Latest / Online Business Uncovered: Simple Strategies for Female Entrepreneurs / 23: Ways to make money online during challenging times

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23: Ways to make money online during challenging times · Online Business Uncovered: Simple Strategies for Female Entrepreneurs

• 0:00
  SPEAKER_00: Hello and welcome to the Digital She Does It Show.
• 0:04
  SPEAKER_00: This is episode 23, and in today's episode, I'm going to be talking about ways to make money online during challenging times.
• 0:13
  SPEAKER_00: So let's jump right in and get started.
• 0:23
  SPEAKER_00: Welcome to the Digitally She Does It Show.
• 0:26
  SPEAKER_00: I'm your host Karen and I'm here to lift the lid on what it actually takes to create a successful business.
• 0:32
  SPEAKER_00: If you are an ambitious creative ready to build a business on your own terms and without compromise, then this podcast is perfect for you.
• 0:40
  SPEAKER_00: With my award-winning approach to marketing and expert knowledge in creating online courses, this show will leave you feeling inspired, energized, and ready to bring those big dreams to life.
• 0:51
  SPEAKER_00: Join me each week for a dose of motivation and marketing know-how, along with actionable step-by-step strategies to help you accelerate your business's growth.
• 0:59
  SPEAKER_00: So let's dive in and don't forget to subscribe to all my upcoming episodes, which drop every Wednesday.
• 1:10
  SPEAKER_00: Hello and welcome to today's episode.
• 1:13
  SPEAKER_00: I'm really excited that you are joining me for this episode today because I'm going to be talking about ways in which you can make money online so that you can thrive during this time.
• 1:25
  SPEAKER_00: Now, this episode has been inspired by the events that are currently going on in today's economy.
• 1:31
  SPEAKER_00: At the time of this recording, it's the beginning of November 22, and the UK economy is now gone into a recession.
• 1:41
  SPEAKER_00: Although, depending on what news channel you listen to, that can obviously be varied because some are saying we are, and some are saying that we're heading into it.
• 1:51
  SPEAKER_00: But I think the truth of it is that we are now in a full recession.
• 1:57
  SPEAKER_00: So what does that mean?
• 1:59
  SPEAKER_00: Well, it means that we are once again in unprecedented times, and as creative entrepreneurs, we need to be looking at ways to strengthen our businesses so that we can survive and so that we can thrive during these challenging times.
• 2:17
  SPEAKER_00: Now, due to the amount of uncertainty that there is in the economy, there's no doubt it can lead to a great deal of worrying and fear, especially if you are running your own business, not knowing how your business is going to be affected or if it's going to be affected, or even how you're going to survive.
• 2:38
  SPEAKER_00: I think these are important questions to ask, and I think we need to be aware of the times that we're in and we need to respond to them in a really positive way.
• 2:51
  SPEAKER_00: Now, it's not enough just to cross your fingers and hope for the best.
• 2:55
  SPEAKER_00: We need to plan ahead and put strategies in place to help us cope with these changing times.
• 3:03
  SPEAKER_00: Now, if the pandemic has taught us anything, it's that anything can happen and we do need to be prepared.
• 3:11
  SPEAKER_00: Now I know change can feel really scary, especially if you don't know where it's going to lead, but we can also embrace change and we can use it as a positive.
• 3:22
  SPEAKER_00: There are exciting opportunities that can be born out of difficult times, and of course, yes, there are going to be businesses that will be impacted.
• 3:31
  SPEAKER_00: However, just by shifting your mindset, it doesn't mean that that business has to be you, and you can take back control and use this time to your advantage.
• 3:44
  SPEAKER_00: There were lots of new businesses that were born out of the pandemic because new opportunities arose, and there were people that were ready to really step into that space and to create businesses at a time when everything was on its head.
• 4:04
  SPEAKER_00: So whilst yes, we are in a recession, it doesn't necessarily mean that it has to be all doom and gloom.
• 4:14
  SPEAKER_00: I believe that tough times are often sent to test our resilience and our agility.
