As a Banker, you understand money. You understand accounting, finance and investing. But when it comes to side hustles, are you truly familiar with the side business opportunities out there?
My name is Anand and I worked for various corporate and investment banks in my career during my near 20 year career. I worked in Trading, Risk and Consulting within Financial Services so I can understand where you’re coming from. I have various side hustles, ranging from real estate to online businesses.
I get it – even though most Bankers are on high salaries, that usually means high living expenses such as:
Mortgage
School fees
Dependencies
Credit card and loans
Car payments
Insurance
Leisure and vacation
Also these days, banks are just not as reliable as most people think. Jobs are not secure, so it makes sense to look to create multiple sources of income.
I want to go through 9 profitableside business ideas for Bankers in 2023, give you the pros and cons and point you to the best resources on getting started.
For Bankers (and other people working long hours in the financial industry), any side business you’d want to start should need minimal ongoing input of your time and money.
Of course, there will be an initial set up time and cost, but you don’t really want to commit significant time during the day on that business – especially when you have your 8am to 8pm job!
This post is also useful for people who work in the financial industry in general.
1. Day Trading
These days, you can start open up a brokerage account with many companies like eToro and Plus500 and start using their trading platforms.
The platforms can be quite sophisticated and have more than enough tools for you to trade during the day. You can trade in stocks, FX, commodities or crypto – for as little as $10 initial capital. Most trading platforms are also regulated.
From my experience of trading, it’s so important to have your strategy (which should include risk management) and stick with it!
Also, with day trading – you are the one placing the trades, so you have to know your entries and exits. This requires planning and researching the markets prior to start of trading day.
It’s an option, but not if you’re already super busy working long hours.
PROS
CONS
You understand markets
Requires a strict mindset
You understand price action
Time spent researching stocks and markets
Can set up with minimal capital
Time spent monitoring price activity and news
2. Algorithmic Trading
There are a growing number of companies that let you use their proprietary trading algorithm tools – for a fee/subscription. Auvoria Prime is one that I used in the past.
With algorithmic trading or ‘copy-trading’, you deposit a certain amount (usually at least $5000) of trading capital and then let the ‘algo’ trade on your behalf. It places trades, manages and exits the trade (based on default strategy settings, or your own customization).
Ideally, look for a company with a long history of results with their strategy – like CashFX.
Also be wary of company’s that promise high daily returns or ‘guaranteed profit’, as algos are not perfect and losses (something large) can occur.
Algorithmic trading is great if you want a ‘hands-off’ way of earning money. Consider it passive income, but you really don’t want to commit large amounts of money until you’re confident with the results.
PROS
CONS
Little involvement by you
Not your ‘asset’
Can customize risk and return parameters
Not all providers are reliable, and withdrawals may take longer
Algo can break down in times of market turmoil (large losses!)
3. Finance Blogging
If you have a lot to share, blogging or article writing is a great way.
Blogging is especially great if you like writing and your chosen subject requires a detailed explanation.
The great thing with blogging is anyone can do it, and it’s a low-cost option. These days you can set up a website quickly, easily and cheaply.
Also, you can become an authority in your subject matter. Perhaps it’s a niche subject or area of Finance that not many people know about. Consider this blog by ex-Banker Financial Samurai who has become known as a guru in personal finance.
Within your blog, you can even promote other related online products and services. This is known as affiliate marketing, and if the reader clicks on that product and makes a purchase – you get a commission.
PROS
CONS
Subject matter expert
Requires a lot of your time to research and draft the article (including optimizing for SEO)
Allows you to ‘plug’ other products
May need to update the blog (at least annually) if statistics are involved
Your asset
Can take time to rank on Google
Low cost (just have to pay domain hosting and web design package)
4. Online Course
Creating an online course is another side business idea for Bankers in 2023. If you have a specialism, and feel more people can benefit from this knowledge – then why not create an online course?
Courses are easy to create (see Kajabi) and if you can help people solve a problem, then your course stands to do well.
You may even find that your blog articles can be used as material for your course. The great thing about an online course is that you just have to build it once, market it, and make recurring income from course sales.
PROS
CONS
Create a product based on your niche knowledge
Subscription cost to course platform provider
Your asset
Initial time spent researching and producing the course
Create once
Allows for scaling
5. Online Consulting
While a course is a one-to-many solution, you may feel that one-to-one consulting suits your offer better.
Perhaps you can guide someone on how to achieve a certain result, for example helping college students get into Banking.
Or maybe consult someone on how to raise capital – if this is something you did in your Banking job.
PROS
CONS
Provide one-to-one or group consulting services in your niche area
Requires commitment of your time
Clients willing to pay highly for your time
Hard to scale
6. Investment Management
There are a lot of people with surplus cash interested in investing their money, but don’t have the right guidance or expertise. Or maybe they’ve been burnt in the past!
You can offer them advice on how best to invest their money to meet their needs. This might be for growth, capital preservation, regular income or to pay kid’s college fees in the future.
Just ensure that you have disclosed your side business to your employers. Giving investment advice can be considered as a conflict of interest to your employer’s clients.
PROS
CONS
Put your insight and expertise to helping people
Requires commitment of your time
Opportunity to be competitive and charge less fees than traditional investment managers
May have to obtain additional certifications to handle client assets
Potential conflict with work
7. Property Investment
Property investment models include rentals (buy-to-lets) and flipping (developing). However, the method you choose depends on your available capital, local market conditions and access to reliable contractors (in the case of flipping).
Investing in property is great in the long term, but for your first few deals it helps to have liquid cash to place a deposit.
Of course, you have to wary of costs like taxes, insurance, service charges and unexpected maintenance costs.
pros
cons
Real estate generally goes up long term
Requires large capital outlay
Physical asset
Have to budget for taxes, service charges, maintenance expenses
Can leverage equity to acquire more properties
Consider appropriate strategy based on market cycle
8. E-Commerce
An increasing number of physical products are bought online. Amazon is the largest marketplace seller in the world, bringing in more than $600bn of sales in 2022.
If you have a product idea that you want to develop and sell online, then Amazon is your best bet.
The great thing with e-commerce is that you can customize a product to your preference and with your brand logo. Of course, a lot of market research will need to be done as with any product to determine demand, price, and competition. But the ability to scale is superb with Amazon.
PROS
CONS
Amazon has a huge share in e-commerce market
Time researching a product
Range of products to customize and sell on a trusted platform.
May have to commit to a minimum order quantity (‘MOQ’) with the supplier when testing a product
Can scale easily
Margins have become increasingly tight
Certain niches are very competitive
9. Affiliate Marketing
If you’re looking for a business model where you have a ready-made product, logistics and operations already in place – then affiliate marketing is perfect.
You essentially act as ‘affiliate’ for a company, promoted and selling their products. For every sale made of that product (via your unique affiliate link), you receive a commission. In some cases, commission can be up to 90% of the sale price.
You can market products through your own website, your social media, email list or just through word of mouth.
If someone is looking to start a business online around their day-job, then I would always recommend affiliate marketing. Most companies and brands offer an affiliate program for their products, and joining their affiliate program is generally free too.
PROS
CONS
You act as the middle man
Little control over pricing, features and customer experience
No need to worry about fulfilment, customer service, etc
Margins are attractive
Can scale easily
Conclusion
In this post, I shared with you 9 profitable side business ideas for Bankers. Considering you have little time during the day to set up a business and run it, I listed those ideas I felt were best suited to you.
In conclusion, I’d say affiliate marketing is a great model to get up and running very quickly and requires minimal supervision.
It is considered a ‘hands-off’ business model, and once your metrics are positive – then the business can be scaled.
If you’re looking for detailed guidance on how to start and run an affiliate marketing business, including how to best promote a product – then check out this free workshop below:
https://anandgiani.com/wp-content/uploads/2023/05/banker-stressed.jpg506505Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-05-22 12:22:452023-05-22 12:22:489 Profitable Side Business ideas For Bankers (2023)
Do you find you don’t have time for anything? Not enough hours in the day?
Is your time spent on everyone and everything except yourself?
Do you have time to eat? Do you have time to go to the toilet?
