“Promoting Your Business: Strategies for Organic and Paid Promotion” is an informative video by filmmaker and entrepreneur Jensen Tung. In this video, Tung delves into the easiest online business models to make $100,000+ in 2024. He shares his personal experiences and insights on choosing the right business model, marketing strategies, and finances. Tung emphasizes the importance of selecting a business that solves a significant problem, is scalable, and relatively simple. He focuses on the e-commerce business model, specifically dropshipping, and discusses the two main platforms for selling: marketplaces like Amazon, eBay, and Etsy, and having your own website. Tung suggests having your own website for full control over branding and customer data, and recommends using a .store domain for better recall, more clicks, lower ad costs, and easier discoverability on Google. He also provides a code for grabbing a domain name for 0 cents for the first year. Tung further explores the importance of branding, targeting a specific market, and the two ways to promote a business: paid promotion and organic promotion. He emphasizes the need to focus on profit rather than just revenue and offers examples to illustrate this point. Tung concludes the video by sharing how he made his first $100,000 online through multiple businesses, inspiring viewers with his success story.

Choosing a Business Model

Choosing the right business model is crucial when starting an online business. It determines the success and potential growth of the business. There are three important factors to consider when selecting a business model: solving a big problem, scalability, and simplicity.

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Solving a big problem

The first factor to consider when choosing a business model is the ability to solve a big problem. The bigger the problem, the more potential there is to make money. To make $100,000, it is important to solve a problem that is worth at least $100,000 to a market of people.

For example, selling amateur paintings of cats may be priceless to the artist, but it is unlikely to generate significant profits. On the other hand, a business model that addresses a pressing issue and offers a valuable solution has the potential to generate substantial income.

It is important to be cautious of business models that promise big returns while solving a small problem. Often, these models are not sustainable and may not generate the desired profits.

Scalability

Scalability refers to the ability of a business to easily expand and make more money without requiring a significant increase in effort or resources. A scalable business model allows for rapid growth and increased profits.

Digital products are a prime example of a scalable business model. Once created, digital products can be easily duplicated and sold an unlimited number of times without much additional effort. This makes it possible to generate substantial income without being limited by time or resources.

On the other hand, business models like agencies, which require trading time and knowledge directly for money, are less scalable. As an agency owner, your profits are limited by the number of hours you can work in a day. While agencies can still generate profits and reach $100,000, they are more complicated to scale compared to digital products.

Simplicity

The third factor to consider when choosing a business model is simplicity. When starting out, it is important to select a business model that is relatively simple and easy to execute.

While there are various business models that can generate significant income, some require a specific set of skills or expertise to execute effectively. For individuals without those skills, it is recommended to focus on business models that are simpler to understand and implement.

Under the umbrella of e-commerce, there are several business models that offer both simplicity and the potential for high returns. These include selling digital products, print on demand, dropshipping, private labeling, white labeling, wholesaling, and creating your own product.

By selecting a business model that solves a big problem, is scalable, and is relatively simple, entrepreneurs can increase their chances of success and reach their goal of making $100,000 or more.

E-commerce Options

E-commerce offers a multitude of options for starting an online business. It provides entrepreneurs with the opportunity to reach a global audience and generate substantial income. Here are three popular e-commerce options to consider:

Digital products

Digital products are intangible goods that can be delivered electronically. They include e-books, online courses, software, stock photos, music, and more. Digital products are highly scalable, as they can be created once and sold an unlimited number of times.

Creating and selling digital products requires specific skills or expertise in a particular field. However, once the product is created, the overhead costs are minimal, making it a cost-effective business model. Digital products also have high-profit margins, as there are no manufacturing or shipping costs involved.

Print on demand

Print on demand (POD) is a business model that involves selling custom-designed products, such as t-shirts, mugs, and phone cases, without having to hold any inventory. With POD, products are only manufactured once an order is placed.

This business model is ideal for individuals with design skills or a creative eye. It offers flexibility and allows entrepreneurs to showcase their unique designs on a wide range of products. POD platforms, such as Printful and Printify, handle the printing, packaging, and shipping of products, making it a hassle-free option for beginners.

