Posts – Page 5 – Launch Digital Freedom

A Blueprint to Start Your Online Business Faster

If you are starting out on your journey into the online business world, you might feel like you swimming in an ocean of confusion. The internet is filled with amazing content and no shortage of answers, except that you never get the information in a structured and organized way. In fact, often the content is too short and superficial. Other times the content is too technical without practical advice. If you want to get started you need the right amount of knowledge with practical advice. You want a logical path to follow so you can build a profitable online business.

So what is the alternative to random YouTube videos or endless Googling that just leads you from one rabbit hole to the next?

Save Time and A Learn Faster

One of the biggest problems that Six Figure Mentors solve, is the wasted time you spend searching for answers. Time is money. And why waste hours, days, weeks, and months trying to figure something out when you can scale your results quickly. There is a better way!

The way I started my journey into building an online business was through following their program and learning what I needed. It provided me the knowledge and the step-by-step plan to start building my business. It also saved me from the frustration of digging through piles of websites and YouTube videos to figure out where to start and how to be profitable.

The educational platform they offer is a great way to better your knowledge and skills on all things digital. It covers digital marketing to social media to web design. They offer high-quality video lessons that you can take at your own pace, with no stress. The lessons are easy to understand and you can then apply them to your business straight away!

My previous post on – Is Affiliate Marketing a Legit Way to Make Money?

Follow A Proven Formula for Success

As I’ve mentioned it offers you a clear path that is easy to follow even if you are a total novice. The goal of the program is to help you grow from a total notice to a functional business, and therefore the content is easy to digest.

As someone who has attempted to start an online venture a few times, it has helped me stay focused. This is a challenge when you don’t know everything. It is easy to wander from one thing to another. The clear set out steps has helped me move forward in a logical fashion learning what is relevant to my journey.

Is Six Figure Mentors for You?

The reason I signed up for their program was simple. I want to leave the high-stress work environment of Software Development and focus on building a business I can run from anywhere in the world.

But I needed a framework to build it. I didn’t want to have to guess or crawl around in the dark trying to figure it out on my own. I wanted to learn what I needed to, and get started sooner than later! Like many things in life, we procrastinate when we don’t have answers.

Six Figure Mentors offered me the answers I needed to get started!

So if you are ready to start your own online business, see How Six Figure Mentors Works and make your idea a reality!

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

Get Started

How To Find Stock Images For Your Social Media Posts

When posting on social media or even on your blog including images is a great way to add some color to your content. People respond better to visually pleasing content than they do to heaps of words without images. It is easy enough to find and add photos to your content, so why not do it? The question is where can you find high-quality stock images to use and is free from copyright restrictions? Well, there are many websites and apps available for anyone from marketing agencies to home businesses. I list a few credible sites that you can get started with.

Copyright Permissions

One important point to consider is that images are generally subject to copyright and you can not simply download any image and use it. People forget this due to the ease with which one can download images from the web. If you are a business, be cautious and make sure you can use the images without infringing any copyright laws.

Take Your Own Photos

We all have smartphones with cameras and why not take some photos of your own to add some authentic images to your blog and social media posts. It’s free, you can quite effortlessly take photos to add some spice to your content. And these photos can be edited and you can even overlay text over them, for creating your own MEMEs.

Use Stock Images

If you are looking to add photos and images to your content the best sources are from stock photo websites. They offer vast collections of images and they offer free rights to use the images. Just remember to confirm the policy of the website you are downloading from, not all are the same!

Pixabay

Pixabay is my first resource for images, and it integrates nicely into my WordPress site. It has a vast range of over 2.5 million high-quality stock images, videos, and music, covering numerous topics. I’d definitely recommend it as a great place to start!

Rawpixel

Rawpixel prides itself on having the most diverse range of stock photos in the industry! It has made it a mission to create a library of images that best represent our society at large. They also believe in making a positive impact on the world through their (one) world face project. Both Free and Premium images are available and have what they call, boards which are basically collections of images. There is a section called Public Domain, which lists images that have a Creative Commons License.

Freerange

Freerange Stock provides high-quality stock images for free and has a community of over 750,000 users. Their site includes photos, textures, and illustrations that can be freely downloaded. They state on their site that all images are “licensed for broad commercial use without attribution”. Worth putting on your list of sites to mine for images for your posts!