• 4:20
  SPEAKER_00: It's not what's happening that matters, but how we deal with the situation and what we do to get through it.
• 4:26
  SPEAKER_00: We can either shut down and give up, or we can fight back and prove that resilience and determination wins every time.
• 4:33
  SPEAKER_00: Now, how many of you thought that you wouldn't get through the pandemic with your business intact?
• 4:38
  SPEAKER_00: And yet here you are, carrying on the good fight, and business is normal.
• 4:44
  SPEAKER_00: This is because when all said and done, you just weren't prepared to give up, and now is no different.
• 4:51
  SPEAKER_00: We need to stay focused and we need to connect to our goals more than ever because the visions that we have for our future is what will get us through.
• 5:00
  SPEAKER_00: Now it's definitely not the time to give up or scale back.
• 5:04
  SPEAKER_00: In fact, now is the perfect time to dream bigger and to invest more time and energy into making those dreams become reality.
• 5:12
  SPEAKER_00: Now, I'm not gonna lie to you, I found lockdown tough, as did probably most people.
• 5:18
  SPEAKER_00: Trying to homeschool two young children and run a business was just hell on earth.
• 5:25
  SPEAKER_00: And then having to deal with the difficulties of just trying to keep everything ticking over, it was tough.
• 5:31
  SPEAKER_00: We all found it was tough.
• 5:33
  SPEAKER_00: And of course, there were times when it could have been much easier just to give up and walk away.
• 5:38
  SPEAKER_00: But I didn't do that, and you didn't do that, and because of that tenacity, that's why we're here today to tell another tale, or for me to record another episode.
• 5:50
  SPEAKER_00: Now, I guess the point that I'm trying to make is that as creative entrepreneurs, we're always going to experience tough times because we operate in a world that is really tough.
• 6:01
  SPEAKER_00: Business is tough, it's the hardest path to take, but we've decided to embark on this crazy journey because we understand that our businesses are the vehicle that's going to take us to the life we want to create.
• 6:15
  SPEAKER_00: And so we need to stay focused, which is why in today's episode I'm going to share ways in which you can start making money online during these tough times.
• 6:26
  SPEAKER_00: Okay, so my first suggestion is to think about creating a store on Etsy.
• 6:33
  SPEAKER_00: Now, for those of you who don't know what Etsy is, Etsy is an online craft marketplace that connects sellers to buyers.
• 6:42
  SPEAKER_00: It is predominantly used for selling handmade goods and crafts, but entrepreneurs sell other things on there as well, like planners and workbooks and things related to business.
• 6:56
  SPEAKER_00: Now, Etsy charges a small fee per listing, and when you make a sale, they charge 5% on that transaction.
• 7:04
  SPEAKER_00: However, with an Etsy store, you can create free or paid for content that you can then sell.
• 7:14
  SPEAKER_00: Etsy is definitely worth considering if you have created workbooks, planners, downloads, templates, or how-to guides in your business.
• 7:24
  SPEAKER_00: I think you can sell tutorials or online courses on Etsy as well, but I believe there is a policy whereby you need to have a tangible item that accompanies the training.
• 7:37
  SPEAKER_00: So it needs to have a workbook or something.
• 7:40
  SPEAKER_00: But don't hold me to this.
• 7:43
  SPEAKER_00: Check it out within Etsy's policy on their website.
• 7:47
  SPEAKER_00: Now, one of the great things about Etsy is that you can sell your items whilst you sleep, and I speak from first-hand experience.
• 7:56
  SPEAKER_00: I have various digital products on there, like my brand strategy planner and the course creators workbook, and I have made a ton of sales whilst I've been away, and it's great knowing that I don't have to be there chained to my desk to make money because it can happen at any time.
• 8:15
  SPEAKER_00: So if you are somebody that you provide your clients with handouts and you want to make some additional revenue from those, then check out Etsy.
• 8:27
  SPEAKER_00: Getting started on Etsy is relatively easy.
• 8:30
  SPEAKER_00: You just need to create a store and then create your listings, and your listings are your products, and then once you've done that, you're good to go.