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Dropshipping

Dropshipping is a business model that involves selling products without holding any inventory. Instead, the products are shipped directly from the supplier to the customer. Dropshipping eliminates the need for upfront inventory investment and allows entrepreneurs to focus on marketing and customer acquisition.

With dropshipping, entrepreneurs can offer a wide range of products without the hassle of managing inventory or shipping logistics. Platforms like Shopify and Oberlo make it easy to set up a dropshipping store and connect with suppliers.

Focus on Dropshipping

For the purpose of this article, we will focus on the dropshipping business model. Dropshipping is an ideal choice for beginners as it offers simplicity, scalability, and the potential for high profits. Let’s explore dropshipping further by introducing a specific product and discussing its benefits.

Introducing the ‘Bottle Brush 4-in-1 Cleaner’

For the purpose of this article, we will introduce a specific product for our dropshipping business: the ‘Bottle Brush 4-in-1 Cleaner’. This product addresses a common problem faced by many individuals – the hassle of cleaning water bottles with hard-to-reach nooks and crannies.

The ‘Bottle Brush 4-in-1 Cleaner’ is a versatile cleaning tool designed specifically for water bottles. It features four different brush heads that can effectively clean every corner and crevice of a water bottle, ensuring a thorough and hygienic cleaning experience. This product has the potential to attract a wide customer base, as water bottles are a common item used by people of all ages.

By focusing on a specific product like the ‘Bottle Brush 4-in-1 Cleaner’, entrepreneurs can streamline their marketing efforts and target a niche market. This allows for better brand positioning and increased chances of success.

Benefits of dropshipping

Dropshipping offers several benefits that make it an attractive business model. Here are some key advantages of dropshipping:

1. Low startup costs: With dropshipping, there is no need to invest in upfront inventory. This eliminates the need for a physical store or warehouse and significantly reduces startup costs.

2. No inventory management: Dropshipping takes care of the storage, packaging, and shipping process. This frees up time and resources, allowing entrepreneurs to focus on marketing and growing their business.

3. Wide product selection: Dropshipping allows entrepreneurs to offer a wide variety of products without the need to hold inventory. This flexibility provides the opportunity to test different products and find the ones that resonate with customers.

4. Location independence: Dropshipping can be run from anywhere with an internet connection. It offers the flexibility to work remotely and manage the business on the go.

5. Scalability: Dropshipping is a scalable business model. As the business grows, entrepreneurs can easily add new products, expand into different markets, and increase their profits.

By choosing dropshipping as the business model and focusing on a specific product like the ‘Bottle Brush 4-in-1 Cleaner’, entrepreneurs can leverage the benefits of dropshipping to maximize their chances of success.

Selling Platforms

When starting an online business, deciding where to sell your products is a crucial decision. There are two main options to consider: marketplaces like Amazon, eBay, and Etsy, or having your own website. Let’s explore the pros and cons of each option.

Marketplaces (Amazon, eBay, Etsy)

Marketplaces such as Amazon, eBay, and Etsy are well-established platforms with a large customer base. They offer the advantage of providing instant access to a wide audience, as millions of people visit these platforms daily in search of products.

Pros of selling on marketplaces:

1. Instant access to customers: Marketplaces have a vast customer base, which means your products have the potential to reach a large audience immediately.

2. Built-in trust and credibility: Customers trust established marketplaces, which can help increase sales and build credibility for your brand.

3. Lower initial marketing costs: Marketplaces already have a steady flow of traffic, reducing the need for extensive marketing efforts to drive customers to your products.

Cons of selling on marketplaces:

1. Competition: Marketplaces are highly competitive, with thousands of sellers offering similar products. Standing out from the competition can be challenging.

2. Limited customization: Marketplaces have specific guidelines and limitations when it comes to product listings. This can restrict your ability to customize your brand and differentiate your products.

3. Fees: Most marketplaces charge fees for listing and selling products. These fees can eat into your profit margins, especially for smaller businesses.

Having your own website

Having your own website offers full control over your branding and customer data. It allows for more customization and flexibility in presenting your products and building your brand identity.

Pros of having your own website:

1. Full control over branding: With your own website, you can create a unique brand identity and customize the design and user experience to match your vision.

