Are you seeking to become a private entrepreneur? If so, welcome to Internet of Business. Digital entrepreneurship is one major way of building generational wealth. More importantly, we as private entrepreneurs can help solve a need within the marketplace. No, it isn't easy and yes, it does require work. That being said, you are working for yourself and not for someone else.
Of course, there is nothing wrong with being an employee. I know of many employees who love what they do for a living. I, too, worked as an employee for 20 years in the military. Yes, I had jobs I enjoyed and others that I hated thanks to poor leadership. That being said, there was a nagging feeling I always had where I felt like “is this is all there is”?.
You wake up, trade time for money only to re-start the whole process the next day? Employees may love their jobs but they have a ceiling on their income. I don't care how much you love what you do you can't work 24 hours a day. You and I need sleep and rest.
What is a public entrepreneur?
Private entrepreneurs are self-employed individuals who help to provide solutions to problems within the marketplace. An employee trades time for money and gets a paycheck. The entrepreneur has no guaranteed paycheck and succeeds by content and product creation. In addition, as an entrepreneur you don't have a ceiling on your income like an employee does.
Remember, most successful entrepreneurs were employees first. So, this is not to disrespect employees if you are one. In addition, employees are still earning linear income. It may be income that is tied to their time but it is still income that can be distributed strategically to get ahead. Digital entrepreneurs earn residual income by creating products that serve a need that others have.
Private entrepreneurship is where you have control over your own creation and time. You are not reporting to a boss. Also, you are not told when to report, when you can take a lunch or when you can go home for the day. Entrepreneurs are self-starters and their success is entirely up to their own work output.LEARN MORE ABOUT THE PINTEREST TRAFFIC AVALANCHE COURSE
How to Earn Passive Income as a Entrepreneur
Passive income is residual. It is income that continues to come in for having worked hard once. It isn't like the type of income you earn at a job. What happens if you stop reporting to work? Will your employer continue to pay you regardless if you show up or not? Of course not, you are only paid for the time you are at the job. Does your employer pay you for the work that other people do? No way right?
You are only paid for the work that you do. Remember, there are only 24 hours in a day. So, you have to be thinking of new ways to generate income while you sleep. It is not taught in our school systems either. I hold an MBA from Purdue University and working on a DBA (Doctor of Business Administration) from the University of Missouri-St. Louis. I have yet to have one class on how to build residual income, respectfully.
Furthermore, the topics I have been taught is how to climb the corporate latter. Of course, formal education is important otherwise I wouldn't be working toward a terminal degree. That being said, degrees can only get you so far. You don't have to have a college degree to be a successful private entrepreneur. In addition, you don't have an income cap as an entrepreneur. Your income potential is totally up to your level of motivation and drive.
Blogging and Vlogging
Two of the most powerful ways to start earning online is through blogging and vlogging. Yes, passive income does exist but not without up-front, work. The reality is there are people earning legitimate income using these two methods. The ones that are earning are all in. Furthermore, these individuals are putting in consistent work daily.
So, as a private entrepreneur you need to be seeking ways to solve a need within the marketplace. My goal here at Internet of Business is to provide you some options to help you do exactly that. I highly recommend starting your own Siteground blog. Siteground is the host of all of my websites. You can buy your own website domain for just $17.99 USD with Siteground. You will also need a host for your new blog or website which Siteground can do for you as well.
Hosting is just $3.99 USD per month or about $35.88 USD per year. Aside from these two charges, there are no other expenditures needed to operate a blog. There are plenty of free WordPress themes you can use to easily design your website.
I would recommend a paid theme such as StudioPress. Studiopress has very affordable WordPress themes you can easily download with the help of Siteground. Siteground has great customer service and can help you do this in a matter of minutes. Remember, as a private entrepreneur, you want your website to look as sharp as possible.
What is the best source of online income?
The easiest source to start earning income online is placing Google Adsense on your website. It is as simple as copying some code from Google Adsense into a WordPress widget. You will then start earning income when someone clicks on one of the ads on your website.
Of course, you will need to have some traffic coming to your website in order to do this. The best source I have found is to create a course using Podia.
Podia is a platform I use to create my own courses. You can create as many digital products as you wish with Podia.
In addition, they don't take any of the cut of your sale either. It is only $33 per month to use Podia.
Also, Podia handles all of the credit card transactions for you.
You can be paid directly to your bank account or through PayPal as well with each sale you make.
Below are a few additional ways to earn income with Podia…
- Membership sites
- Podcasts (can create and sell over and over again)
- E-mail marketing
- Coaching/Consultation Calls
How can I earn extra income?
There are so many different ways to earn income. What saddens me is that our school systems do not teach these ways. You are more than welcome to visit the about page to learn more about my educational background if you wish. We all have been taught to work hard for linear income. Income that is tied to our time.
People don't care how much you know until they know how much you careZig Ziglar, entrepreneur
Well, there is plenty of money to be made but limited time. Why haven't we been taught how to make money work hard for us? In addition, how to earn passive (residual) income instead? Income that continues to come in for having worked hard once? Your role as a private entrepreneur is to be a producer, not just be a consumer. So, solve a need or desire that someone else has. How can you solve a problem someone else has is key.
Creative ways to make money
- Create a course around a topic you know using the Podia Platform
- Start a YouTube channel (it is free to do this but you need 1,000 subscribers and 4,000 hours of watch time to get your channel monetized)
- Invest in real estate with additional income you have saved up
- Use softwares like TubeBuddy and KWFinder to find the right keywords to vlog or blog about
- Become a Freelancer on Fiverr (there are people around the world who will pay you to help them with various tasks)
- Start an ETSY shop (sell digital as well as physical products to other people)
- Be a consultant and have people pay you for your advice and consultation
- Start your own blog. Blogging can help build your brand and more potential customers to find your website. Remember, place their needs before your own. Worry about what you want, second.
- Start your own home based business. You can build income by helping other people get what they want. Health and wellness is a highly profitable niche to be a part of.
I hope this brief overview of some of the areas you need to be thinking about to be a private entrepreneur has been helpful. Again, passive income is very real but does require consistent work. Remember, content creation is essential. You need to also make sure you are writing or vlogging about specific keywords that the two sources listed above can help you with.
One of the biggest mistakes online private entrepreneurs make is create content around keywords no one is searching for. So, make use of the two tools I have mentioned in this post. You will be far more successful as a content creator if you do.LEARN MORE ABOUT THE 6-FIGURE BLOGGER COURSE