It probably feels like you’re just always playing catch-up.
I get it. I really do.
At one point, I was juggling 2 little kids, a 9-to-5 job, commuting, an online business, kids activities, football coaching and a wife.
I remember thinking that in the US and UK, we work long hours – pay huge taxes and have no time for ourselves. But over the years I’ve become much better at managing my time. Here’s how:
Time Inventory
We all have 24 hours in the day. This is how the typical American spends their time:
This might not be what YOUR time split looks like, but it’s so important to see where your time is going.
Write it down.
Are your hours towards your job? Are you sleeping too much?
Are you spending a lot of time on housework or kids activities?
Make a list of your typical work-day and get detailed!
For example,
Sleep – 6
Getting ready – 0.5
Commuting – 2.5
Work (inc. emails) – 8
Gym – 1
Cleaning – 0.5
Eating – 1.5
Social media – 2
Netflix – 2.5
This will give you an idea of where you can save time.
Sleep Schedule
I know this sounds obvious, but it really helps. I understand that you probably feel drained and need the extra sleep.
Or you feel that you have to catch up with everything you missed during the day, i.e. emails, texts, Netflix series, etc.
We need 8hrs sleep on average to be fully functional. How many hours are you getting?
Try sleeping at 10pm and wake up at 6am, for example.
Get a sleep tracker like SleepScore or Sleep Cycle which allows you to check how much quality sleep you’re getting!
Reduce Screen Time
You should try to reduce your screen time at night. Scientific research shows that you shouldn’t look at phones/laptops (or anything else emitting blue light) an hour before going to bed.
That’s because excessive blue light impacts upon your dopamine receptors, giving you that addictive feeling you get with drugs!
I know, this is hard for a lot of people – but at first try reducing screen time.
Also if you’re scrolling through social media, it’s so easy to lose track of time! 5 minutes becomes 10 minutes – which becomes 20, 30mins, etc. I’ve been there.
You can also track your phone usage both in the phone settings itself and in the social media options.
Prioritize!
The night before, write down the tasks you want to complete the next day. Then rank the tasks (1, 2, 3…) in the following ways.
Type of tasks –
Research has shown that we are best at completing logical and process oriented tasks before 12pm, and creative work after 12pm.
So tasks such as spreadsheet analysis, accounting, data entry, etc should be prioritized for the morning. Tasks such as writing, content-creation, idea generation and brainstorming should be prioritized for the afternoon.
Importance –
If most of your tasks are logic/process oriented, then rank the tasks according to urgency. I find that if I wake early and get those urgent and important tasks done first – then I get that sense of accomplishment knowing that those key tasks has been completed.
I then have the flexibility to work on other projects, focus on my mind and body or spend more time with friends and family.
Once you learn to prioritize tasks the day before and make it a habit – your brain doesn’t have to spend time making deciding what to focus on the next day.
Decision making is cognitively taxing, so avoid unnecessary decision making. That includes what clothes you will wear or what route you will take.
Avoid as much decision making as possible, by planning such things that night before.
Leverage
The average US person works 37.3 weeks a year. That’s 72% of the year.
Everhour.com (Average Working Hours: Breakdown by Countries [2023 Update] (everhour.com))
That doesn’t leave much time for everything else in your life.
If your time is limited, then how about leveraging your money? That means delegating or outsourcing tasks that you normally do – but to someone else?
Such tasks could be cooking, cleaning, school runs, side hustle projects.
Can you hire a cleaner?
Can you hire someone to cook a couple of meals each week?
Can you get someone to maintain your accounts and file your tax return?
Can you use freelancing sites such as Upwork and Fiverr to outsource things like web design, advertising, email copy, etc?
What’s Your Time Worth?
There’s a concept called Income Generating Value (IGV). This is calculated as:
Total Income (for the week) divided by Total Hours worked (for the week)
You can calculate your own IGV by assessing your weekly income (from all sources), and then divided by the actual time you worked in that week (in hours).
If your IGV comes to $20/hr say, then that means you should look to take on tasks that help to increase your IGV, and reject or outsource those tasks that take too long, or do not add to your income, i.e. lower your IGV.
For example, if you need to build a website but find it too long and time-consuming – you are better off outsourcing that task and focusing your time on improving your current IGV with income-generating tasks.
So calculate your own IGV, and then assess which tasks/processes you carry out during the week that could be moved on, automated or outsourced to free up your time. Once you free up your time, i.e. 1 hr – you can use that hour to focus on revenue-generating or important tasks that would hopefully increase your IGV.
Alternatives To Your Job
If your job takes up most of your time, ask yourself – is it really serving you?
Do you enjoy your job?
Is it worth the time you sacrifice?
Can you do something else that would consume less of your day and earn you more?
If you have a particular skill or niche that you specialize it – have you considered freelancing? This is where you provide a service in return for income. Upwork and Fiverr and great freelancing sites where you can post your services.
However, freelancing still requires an input of your time and effort in return for an income. In that sense it is capped income.
What about other online business models like affiliate marketing or ecommerce?
These are examples of leveraged business models, where you don’t have to ‘oversee’ a sale. In that sense, your time is leveraged.
Set the system up once and it runs on auto-pilot. 24hrs a day, 7 days a week.
It is important to remember that with an online income, you don’t have to be ‘logged-in’ or online yourself for a sale to occur. Once my funnel are set up – there is no involvement from me.
I’ve been pleasantly surprised when I’ve checked my phone to see that I’ve made a sale. And I could be doing anything during my day.
I could be at the gym or eating breakfast. I suddenly have much more time in the day.
I’m living my life. This is known as the modern wealthy way:
https://anandgiani.com/wp-content/uploads/2023/05/busy.jpg7681024Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-05-17 10:37:492023-05-17 13:16:09No Time For Anything? 7 Solutions To Create More Time Now!
The digital revolution has opened up a world of opportunities for individuals looking to earn an income from the comfort of their own homes. With the rise of the internet, there are now numerous ways to make real money online. Whether you’re looking to supplement your income or replace it entirely, this article will explore some of the best and most effective ways to make money online from home.
How can I make $100 a day online?
While making $100 a day online may seem like a daunting task, it’s achievable with the right strategy and approach. Here are some proven methods for making $100 a day online:
Online Surveys: Participating in online surveys is a simple and convenient way to earn money. Many companies are willing to pay for your opinions, and there are plenty of websites that pay for completing surveys. Some popular sites include Swagbucks (https://www.swagbucks.com/), Survey Junkie (https://www.surveyjunkie.com/), and Vindale Research (https://www.vindale.com/).
E-commerce Platforms: Selling goods or services on platforms like eBay (https://www.ebay.com/) or Etsy (https://www.etsy.com/) is a great way to earn money from home. Whether you’re selling handmade or unique items, there’s a market for just about anything on these platforms.
Affiliate Marketing: Partnering with companies and promoting their products on your website or social media channels in exchange for a commission on sales is a great way to make money online! Check out this article on affiliate marketing and how it works. A popular affiliate marketing platform is Amazon Associates (https://affiliate-program.amazon.com/). Modern Wealthy is the program I used to build my affiliate business and highly recommend it!
Dropshipping: This is a low-risk method of starting an online store without holding any inventory. You simply partner with a supplier and sell their products directly to consumers. Shopify (https://www.shopify.com/) offers a comprehensive guide to starting a dropshipping business.
Freelance Work: If you have a skill or talent, such as writing, graphic design, or web development, you can offer your services on platforms like Fiverr (https://www.fiverr.com/) or Upwork (https://www.upwork.com/) and earn money from home.
How can I make real money online?
If you’re looking to turn your online earnings into a steady and reliable income, consider the following methods:
Blogging or YouTube Channel: By starting a blog or YouTube channel and monetizing it through advertising and affiliate marketing, you can share your expertise or passion with the world and earn money from it. To get started with blogging, consider using platforms like WordPress (https://wordpress.com/), and for YouTube, check out the YouTube Partner Program (https://www.youtube.com/partner).
