A quick search online will quickly reveal a whole host of articles promising untold riches and unlocking the secrets of being an online entrepreneur.
Unfortunately most of what you’ll find is simply a marketing tactic to get you to buy into a scheme or product.
This doesn’t mean that being an online entrepreneur is an impossible dream. If you’re prepared to work hard in the right direction and are aware of a few insider tips that can help bump up your earnings, you could soon be well on your way to financial freedom.
Redefine your idea of success
In many types of employment, you’re remunerated based on your efforts rather than your success. Sales executives are one possible exception but even then, someone who tries hard will be appreciated by their company.
When you’re working for yourself, there’s no-one to pay you on the back and pay you simply for putting in a lot of hours. The only way you’ll get paid is for successful results. This can mean sometimes piling in a huge amount of effort and getting very little in return – that’s just how it works.
If you are going to be thrive as a self-employed entrepreneur, your first step is to accept that there will be times when all your hard work will come to nought. Chasing up opportunities doesn’t always lead to success but the times when you achieve an outstanding result will more than make up for the disappointments.
Develop an income on the side
It’s important to have different streams of revenue to ensure that you’ll have a continuous income. Putting all your eggs in one basket is a high risk approach so having an accompanying plan for revenue is an excellent idea.
Affiliate marketing works well for this and takes minimal work. Casinos and gambling are extremely hot right now and with it comes the increase in potential for affiliate marketing. One such site is Slotsclash, which uses this method to earn. The developers made the site so that users can play completely for free after subscribing, as real online casinos are promoted through the use of banner ads on their site.
As an online entrepreneur it’s easy to get distracted by the multiple earning opportunities you see. While diversity and side-streams of income are useful, it doesn’t help to spread yourself too thinly.
Pick a few key strategies, including one low-effort one such as affiliate marketing, and focus entirely on these. Set regular review periods so you can assess progress and decide whether to continue or to scrap the idea and try something new.
This is known as the Pareto principle – 80% of what you do won’t deliver a reward, but 20% will. It’s about identifying the 20% that works and concentrating all your efforts in that direction.