Create MEMEs

MEMEs can attract attention by highlighting something with an image and text. MEMEs have taken the internet by storm as they have spread through instant messages and social media. A MEME is essentially just an image with a statement. These can help grab a viewer’s attention and increase interest in your content.

Conclusion

Images are a powerful way you can brighten up your posts on social media or on your website. They are easy to find, easy to insert into your content, and are likely to increase interest in your content! So why not add images to spice up your posts starting today!

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

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How to Promote Affiliate Links on Your Blog?

Okay so you finally decided to sign up for an affiliate program. But now you are wondering what to do next? In this article, I will give you a beginner’s push in the right direction.

Get your Affiliate Link?

When you sign up for any affiliate program, you will need to receive a unique link to the product page you are promoting. This affiliate link traces transactions and allows you to gain credit for that transaction. Always ensure that your links are correct and work to ensure you receive your commission.

Plan content around your Affiliate Product

Before you just start dropping your link everywhere, you need to create content that will inform and promote the product you are promoting. It’s not enough to just create links on your site, you need to talk about the product.

Here are some ways you could promote your affiliate products:

Not familiar with Affiliate Marketing? Read more in this article How Can I Start Affiliate Marketing with No Money?

1. Problem and Solution Post

One of the best ways to grab your reader’s attention is to zero in on the primary problem that the product solves for your reader! Explain the problems that they face before they get to purchase your affiliate product. Then guide them forward to the solution, the product! What will it save them and where can they get the product! Yes, now drop your link!

2. Honest Product Review

If you use the product this will make it a lot easier for you! If not you can do your research and cover what makes this product a good investment. Explain the major benefits and features of the product. Also, share images and videos that show in a visual way how the product works.

Consider going into the advantages of the product, what it does well, and even cover what it does not do. Be objective to inform your reader the best you can to give a truthful demonstration of the product.

The more honest you are the better, as this will avoid your customers building false expectations and being disappointed when they finally purchase the product!

3. Useful Product Tutorial

Depending on the type of product that you are selling, you could create a blog tutorial. Show your reader a step-by-step process of how to use the product and its features. This is a great way for the reader to familiarize themselves with the product.

Explain this in simple ways that are understandable and show diagrams and images where possible to better visualize your tutorial for your reader. Including images or videos of yourself using the product will further solidify trust with your readers.

4. History of the Company or Product

Another way to build credibility for what you are selling is to give your reader insights into the history of the product. You can show how the product has evolved over time, and what the latest features offer. Also, you could share that the vendor has a long history in the business, and how they are at the forefront of innovation.

Want to learn How to Start an Online Business Doing What Your Love?

Get to it!

So there you have a few quick ideas to get started with promoting your affiliate products on your blog! Good luck!

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

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How to Start an Online Business Doing What Your Love?

Last week I touched on the starting point for building an online business for parents. What we covered was how to start brainstorming ideas around finding products to sell. This is important as you need to be enthusiastic about what you are doing. If you love to learn and share what you are passionate about, then it will make it so much easier to market what you do. So if you haven’t already, go and read the article: A Guide to Starting a Home Business? Today I will be expanding on that topic and discussing how to start building a digital service.

Identify Your Skills and Experience

We all have skills and knowledge that we have gained from years of work experience. Those skills can often translate into services we can market online. A great exercise to do is to list all the skills you have. Then look for either niche services you could create that are inline with your interests and passions.

For example:

Perhaps you have experience as a teacher, and love children. Maybe you could offer teaching services for children at home to assist parents. Many parents during lock-down found it difficult to manage their children’s schooling. A remote teaching service would add so much value to parents, as this would help get their children to focus on school as it is a “School Lesson”. To provide a service like this is both feasible and also has zero health risk to their children.

You could even expand this and offer classes for groups of children, either by subject, or for students in your area that follow the same curriculum. This approach could help you reach more students and help you be more productive and ultimately more profitable.

The key is brainstorming and finding different angles to how you can add value to your customer, in this case parents with children. If you can make their lives easier, and help your students learn better, you on your way to building a first-class service!

What You Need to Get Started?

Your requirements will obviously be a strong internet connection, remote conferencing software like Zoom. A website would be a great place to organize your learning material in one place and as a showcase of your services to new prospects. At least one social media page will be a great way to market your business and connect with your students and parents.

