on the Internet.
Yes, as you grow, you’re going to need more stuff. But you can start very basic, try the business and then grow. If it becomes a profitable business you will invest more and continue to grow. And if it doesn’t work, you will have made a mistake soon and cheaply, so it will be more painless and you will be able to start again with a different online business in a short time.
What do I need to start a profitable online business?
Here are some of the online businesses you can easily create with WordPress. In each case you will need specific tools and strategies, but first let’s see what elements they all have in common. This is the starting point for all of them.
Consistency and passion for what you do
Nine out of ten ventures fail. Lapidary. But then we’ll talk about how this failure is not as bad as it looks.
The fact is that the reasons may be many and varied, but to reduce this risk, I will now give you a hint that has to do with some of the main ones.
If you are going to jump into the pool and you are sure you want to set up an online business, the best thing is to think of something that you like and that you are good at. Both points are important. Because in order to have a profitable business on the net you will need to be constant. And to be constant you have to get rid of everything that prevents you from doing so.
If you are going to start an online business, look for an activity that you control and that you like.
You may know a lot about a sector, which would be a great strength in your SWOT, but if deep down you don’t like that sector, little by little you will stop being constant and you will end up giving up. Because, just like any other business, a digital business is going to ask for almost absolute dedication. At least until it works, grows and becomes a profitable business that provides work for others. At that point you may be able to free yourself up a little.
And that’s where the second point comes in. As the dedication is going to be very big, you have to love what you do to start every day dedicated and passionate. That way you’ll keep your consistency and focus.
So, when you go online, make sure you choose a niche that you know very well and love. This way you will start off on the right foot, ensuring you have two very important strengths.
Don’t be afraid of failure
It turns out that in Spain, failure is frowned upon. For us to fail is a very hard blow because mentally it tells us that we are not good for something. But that’s because we’re the country in the milkmaid’s story. Where traditionally you can’t stumble and fall because someone is going to tell you that you have to live with your feet on the ground and not imagine so much.
In other countries, failure is the same as trying. To the extent that it is well seen to have failed several times because it gives you experience and shows your resilience or ability to adapt and try again.
In other countries, failure is valued when it is undertaken. They show experience and residency.
Not here, here failure is equal to being a failure. And this is a great brake in our heads, a mental barrier or limiting thought (they say now) that makes us undertake with fear and therefore with more risk.
So if you are determined to start a digital business, keep in mind that you can fail, but that does not mean you are a failure. If you fail, get up, dust yourself off and try again by applying the learning from the previous blow. In the end you will get your longed-for profitable Internet business.
We’ve already talked about WordPress in the introduction. And for me, it is clear that to create profitable businesses on the Internet, before hiring programmers and creating great custom software, and being faithful to the lean method, you have to start building the business with WordPress. Now, you need to use WordPress.org not WordPress.com. I’ll leave you with this article if you want to see the difference between WordPress.org and WordPress.com.
There are many articles that talk about the differences between the two platforms, but the one that concerns us is basically that with WordPress.org you download the (free) software, install it on your server, and you can create a project of your own.
On the other hand, if you work on WordPress.com you’re simply using an online blogging platform from another company (Automatic) and neither your files nor your content will be 100% yours. It would be like creating your business on Facebook (to give you an easy example).
A hosting is nothing more than a computer that you rent and in which are the files that make your website display and function properly. That is, it’s where you install your WordPress. Only this computer is prepared and optimized for this task and always accessible on the web. This way, anyone can access your website at any time. Think of the hosting or server as the foundation of your house.
A hosting is like the foundation of a house. You need them to be strong or they will fall down
If you think like that, you’ll be clear that you can’t have a bad foundation if you want to build a big house. So it is important that when you are going to set up an online business with WordPress you have a clear idea of the type of hosting you will need. Don’t worry if you don’t have it that much at first. You may not even be able to predict the kind of growth your digital business will have yet. But it’s important to have a professional, scalable, and close to home hosting as a base. You will expand it if necessary when you have a profitable business on the Internet.
