Digital Entrepreneur | Mindset to Earn

digital entrepreneur
March 17, 2022
Digital Entrepreneur | Mindset to Earn

Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more information

Do you have the mindset of a digital entrepreneur? If so, welcome to Internet of Business. I am glad you have made it here.

There has never been a better time to get involved in digital entrepreneurship than now.

In fact, the costs to start your own blog and begin your journey as an internet entrepreneur are relatively low.

I started building my businesses online back in 2011. Internet of Business is one of three businesses I own.

Also, the newest. So, definitely continue to come back here for great content and resources to help you succeed. What is need to be a digital entrepreneur?

Tenacity. Yes, you have to own up to the fact that you are either going to be average, good or great when it comes to this.

No, blogging and creating digital products is not easy. Of course, everyone wants to make money while they sleep. That being said, it is an entirely different thing to make that a reality.

Why is digital entrepreneurship popular?

One of the major reasons why digital entrepreneurship is popular is that it provides leverage. Also, you don’t need a college degree or a beefed up resume to participate. Let’s face it, the majority of people are working as employees. Furthermore, they know that just getting by on one source of income is simply not enough.

So, they are seeking for better ways to earn income online. Yes, there are many people starting blogs and starting their own businesses. An additional reason is low start-up costs. A brick and mortar business owner has many expenses that a digital entrepreneur does not.

For example, don’t have to hire or fire employees. Of course, you can hire a virtual assistant to help your online business grow using Fiverr.

That being said, you can grow your online business on your own time. Also, it is a great way to build residual income. Income that continues to pay you for having worked hard once.

How can a digital entrepreneur be successful?

Be willing to persist

Digital entrepreneurs know that to be successful requires persistence. In addition, you have to be willing to commit to your goals. Remember, the majority of the world is still operating on a tired, old, Industrial Aged concept of trading time (life) for money. Money that continues to become worth less the more they print of it.

So, you have to be willing to put in the work consistently for a long enough period of time in order to succeed. You will find out some unique ways to speed up the process in this post. So, persistence is absolutely essential as a digital entrepreneur.

Utilize Systems

There are specific softwares that you must use if you want to speed up your learning curve. In addition, specific courses that I will mention that can help you as well. Remember, you always want to be thinking about how can I do this without me having to be present? Yes, you will still have to be present, especially at first, to succeed.

That being said, as your online digital business grows you can eventually automate it. Of course, you will still need to nurture the business from time to time. The good news about being a digital entrepreneur is you can work on your own time and schedule.

What do online entrepreneurs do?

Online entrepreneurs solve a need that people have via their online business. Of course, these answers can come in various forms. For example, some internet entrepreneurs create courses. Courses are a great way to teach a subject you know well to someone else. In addition, they help someone else master a topic they want to be better at.

So, internet entrepreneurs participate in a people helping people business model.

You serve others and in return, they serve you by paying you for your service. Internet entrepreneurs may also participate in affiliate marketing.

Affiliates share other people’s products with others and earn commissions for doing so. Yes, it does take time to create your own product. That being said, you can still serve others by recommending products you have used that can help them,

For example, that is exactly what I do here at Internet of Business. The products I recommend here are ones that I currently use or have used. In addition, I also share my own products that I have created as well.

Which online business is best to start?

It depends on what your goals are. There are many people who see starting a membership site as the best digital entrepreneurship product. The reason being is that it is passive (residual) income.

Remember, membership sites do take work and consistently adding new information into. That being said, as your community grows so does your monthly income.

Remember, residual income is very much unlike the linear income you work at a job. Linear income is tied to your time. What happens the moment an employees stops coming into work? Will their employer continue to pay them regardless if they work or not? No way. So, your pay is tied to your time.

Also, your employer has already dictated for you what your hourly wage or salary is. Furthermore, you have a ceiling on your income. Digital entrepreneurs to do not have a ceiling on their income.

So, there is no limit to the amount of monthly income you can make. You can start your own blog or website and add content to it.

The great news is the paths to digital entrepreneurship I discuss below have low costs. Again, we as digital entrepreneurs have much lower start-up costs compared with brick and mortar business owners.

Start a dropshipping business

You can also start a dropshipping business online as well. Of course, there are numerous other ways we will be discussing but this is a bonus tip. You don’t need a great deal of capital to start a dropshipping business. E-commerce serve a vast audience. Again, make sure you find a low competition, high demand niche to go into.

Dropshipping is where the supplier handles the shipping of the goods to the customer. In addition, they also handle the storage. Our jobs as online entrepreneurs is to focus on making the sale itself. In addition, to send the order made to the supplier so that they can fulfill it for us.