Try to setup an office where you can work and not be disturbed or where you wont be disturbing anyone in the house. The more organized your working environment the clearer you can think and more efficient you will work.

The success of a business like this would be dependent on your determination and persistence. Your current skills, knowledge and experience will help you to get started, but if you lack any skills and knowledge, you can simply take the time to learn as you go.

To Sum Up!

Play to your strengths, find a service around what you know or are good at!
Dig into how you can offer value to your clients.
Get connected and make sure you setup the software you need.
Set aside an organized work area to focus.
Start assessing what you need to do to deliver your service.

Now spread the word.

Good Luck!

8 Social Media Platforms to Promote Your Business

If you want to promote your business on social media, you might feel overwhelmed by the number of available platforms to use. I have summarized some of the biggest platforms available at the moment. There are many more platforms that offer different user experiences. Many favour different types of media formats.

Here is a list of the most popular social media platforms to promote your business:

Facebook

Facebook is the largest social media platform with a user base of over 2.8 billion monthly active users (Statistica) and growing. For this reason, it is a powerful platform to reach huge audiences from around the world, whether you are a personal or business brand.

You can easily create various types of profiles from personal profiles, business, or public figure profiles. User groups are a way for you to expand your reach and connect with people based on common interests, professions, or other topics. If you are a business looking for a very target advertising platform, then Facebook is a worthy platform to consider as you can be very specific with your ads.

Facebook is also known as one of the best platforms for building communities, for promoting both businesses and non-profit organizations.

Instagram

Instagram, which is owned by Facebook, has approximately 1 billion active monthly users (Statistica) and is one of the fastest-growing social media platforms. Instagram is primarily a visual platform where you can share images and video content. It is popular with the younger generation and is also used by many brands to build online communities around their business.

If your business or service is very visual in nature, Instagram is worth considering. If you are an artist, designer, build houses, sell products, or any profession where visually displaying what you do makes sense, consider Instagram.

Twitter

Twitter is a fast-paced social media platform that allows you to post short-form posts called tweets of 280 characters. If you have longer content you create threads where you string multiple tweets together to share longer topics. You can also share images and videos with your tweets when desired.

“As of the first quarter of 2021, Twitter had 199 million monetizable daily active users worldwide. The most-followed Twitter accounts include celebrities such as Katy Perry, Justin Bieber, and former U.S. president Barack Obama.” – Statistica.

Twitter is more fast-paced than other platforms due to its short form and is widely used for posting the latest news updates like current events. It also can function well as a personal or business micro-blog.

LinkedIn is a social media platform aimed at businesses, entrepreneurs and professionals or anyone looking to grow their professional network. B2B businesses are very active on the platform and it has seen rapid growth over the past few years.

LinkedIn has over 700 million members. “It’s not the largest of the social networks, but with a specific business focus, it’s an audience worth noticing. . .” – according to Hootsuite article.

The main use of LinkedIn is to network and make connections with professionals. You can have a personal and business profile page and can also search for available jobs from anywhere in the world. LinkedIn has also become a place where professionals share knowledge, experience and advice in their fields and can be a great source of quality industry information

Tumblr

Tumblr was founded in 2007 and is another leading social media platform. As of January 2021, social network Tumblr had 327 million unique visitors worldwide, up from 347.5 million in January 2020 – Statistica.

In a nutshell, Tumblr is a micro-blogging platform for posting all kinds of written or visual posts. Many people use this platform as a way to connect with like-minded individuals, express their opinions, and discuss cultural topics.

YouTube

I don’t think anyone has not yet watched a YouTube video, in fact, Youtube videos are often shared on other social media platforms and are the undisputed leader in video sharing. Over the pandemic, Youtube saw massive increases in usage as in-person events were canceled. Many companies held live Youtube webinars and events to make up for the lockdowns that were in place.

What YouTube allows users to do is upload their videos and share them with the world. They can also like and repost videos under their channel or profile, or only select people to view content by making it private.

According to Hootsuite “YouTube has more than 2 billion logged-in monthly users” and the range of users varies from young to old, with many parents saying their children watch Youtube regularly.

Although WhatsApp is a messaging app that many people use to send messages, share pictures, documents and send voice notes. Since it was bought by Facebook the platform has introduced various features making it an even more robust communication tool.