Online Courses: Sharing your knowledge and skills through online courses is a great way to make real money online. From teaching a language to sharing your marketing expertise, there’s a market for just about any skill. Consider using platforms like Udemy (https://www.udemy.com/), Coursera (https://www.coursera.org/), or Skillshare (https://www.skillshare.com/) to create and sell your courses.
Investing: Investing in stocks, cryptocurrency, or other forms of online investment is a great way to diversify your income streams and make real money online. Consider using platforms like Robinhood (https://robinhood.com
In conclusion, making money online from home has never been easier. With the rise of the internet, there are countless opportunities for individuals to supplement or replace their income with online work. Whether you’re looking to make $100 a day or build a steady income stream, there’s a method for everyone.
From online surveys to e-commerce platforms, freelance work to online courses, there are many ways to turn your skills and expertise into real money.
The key is to find what works best for you and pursue it with dedication and hard work. Good luck on your journey to financial freedom!
https://anandgiani.com/wp-content/uploads/2023/02/make-money-home.jpg7011198Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-05-15 14:16:142023-05-15 14:16:15Maximizing Your Earnings: A Guide to Making Money Online from Home
Yes, there are a lot of gimmicks out there and false promises, but Modern Wealthy is not one of those. It is online business education program that offers training, tools, mentoring and support.
Let me break it down for you.
Pros
Long running online business education program.
History of helping people create online side incomes (through affiliate marketing, ecommerce, coaching, digital marketing strategies).
Ideal for students with no prior online business experience.
User friendly and in-depth online business training.
Excellent technical and strategic support.
Regular investment/improvement in the program.
Cons
Patience needed.
May require upgrading to advanced packages if people require additional support.
May need to set aside budget for paid marketing – if that’s the strategy you decide to follow.
‘Modern Wealthy’ is an online business training and support program that helps people to create a side income, and the type of life they desire.
I am one of those people so I can confidently explain what is involved. It does this by offering a combination of education and online business tools.
It is NOT a get rich quick scheme., and nor does it promise that students can get rich quick.
Modern Wealthy (launched in 2022) is part of the LaunchYou company that was founded by Stuart Ross and Jay Kubassek. The program (previously ‘Six Figure Mentors’) has been around since 2009.
Modern Wealthy aims to help members understand the principle of Authority Marketing. This is the unique philosophy that binds all successful online entrepreneurs. Students will then apply the concept of authority marketing when building their own online businesses.
Anyone who is serious on creating alternative streams of income to live the life they desire.
For the most part, that’s a life with no geographic ties, no boss and more choices.
This would suit a corporate 9-to-5 professional who wants to quit their job eventually, or for a stay at home mum who needs more income.
But to get detailed, it’s more people who have are:
Willing to be educated on online business topics
Not looking for a get-rich quick scheme
Willing to spend money on paid ads (if not going for content creation and organic marketing)
Willing to ask for help from the Modern Wealthy support team and community
What Is Included In Modern Wealthy?
There are 6 main features in the Modern Wealthy program:
7-Day Training Videos (the core training program)
180 page ‘Authority Marketing Secrets of the Modern Wealthy’ Ebook
Access to the Modern Wealthy Facebook Group
Affiliate marketing 101
Ecom 101
Free Vision Call with an online business consultant
Modern Wealthy introduction page:
Dashboard:
‘Authority Marketing Secrets of the Modern Wealthy’ E-book:
Cost of Modern Wealthy
Modern Wealthy costs $37. This is fully refundable within 30 days.
Modern Wealthy includes detailed training by Stuart Ross and guidance from his Business Consultants, but should you wish to get further expert assistance with your online business there are additional ‘done-with-you’ and ‘done-for-you’ optional packages offered.
I used paid advertising and within 3 months, I made my first sale online and then continued to follow the guidance provided in the weekly live training. I was then able to reach a four-figure monthly income after another 5 months.
I also learnt how to build websites, learnt paid marketing and create content online.
In short – the online business training program was successful for me.
However this is my result and is not indicative of your results.
Is Modern Wealthy A Scam?
A scam is defined as a dishonest or fraudulent scheme. This is not one of those things.
I was able to use the training program to create an online affiliate business and generate genuine sales and income. If you don’t have your own idea or product – you can even promote LaunchYou’s products as an affiliate.
And yes, they pay your affiliate income to you every month – without fail.
Here is a screenshot of an email notification showing the sale of an affiliate product:
So I do not consider the program to be a scam. There is an actual product – which is an online business education course.
Who is Stuart Ross?
Stuart Ross is an online entrepreneur who founded and runs LaunchYou – a company that helps individuals create an online income. Stuart has been an online business education course provider for over 10 years.
He started his career as a real estate agent but became stressed out and realized that the traditional 9-to-5 route didn’t serve him.
He has since created many brands, including ‘Digital Business Lounge’ and ‘Six Figure Mentors’ which aim to supports individuals looking to create alternative income streams. Modern Wealthy and LaunchYou was launched in 2022.
Modern Wealthy Testimonials
Dan:
Landria:
Tim:
Other Options
Modern Wealthy is an all-encompassing online business education platform that provides training, tools and support.
But there are other platforms out there that also specialize in affiliate marketing and have a range of products and offers:
1. Amazon Associates
Amazon is one of the biggest and most well-known e-commerce companies in the world, and their affiliate program, Amazon Associates, is just as popular. With Amazon Associates, you can earn up to 10% in commissions on eligible products that you promote. One of the great things about Amazon Associates is the wide range of products available, including books, electronics, clothing, and more. Plus, their cookie duration is 90 days, giving you plenty of time to earn commissions on referred sales.
Pros
Amazon brand is known world-wide
Cons
Low commission rate
Little or no education
2. WarriorPlus
WarriorPlus is an online marketplace for buying and selling affiliate marketing software and courses.
Pros
Free to join
Cons
A lot of ‘get rich quick’, ‘push button’ type products
Low quality products where getting a refund is not easy
3. ShareASale
ShareASale is an affiliate network that allows you to promote products from a wide range of merchants. With ShareASale, you can earn commissions of up to 35% on sales made through your referral link. They also have a large selection of merchants in a variety of niches, making it easy to find products that align with your own interests and audience.
Pros
Can earn money from new lead signups or sales
Multiple merchants and products
Customizable affiliate links
Cons
Payout threshold is high
Can’t use Paypal
Merchant programs can disappear without warning
4. CJ Affiliate
CJ Affiliate, formerly known as Commission Junction, is another popular affiliate network with a wide range of merchants and products. With CJ Affiliate, you can earn commissions of up to 8% on sales made through your referral link. They also have a long cookie duration of 60 days, giving you plenty of time to earn commissions on referred sales.
Pros
Long cookie duration
Big brand names for you to promote
Plenty of support
Cons
Education is low quality
5. ClickBank
ClickBank is a popular affiliate network that offers products in a wide range of niches, including health and wellness, personal development, and more. With ClickBank, you can earn commissions of up to 75% on sales made through your referral link. They also have a long cookie duration of 60 days, giving you plenty of time to earn commissions on referred sales.
Pros
Free to sign up
High affiliate commissions
Large range of niches and products
Cons
Very competitive
A lot of low quality products
Pay expensive fees if your account is dormant for too long
Education not as in-depth as other programs
You can even search for a brand that you love using, and in Google type ‘xyz affiliate scheme’. This will take you to the company’s affiliate page where you can sign up, and start promoting the product and earning commission when you make a sale.
Of course, not all brands will offer the marketing tools you need or even a reliable support team.
Are you set up for success?
In conclusion, I would say Modern Wealthy is a great resource for starting your online business journey, and is definitely not a scam.
It helps individuals to get started even if they don’t have their own product or prior online experience. They do this by providing the training, guidance, tools and support. Check out this behind the scenes video:
However – I do feel that your success depends on you.
Not training or tactics, but your mindset. For example, how open minded are you? Are you willing to be patient? Are you willing to reach out for help and guidance? Do you get distracted by shiny, new things?
You can be successful with the Modern Wealthy program – but you have to work on your inner game first. Are you set up to succeed?
Make no mistake. If you’re an aspiring affiliate marketer and want to make sales effectively – what determines how well your funnel does, is what you communicate and how well you communicate it.