The drawback to this strategy is the supplier takes the majority of the sale. You basically get a commission or the left over of the cost of the product. Of course, if you don’t like dealing with the logistics of shipping products, dropshipping may be for you.

How much does a digital entrepreneur make?

Everyone loves to make money right? Well, the good news is that you can as a digital entrepreneur. The bad news is it will not take place in a matter of days or weeks.

You will have to accept the fact that it may take several months to years. Of course, if you are creating products and content that people are searching time can be sped up.

We don’t have a ceiling on our income as digital entrepreneurs. So, the more products you create or share the higher your chances of success.

Of course, there are other factors that come into play which I will discuss in this post. Do you work full or part-time? If so, you already know you have a ceiling on your income. Your employer has already dictated for you what you will earn more hour or year.

How does one succeed as a digital marketer?The focus has to be on the needs, wants and desires of other people. Remember, this is a people helping people business model. Can you create a product that helps solve a need for other people?

If so, you can start earning sales within this business model. I create all of my products using the Podia software. In fact, Podia also provides other benefits to digital entrepreneurs such as…

  • Webinars
  • Membership sites
  • Courses
  • Private coaching
  • E-mail marketing
  • Custom websites
  • Instant messaging with your customers

Try Podia for free for 14 days.

Why is digital entrepreneurship popular?

Digital entrepreneurship is popular because there is a high demand for digital products. In addition, it serves a major purpose, other people’s needs.

People are searching for products online that can answer a problem that people have.

Are you good at cooking or creating recipes? Do you know how to teach and make a subject that other people see as hard, easy?

Well, you are on the right path. Did you know you don’t have to create your own products? You can also utilize the power of affiliate marketing as well.

Affiliate marketing is sharing a product someone else created and earning a commission for doing so. So, when someone purchases that product using your affiliate link you earn a small sale.

Also, you can continue to make sales for years to come. No, it isn’t simple. Remember, you are working for yourself as an entrepreneur, not for someone else.

So, you don’t have that guaranteed paycheck as you do an employee. That being said, starting your own website is the first major hurdle to accomplish. I recommend you check out Siteground.

Start Your Own Domain

Digital entrepreneurs need to have a place where they can write their content. In addition, share the products they create at.

Also, the products they believe in and share with other people as well. I use Siteground for all of my websites. You can buy your domain from Siteground for only $17.99 USD per year.

Remember, buying your domain is the first big step. You will also need to host your website somewhere as well. Siteground does all of that for you. In fact, it is only $3.99 USD per month to host your website.

So, anything that goes wrong like if your website has issues they will fix them. In addition, they have 24-hour customer support and are very quick with chat.

You may consider WP Engine as well. Both Siteground. I have also used WP Engine in the past as well which also has numerous benefits.

Get a Legit WordPress Theme

Remember, you don’t have to spend thousands of dollars on a graphic or web designer. There are very affordable WordPress themes like Kadence that are available to you. Not a fan of WordPress? You may also want to check out Weebly.

Weebly also make creating e-commerce websites very easy. In addition, have a lot of beautiful and affordable themes to choose from. Once you have purchased your domain and set up your hosting with Siteground you will be set up for success.

Of course, you need content for your website. Remember, don’t write just about anything that comes to your mind.

A major mistake the average digital entrepreneur makes is not focusing on search engine optimization. So, you need to write your blog posts with a purpose. Also, utilize tools like Rank Math which will ensure your blog post is search engine optimized.

SEO

Also known as search engine optimization, is critical for your success. Rank Math will make sure you are optimizing your blog posts correctly. For example, there are certain places you need to place your keywords. Rank Math will ensure that you are in green rather than red status by the time your blog post is finished.

Below are benefits of Rank Math that will ensure you succeed…

  • Placing keyword in the title of your post
  • Placing your keyword in the URL of your post (i.e. yourwebsite.com/rank-math)
  • Sprinkling the proper amount of times you need to mention your keyword in your article
  • Placing the keyword in the slug of the blog post
  • Placing your keyword in the meta description of your post.

So, you need to learn about search engine optimization to be a successful digital entrepreneur.

Learn More About Rank Math

What are the ways on how digital entrepreneurs make money?

Affiliate Marketing

Don’t have a desire to create your own products? Why not share someone else’s product and earn commissions for doing so? Affiliate marketing is one of many ways digital entrepreneurs build income online. How does it work? Well, remember my mentioning you have to focus on the needs and desires of others?

People are searching for products that can help them answer a question they have. The beauty of affiliate marketing is everyone wins. The individual purchases a product that you share and gets to use that product. You, having shared it earn a commission if someone clicks on your link and purchases that product.

