In the old days, well, pre-internet age at least, the world was a different place. Going to the shop meant you would visit a local store and buy what you needed. Today you have the internet, and that has lead to a radical change in how you search, find, visit and finally purchase goods and services. You now build virtual businesses on a domain, which is a digital place where you place your website and this allows anyone from anywhere to immediately find your business!
What is a domain?
A domain is what you type into your web browser to go to a website. The full domain name of this website is:
launchdigitalfreedom.com
You also have what is called your TLD (or Top-Level-Domain) which is the last part of the domain, in our case:
com
There are many TLD names you could use for your domain, for example, if you operated a business in South Africa, your TLD could be :
co.za
The [co] stands for commerce.
And [za] stands for South Africa.
There are more and more Top-Level-Domain names being added, here are some that you might or might not have seen:
.art
.law
.biz
.info
.app
.dev
.coffee
and many more.
How to Choose a Domain Name for Your Business?
If you are starting an online business or even looking for a domain to setup a website for your local business, it is well worth having a look for available domain names with different TLDs.
This might help you stand out and if you select a clever domain name it could also become a great way to market your business as it is easy to remember or even just quirky, to grab people’s attention.
Another important consideration is using keywords that hold high ranking value in your domain name. This could offer your business an advantage over other domains if your website has good design and you apply proper Search Engine Optimization tactics to your content.
It’s a good idea to spend time thinking about how best to structure your domain name, and what other companies are using the same name on different TLDs. This will give you an idea of who your possible competition is if those businesses happen to sell the same products and services that you.
Where Do You Register A Domain?
Okay, so you ready to start doing your research and find the right domain for your business, where do you go?
Well, most internet service providers offer domain registrations and hosting, and its as simple as going to their website, and going to their domain or hosting pages and searching up domain names you have decided on.
They will be able to tell you straight away whether or not a domain is available. You will be able to immediately claim the relevant domain, but I suggest you don’t postpone purchasing it for too long, as domain names are in high demand. They are being registered all the time, the longer you wait the more chance you might just lose out on the opportunity to register the name you want.
Conclusion
Once you’ve registered your domain name you are ready to start planning your website and building the digital building that will house your content about your products and services. So don’t hesitate and register that domain you’ve been wanting to buy and start working on your new online business!
Everyone dreams of the “ultimate financial freedom” and making money while not working. It’s a dream we’ve all had, and well, probably constantly have! Unfortunately, many people online have realized this and take advantage of people, trying to sell them get rich quick programs. Today I will discuss affiliate marketing and how it can be a source of passive income. The truth is that to gain passive income you need to have invested in something! The money must come from somewhere and it can’t just fall out of the sky! There has to be some real value invested somewhere to gain a return.
Examples of passive income:
Dividends from stocks you’ve invested in.
Rental income from a property you own.
Profits from a business you own but don’t run directly.
Profit from renting goods you own.
Royalties from books, music, or any other intellectual property.
Income from ads generated through viewing your videos on YouTube.
Commission earned from promoting affiliate products.
Each one of the above examples is a passive income source! But as I’m sure you realize, none of these are get-rich-quick solutions, nor are they going to pay out income overnight. You have to put the time, money, and effort in to see a return down the line.
One of the ways to build passive income through the internet is by promoting affiliate products. It still requires, time, effort, and money but, requires far less than any of the other passive income strategies.
What is Affiliate Marketing?
Affiliate Marketing is promoting other people’s products in return for a commission. So when a visitor clicks on a banner promoting a product and purchases it from the vendor, you earn a commision.
Instead of selling the product directly to customers, you are acting as a gateway to the vendors products.
For example, one of the products I use myself is Six Figure Mentors. It is the program I have been using to help me build my affiliate marketing business. This program offers me many resources that I find incredibly useful and has saved me a stack of time.
It offers me educational resources for learning how to build an affiliate marketing business. It gives me a blueprint to help me design my business from zero to profitable! It also offers me a mentorship program to encourage and guide me through the process.
So because I am using this product and it has helped me start my online business, I am able to share with you what this program is about and that I have found it indispensable.
The question is:
Are you ready to commit to building a successful online business that can earn you money from anywhere, at any time?
