Online business is among the most accessible ways for individuals to earn money today. Oberlo mentions that an entrepreneur's success with an online store relies on how much that person dedicates to the business. In this sense, the online marketplace can be considered very close to a meritocracy. Someone will get what they put in, but it's not always that easy. Because of how wide-ranging online services and goods are, selling the right items to the right people factors into the equation a lot. So how does one get their products in front of the right people? They learn the art of marketing and advertising from the ground up. Entrepreneur Gurvin Singh Dyal (Mr. Gurvz) is a self-made entrepreneur who believes that anyone can do the same without needing large startup capital. Here, he explains the core ideas behind developing and growing an online business.
The Revenue Streams of Online Marketing
Gurvin started as a marketer from a young age but quickly learned that there were several ways that he could make good money online. Among them are:
Amazon FBA: The Amazon FBA system is a partnership with renowned retail giant Amazon. FBA stands for "Fulfilled by Amazon," allowing marketers to get a cut of every product sold by the owner's store. It's an excellent way to market using a dedicated provider and an established network. Amazon is a reliable supplier that will get the product to the client on time, although the payout is less than other similar services.
Drop-Shipping: Shopify defines dropshipping as a retailing method where the store owner relies on a third party to supply the final product. While it's similar to Amazon FBA, there are a few distinct differences. The drop-shipper has to be more careful with their suppliers since lack of fulfillment would negatively affect the store and its owner. Additionally, drop-shipping tends to have more up-front costs, such as buying a domain and establishing a website. However, Gurvin notes that the potential for earnings is much more than Amazon's FBA system.
Affiliate Marketing: One of the longstanding ways of making money online is via affiliate marketing. Gurvin mentions that this method is his favorite because of the potential for unlimited growth. Affiliate marketing allows the business owner to get a commission for each sale of an item. Affiliate marketers can earn a lot more than traditional online marketing methods because of how many clients they can drive to the rental business's site.
Lessons From Gurvin About Business Growth and Management
Gurvin taught himself much of what he knows about business, either through his own reading or online courses that guided him through marketing and advertising. As a result, his learning isn't traditional in any sense of the word. This learning outcome gives him a unique advantage over other people since it allows him to see things that others from a traditional background may take for granted. Luckily, he set up Academy2Earn as a way to help others learn from his style of thinking. He believes that every entrepreneur should be responsible for their own financial well-being, and his course prepares them for that reality.
