Articles on building an online business

An online business sells its products or services on the internet, like courses, memberships, coaching, events or affiliate offers.

Many run with a small team, or just one person.

It can serve people anywhere, and you can run it from anywhere.

Mine has let me live in 18+ countries since I left Sweden in 2014.

The creator economy is the system where independent content creators monetize their knowledge, skills, and passions directly from their audience without traditional gatekeepers.

It encompasses everyone from YouTubers and newsletter writers to course creators and podcasters who build businesses around their content and communities.

To start an online business, you typically need a business idea, a website or platform to sell on, a payment method for transactions, and a marketing strategy.

Borrow other people's audiences first: interviews, guest posts, partnerships and virtual summits.

That's how I started: my first virtual summit made over $5,000 on the day I quit my bank job.

While some methods require specific skills (like graphic design for freelancing), many options are accessible to anyone willing to learn and put in effort.

Yes, risks include scams, fluctuating income, and the potential for investment losses.

It’s important to research opportunities thoroughly and avoid offers that seem too good to be true.

You need one place you own, like a website or an email list.

Social media is where people find you; your site and your list are where they stay.

The first 2 steps are buying an affordable domain name and getting affordable hosting.

Once you have those, not much stands in your way apart from your own resistance.

Many new bloggers have a decent part-time income within the first 6 months and a solid full-time income within 1 to 2 years.

A few reach 6 figures in their first year.

But blogging is no get-rich-quick scheme, and even if you do everything right, it can take longer.

Promote your posts on social media and in forums, guest post on other blogs, build your email list with a lead magnet, build links to your site, and host a virtual summit to grow much faster.

There are many ways: virtual summits, joint venture partnerships, online courses, premium content, memberships, coaching and consulting, affiliate marketing, masterminds, services, sponsorships, books, public speaking and physical products.

Decide what it’s about, then check the top podcasts in your category to see what already works.

Serve a clear audience with a real problem, and your monetization options open up from there.

Sell something of your own, like a course, a membership or an event, to an audience you build.

Sponsorships pay less: back in 2018, John Lee Dumas made around $50k a month from podcast sponsorships, and $200k to $300k a month from his online courses and affiliate offers.

Affiliate marketing involves promoting products or services and earning a commission for each sale made through your referral link.

AI takes over a lot of the work behind every income stream, from content and design to admin and even software.

You can also offer AI services to businesses, like setting up AI systems, building automations or training their teams.

I started my first site in 2013, and my first interview, with Pat Flynn, was timed to its launch that June.

On 28 November 2014, I quit my part-time bank job in Stockholm, and the same day I made over $5,000 from my first virtual summit.