“There are currently more than 2 billion WhatsApp users around the globe and rising (WhatsApp, 2020). With 1.5 billion in 2018 and 1 billion in 2016, this number of WhatsApp users has been increasing at half a billion every two years.” – Oberlo

Whatsapp has the option to great groups and even setup a business profile. Recently it has added the option to make calls with multiple users, which will no doubt compete with Zoom.

TikTok

TikTok has literally exploded into popularity as a video-sharing platform. It is a Chinese video-sharing platform that was launched in 2016 but has taken the world by storm. It used to only allow users to publish 60-second videos but has now extended the duration to 3 minutes due to the demand from creators.

TikTok has become incredibly popular with the younger generation but has also started being used by businesses and brands alike to create content to market their services.

Get Social

If you are looking to promote your business on social media to build awareness for what you do, consider the type of content you want to share (written, images, or video) and then select one. Many businesses feel they have to be on every social platform, this is not true. Choose one platform that best suits your needs and grow your audience by publishing content regularly.

Good Luck!

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

Get Started

How Social Media Can Accelerate the Growth of Your Business?

Social media has become a vital part of our daily lives, and its influence is set to only increase in the future. So why is this important to you, or even your business? Well, it’s simple. Social media offers us interconnected networks where it is possible to be connected with most of the world’s population in the palm of your hand. And if you want to sell anything from products to services that’s something you might want to leverage. Yes… and it is free to use if you need a good enough reason to get started?

What is Social Media?

If you are unsure what social media is, let’s break it down.

Social media is a web-based platform designed to allow people and organizations, to share information and media, seamlessly via an interconnected network. This network allows people to find, connect, engage, share and communicate on a common platform. Where the internet allows you to find separate websites, social media brings all the people on a platform together. And this is where the true power of social media lies. In the interconnected nature of its platform.

That means if you are in the US you can effortlessly connect with people in Europe, Africa, or Asia by searching for content, people, or businesses. You can instantly interact, comment, or message a social media user. This creates huge opportunities to communicate with people from around the world.

How Brands are Using Social Media?

Social media enables businesses to share information about their products or services. And many brands have created community based initiatives to encourage interaction and sharing to gain greater exposure.

Dove is a brand that has used social media as a platform to create exposure through various social campaigns.

In 2004 they launched the “Real Beauty” campaign. Dove has used it to challenge people to not only see beauty as an aesthetic quality.

Dove launched its latest campaign in 2020 to highlight a message to look deeper than aesthetic beauty! Their campaign “Courage is Beautiful”. It was launched to honour healthcare workers that had sacrificed their time, and energy to serve others during the global pandemic.

Another way brands use social media is to encourage users to post images of themselves using the products they buy. This can further promote their products. Often these brands offer prizes or some form of recognition for their customers, which further grows brand loyalty.

At times brands have gone viral over posts they shared due to the controversial or humorous nature of the post. When this happens a brand may achieve massive overnight exposure through simple marketing campaigns.

Encouraging customers and prospects to interact with their content, brands can create greater exposure leading to greater sales and revenue!

Why is Social Media a Powerful Marketing Tool?

If you doubt the importance of social media in our lives and business just look at the numbers. Statistica states the following about the growth of social media usage in the next three years:

“The power of social networking is such that the number of worldwide users is expected to reach some 3.43 billion monthly active social media users by 2023, around a third of Earth’s entire population”

Many people consider social media for young people and question whether it is even a good strategy to use to grow their business. This couldn’t be further from the truth as both the younger and older generation are using social media to consume content, and engage with others.

Since the time of the pandemic many more people streamed to social media to not only keep updated with current affairs but also began engaging and sharing due to the lockdown restrictions which prevented us from interacting face to face.

According to Statistica not only is the number of users on social media platforms growing across the world but the amount of engagement from users as well. This has prompted brands to leverage opportunities to grow their businesses by using content marketing and advertising to take full advantage of this massive phenomenon.

“Despite the ubiquity of social networks, market potential is still increasing, as not only user figures but also user engagement continues to grow. On average, global internet users spend some 144 minutes per day surfing social networks. This prompts worldwide brands and their marketers to use that time and screen space to promote various products and services via social media marketing or social advertising.”

More organizations are investing in social media campaigns due to the massive reach and almost universal usage of the platform.

