How To Make Money with Email Marketing?

The most effective tool in your toolbox for producing money online isn’t paid search advertisements, social networking, or SEO. It is email. Of all marketing channels, email marketing has the greatest conversion rates.

By 2023, email marketing revenue is estimated to reach almost 11 billion. Does that sounds appealing, and would you like to jump in on the opportunity? In this article, you’ll learn how to monetize your email marketing campaign. However, let’s start with the basics and define email marketing in order to provide instances of how to profit from it.

What Is Email Marketing?

Email marketing has a straightforward description (the name gives it away), as well as a more nuanced one. An email marketing campaign is fundamentally the practice of sending emails to clients in an effort to increase sales.

The concept has been around for over two decades and continues to be one of the most effective ways to develop a brand. And the greatest part is that it doesn’t require a huge expense. Feel free to read more about Microsoft email hosting and understand its benefits on HostAdvice.

7 Ways To Monetize Your Email Marketing Campaign

Here are the seven proven ways to earn money with email marketing.

#1: Sell A Product on The Thank You Page

The Thank You page of your opt-in is the best spot to start making money off of your email list. People that choose to participate in your offer are interested in your company and your offerings. So, start converting these curious subscribers into buyers straight now.

Links and product descriptions should be added to the “Buy Shop Products” page. You can even include endorsements and glowing reviews to sweeten the bargain and induce users to make a purchase immediately.

#2: Sell Other People’s Products

To make money through email marketing, you don’t necessarily have to sell your goods or services. As an alternative, you can promote the goods or services of other companies as an affiliate. This way, you will receive commissions on sales you bring in for the business. An excellent example of an affiliate is a business coach who helps customers design their businesses online.

Reseller and affiliate programs are much more convenient for beginners since you don’t have to worry about anything else than the sale itself.

#3: Cross-Selling

Every transaction a consumer makes reveals information about their preferences and areas of interest. Using this knowledge, you may persuade them to buy additional items they would also like.

Because targeted, individualized emails encourage repeat business from online customers, you most certainly have one in your mailbox right now that says, “Because you bought this, you could be interested in this.” It’s the perfect example of a cross-sale!

#4: Upsell Premium or Exclusive Products

Offering more goods or services at the moment of purchase, often known as upselling, is one of the ways to earn money with email marketing.

You can also consider providing a monthly online subscription that gives consumers access to a user base, webinars, and a collection of materials. After someone joins, you may then provide them with exclusive products.

#5: Replay Promotions

Was a prior email campaign of yours tremendously successful? Did customers go nuts when you had a two-hour flash sale on your products? So go ahead and repeat it.

Don’t forget to keep track of all your prior campaigns and repeat any past promotions that performed particularly well. Even without special sales or discounts, people tend to perk up. Use that as leverage to earn money right away.

#6: Create A Plan for Cart Abandonment

We’re all a little forgetful; therefore, it’s understandable that customers frequently become sidetracked or abandon a purchase since they weren’t prepared to do so at that time.

Automatically send them emails that are very relevant and persuade them to purchase the good or service they were thinking about. Frequent abandoned shopping cart emails increase a customer’s likelihood of making a purchase by 2.4 times compared to receiving only one.

Consider sending the first message the day following the abandonment, the second message 48 hours later, and perhaps the third communication within 3 to 4 days.

However, be brief in your cart abandonment emails. If you want to draw the reader’s attention, adding a little comedy or personality won’t hurt you.

#7: Automate Your Email Campaigns

Often referred to as autoresponders, automated email campaigns are a set of emails that are automatically delivered to your new subscribers, saving you effort and time and allowing you to focus on what you enjoy.

Your welcome email sets the tone for the sorts of emails your subscribers may anticipate from you by being the first email in your autoresponder series. Additionally, since welcome emails frequently have better user engagement rates than other kinds of emails, it’s an excellent opportunity to close a deal. In order to continue offering your readers value, follow up on your welcome email with a welcome series.

The Bottom Line

While each of these ways is a great method to increase revenue from email marketing, they won’t succeed without persuasive email writing or content that attracts customers. Of course, you must first create an email list before you can consider how to monetize your email marketing efforts. To achieve this, you must pick a suitable lead generation strategy.

Feel free to experiment with different email content templates and pursue what works for your audience and feels right for your business!

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3 Ways to Ask For Time Off

Unless you have chosen to start your own business, no matter where you work, requesting time off can be scary. Whether you need time off to recover from bone spur surgery or just want to take a vacation, it is inevitable that you will need to take time away from the office at some point during your employment. No matter what your reasoning for requesting time off may be, speaking to your boss about this issue can be a daunting task. If you need to request time off work in the future, here are a few tips for doing it the right way.

Review Your PTO Policy

Before asking your boss for time off work, make sure you have a thorough understanding of your company’s paid time off policy in order to determine if your request is reasonable. How many days off are you allowed per year? How many have you used already? If your PTO is limited and you’ve already used a lot of it or have called in sick a few times this year, it might not be reasonable for you to request two weeks off work for a vacation next month.

Determine How to Have the Conversation

Many workplace experts advise against asking for time off over email or text, as having the conversation in person appears more professional and shows respect. While this is true in some capacity, it is also important for you to consider your boss’s busy schedule and evaluate how they prefer to communicate with employees in order to best respect their time. If your boss rarely meets with employees one on one and prefers to communicate most issues via email in order to conserve time, asking for time off in this way could be your best option.

Give Relevant Details

When asking for time off, it is important for you to be honest with your employee about the reasons you are taking time off in order to avoid complications in the future (it would be unfortunate to say you need time off to visit family in your hometown, only for your employer to see social media pictures of you on a tropical vacation). While giving details is important, remember that you only need to share relevant details with your boss, or details that are needed to help him or her make a decision regarding the time off you receive.

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4 Ways to Improve Your Relationship with Your Boss

Unless you’re ready to start you own business, then this article applies to you!  In today’s workforce, it is more important than ever to have a healthy relationship with your boss. Since your boss has the potential to shape your entire career and to determine the level of happiness and comfort you experience in the workplace, it is important to maintain positive communication with them.

Here are a few simple ways to improve your relationship with your boss.