Some important features to look for are:
That it’s optimized for WordPress
Have good anti-hacking security measure
To make daily backups
To have support in Spanish (if you do not speak English)
To be located as close as possible to your area of action
Don’t let it be limited. This means that if at any time your online business grows, the server can also grow to host it without problems.
Both Aula CM and I have trusted Webempresa Hosting for years.
A template or theme
To manage the visual part of your website you will need a template, theme or topic that loads a number of styles and gives your business the look and feel.
There are countless themes of greater or lesser quality, premium, free, frameworks, custom … In the end, to decide, you have to think about where your business is online. And what knowledge do you or the person who will manage the website have.
If you are going to create an Internet business from scratch, I suggest you do it in the most readable way possible. That is, create a minimum viable product and see if the business works before investing more time and money.
Applying this logic, I don’t advise you to pay a developer to make you a custom theme from the beginning. I would tell you to search among the premium themes you can find here for one that suits your business as much as possible, implement it or pay someone to implement it and launch it as soon as possible. You’ll be able to fine-tune it when you have a profitable business on the Internet.
Don’t be fooled by the visual aspect alone. Check it out too:
That the author has created more themes or plugins
In that it has a good support
That the sales are many or are growing at a good pace
As many complaints as there may be in the comments…
Anyway, I also leave you a link to know how to choose a theme in WordPress.
Plugins to add specific features
Plugins are responsible for adding the exact functionality you need that does not come by default in WordPress.
These will depend on the functionality required by the Internet business you want to set up. So we’ll see what you need to set up your online business with WordPress in each specific case.
But first, tell you that just like the templates, here you have the option to find a plugin that does what you want and adapt to it or conversely ask a developer to make a custom plugin that fits your needs exactly.
And once again, my advice is to be as readable as possible, and until you have a profitable business on the Internet, limit yourself to adapt to a plugin that can meet your needs even if it doesn’t do it exactly as you would like.
An online marketing strategy
If you want to start an Internet business and achieve profitability, something that cannot be missing is an online marketing strategy. Like the plugins this is a common factor in any online business but depending on the business model and the type of digital business will be different in each case.
Any business is regulated by some laws. This is the same on the Internet. Sooner or later you will have to make different legal information available to your users.
It is true that you can try to do this yourself. But if you want to do business on the Internet you should not skimp on something so basic or you could get into legal trouble.
Posted inMain|Comments Off on What is an online business?
Nowadays, setting up your own business from home is much easier to achieve thanks to new technologies. More and more entrepreneurs are encouraged to create their own business, and doing so is easier than we think, and now it is within everyone’s reach. But what kind of business can you start at home? We give you some ideas that will help you to create your own business, and even have fun with it.
Before starting a home-based business
Working from home on an entrepreneurial project carries with it a huge responsibility. Maybe it’s not a job under the rules we’re used to. But we must ask ourselves several questions: is it feasible for your company and your home to be located in the same space? what expenses will be involved in adapting your family environment to the work environment? do I have the ability to do any kind of work from home? do I know someone who can help?
You must answer all these questions and know if it is possible to make your project viable before taking the step and putting the investment in.
What other aspects do you have to take into account?
Write the Business Plan that will help you define the essential aspects of your business (financing plan, marketing, sales…)
Register your own brand and create an identity.
Make sure you know all the laws so you can lay the foundation for your business.
Good practices to carry out
Keep your finances separate from your business and personal finances.
Set yourself a work schedule and respect routine. Part of the success of a business lies in being consistent with your daily work.
Create marketing campaigns from scratch; you can even start launching campaigns before you open your business to generate interest and attract the attention of future customers.
Build your team. The beginnings are hard and everyone knows it, but make sure you have a team to advise you on your business.
Benefits when starting a business at home
Of course one of the maxims that lead to entrepreneurship is passion. To be able to dedicate yourself to what you like and make it your job is an aspiration for many. This entails a series of benefits such as working for yourself and leaving behind the figure of the boss.