2. Higher profit margins: Without the marketplace fees, you can potentially earn higher profits per sale.

3. Customer data and communication: Having your own website allows you to collect customer data, such as email addresses, and communicate directly with your audience. This provides an opportunity for ongoing marketing and relationship building.

Cons of having your own website:

1. Building and driving traffic: Unlike marketplaces, where traffic is already present, having your own website requires you to invest time and resources into building an audience and driving traffic to your site.

2. Maintenance and technical skills: Running a website involves ongoing maintenance, updates, and technical skills. This may require additional resources or knowledge to ensure smooth operation.

While both selling on marketplaces and having your own website have their advantages and disadvantages, it is recommended to have your own website for long-term success. The control over branding, customer data, and the ability to build a loyal customer base outweigh the initial challenges of driving traffic and building an audience.

Benefits of Using a .store Domain

Choosing the right domain name for your online store is important for brand recognition and discoverability. Using a .store domain offers several benefits that can contribute to the success of your e-commerce business.

Better recall

A .store domain clearly indicates that you are selling something, making it easier for customers to remember and recall your website. The word “store” is relevant and unique, which can help differentiate your business from competitors.

When customers are searching for an online store, having a .store domain can make your website more memorable, increasing the chances of them returning to make a purchase.

More clicks

In a year-long study, it was found that websites with a .store domain received 87% more clicks compared to other domain extensions. This increased click-through rate can drive more traffic to your website, leading to higher conversion rates and sales.

Using a .store domain can also result in lower ad costs. The study mentioned earlier revealed that running ads with a .store domain cost 12% less per conversion compared to other domain extensions. This means you can optimize your advertising budget and achieve better results with a .store domain.

Easier discoverability on Google

Including the word “store” in your domain can improve the discoverability of your online store on search engines like Google. The word “store” is a commonly searched keyword when people are looking for products to buy. This can give your website an edge in search engine rankings and increase organic traffic.

Additionally, having a .store domain can make it easier for potential customers to find you when searching for specific products or product categories. It helps create relevancy and improves the overall online visibility of your store.

By using a .store domain, you can enhance your brand recall, increase click-through rates, reduce ad costs, and improve discoverability on Google. It is a valuable investment for any e-commerce business looking to establish a strong online presence.

Purchasing a .store Domain

Now that the benefits of using a .store domain have been discussed, let’s explore how to purchase one for your online store. There are multiple platforms where you can purchase a .store domain, including Shopify, Namecheap, and GoDaddy. Each platform offers slightly different features and pricing options.

Platforms to purchase from (Shopify, Namecheap, GoDaddy)

Shopify is a popular e-commerce platform that not only allows you to sell products but also offers domain registration services. When setting up a Shopify store, you can easily purchase a .store domain directly from the platform. This ensures seamless integration and easy management of your online store.

Namecheap is a domain registrar known for its affordable pricing and user-friendly interface. They offer a wide range of domain extensions, including .store. Namecheap provides domain management tools and additional services such as email hosting and SSL certificates.

GoDaddy is one of the largest domain registrars and hosting providers globally. They offer a straightforward domain registration process and a variety of domain extensions, including .store. GoDaddy also provides website building tools and hosting services to help you create and manage your online store.

Offer to grab a domain name for 0 cents for the first year using a code

To encourage entrepreneurs to purchase a .store domain, special offers and promotions are often available. One such offer allows you to grab a domain name for 0 cents for the first year using a unique code.

By taking advantage of this offer, you can secure a .store domain for your online store without any additional cost for the first year. This can help reduce initial expenses and provide an opportunity to establish your brand presence without financial constraints.

It is important to check the availability of the .store domain you desire and apply the promotional code during the purchase process to ensure you receive the discount.

Availability of ‘Store’ domain

The availability of .store domains is vast, giving entrepreneurs ample options to choose a domain that fits their brand and products. Unlike other popular domain extensions that may have limited availability, the .store domain offers a fresh and accessible pool of domain names.

When considering a .store domain, entrepreneurs can be confident that they will find an available domain name that aligns with their brand and effectively represents their online store.