Ask for Feedback

A great way to let your employer know that you are engaged with and passionate about the work you are doing and committed to learning and making corrections where necessary is by asking for feedback about your work. Many people shy away from asking for feedback from their boss due to the unknown circumstances surrounding such a conversation, but it is important to remember that even negative feedback can be turned into a positive as it can tell you exactly what areas you need to improve – plus, asking your boss for feedback directly shows that you care and you are less likely to receive negative feedback in this situation than if your boss had to come to you with feedback first.

Communicate Effectively

The key to maintaining positive communication with your boss is by determining how they best communicate in certain situations. If your boss is the easiest to reach via email or text, this can be a good way to relay information or to ask for in person meetings if needed. If your boss is always in the office and accessible to employees, dropping by their office might be a better option than clocking up his or her inbox or messages. Determining the best way to communicate can help you get off on the right foot when you need to have a chat with your boss.

Let Your Boss Know What You Need

If there are any aspects of the workplace or your personal work load that can be improved, be sure to let your boss know. Whether you need a new desk setup or could benefit from some additional training from HSI, be sure to let your boss know what you need before your work is hindered.

Offer to Help

Make it a habit to frequently ask your boss what you can do to help them or other coworkers, especially if your workload is lighter than others or if you find yourself finished with a particular project or with an excess of spare time.

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The Benefits of Investing in an Alert System in the Workplace

The business world is changing rapidly. Nowadays, customers expect 24 hours services and fast responses from multiple communication platforms. 

Employees are also working remotely, meaning you have to communicate important business information that all staff need to know, plus they may want to report issues like IT system outages and other critical incidents. The increase in the number of threats facing organizations has also increased the demand for alert systems in traditional workplaces. 

Businesses are continuously exploring improving their emergency preparedness by keeping their staff informed and connected. Let’s see some of the benefits of investing in an alert system in the workplace.

Decreased Downtime

Unplanned downtime in an organization can be costly in terms of money and reputation. 

However, an organization can communicate to employees about system maintenance with an alert system, thus preparing them in advance. Such proactive plans will significantly reduce any impact on business operation and productivity.

Faster Emergency Response

In case of an emergency, a few seconds can mean a difference between life and death. Therefore, it is advisable to have a faster alert system like a Bluetooth panic button to improve communication during an emergency. 

Since such systems will send notifications to a large audience simultaneously at the touch of a button, one needs a fraction of a second to send an emergency alert to a predetermined group.

Improved Efficiency

Nowadays, traditional communication systems may not be an effective way to cascade information to staff since most have lost the sense of urgency in such communication channels. It is not uncommon for people to postpone reading an email, especially when busy with another task. 

On the other hand, the same individuals will quickly check their phones whenever they hear a notification beep. 

Therefore, mobile alerts can enable employees to swiftly act upon any crucial information, leading to positive outcomes across the board.

Easier Employee Engagement and Alignment

For a business to be successful, employees’ values should be aligned with the policies and values of the organization. However, this is hard to achieve if the employees are unaware of their employers’ policies, values and goals. Such is very common in employees who work remotely or are primarily out in the field since they may not be aware of policy changes or product updates. 

Though most businesses try to communicate these changes to their staff, their methods of doing so, like meetings, memos and emails, may not relay the message promptly. On the other hand, mass alert systems allow a timely sharing of information and strategies through custom alerts.

Saving Lives

Since emergencies can strike at any time, it is always essential for an organization to invest in employees’ safety. Alert systems, like fire alert systems, can help save lives by communicating about the danger before it is too late. 

For example, if your offices are located in an earthquake-prone area, an alert system can help you deliver a warning to all employees and advise them on what to do every time there is an earthquake.

Final Word

Due to the rapid adoption of remote working and increased organizational threats, every organization should invest in a modern alert system for faster communication. 

Alert systems also lead to business efficiency, less lead times, more rapid emergency response and many more. Employees will also feel protected from harm in case of an emergency.

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The 4 Best Ways To Prepare Your E-commerce Store For Black Friday

Once a year, your e-commerce store can hit heights you never thought possible. E-commerce stores can make the bulk of their income from Q4 if they play their cards right. It isn’t just a case of waiting for Q4, or more specifically, Black Friday to roll around. There needs to be some effort put in ahead of time to get the most out of the shopping season. 

More and more people are turning to e-commerce stores to do their holiday shopping, especially during these times of health crisis. This leaves people that have an established store in a very nice position. But, it only counts if you take advantage and make it work in your favor. 

In this article, we will go over several tips that will help you increase your sales the next time Black Friday rolls around. 

1 – Use the right packaging

Your packaging serves a lot of purposes besides just enclosing the product to be shipped. When you think in these terms then you can use the packaging to help you increase your sales for the next Black Friday shopping season. 

For instance, if you use some really nice deluxe gift boxes then these will be appreciated and make an impression. Then, next year you should get a repeat customer because of it. If the packages are bought as gifts and sent directly to the recipient then this is one less thing the customer has to do and will be very much appreciated. 

Your packaging should also have your branding on it very prominently. This should include a nice logo with the right colors for your brand. This way, it will be recognized and remembered for the next time they want to order. Brand loyalty will then help you be the go-to e-commerce store for next Black Friday.

2 – Build an email list early

An email list is essential for marketing in the lead-up to the Black Friday sales. When you have a list that you have been growing all year then you are in a perfect position to have loyal customers ready to be marketed to. 

In the weeks leading up to Black Friday, you should be letting your subscribers know about any sales that are upcoming for the holidays. Let them know how much the discount is, on what items, and for how long the sale will last. This is so they can prepare and have enough time to make their shopping list based on what they expect to save. If there is a limit on how many products then they should know that they need to buy quickly to avoid products running out before they have a chance. 

3 – Have your shipping worked out

Months before Q4 hits, talk to your shipping partners so you know what to expect as far as shipping times when the orders start coming in en masse. One of the worst things that can happen is that you find out that your courier is not able to get the items out on time during the shopping season. 

Ask them specific questions such as how many more trucks and drivers they plan to hire for the season to meet the demand. If you aren’t satisfied that they are going to be ready for the increase in orders, you will need to look for another provider. 

This requires a few months’ notice so you have time to onboard another shipper. During these months you should be able to iron out any hiccups that would be devastating if they were to happen during Q4.