Social Media Benefits for your Business

To put the above into perspective from your business, here are some ways that social media can drastically benefit your business and complement any existing marketing efforts.

Opening a social media account is free.
It is simple to use.
You can use it on your computer, tablet or phone.
You can brand your profile.
You can post written content immediately.
People can engage and give you feedback.
You can share multimedia based content including audio and video.
You can potentially reach a vast audience.
It shows prospective customers what you are doing.
Create a sense of transparency.
Can help you promote events.
Can help you promote your products and services.
Can help you build a community around your business.

How to use Social Media to Market your Business?

There are many ways to use social media to grow your audience and gain exposure for your brand, here are a few points to get started:

Post original content about your business or industry.
Respond to customers or prospects’ comments.
Share news and content that is relevant to your business or industry.
Interact with others posts and grow your reach through engagement on other’s posts.
Contact potential customers directly.

So if you are thinking of marketing your business, seriously consider how you could use social media to grow your reach online. Start simple and grow, one post is the first step, and will start you on your journey!

Article Credits: Statistica Article about Social Media Growth.

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

Get Started

How To Start Posting on Social Media?

In my last post, How Social Media Can Accelerate the Growth of Your Business?, I discussed what social media is, and how it can help you grow your business. In this article, I will help you get started with posting on Social Media. I will share some pointers to kick start the creative process, and help you get more focused on what to post for your business.

How to start Posting on Social Media?

As you start out you may feel overwhelmed and not know where to start. The best is to start in the most obvious place.

What type of venture do you have?
Do you sell products or services?
What do most people not know about your products or services?
What is the most important product or service you sell?
What convenience do you offer your customers?
Do you offer free delivery?
Do you have a guarantee on your service?
Do you over remote services?
Are you available 24/7?

Brainstorm by asking yourself questions about the business you run and find aspects of your products and services that you can share with your prospective customers.

Another way to brainstorm ideas is to think of problems that your customers may be struggling to solve, and then show how your product or service solves them. Create a reason for them to use your products or services. It can be a motivation for them to solve their problem.

When to Post on Social Media?

This is an important question and the answer to this will depend on several factors.

Are you a local business?
What time zones are your customers in?
When is your audience most likely to engage?
What times and days do you find the highest engagement?

You might have to test this for yourself and find what works best for your business. For example, maybe you are a local business. Then best times might be 10h30 and 13h00 when your customers have a tea break or lunch. Your target audience will determine which times are best. Research and test.

Scheduling Posts to Get Ahead

One way to get on top of posting content is to schedule posts ahead of time. Many social media platforms have built-in scheduling tools that allow you to do this. This can dramatically reduce the pressure to create a post daily, as you can plan ahead. For example, Facebook and Twitter offer users the ability to schedule posts which can help you to create posts in batches.

If your social media platform doesn’t support scheduling, you can try one of the many scheduling platforms available. Some require monthly subscriptions while others are free and offer different levels of control and features. One scheduling app to try is Crowdfire. It offers a free plan for up to three social media accounts, with limited functionality, but is possibly good enough to just get started.

Get Posting!

So there you have it, a few points to get started and spread the word. See social marketing as sharing information. Make it fun! If you find what you post is informative, interesting, and enjoyable then a good chance your customers will enjoy it too. Try to balance growing awareness and interest with promotion. Any try not to fall into the trap of always trying to make a sale, this will only chase prospects away.

The key is to get started, evaluate what works, and change where necessary!

Good luck!

Get ready to Launch into CyberSpace!

With a Step-By-Step Blueprint to Guide You to Success.

Your Business. Your Terms. Online. Anywhere.

Get Started

How to Decide on a Home Business for Parents?

Over the past year, many people have been affected by the devastating effects of the global pandemic, which left millions of people without jobs. This was a knock-on effect from the limitations imposed on businesses, forcing many to close their doors. We all saw firsthand how quickly things can change in the world, and affect our financial stability. These changes forced many people to redefine what financial freedom is and seek new ways to earn and secure their money.

Many parents found themselves stuck at home without work or sufficient income. This created a need to seek out home based business opportunities leading parents to look for ways to work from home, and still be able to assist their children with their schooling.