Another benefit is the reconciliation of family and work life in a more flexible way. Being able to work from home, set your own hours and spread out your time as you wish throughout the year are very attractive features. It is true that the responsibility you acquire is much greater so the effort invested will be greater and longer term.
In many cases, companies end up growing and becoming large leading companies in their sector. In particular, the tax advantages are usually much higher, since all those taxes that are usually paid per company and per worker are reduced.
Ideas for home based businesses
Idea nº 1.- Arts&Craft
This phenomenon is one of the great world trends and you may wonder why. Basically because it consists of turning your hobby, what you like, into your profession. If you think about it, no one will sell a product better than someone who is passionate about it. Besides, nowadays selling is very easy because you have great platforms like eBay or Amazon that can help you. Also, create a blog and an ecommerce with tools like WordPress. There are also many opportunities with alternative services where they create the corporate image of your company.
There are several possibilities of selling from home. For example, if you like sports you can offer yourself as a personal trainer. On the other hand, if you know languages, you can take classes via Skype or videoconference. In the case you like to design, your business could be selling clothes over the Internet. Or, if your passion is art, sell your paintings or projects. If you stop to think, you’ll find thousands of ideas to undertake at home.
Idea nº 2.- Dropshipping
If you’re undecided and don’t know what to sell, a good option is dropshipping. This trend consists of a retail sale where the retailer takes care of selling the product but does not own it. As a kind of intermediary. The retailer makes an agreement with the wholesaler to send the product to the end customer.
In this way the retailer is spared having the products in stock and the need to have a place to leave them. Dropshipping is simple, you only need to create a web page or virtual store where to offer the products and take care of giving the alert to the wholesaler when a customer makes a purchase.
Idea nº 3.- Buying and selling
Another business possibility to undertake at home would be buying and selling. Again, base it on what you master because it will allow you to know when and where to buy cheaply and how to attract the public that is willing to pay more for it. Basically, it’s about doing the same as any buy-sell business but from home. You can buy cheap using tools like Wallapop, second hand. Then you can sell them on these or other platforms like eBay. It is only important to have a good eye and to know very well the niche you are going to dedicate yourself to.
Idea nº 4.- Housework
There are people who don’t have time to cook, clean, go shopping. Therefore, a good business could be to offer them these kinds of services. A good idea would be to create a website where people who do not have a job or can only work a few hours can offer their services, and at the same time, others with a lack of time can have extra help.
For example, there is a website, Deliberry, that is dedicated to doing the shopping for you. Another option could be a website where people who know how to cook can offer to do catering or prepare tuppers and take them home, and so many people who due to lack of time cannot prepare their own food would have an option to eat well and varied every day for a modest price.
Idea nº 5.- Importing products
Being attentive to trends, identifying a market trend in another country and anticipating it before it reaches yours, or simply looking for novelty items that you might like and selling them, can be a good idea to set up a simple and profitable business from home.
To begin with, you should look for a market niche and try to specialize, at least initially, in a sector, product or country. Create an online store, always be aware of trends to find the right product, buy it and sell it. You could also think about exporting products from here to abroad, especially those that are exclusive and cannot be bought anywhere else.
To find what you want to buy you can also dig into the great Chinese online market that is Alibaba.
Above all, try to find products that may have been shipped from other countries that have not yet arrived here.
Idea nº 6.- Youtuber/ Influencer
This professional figure is gaining more and more ground. In Spain there are many people who use their knowledge and skills to earn money. What does it mean to be a youtuber? Sharing self-made videos, on the Youtube platform, where you see that person doing something interesting for a specific audience.
From youtubers you can find from those who show how they play a video game, those who tell jokes or more humorous, to those who make tutorials of all kinds of things, it can be beauty, combination of clothes, among others. So you know, if you have a skill that stands out from the rest, upload your video to Youtube, promote yourself and start making money. In short, it’s all about finding out if your passion can get enough interest to turn it into a business.
Youtubers are really influencers, just like the content creators on Instagram or TikTok. Take a look at this article where we give you the keys to answer the question that many young people are asking today: How to be an influencer?