4 – Have multiple payment options

You could have people clicking away from your site when the sales are happening because you don’t offer their preferred way to pay. They may prefer to use Apple Pay or even crypto for personal reasons and will seek out the e-commerce store that gives them that option. Don’t give them any excuse to go to the competition. 

Make sure that you expand your payment processors so you are able to take a lot of payments to make the sales. 

Conclusion

Black Friday should be the day that your sales kickstart into gear and hit incredible heights for a few weeks. Unfortunately, many stores are not positioned well to take advantage of the surge of shoppers.

Don’t end up disappointed by lower than expected sales by being proactive ahead of time. The right strategy will easily put multiple percentage points onto your sales for the season.

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How To Make More Money In 2021

It’s no secret that 2020 was the year that put everyone’s finances to the test. Thankfully, now that things are slowly going back to normal, small businesses have started to reopen and generate income once more. And that is great for them, however, not everyone can rebuild their financial status easily.

Since the economy is still down because of the raging pandemic, people must find effective ways to make more money in 2021. If you are one of them then you are in the right place because we are going to be talking about the different ways you can generate income. Now, there are two kinds of income that you can make: Passive and Active. You can find out more about Passive Income by reading the Passive Income Portfolio over at MoneyByRamey.com.  This article will focus more on the latter, which is building active income.

Here’s a quick definition of active income in case you’re unfamiliar with the term:

What Is Active Income?

Active income is defined as the money or investment you’d earn after doing services that required all of your attention and effort. Unlike passive income where you still get to earn money without putting in much work, active income requires you to move and fully participate in the whole thing.

A quick note:  There are many active income ideas that you can try to make money for this 2021. Listed below are some of the most effective ones we could think of – remember that the opportunities are endless!  Keep in mind that all of the below ideas are for general entertainment purposes only and if you decide to take on any of these ideas, ALWAYS do your own due diligence and research beforehand!

Website Flipping

What is Website Flipping? It is the act of purchasing a website that is already established and then improving all of its aspects so that it can be sold at a higher place. Think of it as the digital version of house flipping.

There are two ways to ‘flip’ a website. You can either buy one (as stated above) or you could also build from the ground up. If you’re choosing to go with the latter then you don’t only need to have the skills to help you out but you also must be willing to invest a whole lot of time and patience. Building a website up to the point where it becomes profitable could take you between a couple of months to a year. It is cheaper compared to just buying one that is already made but at least you’ll have more control.

Purchasing an established website, on the other hand, is much faster as all the bases are already set and you can already focus on the next part which is the building process. Now, there are several ways you can increase a site’s profitability, and some of them are:

• Optimizing website content
• Building links to boost the SEO
• Increase the traffic by forming a solid social media presence
• Make more aggressive monetization strategies such as establishing digital products, partnership programs, and display advertising

Once you’re able to improve the site’s profitability then the next part begins, knowing how much you should sell it. According to dontworkanotherday, the value of the website that you worked on should be about 24 to 30 times the monthly profit you expect from it. This means that if you have a site that has about $200 of profit a month then you can price it at up to $6,000.  Some websites where you can put your flipped websites are Flippa and Afternic.

Why it will work: Website flipping will still be profitable this 2021 because since the world of e-commerce has grown so much over the last year, people are looking for quick ways to establish themselves online. And having a website that already has a great SEO ranking and a solid social media presence is one of the best strategies anyone could ever do.

Invest in Stocks and Cryptocurrency

One of the best ways that you can make money in 2021 is by investing in stocks and cryptocurrency. Why? It’s because not only did both industries remain strong despite the difficulty of last year, they have also expanded so much that you now have countless options as to where you would want to invest your money.

Investing in stocks sounds like a walk in the park, but it isn’t. So if it’s something that you haven’t done before or are fairly new in, then just skip to the next entry, or better yet read this guide first.

The same thing can be said for investing in cryptocurrency. Yes, it is something that you can earn a huge amount of money from but without the proper knowledge to back up every decision you’ll make, you could end up with empty pockets. Cryptocurrencies are often called ‘volatile investments’ because they are so unpredictably unstable.  If this is still something that you are interested in then may we recommend for you to do a lot of research first before making your first investment.  Also, prepare a bitcoin wallet and a bank account that you can sync it with.

Investing in stocks and cryptocurrency can be classified as passive income. However, they can also be called active especially when you have to study the system and closely monitor your investments.

Why it will work: Well, it depends. It could work if you make all the right decisions, and it could all go south as well depending on different factors. As we’ve mentioned earlier, stocks and cryptocurrency are often unstable. So, keep in mind while they could yield high rewards, they also come with a lot of risks that could leave you with no money.

Become an Online Coach

If you have a knack for coaching and extensive knowledge of certain things then you can try your luck at being an online coach. An online coaching business is different from let’s say a field or office-based one because not only could you set your own time but you may also do the entire thing without leaving the comfort of your own home.

The kind of online coaching you will do depends on the niche of your expertise. You can cover academics, baking, vocal lessons, financial coaching, home workout routines, and so on. The pay for an online coach will vary depending on what it is you’re teaching. An online personal trainer, for example, can earn $70 to $100 per hour-long session. Pretty neat, right? But before you get into this, make sure that you make a solid plan on how you’ll put yourself out there. You must figure out if there’s a demand for your skills, the regular rates for online coaches in your area, and how you’ll approach each virtual session with a client.

Why it will work: People always need help with something. Whether it be in school, the kitchen, or even fitness-related, you will always find folks who are looking for an expert’s input on their work. The main challenge for you here aside from finding clients to work with is how you’re going to establish your reputation as an online coach. But once you can do so then this could be a lucrative source of active income.

Start a Meals-to-Go Business 

Are you good at cooking? Do you enjoy doing it? Then you can start a meals-to-go business for people who are too busy to cook their meals. If you’re familiar with meal subscription services such as Freshly, Snap Kitchen, and Veestro then this is similar. You can design meal plans for an entire week and present them to your prospective clients then they can subscribe to whichever meal combo they want to be made for them.

The pay for this will vary depending on the things that you are going to cook because obviously, not all recipes are easy to follow and meal ingredients have the same prices. But to make the most out of it, you must also be able to cater to people with specific dietary requirements.  That way, you’ll be able to cover as much as customers as possible.