Are you ready to start building a business on the side or even full-time?
Where do you start?
If your answer is yes, and you want to change your financial path, make a start and sign up for a business program that can give you the tools and resources to start building an opportunity to earn money online!
A lot of people either do not earn enough money to live or are not fulfilled enough by what they do. Or both! In either case, they have two options. Accept it, and reduce living expenses, or utilise their spare time to escape the “trap”. The latter can be considered a side hustle. We are here to take a dive into what it is all about and how to do a side hustle success.
Side Hustle Meaning?
There are two kinds of work outside your job. They can be classified as moonlighting and side hustle. Moonlighting is usually working for another employer. A side hustle is typically something you build on your own or a piece of freelance work. Often, it’s a start-up.
Both can be tricky to navigate with your current employment. The way to deal with it is to see all your pieces of work as part of your Business. And remember that the number 1 client is the one who pays the most. In the beginning, it will be your full-time work. Never use their time or resources to work on your side hustle, and always prioritise their work.
Is a Side Hustle Worth It?
Everyone has different circumstances. It’s best to put this into a pros and cons list.
Chalkboard drawing – Measure of Pros and Cons
PROS
Benefit Your Day job Believe it or not, it can help you with your current job. If you know you have something else to do, you will find ways to get your day job done more efficiently. This has a knock-on for you to spend your free time focused only on your side hustle. Also, the soft skills you learn in your side hustle can complement your day job. Perhaps leadership skills learned can be implemented at work and move you up the ranks!
Money You make more money. This can be used to increase your lifestyle and savings. Who couldn’t use a little extra anyway?
Passion Often our jobs are a means to pay the bills. We make choices when young and naïve and feel we get stuck in a none rewarding job. If you choose the right niche inline with your passion you can feel whole again. You can feel like you make a difference.
CONS
Burnout No one can sustain a 16 hour a day lifestyle for weeks or months on end. The occasional long day is not a problem. Make sure you find time for rest and relaxation.
Time You’ll have less time with friends and family. If you are going to start a side hustle, have a crucial conversation about it. Make sure your family knows your schedule upfront and what to expect of you.
Side Hustle Success Secrets
Secret 1:
Spend no money: What I mean by this is, try to find a use case first. Even speak to people who are already doing successfully. Make sure that what you are about to do really will work and get you extra money. There are lots of scams out there. I have been burned myself.
Secret 2:
Just Start: It can be slow and tedious at first. Anything new takes time to learn. You are going to want to give up. Breath and just do one thing at a time. Come up with a Daily Method Of Operation.
Secret 3:
Ask For Help: Sometimes it’s hard to ask because you feel like you should know it already. It’s simply not true. How can you know everything at the beginning? Ask for HELP. And we forget humans want to help! It’s hard-wired into us. Check out this post on how to overcome Perfection Paralysis.
Secret 4:
Limit time: You will be more creative as well as save time and money!
Parkinson’s Law dictates that a task will swell in (perceived) importance and complexity in relation to the time allotted for its completion. It is the magic of the imminent deadline. If I give you 24 hours to complete a project, the time pressure forces you to focus on execution, and you have no choice but to do only the essentials.
Secret 5:
Have fun: Even if you are just doing this for money enjoy it. It’s a journey, so make time to reflect on your successes and make time for family and friends.
Conclusion
There are countless ideas out there to start making money. My current side hustle is this blog, building an online business in marketing. 2 great resources that helped me get started in the online world.
1) Noah Kagan (Facebook employee no 30 and Founder of AppSumo) course:
Monthly 1k Course The revolutionary online course that turns ideas into businesses and businesses into goldmines.
Many people tend to ask themselves what their retirement would be like without enough savings when it comes to retirement. It can be very tough as the consequences of such failure come in plenty. Even though the outcomes may not always be disastrous, they are often saddening.
In some cases, not saving adequately for retirement can kill older adults’ dreams of still working. You can think about an individual who desired to travel across the world in their retirement but instead ended up sitting at home and watch their pennies. While many people like to save their earnings, they may not have enough for their retirement.
If you are in such a difficult situation, know that you are not alone. This article comes in handy for individuals who are about to retire. It explores different tips and aspects that can help you have enough money saved for retirement.