Idea nº 7.- Design sales
Do you know how to design? Then sell your designs online and start your business. You have several possibilities such as printing T-shirts, backpacks, shoes with your own designs and, at the same time, set the trend.
You can start by promoting yourself little by little and sell your designs through other platforms. Over time, you can create an online store and offer your products from there. If they are unique and you like them, you will soon have a niche market.
Idea nº 8.- Blogger
If you can write and are innovative, a good way to open yourself up to the world of work is to become a blogger. You can create your own blog or participate in others to gain an audience.
You can get in touch with other bloggers, and in this way collaborate. They write for you and you write for them, so you can reach a wider audience. But if you want to stand out, you must be original, creative and contribute new knowledge. In addition, promote yourself on social networks and get a site on the Internet.
Idea nº 9.-Extra Bonus
The funniest thing is that not only can you apply just one of these tips, but ideally you can combine your passion or hobby with several of the ideas for entrepreneurship at home outlined above. Creating a blog about your hobby will be a key tactic in attracting an audience to sell your work. If you are more daring, go ahead and create a Youtube channel.
And surely in all cases you will want to sell through your own store, so you will also have to install an e-commerce application on your blog with one of these plugins for your ecommerce.
If you are still not clear about what business to undertake from home, these are just some of the ideas you could undertake. Specializing in some sector is always good, because the market is very competitive and to stand out in some field will open many doors when it comes to starting your business.
Posted inMain|Comments Off on Setting up your own business from home
I present you the complete guide to start a business, a summary of the articles that I have published in the last weeks in the blog about the most important aspects and the processes that you need to know if you want to know how to start a business. This guide takes one by one the steps analyzed, with a brief summary of each point and a link to the detailed article in the title of the section. I hope it can be very helpful to you.
1º- Finding the idea to start a business
First you have to know that an idea is not worth anything. What matters is the implementation, that is to say how it is put into practice, something that depends mainly on the team in charge of the project.
A good idea has to respond to a real need, and provide this little extra thing that a customer is willing to pay. In other words, that it has a potential for profitability.
It is highly recommended that your idea fits in with what you know how to do (to be effective and innovative) and that it is something that you like (I would even say more, that you are passionate about), because you are going to spend a lot of time working on it.
2º- Search for entrepreneurial partners
Or how to start a business in good company. You have every right to want to start a business alone, but finding partners has many advantages, especially to complete your profile in aspects that you do not control (management or commercial facet, technical facet, etc.)
If you choose to work in a team, be careful to look for people who share your business objectives, your values and in whom you can trust. And don’t think that friends are always good partners. The professional environment is governed by other priorities.
3º- The business model
The design of your company’s business model is a fundamental stage. It’s about turning your idea into a process that generates revenue and profits, in other words: how you create value.
I recommend you to read the detailed article, in which I give you some definitions of the concept, I talk about the Business Model Canvas (so fashionable lately), I insist on the most important elements of the design of your model and I give you some examples of successful systems.
4º- How to get funding
The initial investment is usually one of the main brakes when you want to start a business. Getting financing can be a bit complicated, and to help you, I have prepared an article that details the different models (internal financing, debt financing, equity financing or grants and donations) as well as the main actors that can provide money (entrepreneur, friends and family, crowdfunding, commercial banking, public banking and guarantee companies, venture capital firms, business angels).
5º- How to convince an investor or a bank
Knowing how to set up a company has a lot to do with learning how to “sell” your project to others. If the previous article explains where you can go to find the money needed to finance your project, in this one I make some recommendations to succeed in your applications.
I explain the importance of preparing a business plan to have clear all aspects of your project. It is also essential that you take care of the form as well as the content, giving a professional image at all times and speaking in the present better than in the conditional. Another point in favor is that you invest your own money, even if you have little.
I also detail the differences between talking to a banker (who only lends you money and wants to make sure you will pay back the principal and pay the interest) and talking to an investor, whose objective is to maximize the return on his investment. In the latter case, you will have to be very careful from the beginning about the conditions of the collaboration with your capitalist partner.