Why it will work: Since life is slowly going back to normal, people (especially adult ones) are now returning to work offices outside their home, this means that more and more people are losing the time to cook for themselves and their loved ones. So, cooking and delivering prepared meals tailored to their personal preferences can help keep them satisfied without requiring them to spend a significant time in the kitchen every day.

Manage Social Media Pages 

Companies rely heavily on social media to make them more visible and relevant to the masses, that’s why social media managers play such a crucial role in making sure that the business they work for doesn’t fall out of the scene. As a social media manager, your main tasks include creating posts that capture people’s attention, building a relationship with followers, answering queries, posting content on other sites, and so much more.

Sure, being in charge of a social media page seems fun but there are a lot of things you must first learn. Otherwise, the results you’re going to produce will only be lackluster. According to PayScale, a social media manager can expect a pay of $45,000 per year plus bonus and commissions.  It’s a great paying job, but you need to have the skills to back you up otherwise you’ll be fired in no time at all.

Why it will work: Companies want to be more visible and relatable to their customers so one great way to do that is to hire someone that can effectively establish a solid virtual community without putting them in a bad light.

Be a Virtual Assistant 

You might think this is similar to the previous one but it’s not. As a virtual assistant, you will be required to do different administrative tasks remotely such as setting up email accounts, taking calls, finishing reports, and more. While that may seem daunting, especially if you’re not the most knowledgeable when it comes to software and programs, you can expect some training sessions from the people you’ll be working with.

Upwork and Freelancer are two of the sites that offer countless virtual assistant positions. Now depending on your skills and how long have you been in the business, you can set your hourly rate from $10 to $70 per hour. Pretty cool, right? But before you start your journey as a virtual assistant, you must first do some reading so you can assess your skills and manage your expectations.

Why it will work: No matter what niche, there is always a demand for virtual assistants. Clients will always need help whether for simple tasks such as encoding data and scheduling meetings or more difficult ones such as setting up online accounts and taking calls. It’s a hard job, but one that could be very rewarding for the right people.

Get into Property Management 

Another great way to make money this 2021 is by managing and maintaining properties such as cars, huge vehicles, real estate, large equipment, and other important things that need to be taken care of. But here’s the thing, managing someone else’s property is not easy at all because, on top of having the right set of tools to do the maintenance, you also must know how to execute it properly. Not only those, but you must also deal with other things such as securing appropriate licenses, working with stubborn clients, and protecting yourself from possible scams.

Starting a property management business can be quite difficult as well. We’re not going to go through the specifics of that but if you need help then here’s a guide that we think could help you a lot. So, how much does a property manager get? According to Salary, a typical property manager in the United States can earn $88,035 to $116, 675 per year. However, there are a couple of things that can affect the salary such as experience and educational attainment.

Why it will work: Doing property management in 2021 is a good idea because despite all the financial setbacks last year, people are still buying properties that they can’t always keep an eye on. Your property management company comes into the picture by taking over that duty for them after an agreed price has been settled. They pay you for taking care of their properties, it’s a win-win situation.

Become a Freelance Photographer 

Love taking pictures? Then make money out of your hobby by selling your images or videos online. Sites like Getty Images and Shutterstock are some of the platforms where you can sell your stock pictures. Shutterstock, for example, will give you 25 to 38 cents per image that have been downloaded. It isn’t much, we know, but if you would be able to supply dozens and dozens of stock-free pictures on their platform then you’ll likely earn a few hundred bucks every month.

On top of that, you can also market yourself as a photographer or videographer for events. According to Ziprecruiter, the pay for an average photographer is $42 per hour.

Why it will work: With most restrictions being lifted this year, you can expect more and more events to happen. So, chances are, it won’t take you too long to find a client who is looking for a photographer or a videographer to cover their event.

Buy, Refurbish, and Sell Electronic Products

If you’re knowledgeable when it comes to electronics and how to fix them this might be the perfect one for you. Similar to house flipping, what you have to do here is buy second-hand or old but unused electronic products, refurbish them by replacing/fixing their outdated and faulty parts, then selling them for a higher price. The brilliant thing about it is that you could maximize your income by working on different types of products such as televisions, radio, smartphones (look at what Apple is doing with their refurbished iPhones), and even laptops. Additionally, you can also include other services such as repairing items only.

There are a couple of things you need to prepare before you can start an electronic refurbishing business. First is proper training if you haven’t had one yet, next are the permits and other documents needed, then the place where you will be opening your shop, and lastly the tools that you are going to use to refurbish the items.

The money that you can expect from doing this will depend on different factors. And the flow of income may not be as steady as the other ones that we’ve included in this list. But, as long as you’re able to market yourself properly, then you could have a set of loyal customers who will come back to you from time to time.

Why it will work: People are into branded things that they can get for a lower price, such as refurbished electronic items. Why do you think companies like Apple started selling refurbished items? It’s because there’s a demand for them. As someone who refurbishes electronic products, your main goal is to restore the items as close as possible to their original forms and then sell them for prices that will attract your potential customers. If you’re able to do that then you have great chances of making your business grow.

Final Words  

Earning money in 2021 is easy as long as you have business or job ideas that you want to try. Sure, preparing all the things you’ll need for your money-making strategies to work can be overwhelming but so what? As long as you are generating income, then you are putting yourself on the path of Financial Freedom. With money in your pockets, you will be able to have more choices in life. So the question is, which one of these active income ideas that we shared are you going to try?

Bio: Matthew Ramey is the owner and operator of MoneyByRamey.com. He teaches money management, investing (especially in dividend-paying stocks), and how to achieve Financial Freedom through developing more active and passive income. He is the author of two books; Simple Budgeting and Simple Investing, which can be purchased on Amazon.

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For more saving money, making money, and investment ideas go to www.MoneyAhoy.com

7 Tools You Need To Run Your Business

When you run a small business, you have to control everything, and you don’t have much support. But the right tools can help make running your business less stressful. Then, you can enjoy the process. Here are some tools to consider.

1. Email Client

As a business owner, you probably need to email a lot of people, from clients to team members. That means you need a good email client to help access your email. Google and Microsoft offer some of the best email clients, but you can use any program that fits your needs.

