Do you know that the United States has about 55 million independent workers who can operate and live remotely? This number is steadily increasing in the country and other places in the world. There are many reasons why people are creating lifestyle businesses, including lack of an ideal full-time job and others. According to Forbes magazine, the gig economy comprises about 35 percent of the labor force. Due to technology, people can work and live differently, enabling a digital business lifestyle.
Numerous people, particularly Millennials, are searching for more from their employment than just reporting to work. They prefer enjoying themselves as opposed to having a job that takes up most of their time during their lives. The average US citizen spends almost 90,000 hours working during their lives. So, why not make it fulfilling? With lifestyle businesses like affiliate marketing, Amazon FBA, and freelancing, you can blend your work into your lifestyle.
The companies that result from lifestyle businesses are based on the contacts, skills, and personalities of the owners. A lifestyle business is not just about a work-life balance, but it can also consider the key decisions you make in life, such as returning to school, helping a sick relative, traveling, and having more time for your family. More examples of lifestyle businesses include collecting and selling collectibles and antiques, creating handmade wooden toys, selling jewelry and ancient crafts, pet sitting, making apps, creating YouTube content, being a travel guide, mobile journalism, and more. Numerous of these businesses operate online while others are marketed via the web.
As you launch and grow a lifestyle business, it is essential to find a niche and brand it professionally. Keep in mind that you don’t have to come up with something new. You can create a successful lifestyle business by using proven business practices and teaming up with other freelancers. Co-marketing arrangements and alliances are the fuel that powers lifestyle businesses. Here are the three main business models that you can adopt for a lifestyle business.
1. Affiliate Marketing
Affiliate marketing is the provision of services and products of other companies and getting a commission for every client obtained for them by your marketing efforts. This kind of online business is performance-based, and you only make money when the company makes a sale. Working in affiliate marketing requires you to follow a variety of proven steps in creating a viable online business. These steps include picking a niche, looking up various affiliate products and programs, creating a website and offering essential content, creating an audience, and marketing your affiliate products. The affiliate marketing programs that are most popular include Amazon, Ebates, Clickbank, JVZoo, SEMRush, ShareASale, Shutterstock, CJ Affiliate, VigLink, and Bluehost. Patel is one of the people who are most successful in affiliate marketing.
2. Amazon FBA (Fulfilled By Amazon)
Through the Amazon FBA program, you can create a physical product. This is one of the business models that allow you to manufacture an anywhere on the planet, including China. The manufacturer will package the item and ship it to Amazon warehouses all over the nation. From this point, Amazon will take care of everything for you, including the selling and shipping of the goods to clients. This is the ideal digital business lifestyle. If you implement successful marketing and create an excellent product, you will be able to expand your firm and scale your brand exponentially.
Additionally, Amazon has Amazon Associates programs that allow you to make money by putting Amazon product links on your business website. Every time an individual buys an item by clicking on a product link on the business site, Amazon will pay some commission. Numerous experts in the field of affiliate marketing state that this program can help you start to make money online and have a digital business lifestyle.
Becoming an Amazon affiliate requires you to create a blog or website before visiting the Amazon.com Affiliate program page and clicking ‘Join For Free.’ You then enter your site’s name and URL, complete the application form, and go through the best practices and features that can assist you in maximizing sales. Moreover, via the BFA (Business Factory Auto) initiative, people can obtain Amazon online resources that are critical to their success. The initiative provides startups with the cheap, effective infrastructure required to expand and scale all kinds of business models. Some companies that began by utilizing BFA resources include Robinhood, Slack, and Airbnb.
Freelancing is one of the online business models that offer a great digital business lifestyle. Freelancing involves assessing what you enjoy and excel at before creating services that you can provide companies and individuals. A successful freelancer is exceptional at offering and selling their services. At times, they operate alone, and other times they recruit other individuals to assist them. They normally package their services and send short proposals to win businesses. Some freelancers use their website to have new customers sign up for their services. Examples of freelancers are writers, photographers, video editors, IT service providers, app developers, journalists, videographers, programmers, website designers, and more. For proper cash management, freelancers are advised to balance their customer load between one-time projects and regular ongoing contracts, just like other successful business models. In this manner, the income of a business owner is not tied to any one customer.
Previously, freelancers were usually seen as part-timers pursuing a side job. But today, freelancers are making a decent income by offering value and serving their customers in a personal manner. In the last seven years, freelancers who make over $100,000 grew by more than 70 percent to 3.3 million in 2018 from 1.95 million in 2011. About 97 percent of the 3.3 million freelancers who make more than $100,000 per annum are very satisfied with their digital business lifestyle.
If you are an entrepreneur who wants to enjoy a digital business lifestyle, you can pick one or all of these three business models. Even though it can be difficult to begin and grow an online business like affiliate marketing, online business models are all about freedom. Whether you want to remain in a particular location or travel, these business models will support your digital business lifestyle. In the future, lifestyle businesses are going to dominate the economy and the workplace.