I want to introduce you to this 28 min video on Authority Marketing and how it explains why people succeed with affiliate marketing, and why some people don’t succeed.
If you are serious about starting your online business, check it out this free Workshop:
https://anandgiani.com/wp-content/uploads/2023/05/Modern-wealthy-way.jpg5101042Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-05-11 11:29:182023-05-16 11:24:15Is Modern Wealthy A Scam (2023)?
As an ex-corporate employee who quit his job after using Affiliate Marketing, it just makes sense that more people – especially beginners learn exactly what is Affiliate Marketing and how does it work.
I want to explain to youwhat exactly is affiliate marketing and how it works.
I firmly believe that affiliate marketing is a great online business model if you’re working in a full time job and have other priorities such as family. Once you get an affiliate business up and running – it is very much hands-off.
Many people have asked me recently how the process of affiliate marketing works, and how to get set up and start making sales online. I’m going to explain everything you need, specifically:
What is affiliate marketing and how does it work? Well, it’s very simple.
Affiliate marketing is where you promote and sell other company’s products to earn a commission.
You basically partner with brands and promote their products to your audience, earning a commission on sales made through your unique referral link. Affiliate marketing is a great way to earn an income around your job – especially if you don’t have your own product or service!
You simply leverage an existing company’s products and go out and market that product. The company may even provide the marketing assets for you. On top of that, the company will deal with customer enquiries, refunds, fulfilment, etc, so you don’t have to! So essentially, it’s a ready-made business which you have to market.
I am currently an affiliate marketer for four brands, and it was my first online business model in 2019 while working in my 9-to-5 corporate job.
When it comes to affiliate marketing, you really want to market a product you have used before and would happily recommend it to others. If you want help getting started with your own affiliate business – check out the same training that I used as a beginner. It’s still hands-down one of the best affiliate training programs out there.
Here are the basic steps to become an affiliate for a brand:
Step 1 – Find a product, service or brand you use. Simply type in Google a product/brand followed by “affiliate program”. Check out the example below:
Step 2 – If that brand has an affiliate program, you will see the search result for it’s affiliate page:
Step 3 – Sign up for free:
Step 4 – Start sharing your unique affiliate link with your friends, family, social media followers, email list, etc. If someone clicks on the link and purchases the product, then you receive a % of the sale price.
Not all brands will have an affiliate program. Some brands may also name their program differently, i.e. ‘associate program’ or ‘members’.
Benefits of Affiliate Marketing
I firmly believe that affiliate marketing is the best online business model for beginners. It was for me in 2019 when I didn’t have my own product, service or offering!
Here are the benefits of affiliate marketing:
+ Low risk
There’s no huge capital outlay required. Your only sizeable expense will be paid advertising if you choose to go down that route. It’s great for beginners, especially those in full time jobs – who initially want to use affiliate marketing to build a side income around their jobs.
+ Scalable
Considering the size of your audience size for your particular niche, scaling is very possible with affiliate marketing. Depending on your income per product sold, you can go from 3 figures/month to over 5 months/month.
+ Focus on marketing
You only have to focus on marketing to new customers, with fulfilment, returns and customer complaints handled by the company.
+ No holding of stock
If you’re an affiliate marketer for a physical product, you don’t need to hold stock. This is done by the company who will deliver the product to the customer directly.
+ Time leverage
By utilizing available online platforms, you can earn income from sales 24/7. The tools and platforms available online mean that you don’t have to be there to oversee a sale. It can all be done on auto-pilot. For this reason, affiliate marketing is an example of a ‘leveraged’ strategy because the model frees up your time to focus on other things or live your life!
That means earning income in your sleep! If you’ve set up a winning funnel, sometimes there is very little input required by yourself. Compare this to traditional ‘9-to’5’ jobs where you have to commit x time to earn y salary.
+ Multiple affiliate businesses
You can be an affiliate for multiple products within the same company you are an affiliate for. That’s because you can refer your existing customers to other, more expensive products within the company.
The advantage of starting an affiliate business is that you learn how to market a product. So once you market one product successfully, you can then go on to build affiliate income from other products!
+ Uncapped earning potential
Some companies offer commissions of up to 80% of the sale price to the affiliate. This means that if you can get your costs right, then you stand to do well. Remember, if you use paid advertising to find your customers – then you need to ensure that:
$ Return per customer > $ cost per customer acquisition
Challenges of Affiliate Marketing
While it appears to be a straight-forward model, you need to consider the following when getting started with affiliate marketing:
Patience
Depending on your affiliate funnel, it can take some time to see results. You might hit the mark quickly, or maybe split-testing is required to see which landing page, lead magnet, headline, etc, makes a difference and starts to attract clicks and sales.
Lack of control
As an affiliate, you are a ‘sales-man’. That means that you won’t have control over the quality of the product, the customer service team, the nurturing process, the company assets, etc. There is a chance the company can change the offer or pricing with little notice and it might affect your whole business.
It does help to be an affiliate for a brand/product for which you’re familiar with and have had a great customer experience with.
Affiliate Marketing vs Other Strategies
Online business is my hands-down preferred strategy for building extra income. But here are other strategies I pursued and their pros and cons:
Property investment:
+ actual physical asset
+ property appreciates over the long term
– requires significant capital outlay
– extra costs, i.e. service charges, taxes, repairs, etc
Stock/fund investment:
+ more investment platforms = reduced transaction costs
+ allows you to benefit from company earnings via dividends
– requires research
– long time horizon
– subject to economic cycles
Day trading:
+ you can set your risk/return preferences in your strategy
+ can start with little money
+ unlimited earning potential
– need a strong mindset to not chase losses
– you’re on your own
– guaranteed failure if you don’t have a plan/or don’t stick to one
E-commerce:
+ physical product
+ can market and sell on a huge platform like Amazon
+ Don’t have to hold stock
– upfront cost to find in-demand product and test the market
– competitive
Freelancing:
+ allows you to market your unique skill-set online
-requires a commitment of your time
-capped income
Franchise business:
+ real physical assets
+ ready made brand
-huge upfront and regular expenses
Costs of Affiliate Marketing
Below I have listed the minimum you need to get your affiliate marketing business off the ground.
Website builder + domain hosting
There are lots of website builders and domain hosters out there! Some are adequate, while others have additional features like 24/7 support, tools, etc. Convertri is my favorite website builder because it is great for affiliate marketers! The best things about Convertri is that it is so simple to use. You can just drag and drop elements to design your webpage as you please. Also Convertri webpages load super quick! This is so important for SEO or for paid ads, as users want fast page speeds. Google recognizes fast page speeds for SEO ranking.
Monthly subscriptions will start at $75/month.
Email autoresponder
An email autoresponder allows you to send an email or newsletter to multiple people at one time. If you have built up a list of follows or subscribers, then you would want to stay engaged with them. This might be by sending regular emails on your product, or providing tips relating to the product area, useful content, offering downloads, etc. The key with email marketing is to continue to provide valuable content to generate trust from your customers. Eventually they’ll become paying customers.
In fact, email marketing provides one of – if not, the best return on marketing spend compared to other ad types.
AWeber or Mailchimp as reputable email autoresponders. AWeber offers a free starting package, but as your subscribers increase, they start to charge. Their paid packages start at $12.50/month.
Graphics and content design package
Canva is an excellent graphics and design website. It is so user-friendly and allows you to create content for a whole range of platforms – and in a range of formats. They have a huge collection of professional looking templates and is my go-to place for design new graphics.
Canva offers a free package, but the paid package gives you access to more templates and graphics – starts at $10.99/month.
Paid traffic (optional)
If you use paid advertising (i.e. Google, Facebook ads) to attract customers, then you will probably need to spend at least $5/day for the algorithm to work properly and start bringing you customers. Note, this is an optional cost.
Affiliate Platforms
As an affiliate marketer, one of the most important factors to consider when choosing a program is the commission rate. After all, the higher the rate, the more money you stand to make from each sale. In this post, we will take a look at some of the best paying affiliate schemes currently available.