Consider where and how you plan to access emails. Then, you can make sure the provider you choose works on the devices you have. If not, you may want to consider another option.

2. Email Marketing

While you need an email tool to connect with people already involved in your business, you also need something for email marketing. Tools like MailChimp and ConvertKit let you create email lists and send emails to your entire list.

You can create a free offer or coupon code to convince people to join your list. Then, you can send newsletters each month or week to share updates and new releases. Someone on your list may decide to buy, so you can use your list to make more money.

3. Virtual Phone

Unless you have a huge budget, you may not want to pay for a separate business phone line. But you probably don’t want to give out your personal phone number. Luckily, a virtual phone app solves that problem for you.

There are tons of apps that act as a virtual phone with a second phone number. You can access the app on your main phone, and you can take calls and texts like you would with your personal phone. These tools can be cheap or even free, so you can protect your personal information.

4. Project Management

Another crucial tool for your business is a project management tool, like Trello or Asana. These tools let you create and manage your projects from ideation to completion. Whether you use the tool to track client projects or stuff for your business, you need something.

If you have employees, you can add them to the software. Then, you can share messages and assign tasks to certain people. Most of these tools also let you set deadlines and reminders. That way, you can make sure you get everything done.

5. Cloud Storage

If you do anything with documents or need to share files with others, you should use the cloud. A cloud storage tool lets you store and access files from anywhere. You don’t have to always use the same device for all of your work.

Instead of having to email files to people, you can send them a link to your cloud file. Then, you can share more files and do so in less time. And you don’t have to take up a ton of space on your computer’s hard drive.

6. Social Media Scheduler

Aside from email, social media is probably the best place to market your business. You can reach your ideal customers, and you don’t have to pay anything for the service. Whether you use Facebook, Instagram, or Twitter, you will need to post regularly.

A social media scheduling tool can help you do this in less time. Instead of having to post in real-time, you can write out all of your content for the month or the week. Then, you can schedule it to post for you. That way, you don’t have to stop what you’re doing just to post something.

7. Accounting and Bookkeeping

Even if you have an accountant, you should use some sort of accounting tool, like QuickBooks. You can use the app or website version, and you can input your transactions. Then, you can see how much you earn and spend each month.

If you aren’t meeting your financial goals, you can know to change something. And if you’re surpassing your goals, you can make a bigger one to push yourself farther. Either way, tracking your revenue is crucial to keeping your business up and running.

Being a small business owner can be stressful, but some business tools can help. Keep these things in mind as you start and run your business so that you can save time and money.

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Byline: Charles Camisasca helps aspiring entrepreneurs and small business owners to start and grow their e-commerce stores. He is passionate that anyone with a wifi connection and a willingness to work hard can start a successful online business. He’s the founder of The E-Commerce Boardroom and the creator of the 5 Step Framework for starting an e-commerce business.

In 2020, US Consumers spent a mind-boggling $861 Billion online. That’s a 44% year-over-year increase! Most people know that e-commerce is exploding in popularity. What you may not know is that side hustlers can take advantage of this massive trend and make money from e-commerce using a unique product launch framework. 

It’s a framework that I used to generate $28k in a single month…

And it can work for you, too. 

Today, I’ll give you an overview of the entire thing.

If you want to take a deep dive into all 5 steps – like figuring out what product to sell, choosing a supplier, getting your store up and running, defining your target customer, or marketing – you can grab my free product-launch playbook here.

The Five Question Framework For Making Money From ECommerce

The best framework for how to make money from e-commerce is called The 5 Fundamental Questions. The idea is that you only really need to answer 5 basic questions in order to start an online business.

The 5 Fundamental Questions of E-Commerce are:

1. What product(s) will I sell?
2. How will I produce that product?
3. How will I deliver that product to my customers?
4. Who is my ideal customer, anyways?
5. How will I convince my ideal customers to become repeat buyers and brand evangelists?

Seems obvious, right? The fun part comes in learning the “best practices” for answering all five. THAT’s how to start making money from ecommerce.

Let’s briefly review the different ways you can/should answer all 5 of these questions.

Question 1: What product will I sell?

One big misconception about starting an ecommerce business is thinking that you must “invent” a new product in order to start a successful online store. That’s not the case at all! Choosing a product to sell can be broken down into 2 sub-steps:

• First, Product Ideation: coming up with great product ideas that solve a salient pain point in a market that you already understand very well.
  • How it works: I recommend you follow a simple brainstorming exercise. Write down your hobbies (the things you do), interests (the things you enjoy), and skills (the things you are good at). Each of these is a potential market! Then, for each market, brainstorm the biggest frustrations, pain points, or unmet desires that you or others you know have experienced in this market. Finally, come up with a conceptual product that solves each pain point. Let your imagination be the limit! Write down as many problem-solving product ideas that you can dream up.
• Second, Market Validation: conducting market research to understand the demand, revenue potential, and competition for each product idea.
  • How it works: use tools like Aglopix and Jungle Scout to get a sense for how existing products are performing. These software programs will give you data like Total # of Monthly Orders, Revenue, and Customer Satisfaction for existing competitive products. Additionally, you can go to Amazon and search around, looking for similar products and reading reviews (especially, 1 Star Reviews) to gauge how satisfied or unsatisfied people are with the current offerings in the marketplace.

At the end of this 2-step process, you should have a shortlist of market-validated product ideas that solve a pain point in a market that you understand very well. That’s a great start! You’re on your way to making money from ecommerce. But next, we need to plot out how each product can be sourced.

Question 2: How will I produce my product?

There are really only 3 sourcing methods ecommerce entrepreneurs need to consider. Let’s briefly define all 3 and then I’ll give you some clue as to how to decide between them.

1. Make: Hand-make the product yourself.
2. Manufacture: Work with a manufacturing supplier to produce your product idea in bulk.
3. Resell: Either through Wholesaling or Dropshipping, sell someone else’s product online for profit.