One trend that has happened since the pandemic is that people are purchasing more online than ever before. This is what Statistica states about the trend in e-commerce over the past few years:

“Over the last few years, e-commerce has become an indispensable part of the global retail framework. Like many other industries, the retail landscape has undergone a substantial transformation following the advent of the internet, and thanks to the ongoing digitalization of modern life, consumers from virtually every country now profit from the perks of online transactions.

As internet access and adoption are rapidly increasing worldwide, the number of digital buyers keeps climbing every year. In 2020, over two billion people purchased goods or services online, and during the same year, e-retail sales surpassed 4.2 trillion US dollars worldwide.”

Statistica goes on to explain the impact of the Pandemic on online retail:

“In June 2020, global retail e-commerce traffic stood at a record 22 billion monthly visits, with demand being exceptionally high for every-day items such as groceries, clothing, but also retail tech items.”

The pandemic and the global lockdown has motivated a massive shift in the economy that has changed the way we work, do business, and how our children learn.

The biggest challenge has been for parents working from home and having to educate their children. This has been both a challenge and an opportunity to find new solutions to new challenges.

It is a great time for anyone looking for opportunities to earn an income online. Everyone should start investing in digital skills and knowledge. The better you understand the digital world, the better you will understand how to build a business online. You will be in a stronger position to adjust to the strong digital transfermation that is taking place.

Where to Start?

There are a few ways to approach this answer. The simplest place to start is to list your passions and experience.

Let us dig into this question a bit deeper.

Start with Your Passion?

The easiest place to start is with things you passionate about? I will use an example to help you follow the process of establishing what your interests are, and how to dig deeper into those interests.

Lets say you have an interest in health and wellness. You might enjoy learning and sharing health tips to positively impact peoples lives.

Find sub-categories of your Passion

Now that you have settled on a passion, start brainstorming the various aspects of your passion. Break down the subject into sub-topics and exploreit further.

Healthy Foods
Supplements
Exercise Advise
Coping with Stress
Herbs
Treatments
Natural Remedies and more…

Once you’ve broken down the topic into sub-topics, take some time to research each one on Google, and see what products and services are available online. This will give you some perspective on what other people are doing.

How could you monetize Your Passion?

Once you have your lists, start brainstorming what products or services you could sell within each topic and sub-topic. Again, you might have to take some time to research this deeper.

For example, one of our sub-categories is Supplements. So you could find products that you’ve used or interest you and list them as possible products to sell or promote.

In this way, you could slowly structure a business plan around an interest you have. Once you have an idea of what field of interest you want to build your business around, you can then research the demand around those products. If your interest is something very unusual that isn’t in high demand, you might find it harder to grow your business.

Once you’ve decided what you want to do, the next big question is:

Are you going to create your own products?
Are you going to sell vendor products from an online store?
Are you going to promote affiliate products?

Depending on how you answer these questions is going to take you down a different path.

If you going to create your own products, the next question is:

Are you selling a digital product or a physical product?

PHYSICAL PRODUCT

You going to need to have to figure out the costs involved in creating that product in the volumes you need.

What kind of capital will you need to create your first amount of product?
You will need to know how profitable it will be to produce your product.
You need to know who your competition is and the demand for such a product.
You will need to know what the cost of shipping your product will cost.

Essentially you will have to do a lot of research and make sure you have the numbers in front of you and will need money upfront and take on all the risk if your business fails.

DIGITAL PRODUCT

What kind of digital product do you want to create?
What skills do you need to create your product?
Is it content based product?
Does it require coding and advanced technical skills?
Or are you selling your knowledge or skills?
What kind of capital will you need to create this product?
What is the possible sale price of your product?
What is the demand for your digital product?
How will you distribute your product?

You will have to do research to determine the viability and how to position your product against your competition, the deeper you go the better prepared you’ll be.

If you are ready to take action to build an online business I would highly recommend Six Figure Mentors, designed to help guide you through building your own business online with a step-by-step blueprint.

Good luck!

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How to spend your money to grow your wealth?

Unless you have unlimited financial resources, which is unlikely, you will no doubt find yourself reaching limits in the amount of money that you have available to spend. All of us have a salary or income that has a ceiling. This means that what you spend your money on, is probably the single most important choice you have to advance our financial independence. Every day, month, and year you have expenses that have to be paid. Some are fixed and others are variable. This will affect the amount of money you save or whether you even have any money to grow your wealth.

