Do you ever wonder how people build a million-dollar business without employee?
Building a business without a single employee is one of the old and popular types of business. We call it a sole proprietorship, individual entrepreneurship or proprietorship.
In fact, there are around 25 million of no employer business in the United States in 2016 and this number increases every single year.
However, what’s been booming over the last decade is the online entrepreneurship or the online-based businesses.
The technology in this generation has become more advanced not at least in the e-commerce or online-based business in general.
If you are looking for a quick-rich-online business, then feel free to navigate further, as this post will not provide you anything like that.
So, let’s get started…
Building A Million Dollar Online Business With No Employee (5 Steps)
Why Build An Online Business?
Before walking you through on the how-to-part, let’s quickly take a look at some statistics why you would want to build an online business and why it’s a great opportunity.
- 1.79 billion people shopped online in 2018.
- 64% of Americans still opt to buy in-store from buying online, all other factors being equal. In contrast, millennials now make 60% of purchases online.
- 92% of US retail sales still happen offline but eCommerce sales have steadily risen since 2007.
- Global eCommerce sales are expected to reach $4.8 trillion by 2021.
- Amazon sales account for 40% of US eCommerce.
- 88% of consumers research online before making a purchase—whether that purchase is online or in-store.
Online shopping has become easier and safer today and that global eCommerce sales are expected to rise every single year. And whether you like it or not, internet-based businesses will tremendously take over the global entrepreneurship.
So, start building your own online business and take a part of this trillion dollars online industry.
Requirements Of A Million Dollar Online Business
Success doesn’t come automatically even on an online-based business. In order to build a million dollar online business, make sure you are ready and willing to do what it takes to become successful.
A million-dollar business doesn’t happen overnight, so expect hard work in all phases of this business.
The success or failure of a business depends on its owner. If you want a million dollar online business, make sure you know the qualities of a successful online entrepreneur.
1. Disciplined – you have a work disciplined and well-structured work plans. You follow and track your own work plans by setting deadlines for each task.
2. Confident – you don’t doubt yourself. You don’t question about whether you can succeed or worthy of success. You confidently work hard in building a successful business and you know you will get to where you want to be someday.
3. Open Minded – you see opportunities in every situation.
4. Self Starter – you know you are the boss of your own. You set your own goals and you vigorously make sure that your projects follow the path to success.
5. Competitive – you always want an edge over your competitors by continuously improving yourself and your business.
6. Creativity – you always find new ways to get better and better.
7. Determination – Failure is not an option and defeat is never a hindrance for you. You don’t stop until you succeed.
8. Strong communication skills – you can communicate with anybody and you can help anyone who seeks advice from you. Written communication skill is a must for an online business but you don’t have to be very professional.
9. Strong work ethic – you follow your own schedules and deadlines and you respect your own goals.
10. Passion – you genuinely love your work and you don’t mind working extra hours in the night just to make your business succeed.
If you believe you have what it takes to become a successful entrepreneur (Or willing to become one), then don’t wait any longer, get started with your online business.
Building an online business is not that hard if you know to do it right. If you are a newbie or if you are tired of wasting time trying to get all things together, then an online entrepreneurship training (FREE 10 Modules) is what you need.
So, let’s move on to the 5-Steps In Building A Million Dollar Online Business.
Step 1: Find Your Own Business Niche
According to Pofeldt’s research, million-dollar solo-businesses typically fall into six categories:
- E-commerce
- Manufacturing
- Informational content creation
- Professional services and creative businesses
- Personal services firms offering expertise
- Real estate
E-commerce and Informational content creation are the most profitable online businesses you could be leverage with if you don’t have any specialized skills or physical product and if you want a complete online-based business (no personal contacts).
Whether you choose e-commerce or informational content creation for your online business, you need to find your own business niche.
A business niche is basically what your business will be all about. This must be something you love to be working with – a hobby, a talent, an interest or even a skill.
A niche doesn’t necessarily have to be a very unique one. The most important thing is, once you chose your own business niche, you focus on it.
Focus is the main key to online success. You don’t want to be building 5 websites with different niches all at the same time as you’re focus will be divided. Instead, choose a niche that is expandable.
For example, if you chose camping as your business niche, then focus only about camping – camping tips, camping equipment, camping places, and the likes.
Get My Free eBook with 6-day email course below. Within the 6-day email course, I provided 100 profitable niches you could choose.
Step 2: Build A Beautiful Website
Don’t be afraid of building a website. This step is not that technical any more today, in fact, you can build a website within 3 minutes.
Building a beautiful website doesn’t have to be very fancy. In fact, all you need is a very simple website with a very reader-friendly text and nice images.
And don’t worry about images if you don’t like take pictures, because there are a couple of websites which offer royalty-free images that you can use to your website.
I personally use a very good platform from Wealthy Affiliate. It has over 1,000,000 royalty-free images and they are automatically optimized. The platform is called SiteContent. See how it works here.
Step 3: Put Valuable Contents In Your Website
In this article, let us assume that you choose the information content creation as your online business. I do personally prefer this type of online business because it is the easiest way to building passive income with your website.
Blogs are the perfect examples of informational content creation.
The contents should be something very valuable for your readers. These could be tips, tricks, hacks or techniques that can help your readers solve their problem.
Creating valuable contents can be a challenging task to do every day.
- Make a writing schedule – could be a weekly or monthly schedule.
- Set a writing goal – i.e. 3 articles a week or 12 articles a month.
- Make a topic list once a week or once a month and set deadlines for each article.
- Explore about the topic what you would be writing about and write at least 1000 words per article.
- Check the grammar and spelling before publishing your article. Grammarly is one of the popular free software that bloggers use – you may want to check it out.
Read the Frequently Asked Questions in Making Money From Blogging Here.
Step 4: Monetize Your Website
Affiliate marketing is the most applied way of creating passive income with an online business.
Affiliate marketing in a nutshell:
- Write a valuable content
- Recommend an affiliate product
- Earn commission when your readers buy this product through your affiliate link.
Get My Ultimate Guide With 6-day Email Course And Get Started With Your Online Business
Step 5: Outsource And Automate Your Business
This step is actually very important if you want to expedite your success in building a million dollar online business.
When your online business starts earning money, you may want to reinvest your earning to your business by outsourcing your contents or some other online tasks like social media management.
Imagine if you can write 12 high-quality contents in one month, you could be publishing more contents into your website by outsourcing them. You can get a very good writer at Fiverr.com and pay a small amount of money.
Let’s say you invest 5 articles per week. That’s another 20 articles per month for your website!
Some online entrepreneurs hire virtual assistants and regular writers for their businesses.
Why do you need a lot of valuable contents? This is how you attract a lot of visitors to your website. Your visitors are your leads or potential buyers to your recommended products/services that you recommend inside your contents.
Step 6: Keep Going
Keep going. Stay focus. Keep providing valuable contents to your readers and followers. You eventually build your personal brand over time.
Your readers will see your sincerity in providing answers to their problems and they will trust you and your recommendations.
Again keep going. Nobody can build a million dollar online business overnight, so be prepared for the hard work and never stop along the way.
Only when you stop is when your journey stops in this industry. As long as you don’t stop, you will get there where you want to be.
Read More:
Frequently Asked Questions – Making Money From Blogging
130 Websites That Pays $50-$3,000 Per Post
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