Every situation is different. However, if you are just getting started here are some recommendations:

• Making products yourself is not a scalable way to build a business. However, if you are a hobbyist just looking to monetize, then this is a great way to do so.
• Manufacturing offers the best profit margin and lowest cost per unit of all three methods, and gives you the unique ability to differentiate your product and form your own brand. However, it also carries the most risk because it requires upfront investment of time and capital. Manufacturing suppliers can be best found on Alibaba.
• Reselling provides a low-risk, low-cost way to get started. With a dropshipping model, you do not need to order any products in advance. However, the downside of dropshipping is that you won’t have as much brand control and your profit margin will be lower as compared with manufacturing. Dropshipping suppliers can be best found on AliExpress.

So what should you do? If this is your first e-commerce project, get started with dropshipping. Learn the ropes and get some proof of concept for your idea. Then, you can always escalate and boost your profit margin by working with a manufacturer in the future. Here is a post with an overview on how to get started with dropshipping.

And finally, below is a table that summarizes each product sourcing method:

Question 3: How will I deliver my product to my customers?

In order to make money from ecommerce, you will need to figure out the process of logistics. Your choice is one of the 4 E-Commerce Fulfillment Models:

1. Seller Fulfilled: shipping the products out yourself. This is not advisable unless you run a small handmade products business, likely hosted on Etsy.
2. Amazon FBA: This is one of the most well-defined business models in all of e-commerce. With this program, you can send products to an Amazon Warehouse, your product will be live on Amazon.com, and Amazon will deliver your product for you via Prime 2-Day shipping. 
3. Dropshipping: With a dropshipping model, your supplier agrees to allow you to put their product on your website, and will deliver the product directly to the end customer when an order is placed. You don’t have to buy any inventory upfront, and therefore can test out new product ideas quickly and inexpensively. The best way to do this is to set up a Shopify store and use the Oberlo app.
4. 3PL Fulfillment: This model means storing your inventory with a 3rd party, who then delivers the product to your customers when a sale is made. Modern 3PLs have recently taken the market by storm. For example, ShipBob and Flowspace are great technology-driven 3PLs – meaning they integrate seamlessly with every major e-commerce platform.

Those are the 4 e-comm fulfillment models to choose from. How should you decide? Again, if you are new to this, I recommend you get started by dropshipping because it carries the lowest overall cost and risk. Then, you can pivot to 3PL Outsourcing model when your brand is a bit more established.

Question 4 – Who is my ideal customer, anyway?

Now, we pivot. The first 3 questions pertain exclusively to the structural pieces of an e-commerce business. For the final 2, we transition to talking about my absolute favorite topic: Digital Marketing.

The first step of digital marketing is having an understanding of who your target customer is. To do that, I recommend you follow these steps:

1. Define the “WHY”:
   • First, come up with all of the reasons why someone would want to buy your product. Brainstorm the “Psychographic Profile” of your ideal customer. What are their biggest desires, fears, pain points, questions, roadblocks, and aspirations? And how can your product help them resolve or achieve those things? This is key to understanding the psychology of why your end consumer would make a purchase with you.
2. Define the “WHO”:
   • Now that you know WHY someone would buy your product, it becomes a simple matter to define WHO would ever buy your product. Define the “Demographic Profile” of your ideal customer. What is their age, gender, income & education level, geographic location, ethnicity, and how do they spend their time?
3. Find existing online congregations of your ideal customer:
   • The internet has advanced to such a stage that online communities exist for just about every interest, hobby, and business market. Once you’ve defined your target customer per the steps above, it’s easy to locate their existing online communities.
   • To put this into practice, conduct a series of Google searches and create a spreadsheet listing the Facebook Groups, Blogs, Forums, Podcasts, YouTube Channels, Keywords, and Influencers that are relevant to your target customer. Take note of the audience size, URL, and contact info of each community, if it’s available.

Perfect! Now you know exactly who your ideal customer is, and where to find them in droves online. It’s time for the final step in your pursuit of making money from ecommerce…

Question 5 – How will I convince my ideal customer to become a repeat buyer and brand evangelist?

Here’s where the rubber meets the road. This topic is really the largest and most important step. In answering this question, you must learn to become a digital salesman. There is a vast amount of strategies you could employ.

In my opinion, the best route to take is not to focus on just one marketing tactic, but instead to deploy a system of strategies that work together to find leads, develop and educate them, close sales, and drive repeat business & word of mouth growth.

I call it a Systematic Marketing Strategy. Here’s an article I wrote for Zapier that talks about it. Let’s dive into the 3 components of a Systematic Marketing Strategy.

Outbound Marketing

Outbound Marketing is any proactive tactic used by a company that is designed to interrupt a potential customer, capture their attention, and present them with an offer.

The most common formulations of this are Paid Ads and Cold Outreach (cold calls and cold emails). These serve to rapidly drive growth in traffic to your site, sales, and subscribers. 

Tips for best results: 

• Experiment with ad platforms, copywriting, targeting, and creatives.
• Be sure to use a mixture of prospecting and retargeting ads. 
• Outsource key functions where you need help.

Inbound Marketing

Inbound marketing is the creation of web pages and consumable content that resonate with your target audience. With Outbound, you proactively “go after” your ideal customer. With Inbound, on the other hand, you encourage them to come to you.

The way to implement inbound marketing is to first create carefully designed websites, social media profiles, and landing pages. 

Be sure to craft these so that they quickly convey your main value proposition and are set up to capture the contact information of your web visitors.

The second step is Content Marketing. 

This involves creating…content…that is curated according to the principle desires, problems, questions, and preferred media of your idea customer. This could take the form of a blog, social media posts, a podcast, YouTube Channel, or many others.

Tips for best results:

• In web design, simplicity is key. There is no shortage of well qualified designers that you can hire to do this for you.
• For content marketing, check out the best performing content in your niche, and model off of them (but never copy!).
• Include a personalized lead magnet with every piece of content to dramatically grow your subscriber base.

Subscriber Marketing

Subscriber Marketing encompasses every piece of content you send to someone that volunteers to receive messages from you.

This typically incorporates both social media followers and email subscribers. However, of the two, email marketing is by far the most effective. Whereas social media is primarily used for entertainment, the email inbox is associated in our minds with business. 

As such, one of your business’ primary goals should be to grow your email list.

Notice how both Inbound and Outbound strategies produce email subscribers for your brand as a byproduct. 

One of the most effective strategies for long term growth in sales will be following up with these email subscribers through a coordinated campaign.