Make sure you have a budget in place, if you not sure where to start, check out our article: 8 Ways a Budget Helps Achieve Financial Success.

Assess your expenses and the value they add?

In order to control their finances, most people will resort to reducing their expenditure as a strategy to create savings. The problem with this methodology is that 9 times out of ten, by cutting expenditure you might well create a shortfall in another area of your life.

For example:

Let’s say you decide to cut spending on your mobile phone. So you cancel your contract and migrate to a pay-as-you-go service. Initially you save the dollars you were spending, but now you find that on your pay-as-you-go service, you have less capacity to communicate. On top of that, your costs are higher when phoning or using data.

This can happen for a variety of different expenses. This is why it is important to calculate the cost-saving vs the alternative cost for not spending on that service or product.

Another example:

You decide to move to a cheaper residence. It’s further from your work and from your children’s school. On paper it looks great, you going to save a packet of money. Then you move to your new apartment. Suddenly you see your fuel costs skyrocket. You didn’t factor in all the additional trips and extra driving required to do what you would usually do for less in less time.

Do a cost analysis before making financial decisions

The key is comparative cost analysis is to determine if your cheaper option is truly cheaper! There are always hidden costs and these need to be assessed or you might just find yourself spending even more than you budgeted.

If you decide to reduce expenditure on anything, assess how will this affect you. If it is a non-essential product or service you can live without, drop it! If you going to incur more costs in the long run by saving a buck now, then its not worth doing.

Ask yourself the following questions:

Do I need this product or service?
What will it affect if I don’t spend money on this?
What is this expense saving me in other areas?
What expenses will I incur by not having this?

Identify whichever expense you can live without and remove them from your list. Then consider investing the savings into areas where you need to build better resilience.

What other strategies could you use to build financial stability?

One option is, instead of obsessing about saving money, spend your money on things you know you always need. You know there are monthly expenses you cannot live without. Expenses like food and groceries, pet food, school fees, or whatever is an essential expense.

Instead of operating from fear and trying to save, focus on spending your money on what could save you down the line. Purchase more items you can’t live without.

For example:

You purchase one jar of coffee each month. So this month buy 2 or 3. Then do the same on other items you can afford, start small. The key is getting ahead of your expenses, you can’t get away from spending money, so use it to leverage capacity.

Wealth is not purely about how much money you have in the bank, wealth goes deeper than that. It is about capacity and what you can do:

How long can you live without needing income?
How long can you live on the resources you already have?

By being ahead of your expenses will give you the room you need to deal with the bigger financial issues, like paying up any debt. It will also allow you to save up for larger financial goals you might be working toward.

Break down your expenses into two sections:

Fixed Expenses: Expenses like rent, home loan, policies, etc. that have a fixed monthly amount

Variable Expenses: Expenses like groceries, fuel, entertainment, etc. that can fluctuate.

Now assess your variable costs and find opportunities to invest in areas that are critical.

Categorize your expenses from high to low.
Start with the lowest expenses first.
Assess which of these you could go without and commit to not spending money on them.
Now for one month invest in one or more of these items.

By investing in things you always need and having several months’ worth in stock will allow you to invest in other items next month.

You can repeat and apply this to higher and higher value items until you have grown your capacity to a point wherein a few months you can go a full month without paying for many or all of those items.

This will free up money for expenses that you are not able to currently afford. It could give you the needed sum of money to settle an outstanding account that has been pending for months!

Control Your Spending or you will Waste Money

Spending money is not the problem, we all have to spend money to purchase goods and services we need every month. The problem lies in how we choose to spend that money. If you spend it wisely and grow your investment in the things you need, you will make more money available for the things you truly want.

The true secret to growing your wealth is not necessary just increasing your income. It is even more important to evaluate how you are spending your money! Are your expenses growing your financial capacity or are you being wasteful in your spending?

How important do you thinking your spending decisions are in your progress to achieving financial success?

Want to learn more.

Check out our tips to improve your financial independence:

7 Strategies to Improve your Basic Financial Literacy

6 Great Alternative Investment Options To Supplement Your Strategy

What happens if you don’t have enough money for retirement?

How to Manage Two Jobs and a Family?

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How To Choose A Domain Name For Your Business?

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!

Are you ready to Launch into CyberSpace?

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