HOW ENTREPRENEURS ARE USING THE INTERNET TO THEIR ADVANTAGE
Currently, a large majority of people work as employees for a larger business, essentially as a cog in an overall machine meant to keep things simple and cash flowing. As time marches on, the barrier to entry for making your own business has become lower and lower, thanks to sophisticated online options for running your own business. What used to be relegated solely to those with massive amounts of resources on hand is now accessible to someone in their own home with only a laptop and an Internet connection.
To best illustrate this trend, here are a few ways entrepreneurs are making money online:
At its simplest, affiliate marketing is simply directing customers to a specific business so they can make use of their services. For their efforts, marketers are rewarded with a percentage of each sale. In this way, an individual is essentially part of the advertising and marketing wing of a business and are compensated based on performance instead of a fixed salary. It can be as simple as making a website that links to another website where the sale is made to advanced and far-reaching influencer type of behaviour on social media. The businesses that pay their affiliates make use of affiliate programs that make keeping track of sales and paying their affiliate simple, while these marketers reap the rewards.
For those who don’t want to be an affiliate and would rather operate as a reseller themselves, dropshipping is an attractive option. Many payment processors such as paymentcloud now exist to handle payments directly for someone with a site, which is then forwarded to another business that fulfils the order. How dropshipping works is that shipping information is first provided to the seller, and then forwarded to the business that holds the stock being sold. They then ship the product to the customer, and the sale is complete. In this way, an entrepreneur doesn’t need to worry about warehouse space, stocking the product themselves, or shipping. They use the Internet to facilitate everything, from receiving payment to the customer receiving their item, all with relatively simple software.
While some consider this a form of affiliate marketing, selling leads is yet another way entrepreneurs are using the Internet to their advantage. Someone who sells leads has found a way to capture the information of people interested in a specific product or service and then forwarding that information to someone else in that industry. How lead selling differs from affiliate marketing is that no sale is necessarily needed. Marketers are compensated solely for directing interested parties to the service in question. Typically, they charge a flat monthly rate that corresponds with the potential increased earnings from these leads.
All of the above options have been sufficiently monetized by people from all walks of life, and the rewards range from supplemental income in the form of a side hustle to a full-time job that pays just as well as any other. Essentially, by using very commonplace resources, someone can learn the ropes of a business and become a player in their own right, thanks to increases in consumer technology.