1. Amazon Associates
Amazon is one of the biggest and most well-known e-commerce companies in the world, and their affiliate program, Amazon Associates, is just as popular. With Amazon Associates, you can earn up to 10% in commissions on eligible products that you promote. One of the great things about Amazon Associates is the wide range of products available, including books, electronics, clothing, and more. Plus, their cookie duration is 90 days, giving you plenty of time to earn commissions on referred sales.
2. ShareASale
ShareASale is an affiliate network that allows you to promote products from a wide range of merchants. With ShareASale, you can earn commissions of up to 35% on sales made through your referral link. They also have a large selection of merchants in a variety of niches, making it easy to find products that align with your own interests and audience.
3. CJ Affiliate
CJ Affiliate, formerly known as Commission Junction, is another popular affiliate network with a wide range of merchants and products. With CJ Affiliate, you can earn commissions of up to 8% on sales made through your referral link. They also have a long cookie duration of 60 days, giving you plenty of time to earn commissions on referred sales.
4. FlexOffers
FlexOffers is another affiliate network that offers a wide range of products and merchants. With FlexOffers, you can earn commissions of up to 50% on sales made through your referral link. They also have a long cookie duration of 30 days, giving you plenty of time to earn commissions on referred sales.
5. ClickBank
ClickBank is a popular affiliate network that offers products in a wide range of niches, including health and wellness, personal development, and more. With ClickBank, you can earn commissions of up to 75% on sales made through your referral link. They also have a long cookie duration of 60 days, giving you plenty of time to earn commissions on referred sales.
There are many great affiliate programs out there that offer high commission rates. By choosing one of the programs listed above, you can maximize your earning potential as an affiliate marketer. Just be sure to do your research and choose a program that aligns with your own interests and audience.
You can even search for a brand that you love using, and in Google type ‘xyz affiliate scheme’. This will take you to the company’s affiliate page where you can sign up, and start promoting the product and earning commission when you make a sale.
Choosing An Affiliate Product or Offer
Here are some guidelines when choosing an affiliate product or offer.
1. It should be a product you like or have used yourself. If you don’t like it, you won’t promote it with any passion. People will see right through you.
2. It’s got to be useful for your customer. Don’t just promote something for your own gain. Promote something that will really help people. All businesses are started to solve problems and yours should too.
3. I found the best niches for launching an online business, especially an affiliate marketing business are:
Health
Wealth
Self
Social
If you can find a product that falls within one of the above niche areas, then that’s a great start. For example, diet products fall under ‘Health’ and are always in demand. Similarly for money making strategies – which fall under ‘Wealth’.
But…you don’t want to be too generic with your sub-niche, as there may be a lot of competition. For example, weight loss pills are everywhere on the internet. It may not be easy to stand out. Check out this article on how to use Google Trends to find your sub-niche:
4. To get real success you ideally want your business to have monthly recurring income. In other words, each month the customer pays for the product subscription – you get a commission. So by earning a monthly revenue, you have created a passive income for yourself.
5. Once you have customers you want them to love your product, rave about it and keep buying other related product from you. So make sure the product has other products to compliment it, or even up-sells, i.e. a premium package. This is a great way to increase your revenue from the same customer. In other words – your revenue per customer increases.
Points 1 and 2 are non-negotiable.
If you’re looking for guidance on how to properly start an affiliate business, then I would highly recommend the Modern Wealthy training below.
Marketing The Product or Offer
Free (organic strategies) vs Paid advertising?
Once you’ve decided on a product or offer, you then need to work out how to market it to an audience. Ask yourself, do you have time or money? If you have more time, then maybe you can go down the route of content creation. This is where you create content regularly and post on your social media (Instagram, Twitter, TikTok, etc) or broadcast to an existing audience by email.
The content you post will be related to the product, and includes tips, news, quotes, free products, etc. By creating content regularly, the idea is to create followers. Once you have sizeable followers, then you can actively start to market your affiliate product – and hopefully make sales.
Blogging
If you like to write, then why not consider blogging. Blogging is free and you can write to your heart’s content. The key with using blogging for affiliate offers – is to ensure your blog is relevant and addresses a key pain point of the reader. Only then can you bridge the reader to your offer.
There are many blogs about a variety of topics, so the internet is pretty saturated already with blogs. But that shouldn’t stop you from writing an article about something you’ve learnt, or presenting some compelling research or stats relating to your affiliate product.
I have used my blogs and then sliced and diced them to post on my socials. That includes email broadcasts, Instagram, Facebook etc. Reformat and reposting is a great way to ensure you are utilizing all of the platforms.
Note that blogging and the other content creation strategies above require you to play the long game and build an audience.
Paid advertising is where you are paying for targeted traffic. You can advertise your offer on Google search, YouTube, Facebook, Instagram etc. Of course – this strategy has the potential to provide you with laser focussed traffic who are interested in what you are offering. Be warned though – that if you don’t know what you’re doing, you can waste a lot of money on paid ads!
Here are some of the paid advertising platforms:
Google search –
Google is the world’s go-to search engine, and has billions of searches every day. You can’t afford NOT TO be on Google!
It is all about search intent. Someone will use Google because they need to learn about a topic, or need a solution or help to fix something. Considering the number of advertisers – Google ads are very competitive, but if you can produce an ad and content that directly addresses the pain or problem that someone is searching – then your affiliate offer will do well.
YouTube –
YouTube is owned by Google, and so it uses the same paid advertising platform as Google Search – ‘Google Ads’. YouTube advertising is powerful because you can connect with a viewer on an emotional level. Something that is hard to do with plain text. If you can create a compelling video ad that hooks the viewer, addresses their pain problems and presents a solution – then you’re onto a winner.
YouTube video ads generally appear before the main video that the viewer is watching. You have 5 seconds at the beginning before the viewer can click on ‘Skip’ and continue with their main video. In those 5 seconds, that’s when you ‘hook’ your viewer in.
I started my first affiliate business by marketing on YouTube and it was amazing. I was able to portray my message with emotion, logic and results. Video is powerful and I would always recommend marketing on YouTube with the right guidance.
Facebook –
Facebook is a super mature platform, with a very sophisticated algorithm behind it’s advertising. That means that Facebook is so incredibly clever at finding the right people for your offer – providing a) your ad is highly focussed, and b) you apply the appropriate targeting for your ad.
If you can create a Facebook ad funnel that is generating leads and sales from your affiliate product, you stand to do very well. Just note that when it comes to scaling your ad – YouTube is much better to get to 5 and 6-figures a month. That is because YouTube typically is better for marketing high ticket products (>$300). Where Facebook does well for those advertisers who are marketing products that are priced at <$300.
These days you will note that there are so many adverts online shouting out “How you can make $000s a day” or “Change your life in a week”.
But it’s pretty much impossible for a beginner in affiliate marketing to do it this quick.
Here’s why
When getting started with affiliate marketing you want to promote 1 product only. Focussing all your attention on getting it to work and produce nice healthy profits. Only at that point should you start to promote and sell a 2nd, 3rd, 4th product etc.
Alot of people make the mistake early on with trying to do 10 things at once.
Focus on 1 product, learn the process and then you can repeat later on.
This is a journey, not a sprint.
Below are the steps you should now take:
What’s next?
1. Google the company you want to promote (example Amazon affiliate program, Manscape affiliate program, Booking.com affiliate program, MindValley affiliate program, etc). You’ll see if you can promote their products or not.
2. Sign up for the free affiliate program, and you’ll receive an affiliate link from them.
3. Build a basic website/landing page around your niche or product you are promoting (once you’ve learnt how to build websites you can do this in a few hours). Today’s technology makes website building so quick and straight forward.
4. Advertise via free strategies such as blogging, YouTube channel, Instagram or Facebook. Or go down the route of paid advertising such as Bing, Google Search Ads, YouTube ads, Facebook ads, Instagram ads or banner ads.
5. Add value to your customers and show how the product can help them solve their pain or problem.
6. Customer clicks and buys, and you make an affiliate commission.
Note there are various ways from point 4. to generate sales, but the above are the most common.
As you can see it requires a bit of work and learning to get to this stage.
It’s not possible for a beginner to make money in a week with all of this. Chances are it will take a month or maybe 2 or 3 months. Maybe even longer to really learn the skills that are needed to succeed in affiliate marketing.