• 8:40
  SPEAKER_00: One of the really useful things about Etsy is that you can run ads which attract new customers to your store.
• 8:48
  SPEAKER_00: Now, it may take time to build up your sales, but it's definitely a strategy to consider.
• 8:55
  SPEAKER_00: Now, if you're interested in becoming an Etsy seller, then I would recommend that you check out what is currently being sold on Etsy under your category to see if there is a need for what you have to sell.
• 9:08
  SPEAKER_00: But a quick search should tell you what you need to know.
• 9:12
  SPEAKER_00: Okay, so my second suggestion is to become an affiliate partner.
• 9:17
  SPEAKER_00: Now, affiliate partners are a subset of marketing partners for a business or a program.
• 9:23
  SPEAKER_00: It's where your role would be to endorse a specific product or service so that you generate more revenue for that company.
• 9:33
  SPEAKER_00: Now, becoming an affiliate partner could help you make more money in your business, especially if you love the product and you're happy to go about endorsing it.
• 9:41
  SPEAKER_00: There are companies out there that offer really generous incentives just by you recommending what they have to sell.
• 9:49
  SPEAKER_00: Now, if your recommendation leads to a sale, then you may get to enjoy a financial reward, and this could be in the way of money off the product that you're using, so that saves you each month, or in some cases it could lead to you having money in the bank.
• 10:07
  SPEAKER_00: Now, I'm an affiliate for a few tools and platforms, and with one of my platforms, because of my recommendation, if people sign up, then I get a whopping 30% kickback paid directly into my bank account, which is pretty cool because it means every single month for the lifetime of those customers, I get money back.
• 10:31
  SPEAKER_00: Now, of course, there's a caveat, and that caveat is that if you're going to become an affiliate partner, then you need to be completely satisfied with the service or the tool that you are endorsing.
• 10:46
  SPEAKER_00: And I think that's got to be a really important point to make.
• 13:25
  SPEAKER_00: Now, if you're a creative entrepreneur, this could be a really great way to earn that additional money.
• 13:31
  SPEAKER_00: So, really do think about that.
• 13:33
  SPEAKER_00: The five top things that sell really well on Fiverr at the moment are web design and development, graphic design and Photoshop editing, logo design, search engine optimization, so SEO and social media management.
• 13:50
  SPEAKER_00: So if you're a creative entrepreneur, this could be a great way for you to earn additional money.
• 13:55
  SPEAKER_00: Now, there are some other platforms out there like Upwork, Lemon.io, and Bark.com to name a few.
• 14:03
  SPEAKER_00: So definitely check out these platforms because they may just be able to bring you in some additional revenue that's going to make your life that little bit easier.
• 14:13
  SPEAKER_00: So, my fourth suggestion is to become a Clickworker.
• 14:18
  SPEAKER_00: Now, Click Worker is a little bit like Fiverr where you sell your skills to get paid.
• 14:23
  SPEAKER_00: It's a quick and straightforward way to earn money from home and requires no experience.
• 14:30
  SPEAKER_00: All you need is a computer and an internet connection.
• 14:34
  SPEAKER_00: It's free to sign up and you can complete the work direct from your computer and you can start earning money despite where you're based in the world.
• 14:44
  SPEAKER_00: All you need to be is really clear on the skills that you can provide just so that you can pick up the right work that is suitable for you.
• 14:53
  SPEAKER_00: Now, a click worker can earn anything from£7.50 upwards, depending on your skills and experience.
• 15:00
  SPEAKER_00: However, working as a click worker can help you again achieve some additional cash or help you top up your income.
• 15:10
  SPEAKER_00: Now it's not suitable for an alternative to full-time employment, but it is a really great way to subsidize your revenue.
• 15:19
  SPEAKER_00: So if you're interested in this option, then check out clickworker.com.
• 15:26
  SPEAKER_00: So my fifth suggestion is to create it and sell a video series.
• 15:31
  SPEAKER_00: If you operate in a niche or perhaps there is something specific that clients are always asking you for help with, then why not consider creating a three-part video series that you can then package up and sell?