Overall, purchasing a .store domain is an affordable and advantageous choice for anyone looking to create an online store and establish a strong digital presence. The domain extension offers benefits in terms of brand recall, click-through rates, ad costs, and discoverability on Google. With multiple platforms offering .store domain registration, entrepreneurs can easily secure their desired domain name and kickstart their e-commerce journey.

E-commerce Website Builders

Once you have a .store domain, it is time to build your e-commerce website. There are several website builders available that cater to the specific needs of online stores. Here are three popular options: Squarespace, Wix, and Shopify.

Squarespace

Squarespace is a well-known website builder that offers a range of templates and features for creating professional and visually stunning websites. It provides an intuitive interface and drag-and-drop functionality, making it easy to customize and design your online store.

With Squarespace, you can seamlessly integrate your .store domain and create a cohesive brand experience. The platform offers robust e-commerce capabilities, including inventory management, payment processing, and order tracking. Squarespace also provides built-in SEO tools to help improve your website’s visibility in search engine rankings.

Wix

Wix is a popular website builder that offers a wide range of templates and design options. It provides a user-friendly drag-and-drop editor, allowing users to easily customize their websites without any coding knowledge. Wix also offers e-commerce functionality, making it suitable for online stores.

With Wix, you can create a visually appealing and functional online store that aligns with your brand identity. The platform provides various e-commerce features, such as product pages, shopping carts, and secure payment processing. Wix also offers SEO tools to optimize your website for search engines.

Shopify

Shopify is a comprehensive e-commerce platform that specifically caters to online stores. It is known for its robust features and scalability, making it suitable for businesses of all sizes. Shopify offers a range of templates and customization options to create a unique and professional online store.

With Shopify, you can seamlessly integrate your .store domain and leverage the platform’s extensive e-commerce capabilities. It provides a user-friendly interface, inventory management, secure payment processing, and integration with various apps and tools. Shopify also offers powerful marketing and SEO features to help drive traffic to your online store.

When choosing an e-commerce website builder, it is important to consider your specific needs, budget, and level of technical expertise. All three options mentioned – Squarespace, Wix, and Shopify – offer reliable and user-friendly solutions for creating an online store with your .store domain.

Importance of Branding

Branding plays a crucial role in the success of any business, including e-commerce ventures. It helps differentiate your online store from competitors, build customer trust, and establish a memorable presence in the market.

Targeting a specific market

When developing your brand, it is important to target a specific market or audience. Understanding your target market’s demographics, interests, and purchasing behaviors allows you to tailor your brand messaging and offerings to resonate with them.

By focusing on a specific market, you can position your online store as a trusted and reliable source that caters to their unique needs and preferences. This targeted approach helps attract the right customers and maximize sales potential.

It is essential to create a brand identity that aligns with your target market’s values, preferences, and aspirations. This involves developing a distinct brand voice, designing a visually appealing logo and website, and crafting compelling messaging that speaks directly to your audience.

A well-defined brand identity establishes a strong foundation for your online store and creates a cohesive and memorable customer experience. It sets the stage for successful marketing and customer acquisition strategies.

Organic Promotion

When starting an online business, it is important to focus on organic promotion before investing in paid marketing efforts. Organic promotion refers to strategies that generate traffic and visibility for your online store without relying on paid advertisements.

Start with organic promotion

Organic promotion allows you to build a solid foundation and establish your brand presence before investing money into advertisements. It involves utilizing various channels and tactics to drive organic traffic and attract potential customers.

Here are some effective organic promotion strategies:

1. Search engine optimization (SEO): Optimize your website and product pages for search engines to improve your organic search rankings. This involves conducting keyword research, creating valuable content, and optimizing meta tags and descriptions.

2. Content marketing: Create relevant and valuable content, such as blog posts, videos, or guides, that aligns with your target market’s interests and needs. This helps establish your brand as an authority in your niche and attracts organic traffic through search engines and social media.

3. Social media marketing: Utilize social media platforms to build a community around your brand and engage with potential customers. Share valuable content, showcase your products, and foster a genuine connection with your audience. Encourage social sharing and word-of-mouth referrals.

4. Influencer collaborations: Collaborate with influencers or industry experts who align with your brand and target market. This can help expose your online store to a wider audience and generate genuine interest and engagement.