6º- How to get clients
In reality, and although I have put it in the sixth section of the guide, getting customers is what comes immediately after having defined the idea and the business model. Having convinced a few consumers to buy your product or service is the best weapon to convince potential investors.
In this article I will insist on the importance of being patient and persistent, and of taking everything as a game, with some techniques that I will detail. When you have caught your prey, you will still have to convince them, and you will need some of the advice I have prepared for you.
Finally, I think it is essential that you organize a follow-up of the effectiveness of your business activity. A common mistake is to spend a lot of energy on methods that don’t work, when a few adjustments can totally change your results.
7º- Self-employed or society? The choice of legal form
In Spain, the future entrepreneur faces sooner or later the doubt of starting as an individual entrepreneur (self-employed) or setting up a company. I have prepared an article that reviews the advantages and disadvantages of each legal form according to various criteria: administrative simplicity, limited liability, tax advantages and the aspect of the transfer of capital.
As you can imagine, there is no fixed answer. Depending on the type of business, one form or the other will suit you better.
8º- Choose the name of the company
For some businesses, it is a fundamental choice, for others, it has a more limited importance but the name of your company is usually the first thing that your future clients and the rest of your business partners see, and therefore it is always wise to stop for a while to reflect on what you are going to call your company.
You will want to find a short name, easy to remember, positive, if possible to reveal what your value proposition is and not be confused with other brands or have strange meanings in other languages.
In the article we tell you in detail about several clues to find a good name for your company.
9º- Hiring an employee
In my opinion, hiring the first employee is one of the most significant and enriching moments in the process of setting up a business, as well as closing the first sale or making the first profit.
In this article I detail how to choose the right person for the right position, how to measure the profitability of a recruitment, and I explain both the various administrative steps you have to take as well as the benefits you can benefit from.
10º- Finding a location
Maybe your business is open to the public, or maybe you can perfectly work from home. In either case, you’ll have to consider the location of your workplace.
I will give you some recommendations depending on the type of your business (for example, if you have a store, location is a key factor), and I will also give you some hints regarding the administrative aspects (the famous opening license).
The conclusion is a small analysis of the different types of owners you may come across when negotiating a rent for your premises.
11º- How to find suppliers
You would be very wrong if you simply thought that with the entrepreneurial partners, the customers and the employees you have defined the most important actors to make a business. Your suppliers are also very significant third parties, and some of them become strategic, so you have to take special care in choosing them.
I explain you where you can find these partners, and also give you some criteria to compare the different companies that can attract your attention. Price is not everything. When you have found someone to work with, and before you sign, it will be worthwhile to review some important aspects.
12º- The most common mistakes made by entrepreneurs
Before launching yourself, I recommend that you go over this list of very common mistakes to know how to start a business avoiding falling into the most known traps. Knowing these common mistakes will give you more options to succeed. Because I assure you that business life will face you with many more difficulties that do not appear on the list.
Things like starting a business in a sector where you have no experience, falling in love with your idea, wanting to start big, losing focus, not planning or not being reactive can lead to the failure of a project that might otherwise have worked. I have listed up to 16 common mistakes.
13º- Reasons for setting up a business
It could have been the first article in the guide, but I wanted to put it towards the end as an interesting reflection on your motivations for entrepreneurship. Some reasons make sense and others are big mistakes. I recommend you read this article to make sure you are really clear about what you want to achieve.
14º- You have set up your business. Now what?
If you have passed all the steps detailed in this guide, it means that you have a company in order. But that was just the beginning, the easy part of the adventure. Now you have to consolidate your project.
Keep looking for customers, keep the focus, build your company’s image day by day, learn to rest and get perspective, measure your results, surround yourself with positive people and other entrepreneurs, look for systems to automate tasks and above all, always keep the customer experience at the heart of all your decisions.
Posted inMain|Comments Off on Setting up a business: a step-by-step guide