• 15:44
  SPEAKER_00: Because not only will it help you to grow your email list, but it will also bring in additional revenue.
• 15:50
  SPEAKER_00: If you have a smartphone, then you have the capability of creating these videos because the technology that is now available is really powerful and the quality is really good.
• 16:03
  SPEAKER_00: You just need to have a topic that you know customers would be interested in and have a really good idea on what you're going to be teaching them and what those learning outcomes would be.
• 16:14
  SPEAKER_00: Now, the great thing about this is that this would be a lot quicker to make than an online course because you're only having to create three videos.
• 16:24
  SPEAKER_00: And the idea behind the three videos is that you're breaking down a topic into three simple steps.
• 16:31
  SPEAKER_00: Now, at the end of the third video, you could then present an offer that leads them into your business.
• 16:38
  SPEAKER_00: For example, if you are a digital marketer that teaches clients how to create and run Facebook ads, then you could develop three videos all around this.
• 16:51
  SPEAKER_00: The first video could be talking about what Facebook ads are and how they can help grow the business and how to get started.
• 16:59
  SPEAKER_00: The second video could be about the tech and the setup, and the third video could be about creating compelling copy and scroll stopping imagery so that you can set your ads up for success.
• 17:14
  SPEAKER_00: Now, as you can see, these three videos would then take your customer on a specific journey that provides them with value and knowledge.
• 17:24
  SPEAKER_00: At the end of the third video, you could then present an offer.
• 17:28
  SPEAKER_00: Now, this offer could be aligned with your teaching.
• 17:32
  SPEAKER_00: So, for example, if you have an online course already, this could be a really great way to funnel new customers into buying your online course.
• 17:42
  SPEAKER_00: You just need to understand who your audience are, what they're looking to learn, and what the outcomes are that they would be looking to achieve.
• 17:52
  SPEAKER_00: Now, you need to make it compelling enough that it's a no-brainer for them.
• 17:58
  SPEAKER_00: So this is about really understanding where they are in their journey and why they would buy your video series.
• 18:05
  SPEAKER_00: However, this is a really great idea if you're looking to promote something.
• 18:10
  SPEAKER_00: So if you have a workshop or, like I say, an online course, or maybe you've got a program that you're looking to bring new customers into.
• 18:31
  SPEAKER_00: So it gives you something really simple to do and sell without having to spend months and months and months creating the content.
• 18:42
  SPEAKER_00: Now, in terms of setting up the tech to make this happen, you only need a few tools.
• 18:49
  SPEAKER_00: Firstly, you need a landing page.
• 18:51
  SPEAKER_00: A landing page is a place where you send your audience to to find out more about the video series.
• 18:59
  SPEAKER_00: Secondly, you'd want to set up a checkout page to receive payments, and this could be done through a platform like PayPal.
• 19:07
  SPEAKER_00: And thirdly, you need an email marketing account.
• 19:11
  SPEAKER_00: This is so that you can collect email addresses, but also so that you can set up email sequences so that you can communicate with your audience.
• 19:21
  SPEAKER_00: And then finally, you just need to have somewhere where you can host the videos.
• 19:26
  SPEAKER_00: Now, this could be on YouTube, and you can set it up so that it's private on YouTube, and then email out the URL for those that sign up and subscribe, or you can use other platforms out there as well.
• 19:40
  SPEAKER_00: There are so many video hosting platforms, so you can just have a look online for that.
• 19:47
  SPEAKER_00: Yes, there is a bit of work involved setting all of this up, but it is a way to achieve a quick win.
• 19:56
  SPEAKER_00: You'll have something low cost that you can offer your audience almost immediately that's going to bring you in money.
• 20:03
  SPEAKER_00: So as long as you're prepared to do a bit of work and you're ready to embrace getting digital, then this could be a quick win for you.
• 20:13
  SPEAKER_00: The great thing about this is that you can sell this on repeat and generate passive revenue.
• 20:19
  SPEAKER_00: It will take less time to create than an online course, but what it does do, it moves you closer to creating an online course.