Tips for best results:

• Use social media to grow your email list. Include a link to your best landing page on your social media profile, and include a CTA in your posts to go check it out. 
• Don’t attempt to sell products in every email you send. Include a good mix of valuable content and product emails.
• Create a Welcome Series using the Soap Opera method to introduce people to your brand and make a special offer to them.

How to Make Money from Ecommerce: The Systematic Marketing Strategy

Wow. I know that was a lot. Hopefully you feel armed with the foundational information you need to get started with making money from ecommerce. And that’s the key – to start! You’ll learn far more by doing than you did by reading this blog post.

We just scratched the surface today, especially with that 5th question. But if you like what you read here, I’d encourage you to check out my site www.ecommboardroom.com, where I dive into all of these concepts in greater detail. Thank you for reading!!

Concrete Next Steps

If you want a detailed blueprint for starting an ecommerce business, check out my E-Comm Product Launch Playbook. This is the best shortcut available online to starting and scaling an online business. I used the information in this guide to do my first $100k in online sales. 

Grab yours free, right here.

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For more saving money, making money, and investment ideas go to www.MoneyAhoy.com

How to Be a Successful Investor

Are you interested in boosting your net worth? While living below your means and saving as much of each paycheck as possible is a good practice and may even help you build up a modest nest egg, there is more that you will need to do to generate substantial wealth. Money that sits in a checking account generates very little interest, almost a negligible amount, and adding to that sum through working alone will be a slow process, even if you are a well-paid professional. The path to true wealth involves generating passive income, or money that you earn without putting in effort regularly. Invest some of your savings in the stock market, and you will find that your net worth increases while you sleep. Read on to learn how to get started in the world of investing.

Speak to a Professional

If you are brand-new to investing, it can be difficult to know where to begin. Don’t just choose a fund or two and hope for the best: do as much research as you can on your own, then schedule time with a professional who can explain things further. This could be a friend or family member who is well versed in the stock market, the accountant you call each year during tax season or even a prominent venture capitalist with a track record of success, such as Mark Stevens. By getting advice from someone with investing experience and expertise, you will increase your chances of making wise decisions right from the start. If you don’t have anyone in your network who fits the bill, online courses and books which explain the basics of investing can be useful tools. You can also subscribe to daily podcasts and email newsletters that explain the day’s top stories in a way that is easy for anyone to comprehend.

Buy Low, Sell High

This strategy may seem obvious, but it rings true nonetheless. If you look up a particular company’s stock and find that it has fallen in recent weeks or months, you should consider buying a few shares, since market conditions will eventually change and the price will begin to trend upwards again at some point. Once that happens, you will have earned a profit on your initial investment. This assumes, of course, that the company in question has a relatively stable future ahead and is not on the verge of bankruptcy.

The “buy low, sell high” strategy applies in a macro sense beyond individual stocks, as well. In situations when the whole market crashes, such as when COVID-19 was first declared a pandemic in March of 2020, some investors may panic and sell their shares. In the short term, prices are plummeting, and they are afraid of losing everything. It is important to keep in mind, however, that this tactic is shortsighted. Even when the market as a whole suffers a blow and you see your portfolio become less valuable, remember that conditions will inevitably shift. As months pass, those shares will recoup their value, and you will be better off if you do not yield to panic and sell.

Invest in Companies You Believe In

When it comes to purchasing individual stocks, take a look at your own spending habits and those of your friends and family. If you or your acquaintances are loyal to a certain company, chances are, you are not the only ones. That company is doing something right, and it is most likely a safe bet that its stock will be on the rise in the near future. If you are risk-averse, there is nothing wrong with starting small: even buying one share is a good start. Then, as you get more practiced, your confidence will increase and you will eventually be more willing to make medium to large investments. Pay attention to trends in the news, on social media and out in the world to see if you can predict what the next hot item will be.

Getting started in the world of investing may seem intimidating at first, but there is nothing to fear. As with any new skill, it takes time and practice to learn the ropes and get comfortable. Try setting aside just a few hundred dollars at the beginning, and spend plenty of time learning all about the stock market before making your first investment. Remember that you should never invest more money than you are willing to lose, since the market can be unpredictable at times. Do not hesitate to reach if something confuses you or you need help. Many online forums can provide answers to any of your questions, as well as certified public accountants (CPAs) who will be able to share their expertise. Good luck on your investing journey!

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Are you interested in learning how to start an LLC for FREE?  I’ve written extensively on how to start your own LLC.  I’ve helped tens of thousands of folks start an LLC for cheap.  Now I’ve found a way that you can start an LLC for FREE.  That’s right, you can now start an LLC for FREE!

Why pay an attorney or online service hundreds of dollars when you can literally start an LLC for FREE using my special link below.  This article will walk you through step by step how to start your own LLC for FREE.  We’ve even made a video on How to Start an LLC for FREE to make it even easier on you.  So, let’s get started!

Why Start an LLC?

Maybe you are on the fence if it is worth your time to start and setup an LLC.  If that’s you, check out this quick article which explains the benefits of starting an LLC: Why You Should Start an LLC.

Let’s Get Started

If you are ready to start an LLC for FREE, click this link to follow along: Start an LLC for FREE with IncFile .  The next portion of this article will walk you through how to setup an LLC for FREE.

I discuss each option of the IncFile website as you go through to register your LLC.  IncFile does offer some upgrade options which you may find interesting or helpful.  Each person will need to decide if they are willing to pay a bit for these “extras”.  Some will want to just go bare bones so they can get their LLC for free.

Remember, click here on this IncFile link to get started with Starting Your LLC.

1) Start an LLC – Which State?

The first step when starting your LLC is to decide in which state you’d like to create your LLC.  There are pros and cons to starting an LLC in your own home state.  For more info on this to save you money, check out this article: Can I Form an LLC in Another State?

The one trick to saving money when starting your LLC is that each state has a different LLC filing fee.  This state LLC filing fee is unavoidable, and the only required expense you’ll have to undertake.  If you are running an online business, it pays to pick a state which has lower filing fees.

2) Select Your LLC Base Package

If you’re following along with our IncFile example to start and LLC for FREE, then you’ll need to pick a base “package.”  The Gold and Platinum packages have extra stuff you can consider, but these extra things are not required.  Many of the extra things they charge for you can do yourself pretty simply.  It is just a convenience factor you are paying for.  Some folks choose these just to make it easier, but that comes at a cost.