But the next few months are going to pass regardless so you may aswell get started. And once you set up a successful funnel, it will run virtually automatically, generating sales 24/7 – while you are sleeping, travelling or eating.
Don’t believe me? Google it now. Type in companies and take a look at the commissions they offer. Some commissions range from hundreds of dollars to thousands per sale. How many $2000 commissions do you want to make a month?
Best Affiliate Marketing Strategy
Imagine a subscription-based product priced at $100 monthly that pays you $25 per month each time the customer pays the $100 (btw – thousands of products offer a subscription-based affiliate model. I’ve picked a mid-range.).
Normally digital products, memberships, software, courses and training products offer these types of recurring commissions.
Let’s say your aim is to make 10 sales a month (you can advertise to a global audience):
Month 1 – You’ll be earning the sales commission only, no recurring commission
Month 2 – You’ll be earning $250 in recurring commission + new sales you make
Month 3 – You’ll be earning $500 in recurring commission + new sales you make
Now imagine you can make 20 sales a month – over the course of a year.
As mentioned above, you don’t need to have a following to do this. Advertising can get you in front of buying customers within hours of launching an advert.
There is no reason why within a few months you can’t be set up with you affiliate funnel and making your first sale online. From that point on you just scale your advertising budget, reach more people and make more sales.
The process is very simple. It’s just about learning the skills that is vital for all of this to work.
High ticket affiliate marketing strategy
You can be an affiliate for Amazon for example. That means you don’t have to own a specific product. You simply promote a particular product and if someone clicks on that specific link, it takes them to Amazon where they can buy it.
Now Amazon pays it affiliates around 5-10% commission. Let’s say that an average Amazon product is $30. So if you were to promote and sell a $30 product as an affiliate – you’d make around $3.
That’s not ground-breaking.
You’d have to sell ALOT of those products to make it a worthwhile business.
If you wanted to earn $1000 a month as an affiliate – you’d have to sell over 300 of those products.
My strategy?
I sell products that are priced higher, i.e in the hundreds and thousands of dollars (not $30).
Also – i target those affiliate programs that pay a high affiliate commission %, i.e. 30%, 40%, 50% and more.
Yes those programs do exist!
So I basically promote and sell high priced products that pay a high affiliate commission:
In the above example you can see that you can earn $200 if you sold a $400 product as an affiliate (assuming commission rate is 50%).
To hit a monthly income target of $1000, you’d only have to sell 5 of these such products:
And you’re income is not only restricted to the initial commission you get from a sale.
Some affiliate programs pay affiliates membership income, i.e. for each month the customer stays as a member – the affiliate receives a percentage of the monthly membership fee.
This is known as ‘recurring income’.
Also, some brands and companies have up-sells, where the customers goes on to buy further products. Therefore, you as an affiliate can receive affiliate commission from future purchases/upgrades that that customer decides to make.
This is known as ‘high-ticket income’.
Bottom line – if you can find an affiliate scheme that pays all 3 types of income (initial, recurring and high ticket) – then you’re on your way to a six-figure passive income.
Real Life Affiliate Marketing Examples
Example #1
Vikki Renz is the owner of YouTube channel – ‘Oh my Mama Body’, where she gives advise on women going through pregnancy.
As part of her channel description, she has an affiliate link to Lavender Oils that she uses and recommends (see below).
She also offers a 24% discount when a new user clicks on the link and sets up their account. If that person buys the oils, then Vikki stands to make a commission.
Example #2
Landria Onkka is a spiritual teacher and manifestation guru. On her website – https://landriaonkka.com/, she has a page on Healthy Choices. There she has different products that she has used and recommends.
The links take you to her Amazon shop where she utilizes Amazon affiliate links to sell other company’s products:
Amazon will then pay her a commission (5-10%) for every sale made.
Example #3
You know those review articles that compare products? Well, those are affiliate websites. They compare and rate products – and then give you an option to buy them via affiliate links:
Check out the listings for websites when I type in ‘best noise cancelling headphones’:
When I click on this link, it takes me to the TechRadar article – which has affiliate links for different headphones that they are comparing.
See below example for the Sony WH-1000XM4 headphones:
Example #4
YouTuber David De Las Morenas has a channel called ‘How To Beast’. Here he posts videos on how to become your best self.
As a result of accumulating 1.3m subscribers, he is able to promote other products and services he uses. He does this by sharing the product’s affiliate link:
See below a sleeping mattress product URL link that David shares in his YouTube video description. You can see this product (Helix mattress) is relevant to the video content ‘My Morning Routine 2023’.
By adding the ‘/beast’, at the end of the URL, the company Helix Mattresses can then identify where sales have come from. If David’s audience clicking on that link and purchase a mattress, David receives commission from the sale.
My Journey As An Affiliate Marketer
When I started my affiliate marketing online business journey four years ago, I had doubts around what I could achieve. I had a desirable goal in mind, but wasn’t sure how realistic it was. I had these questions in my mind –
– Is it a scam?
– Can I really do it?
– What if give up and fail?
– What will my family think?
It took me a few months to go through the affiliate training and then I was ready to start marketing my affiliate products in July 2019. And I was so excited!
But the sales and income didn’t come quickly for me.
It took me a few months to really get my funnel nailed down, to get my marketing message pinpointed – AND more importantly to get my mindset corrected.
So it was in Sep’19 when I made my first few sales.
Below is a graph of my sales at that time.
While it might not be massive earnings, at the time it was very significant for me. It showed me that if I can make $100 online, I can $1000. And I can make $1000, I can make $10,000.
That’s the advantage of a leveraged business model.
With people I knew earning >$30k/month, I know that if I keep persisting, if I keep learning and tweaking my business, and more importantly – if i stay committed to the journey – the sky is the limit!
Conclusion
I hope my growth can inspire you as well.
Note – I’m not special in any way.
Trust me on this. I’m not a whizz when it comes to technical stuff. I’m not a natural born entrepreneur. And I’m not a natural sales-man.
But i was committed to changing my circumstances. I didn’t want to rely on a wage anymore.
So click here to get started with the same affiliate marketing business training that I took. It allowed me to learn digital marketing and earn at the same time by creating an affiliate marketing business.
The important thing is – how bad do you want to change your circumstances? How badly do you wish to create another income around your job.
Or how much do you want to quit your job and live a freedom lifestyle?
https://anandgiani.com/wp-content/uploads/2023/04/what-is-affiliate-marketing-and-how-does-it-work-1.jpg12602240Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-04-29 20:08:552023-05-19 09:17:00What Is Affiliate Marketing And How Does It Work?
I’m sure you hear it alot, but what is a home-run business? And as a corporate employee, why should you start a home-run business? And how can you do it?
Basically a home-run business means choosing your own working hours and working on projects of your choosing.
Starting a home-run business can be a great way for corporate employees to take control of their career and financial future. Here are a few reasons why:
Financial independence: Starting a business allows you to be in control of your own income, rather than relying on a salary from an employer. This can lead to a greater sense of financial security and freedom.
Career satisfaction: Many corporate employees feel stuck in their current roles and may not see opportunities for advancement. Starting a business allows you to pursue your passions and interests, and can lead to a greater sense of fulfillment and satisfaction in your work.
Flexibility: A home-run business allows you to set your own schedule and work from the comfort of your own home. This can be especially beneficial for those with family or other responsibilities that make it difficult to commit to a traditional 9-to-5 schedule.
Innovation: As a business owner, you have the freedom to innovate and create new products or services. This can be especially rewarding for those who feel stifled by corporate bureaucracy and lack of autonomy.
Low startup costs: Starting a home-run business can be relatively inexpensive, especially compared to opening a brick-and-mortar store or office. This can make it a great option for those who want to start their own business but don’t have a lot of capital to invest.
This is unlike employment or your job where you have to work fixed hours and are doing work given to you – like it or not.
You can work for yourself through the following ways;
Freelancing – where you sell your skills and provide a ‘tangible’ outcome.
Coaching – where you share knowledge or experiences in how to achieve a goal.