Signs you don’t have enough money for retirement
It takes a lot of consideration before deciding to retire. And the leading factor is the budget one has, including a carefully planned spending and investment plan for your future life. Besides, ensure you have controlled debts and a list of the period you will be spending your savings.
That said, we have identified the following signs that will tell you that you don’t have enough money for retirement, thus not ready for it.
1. You are having problems settling your current bills, such as a mortgage, rent, and many others. Retiring in such circumstances will only make things a little bit harder. Therefore, you need to re-evaluate your abilities to cover your daily expenses.
2. Plenty of debt. Becoming a retiree with numerous unsettled debts will badly strain your savings. To avoid such problems, you need to continue working until you become debt-free for a comfortable retirement period.
3. You don’t have a well-outlined financial plan, either monthly or long-term. For you to retire with peace of mind, you must have a well-thought-out plan. This is what many people fail to do, and their retirement period turns into a nightmare.
4. Failure to decide what to do with your retirement time. Usually, retirees who don’t have enough money to travel and enjoy their time become so lonely. Eventually, they end up depressed, making their life miserable.
5. Elderly parents or children still depend on you. Many people who desire to retire are always caring for either their children or elderly parents. Realistically, you can’t ignore their demands by retiring, yet you don’t have enough savings.
Not enough money for Retirement
What happens if you don’t have enough money for retirement?
Below are the consequences one is likely to face if they don’t have enough money for retirement:
1. You may continue working until you die.
2. Your family and beloved ones can become emotionally and financially stressed.
3. It becomes hard to support your kids and elderly parents at home.
4. Trade your valuables at home for other items and tiny apartments
What is the minimum amount of money to retire?
Different retirement experts have different perceptions about how much one should save for their retirement. Most of them suggest that you should have savings of about $ 1 million, up to 90% of the yearly pre-retirement income, and twelve times your pre-retirement income. But the big question is, what is the most suitable amount for you? And how can you tell if you are on the right side?
There are numerous variables one needs to consider to find their minimum amount of money to save for retirement. For instance, one may check-out for their current age and the desired retirement age or even health. The best way is to have a proper planning scheme showing amount of money you will spend on food, clothing, transportation, entertainment, health, and many others when you retire. By doing so, you can have a rough idea of how much approximately you can save.
What happens if you run out of money in retirement?
Worrying about running out of money during retirement is a significant concern for most people closer to retiring. Indeed there is a genuine reason to get concerned about. When you run out of money while in retirement, it doesn’t always mean you are cashless. It can imply that you have spent all of your retirement money savings but left with your home equity and other income sources you may be having.
And this may be a pension or social security if you had one. In most cases, individuals who use up all their retirement savings continue to enjoy and survive on Social Security earnings. Besides that, you may find others working part-time jobs. If you don’t have any backup money to sustain you, try out these options:
1. Start reducing expenses as early as possible. 2. Increase the income level by doing part-time jobs 3. Invest your little amount of money in giving rise to more money
How can I make sure I have enough money for retirement?
Planning for retirement can be a common topic in the air that leads to anxiety among many people. This is even way too far from their golden years of retirement. It is important to save enough and do the necessary things to get sufficient money for your retirement if you are working. You can adopt the following tips to ensure you don’t find financial woes in the future.
• Formulate a goal: Here, decide what your needs will be and how much you will spend. This will give you an overall figure that you can work hard to achieve.
• Invest your money in bonds, mutual funds, and stocks to reduce risk and get a safe return on investments.
• Reduce and avoid aimless spending. Be sure to come up with handy budgeting methods that may positively impact your finances.
• Get a part-time job if you have reduced responsibilities to get an extra income. Besides that, you can start running a small business to receive additional funding. The good thing with this technique is that one remains active and motivated to achieve better results. (If you want to get started on an online business now, check out this post and get started)
It can be saddening when its time to retire and you do not have enough money. This article brings out clearly the impacts of retiring while you don’t have enough money and also helps you prepare for your retire to avoid being caught up in such situations.
The biggest challenge facing anyone starting an online business is figuring out where to start. Many people want to start, but just don’t have the skills or experience to do so! They find themselves struggling because they have no structured framework to plan a successful business. And if you plan to make money in the long term, you need to have a good strategy! First, I will explain the basic principles of how people generally make money on the internet.