To start an LLC for FREE, you need to pick the Silver base package.  This does not have any of the frills, and is just bare bones.

3) LLC State Filing Time

If you are not in a huge rush, pick the free option.  This free option takes 5 days instead of the rush 1 day.  This will save you $50 if you are patient :-).

4) Starting an LLC – Company Information

In this section, fill out the name of the LLC you would like and just select “LLC” for the “Select Designator” field.

Pick the type of industry your LLC will operate in and then select the number of members.

Check out this quick video we created on potential risks of a creating a single member LLC.  This is something you should consider when starting an LLC if you have an easy option to add a second member (you have a business partner or are married).

Next fill out the business purpose – this can be very generic :-).

5) Should I Use My Own Address When Starting an LLC?

The next step is to decide what address to use for your LLC.  Many of us will be just fine using our home address.  However, some folks which are concerned about privacy may not want their home address published for the world to see.  Anyone can look up your LLC name and find the business address.

IncFile offers a service to “mask” your address by creating a “Professional Business Address” for ~$29 a month.  If you are interesting in saving money when starting your LLC, then you will NOT want to pay $360 a year for this service.

I have used my own address for my LLC for years and have never had any issues.  I suggest you just use your home address to save money, but the choice is yours.

6) Should I get the Premium Package When Starting my LLC?

If you want to start your LLC for free, then you obviously cannot pick this $100+ premium package :-).  This premium package includes:

1. EIN Number
2. Operating Agreement
3. Banking Resolution
4. Express Shipping
5. Business Contract Templates

While these are all helpful, you can get each one of these for free in just a couple of minutes:

• EIN Number – this is like a social security number for your business.  It links your business income to you as a person so the IRS can ensure you are paying your business taxes properly.  Save yourself money and get your EIN Number yourself in about five minutes here: IRS EIN Number
• Operating Agreement – this is recommended if you have more than one member in your LLC.  This is basically just “rules” that each member needs to follow.  You can easily google this, print one off, and get everyone to sign.
• Banking Resolution – this is very similar to the Operating Agreement.  This outlines who can withdraw money from the bank.  Same thing – google it, print it out, and get all members to sign.
• Express Shipping – have the patience to wait just a couple of days :-).
• Business Contract Templates – Are you noticing a theme yet?  You can just google for any type of contract you are looking for, print it out, and voila!  $100+ saved!

7) Starting an LLC – Defining the Members

As you’re following along with our IncFile example of how to start an LLC for free, the next step is filling out the member info.  This is very self-explanatory.  Just fill out each member of your new LLC and define them as an individual.  You can also have a company or another LLC be a member of your new LLC, but this is a bit beyond the scope of this article :-).

In this example, I make myself as the primary member and own 90% of the company.  I also setup my wife as a member and make her a 10% owner.

8) Should I Sign Up as a Registered Agent or Use a Service?

The net thing to decide is if you will be your own Registered Agent or if you will use a Registered Agent Service.

Did you create your LLC in the same state in which you live?  If so, you can be your own registered agent and save yourself $100+ a year!  Just fill out your name and address, and you’re good to go :-).

If you are creating an LLC in a state in which you do NOT live (to save yourself money on the filing fee or annual fee), then you are REQUIRED to setup a Registered Agent Service.  All states require someone PHYSICALLY in the state in which the LLC is created that can receive mail during normal business hours.

If you are going the Registered Agent Service route, then I highly recommend Northwest Registered Agents.  You can also use the IncFile Registered Agents if you find that easier.  The choice is yours.

We also created a quick video which helps answer the question: Can I Be My Own Registered Agent? if you have more questions on that.

For more details – check out this in-depth article about if a Registered Agent is needed.

9) How to Get Your Own EIN Number for Free

IncFile is now again asking if you’d like them to setup an EIN Number for your for the price of $70.  Since we are starting an LLC for FREE, the obvious answer is we want to decline this.

You can register for an EIN Number yourself with the IRS in literally five minutes here: IRS EIN Number .  We will leave it up to you if $70 is worth five minutes of your time :-).

10) Setup Small Business Banking

Here IncFile will see if you are interested in setting up small business banking through one of their partners.  These are usually big banks like Bank of America and the like.  We here at MoneyAhoy.com recommend you use a local credit union for your small business banking needs.  The choice is yours – this one doesn’t cost any extra if you’d like one of their partners to contact you.

11) Setting Up an LLC – Method of LLC Document Delivery

As one of the final steps, IncFile will ask you if you would like the LLC documents emailed to you or if you’d like to pay $25 to have them FedEx’ed to you.  Since we are trying to start an LLC for free, we will go the cheap email route.  Some folks like to have a physical document in their hands and are willing to pay a bit just to have that.  Again, the choice is yours :-).

12) LLC Tax Strategy

This option is free if you’re interested in being contacted by someone to help you discuss everything.  If you are pretty savvy with taxes, there isn’t much need to ask for help.  But it cannot hurt to check “Yes” if you’d like to have someone reach out to you.

13) Business Licenses and Permits

Here IncFile can help you setup your business license as well as apply for any other type of licenses.  The cost of this is $99.  This is a great option if you’re looking to keep things simple for yourself.

If you’d like to keep this cheap (i.e. free), then head over to your local county or city website.  They will tell you everything you need to know about business licenses and other types of licenses which are required.

Typically if you are running an online-only business, you don’t need any of these!

14) Order Review

This one is easy – just verify all your information is correct as you’re trying to start an LLC for FREE!

15) Payment Information

Here simply enter your credit/debit card information and you’re all set.  Click “complete and pay” and you’re on your way to starting you very own business!!!

Video For How to Start an LLC for Free!

If you hate reading, or you’re just a “show me” type of person, check out this quick video which walks you through all of these steps to setting up your own LLC for free:

Final Thoughts

We hope you enjoyed this detailed post on How to Start an LLC for Free!  If you have any questions or need any help, please don’t hesitate to reach out to us.  We will be quick to help with whatever info you need to start your LLC with IncFile today.

The post How to Start an LLC for FREE! appeared first on MoneyAhoy.

For more saving money, making money, and investment ideas go to www.MoneyAhoy.com