Ecommerce – where you sell physical products online on Amazon or eBay for example.
Affiliate marketing – where you sell other company’s products online as a referrer and earn a commission. Perfect for you if you don’t have your own product at this stage.
I firmly believe you should work for yourself for the following reasons;
#1 – High costs of living
With cost of goods and services rapidly increasing, we’re seeing that wages are not going up by the same rate unfortunately. It therefore makes it harder and harder to afford your current lifestyle – unless you have additional sources of income. This is why having your own business can provide a level of security that your job can’t.
#2 – Uncapped income
Linked to the above, it’s so important to create multiple sources of income to secure your financial future. The best thing about starting an online business is that you can leverage existing systems and platforms, and scale up your income. That means the amount you can earn online is really up to you. £1000 a month, £10,000, £100,000 a month? There’s no limit.
#3 – Choose when you work
Sometimes life just takes priority. And this means that your work needs to take a back-step. This is why having your own business allows you to set your own hours – without having to explain to a boss or employer!
#4 – Leave a legacy
What do you want to leave for your kids or future generations? This might be skills, money or maybe you want to be known for something. I believe that you should teach your kids to become financially independent and pursue entrepreneurship where they can. Of course, being in a job is NOT a bad thing. It’s a noble pursuit. But – if you value freedom and independence, then owning a business is the best choice for you and your family.
The one thing that helped me launch my online businesses was the principle of ‘Authority Marketing’.
What is Authority Marketing?
Authority Marketing is a cutting-edge strategy enabling you to join the modern wealthy and make more money in less time, buy working smarter – not harder. It ends with you working for yourself, and not for anyone else. You can start a home-based business using the principle of authority marketing.
It’s about embracing today’s digital world by leveraging the power of online marketing systems to automate selling any product or service to any target audience anywhere in the world.
Basically…
Step 1 – Identify Profitable Niche
Step 2 – Pinpoint your Audience
Step 3 – Understand what they want
Step 4 – Create your Brand & Message
Step 5 – Launch Marketing System
Step 6 – Promote Offer and make money
Authority Marketing enables you to generate leads and sales online, 24/7, 365 days a year without ever having to chase or convince anyone – or spend your time posting all day on social media.
It even works when you’re not!
The Benefits of an Authority Marketing System?
Work from anywhere
Work when you choose
Answer to nobody
Total time freedom
Earn uncapped income
So, time to join the Modern Wealthy. Click here now to learn more about Authority Marketing and how it help you make the transition from frustrated employee to a more present-living Online Entrepreneur, EVEN if you don’t have your own product or niche idea at this stage.
Overall, starting a home-run business can be a great way for corporate employees to gain control of their career and financial future. It offers many benefits, such as financial independence, career satisfaction, flexibility, and the opportunity to innovate. However, it’s important to be aware of the risks and challenges involved and to make an informed decision before taking the leap.
https://anandgiani.com/wp-content/uploads/2023/01/home-based-business.jpg6671000Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-01-12 19:40:032023-01-12 19:45:54Breaking Free from the Corporate Grind: Why Starting a Home-Run Business Can Change Your Life
The other day I was talking to a friend of mine Sean. And he said he was interested in starting his own online business – but the biggest thing holding him back was being so busy and lacking time.
Sean needed a way out of the corporate job but couldn’t find the time to start something online.
He is probably right in that his work, family, commute and other commitments take up most of his time in the week, and little time he has left is to unwind and relax.
But then I asked him – why did he really want to build an online business? He said the main reason was so he could finally leave his corporate job and create more time for himself and his family.
Fair enough. Sean’s ‘why’ for starting an online business was clear in his mind.
Then I told him it was exactly the same for me. I really wanted to start an online business but felt that I didn’t have time to go through the steps of building an online business. But the ironic thing is that – in order to achieve the dream of ‘time freedom’, we have to commit time now to the process.
If I can carve out 1 hour each evening to build my online business – I will be 1 step closer to my dream
What this means is – you have to sacrifice certain things in your day in order to build your business. You have to take the first step and say ‘ok i know I have limited time, but if I can carve out 1 hour each evening’ to build my online business – I will one step closer to my dream. (Not sure how – check out this article),
This is what I did when I started my online business training in February 2019. My thinking was – I really want to change my circumstances, and become a free man. In order to do this I’ll work every evening 9.30-11pm once I’ve done everything i need to do at home.
No TV.
It is a sacrifice, yes. But remember – nothing worthwhile comes easy.
So what I said to Sean was if you really, really want to change your life – then naturally you will do whatever is required to make it happen.
https://anandgiani.com/wp-content/uploads/2023/01/Man_Stressed_At_Work_Illustration.jpg600800Anandhttps://anandgiani.com/wp-content/uploads/2022/03/Anand-Giani-Logo-RGB-1-300x225.pngAnand2023-01-11 16:47:362023-01-11 16:50:32Sean's Problem - How To Start An Online Business Around Your Corporate Job When You Have No Time!
Creating an online income alongside your corporate job can be a great way to build financial security, gain skills, and achieve a better work-life balance. With the rise of the gig economy and the increasing number of remote work opportunities, it’s now easier than ever to create an additional source of income. That’s without considering the increased cost of living that we all face!
However, it’s important to remember that creating an online income takes time, effort, and dedication. Here are some strategies that can help you build a sustainable online business while working your corporate job.
Freelancing: Offer your skills, such as writing, graphic design, or programming, as a freelancer on platforms like Upwork, Fiverr, or Freelancer. To be honest, these days you don’t even need to have your own skills. With the advance of AI (artificial technology), there are now more tools than ever that allow you to do things like; website creation, content creation, translating a language, copywriting, video editing, etc. It’s more more easy than ever and you can do these things at low cost. ChatGPT is great (and free) example of a hot AI tool that allows you to create content or get advise by simply requesting it! You advertise your services on freelancer platforms like Fiverr, and get the AI tools to do the hard work 🙂
Online tutoring or teaching: Share your knowledge and expertise in a particular subject through online tutoring or teaching on platforms like VIPKid or iTalki.
Selling products online: Start an online store and sell products on platforms like Amazon, Etsy, or Shopify.
Affiliate marketing: Partner with brands and promote their products to your audience, earning a commission on sales made through your unique referral link. Affiliate marketing is a great way to earn an income around your job – especially if you don’t have your own product or service. You simply leverage an existing company’s products and go out and market that product. The company may even provide the marketing assets for you. On top of that, the company will deal with customer enquiries, refunds, fulfilment, etc, so you don’t have to! I am currently an affiliate marketer for four brands and it was my first online business while working in my 9-to-5 corporate job. When it comes to affiliate marketing, you really want to market a product you have used before and would happily recommend it to others. If you want help getting started with your own affiliate business – check out the same training that I used as a beginner.
Dropshipping: Start a dropshipping business by selling products through an online store without having to hold inventory. Again, another fantastic online income source that leverages internet platforms like Amazon and its millions of customers. Before spending thousands on committing to a product – you should follow guidance on how to effectively build your ecommerce drop-shipping business.
Blogging or content creation: Build an audience and monetize your blog or YouTube channel through advertising, sponsored content, or affiliate marketing. Again, ChatGPT can really help with this! But while ChatGPT (and other AI tools) can give you a start – you should definitely tailor the content to make it your own style.
Podcasting: Start a podcast and monetize it through advertising, sponsorships, or affiliate marketing.
Investing in stocks or cryptocurrencies: Invest your money into stocks or cryptocurrencies and earn returns through the appreciation of the value of your investments.
Online surveys: Participate in online surveys and earn money for your opinions.
Automated trading: This is a great strategy if you’re looking for passive income, i.e. invest once and earn returns daily/weekly. Automated trading or ‘trading bots’ will trade the markets for you automatically using a set strategy or settings that might tweak slightly. There are many in the market, but I use this one to earn me consistent daily positive returns, with a minimal investments.
By taking the time to get clear on your goals, identifying your skills and interests, creating a strategy, setting up a schedule, taking advantage of technology, outsourcing certain tasks, being consistent with your efforts, and learning from others, you can create an online income alongside your corporate job. Keep in mind that it will take time, effort, and dedication to make it happen, but the rewards can be well worth it.