What is an online business?
In “principle”, an internet based business is no different from a traditional business. It needs to sell something to make money. It could be a digital product or a service. The difference lies in the nature of the business. The internet is the digital space where your business exists, and this does have advantages over a physical business.
Your laptop and mobile phone are the portals through which you and your customer connect, communicate and transact. It makes accessibility to your business instantaneous. This can make setting up your business and getting started easier than a traditional business, depending on what you plan to do.
In the digital world, your website is where your customers can find you. Its your digital shopfront. Its where you can showcase your products and services, as you would in a physical shop. It is accessible to anyone on the internet from across the world, and this is where digital businesses can have an edge over physical businesses.
Everything in cyberspace is digital, this means it is possible to monitor the performance of various aspects of your business that would be quite difficult in the real world. For example, you can monitor which exactly what products are getting the most attention, or find out where your site visitors are based. There are numerous metrics that can help you monitor your website, this can help you to gauge how your marketing is performing and adapt or change your strategy as required.
If you are selling digital products and services that means there is no need for physical delivery. This cuts out huge logistic costs and administration usually associated with delivering physical products or services to customers.
So in contrast, a digital product is immediately deliverable to your customer, and this can save time and delivery expenses. It also means you are not limited to sell to only customers in your country. Now your products are available from anywhere.
Here are some examples for products and services that you could sell online, depending your knowledge, skills, interest and resources.
Digital Products you could Sell:
Desktop Software
Mobile Apps
e-Books
Music
Online Education
Movies
Games
Domains
Document Templates
Digital Services you could offer:
Web Hosting
Web Design
Digital Marketing
Software Development
Graphic Design
Email Marketing
Video Editing
Animation
Social Media Management
Now perhaps you not sure where to start, and even though the internet is in no short supply of information, you can still find yourself running in circles! The issue is that much of the information on the internet is fragmented and all over the place. When you starting out it’s hard to piece it all together. You need accurate information that is organized in a way that leads you from one subject, to another in an orderly way.
Learning and Mentorship
The key to success with anything is knowledge and experience! You need to know the fundamentals in order to get started. You can then slowly build your experience and but confidence. At the core of your online business should be a constructive learning program, that can help you consistently develop your knowledge. This is a long term strategy that can build your skills that will always be in demand.
One of the educational tools I use is Six Figure Mentors, which is a goldmine of information. It offers access to over 6500 online courses, taught by top industry professionals. The courses are easy to digest, even for beginners and will help you develop the skills required to run your own digital business.
The courses available cover the most relevant skillsets required in the digital world, and include:
Business and Leadership
Digital Marketing
Technology
Software Applications
Software Development
Creative Skills
All courses are self paced, and can be completed when and where possible from almost any device including: Desktop Computer, Laptop, Mobile Phone, Tablet or SmartTV (if the app is available).
The interface is easy to use and has the ability to navigate effortlessly from start to finish, or even revise a chapter if you feel you need to go back. This makes it incredibly easy to access and can make the learning process more enjoyable.
I would suggest having a note pad ready and make notes so you can revise the material later. This can help you build your own summaries of the courses and help you absorb the information. Another way is to watch the courses on your phone and make notes on your computer which you can build into a resources for yourself. You can refer to it, and add to it as you learn more.
If you make time to do this weekly, you will soon build skills and knowledge you can apply. The success you achieve will solely depend on the effort you invest. If you are serious about learning new skills that can help you build your business, I would highly recommend that you invest in a learning program like Six Figure Mentors.
Not only does it offer learning courses but also gives you a blueprint of how to build your business step by step, and leads you through the process. Most of us don’t start because of fear, and often we are fearful because we don’t have all the answers. That is exactly why a structured program that helps bring knowledge, skills, planning, and strategies together, can help you focus on what needs to be done.
Summary
Educate yourself.
Create a strategy.
Apply what you learn
Set goals.
Monitor your progress.
Adapt and Change where necessary
Be persistent!
Remember, your business is a process, it takes time, and effort, and learning!
If you are interested in learning more about Six Figure Mentors, to start working on your new digital venture, click on the “Get Started Today” below.