By starting with organic promotion, you can establish a strong online presence and generate initial sales without spending a significant amount on advertisements. Organic traffic also provides valuable insights into your target market and their preferences, allowing you to refine your marketing strategies accordingly.

Emphasizing profit over revenue

When promoting your online store, it is important to emphasize the importance of profit over revenue. While generating a high revenue is a positive indicator, it does not guarantee profitability or long-term success.

Focusing on profitability involves optimizing your product pricing, identifying cost-effective marketing channels, and prioritizing customer lifetime value. By understanding and maximizing your profit margins, you can ensure the financial sustainability and growth of your online business.

It is important to analyze your business metrics and track the profitability of your marketing efforts. This allows you to identify which channels and strategies are generating the highest return on investment (ROI) and allocate resources accordingly.

Adjusting and iterating the business

Running an online business requires constant adjustment and iteration. It is essential to monitor your performance, analyze customer feedback, and adapt your strategies accordingly.

Pay attention to customer feedback and reviews to identify areas for improvement and address any issues promptly. Continuously analyze your sales data, website analytics, and customer behavior to gain insights and make data-driven decisions.

Keep up with market trends and industry developments to stay competitive and seize new opportunities. Be open to experimenting with new marketing channels, product offerings, or customer engagement strategies to drive growth and increase profits.

By continuously adjusting and iterating your online business, you can stay ahead of the competition, meet evolving customer needs, and improve your chances of reaching the $100,000 goal.

Example of Making $100,000 Online

To illustrate the potential of making $100,000 online, let’s explore an example of how an entrepreneur could achieve this milestone through multiple businesses and a focus on profit per unit.

Multiple businesses

Running multiple businesses simultaneously can be a successful strategy for generating substantial income online. By diversifying your business ventures, you can tap into different markets, leverage various business models, and mitigate risks.

For example, an entrepreneur may start an e-commerce store selling digital products, such as online courses or e-books, targeting a specific niche audience. Simultaneously, they could also launch a print on demand store that offers custom-designed products to a broader market.

The key to managing multiple businesses successfully is to prioritize effective time management, delegate tasks, and ensure each business has a clear focus and target market. By leveraging the benefits of different business models and developing multiple income streams, reaching the $100,000 milestone becomes more achievable.

Importance of profit per unit

When aiming to make $100,000 online, it is important to prioritize profit per unit rather than solely focusing on revenue. Profit per unit refers to the amount of profit earned from selling a single product or unit.

For example, an online store that sells low-cost items with minimal profit margins would need to sell a significantly higher volume of products to reach the $100,000 mark. On the other hand, a store that sells higher-priced items with higher profit margins would require fewer sales to reach the same goal.

By identifying products or niches with higher profit margins, entrepreneurs can optimize their sales strategies and focus on promoting and selling those products. This allows for a more efficient use of resources and increases the chances of reaching the desired income milestone.

It is important to analyze the profit potential of different products or business ventures and allocate resources accordingly. By prioritizing profit per unit, entrepreneurs can work smarter, not harder, and increase their chances of making $100,000 or more online.

In conclusion, starting an online business and making $100,000 or more is possible with careful planning, the right business model, effective marketing strategies, and a focus on profitability. By choosing a business model that solves a big problem, offers scalability, and is relatively simple, entrepreneurs can set themselves up for success. Dropshipping, with a specific product like the ‘Bottle Brush 4-in-1 Cleaner’, is a promising option for beginners. Selling on marketplaces or having your own website has its pros and cons, but having your own website provides more control and branding opportunities. Utilizing a .store domain offers advantages such as better recall, more clicks, lower ad costs, and easier discoverability on Google. There are various platforms to purchase a .store domain from, and special offers allow entrepreneurs to grab a domain name for 0 cents in the first year. E-commerce website builders like Squarespace, Wix, and Shopify make it easy to create a professional online store with a .store domain. Branding plays a crucial role in attracting customers and positioning a business in the market. Starting with organic promotion, emphasizing profit over revenue, and adjusting the business based on data and feedback are effective strategies for success. The example of making $100,000 online through multiple businesses and focusing on profit per unit highlights the potential and opportunities available in the online business landscape. With dedication, persistence, and a strategic approach, entrepreneurs can achieve their financial goals and create a thriving online business.

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