Remember to also be mindful and keep the work-life balance healthy, the idea is not to burn out or neglect important aspects of your life, start small and grow gradually, review and adjust your strategies as you go and always be open to learn and evolve.
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You hear about making money online, best passive income strategies, passive income ideas, how to make passive income, passive income 2023, side jobs, hustles, etc….but if you’re looking for ways to diversify your income streams and achieve financial freedom, passive income is integral.
In fact, more people than ever are searching for passive income strategies online and seeking ways to earn extra income. Check out this chart from Google Trends showing how ‘passive income’ searches is on the rise:
Passive income searches on the rise over the last 5 years
Passive income is defined as income that is generated with little to no ongoing effort, allowing you to earn money while you sleep. While earning passive income does often require some upfront work and effort, it can be a great way to build multiple income streams and achieve financial independence.
Here are some of the top passive income ideas to consider:
Renting out property: One of the most popular ways to earn passive income is by renting out a room, apartment, or house on Airbnb or through a traditional lease. This can be a great option if you have a spare room, a vacation home, or an investment property that you’re not using all the time. By renting out your property, you can earn money without having to do any additional work. Just be sure to consider the time and effort involved in managing a rental property, as well as the potential risks and legal considerations.
Dividend stocks: Another way to earn passive income is by investing in dividend-paying stocks. When you invest in a company that pays dividends, you’ll receive a portion of the company’s profits in the form of regular payments. Dividend stocks can provide a reliable source of passive income, although the amount you earn will depend on the stock’s performance and the dividends it pays. It’s important to do your research and carefully consider the risks and potential rewards of any investment.
Peer-to-peer lending: Online platforms like Lending Club and Prosper allow you to lend money to individuals or small businesses in exchange for interest. This can be a good way to earn passive income, although it does involve some risk. It’s important to carefully evaluate the creditworthiness of potential borrowers and to diversify your investments to minimize your risk.
Creating an online course: If you have expertise in a particular subject, you can create an online course and sell it on platforms like Udemy or Teachable. This can be a great way to earn passive income, as once you’ve created the course, it can be sold over and over again. Just be sure to put in the time and effort to create high-quality content that will appeal to your target audience.
Building a drop-shipping store: A drop-shipping store allows you to sell products without having to hold any inventory. You can partner with suppliers who will handle the fulfillment process, allowing you to focus on marketing and sales. This can be a low-risk way to earn passive income, although it does require some upfront work to set up and promote the store.
Creating a mobile app: If you have a great idea for a mobile app, you can create it and sell it on the App Store or Google Play. This can be a lucrative way to earn passive income, although it does require a significant amount of upfront work to develop the app and get it approved for sale.
Affiliate marketing: Another way to earn passive income is through affiliate marketing. This involves promoting products or services on your website or social media platforms and earning a commission for each sale made through your unique referral link. This can be a good way to earn passive income, but it does require some upfront work to set up and promote the products or services. If affiliate marketing interests you, check out this expert training to help you launch your profitable affiliate marketing business.
It’s important to note that earning passive income generally requires some upfront work and effort. However, with the right strategy and a bit of perseverance, it can be a great way to build multiple income streams and achieve financial freedom. As with any financial decision, it’s important to do your due diligence and carefully consider the potential risks and rewards of any passive income opportunity before getting started.
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I want to talk to you about SEO, providing value to your customers and making money.
Firstly, what is SEO?
SEO stands for Search Engine Optimization.
Essentially, SEO is the technique to getting your website/webpage ranking as high up as possible on Google. Ideally, you’d want to rank as one of the first 3 or 4 listings in a Google search for your topic/keyword.
What’s the advantage of getting a high ranking on Google?
Eyeballs! Ask yourself when you search for something on Google, how far do you scan down the results on the 1st page? Do you even go to page 2?
For this reason, the listings on page 1 of Google receive the most views and therefore clicks.
If your site gets thousands of views and clicks every month, you can then start monetizing your site, i.e. make money from the content on your site.
Ok, how do I rank high on Google?
You may have heard that this is a hard and long process. And this is partly true. Getting ranked ‘organically’ (i.e. without paying for it) on Google can be take time. Essentially you’re playing the long game. So this is why you should choose a topic/keyword/niche that you are passionate about, or have good knowledge of.
How do I find a niche area that is worthwhile pursuing?
If you have an idea of some types of topics/niches you wish to build a business around, then read my article here on how to use Google Trends and pinpoint what niche to focus on.
I have chosen a niche area. What next? How do I get ranked high on Google?
So you have chosen a niche area that is popular and trending upwards. Here are 6 steps to rank high in Google:
1) Understand what people are searching for relating to your niche.
a. Join Facebook groups relating to your niche area. Find out what people are asking about, or whether there is a gap in that niche area that maybe you can fill. Why? Because you want to serve a market, solve a problem and attract an audience.
b. See what questions are being asked on Google. How? Enter a phrase relating to your niche topic and then see what phrases Google suggests. Sometimes this shows as a drop-down as you enter your phrase….and sometimes the other phrases appear on the right hand side of the search results.
These phrases are what other people have been searching for.
2) Create content with intent to help and solve
This is important. Around 5 – 10yrs ago, people used to use ‘black hat’ and dodgy techniques to get ranked high on Google. Google recognised this and since changed its algorithm. It now prefers value-driven content that answers people’s questions. In other words – it is looking for original authentic, content that doesn’t have an intent to make money.
So whether you write a blog or do a video, you need to create useful content – ideally content based on your research above.
3) Don’t blindly copy other people’s blogs or articles!
If you like someone else’s content, then use it and re-write in your own words. But do not copy it word for word! Google’s algorithm is very sophisticated and can easily spot duplicate pages and content. It won’t rank your page if it detects copying. Don’t take the risk – it’s not worth it in the long run! Create high-quality, original, and useful content that addresses the needs and interests of the target audience. This can include blog posts, articles, videos, infographics, and other forms of media. It is also important to use keywords and phrases that are relevant to the content and the target audience, as these will help search engines understand the content and improve its ranking.
4) Make your blog/content piece longer and better than your competitors
The best way to achieve a higher ranking on Google is to look at your competitors pages that are ranking – and write a LONGER, more value-driven piece. Assess what they are missing in their page. Could you include more pictures, videos, comparisons, product reviews? Whatever it is – make it better than their page! Also, you should aim to optimize its structure and design. This includes using descriptive and relevant titles and headings, using alt tags for images, and having a clear and easy-to-navigate layout. It is also important to have a responsive design, as more and more users are accessing the internet from mobile devices.
5) Outsource
Remember, you don’t need to do step 2) – 4) by yourself!
Instead, outsource it to a content expert on Upwork or Fiverr. These are freelancing platforms where you can get someone else to do the work for you, for a small fee.
Even if you have to pay them $50 per content piece and they produce 10 content pieces for you, i.e. $500 total – that’s $500 well spent if it gets you ranked higher on Google.
Why? Because that results in views and clicks and the chance to eventually monetize your site..
6) Use Social Media to promote your site
You can use Facebook, Instagram, YouTube, etc, to promote your site’s content for free. That is the beauty of social media. If you build a following on your social media channel by providing value – more and more people will visit your site. Again – this is FREE TRAFFIC.
Bottom line – When you get to the point where you have created a site around your niche topic and it contains useful, value-driven content that is attracting tens of thousand visitors a month, then you can easily start earning money through:
Google Adsense (where Google places related advertisements on your page)
Affiliate marketing
E-books
E-courses
Sponsored posts
Merchandise
The opportunities are endless 🙂
And for the most part, you are spending no money on paid advertising to generate this passive income.
The key is to create useful, value-driven content initially – with no intent to make money. Just to serve your market.
Remember, this is a long-term strategy.
You need to create content, attract an audience and be seen as an authority (or one of) in your niche area. If you follow the Steps 1) – 6) above – it will be worth it in the long run.
If you wish to learn this strategy in detail, and go through the same online business training I went through – then click here to begin. This will help you to get started with your online business even if you don’t have your own product or idea at this stage.
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