Amazon pays its affiliates anywhere from 3 to 12 percent commissions. Of course, this will depend on the product you are sharing. I have my own affiliate program for my running courses that I created. For example, my Sub 4 Hour Marathon Mastery course sells for $149. So, my affiliates get $59.60 USD every time they sell that product. In addition, I have 7 other products you can share as well.

Sign up for free to be a RunDreamAchieve affiliate.

Vlogging

Vlogging is another way digital entrepreneurs earn income online. Furthermore, vlogging is much like blogging only you are making videos. Did you know it is free to start a YouTube channel?

I started my RunDreamAchieve YouTube channel about 2 years ago. I have since made over 300 videos and continue to build it online.

Currently, I have close to 9,000 subscribers at the time of this blog post. You can share your digital products in the videos you make. For example, mentioning them within your videos.

Also, placing your products or affiliate products in the description. So, starting your own YouTube channel is a key way to start earning income online.

Remember, don’t just guess what topics to cover in your videos. I suggest using TubeBuddy. TubeBuddy helps me to figure the right keywords to make my videos about.

LEARN MORE ABOUT THE 6-FIGURE BLOGGER COURSE

Blogging

Blogging, like vlogging, is a great way to start earning income. Remember, it is essential that you utilize the softwares like KWFinder to help ensure you use the right keywords.

The key is to create your content around topics that other people are already searching for.

A common mistake far too many new online business owners make is writing about anything. Of course, they may feel it is important. That being said, what if it has no search volume?

What I see many new bloggers doing is writing about keywords with zero search volume. In addition, also keywords that are far too difficult to rank for.

Would you like to rank for the word how to earn money online? Well, that terms gets searched for 424,000 times a month. In addition, the top ranking website has a domain authority of 74.

So, I would not recommend going after such a keyword. KWFinde starts at $49 per month. Of course, the better route is to buy an annual plan and its only $29 per month. You will save $229.20 per year. I always pay annually. Remember, this is also a business tax write-off at the end of the year as well.

Get started with KWFinder here.

Start a Merch Store

A great way in being a digital entrepreneur is to start your own e-commerce business. I mentioned starting a blog and vlog above for a reason. Blogging is key.

You can add so many others assets to an online business. Creating a merch store revolved around your brand is an awesome way to bring in additional income online. For example, starting with a platform like Etsy or Shopify are great avenues to get you started off right.

There are other more professional softwares I could use such as Shopify. Shopify.com probably has the best possible platform to start your own merch store. That being said, they do charge transaction fees. So, you just have to decide which platform you’d like to utilize to build your merch store on.

Use Pinterest

Pinterest is more than just a social media platform. Did you know Pinterest is actually a search engine? A major mistake many new digital entrepreneurs make is not using this platform. I invested in the Pinterest Traffic Avalanche course and share it with my readers here at Internet of Business. I now have over 30,000 monthly viewers coming to one of my other websites.

In addition, over 15,000 monthly viewers on the rundreamachieve.com Pinterest account. I will be adding the Internet of Business Pinterest account this week. Furthermore, will be using the same strategies and tips the course taught me with this account as well. Why does Pinterest matter as a digital entrepreneur? You can potentially receive free, organic traffic for years.

So, Pinterest is unlike Twitter or Facebook. Sure, you can make a post on one of these platforms. That being said, the post you make will only last for a few hours. Likes and shares don’t last that long. Again, Pinterest is a search engine. In addition, millions of people visit the website each month. In addition, people that are seeking products to buy.

LEARN MORE ABOUT THE PINTEREST TRAFFIC AVALANCHE COURSE

Closing Thoughts

So, you want to become a digital entrepreneur? I hope you now have some better tools to ensure you are set up for success. Yes, it takes a lot of work to build your brand online.

That being said, it is worth the hard work. Again, you are working for yourself and not for someone else. So, this will be a labor of love for you.

In addition, you don’t have a ceiling on your income. So, the amount of income you generate will depend on the number of people you serve. As mentioned above, starting a website or YouTube channel is your first major step. Are you more of an introvert? Perhaps starting a blog is the better way to go at first.

You can always start vlogging later if you wish. Of course, you can still be a successful digital entrepreneur without making videos. Remember, the more revenue-generating assets you can create the higher your chances of building legitimate income online.

The following two tabs change content below.
Nathan is a 2:19 marathoner, former member of the US Army World Class Athlete Program and Doctoral of Business Administration (DBA) Candidate at the University of Missouri-St. Louis. He brings over 10 years of online entrepreneurial experience in helping people learn how to blog, earn income online and build passive income streams outside of what the school system teaches.

Latest posts by Nathan Pennington, MBA (see all)