• 20:30
  SPEAKER_00: So if that's something that you have planned for in the future, then why not start by creating a three-part video series?
• 20:40
  SPEAKER_00: Suggestion number six is writing and selling a book.
• 20:46
  SPEAKER_00: Like a video series, this is another great way of putting your talents to use and making money from them.
• 20:52
  SPEAKER_00: So why not think about creating a guide or an ebook that helps your audience with a specific problem or challenge?
• 20:59
  SPEAKER_00: As entrepreneurs, we are problem solvers, and what we sell is our knowledge, and we do this through the services that we offer.
• 21:08
  SPEAKER_00: So, what can you package up and sell that's going to help your ideal customer, but it helps you to make money on repeat?
• 21:16
  SPEAKER_00: There are so many platforms available to us now, like Amazon and Etsy, that make it so much easier to sell the things that we create.
• 21:27
  SPEAKER_00: So, what can you create that's going to help your ideal customer resolve a problem?
• 21:34
  SPEAKER_00: Okay, so my seventh and final suggestion is about creating an online course.
• 21:41
  SPEAKER_00: Now, I couldn't create a list of ways to make money online and not include this option because it is truly full of opportunity.
• 21:49
  SPEAKER_00: Now, during times of economic downturns, online learning grows exponentially because people want to update.
• 22:00
  SPEAKER_00: Skill and learn new things, or they may want to learn new skills so that they can move jobs.
• 22:07
  SPEAKER_00: Just look at the pandemic, the e-learning market grew so much.
• 22:12
  SPEAKER_00: I mean, it was ridiculous the amount of growth that it was just an explosion because people had time on their hands and they were able to learn solely from the comfort of their own home.
• 22:25
  SPEAKER_00: Now, I've said this before, online learning is so incredibly powerful because it makes learning accessible.
• 22:34
  SPEAKER_00: People can learn about the things that they want to learn about from the comfort of their own home.
• 22:39
  SPEAKER_00: They don't need to trek out to night school or have to find a course that is often in another town.
• 22:46
  SPEAKER_00: They can just do it from their own home at their own pace and in their own time, which for an entrepreneur is great because it means that we can package up the things that we know and then we can sell it to those who need access to what we know.
• 23:04
  SPEAKER_00: And then, of course, we can make money on repeat because we don't have to be there time and time again to deliver it in person.
• 23:12
  SPEAKER_00: Online courses are often so much more affordable than courses that require you to be there in person, and they also provide students with flexibility whilst being economical and practical as well.
• 23:25
  SPEAKER_00: Now, from a business owner's perspective, it's a great way to build strength in your business because at a time when customers are probably pulling back on what they're buying, it gives you a low-cost but high value offer to provide customers.
• 23:42
  SPEAKER_00: So if they can't afford to purchase your premium service, then they're most likely to be able to purchase an affordable alternative instead, which is why I champion online courses.
• 23:54
  SPEAKER_00: It's not just about showing up and teaching others what you know, but it's about creating a robust business that can cope through challenging times.
• 24:03
  SPEAKER_00: It allows you to be strategic in the way you run your business and gives you other things up your sleeve that you can offer your customers.
• 24:13
  SPEAKER_00: So when times are tough and people are pulling back on the things they're buying, you will always have a low-cost offer that you'll be able to use to generate that revenue.
• 24:26
  SPEAKER_00: If you haven't yet considered creating an online digital course for your business, then I highly encourage you to think about it because it's a great way to scale your business to serve more people and to bring that revenue into your business on repeat.
• 24:44
  SPEAKER_00: Okay, so there you have it: seven ways to make money online during challenging times.
• 24:50
  SPEAKER_00: Now, I'm not gonna sit here and say that each of these options that I've spoken about in this episode doesn't require any work because the truth is they do.
• 25:00
  SPEAKER_00: But anything that's worth having is going to take effort.
• 25:04
  SPEAKER_00: The truth is that the digital world is not going anywhere.
• 25:08
  SPEAKER_00: Millions and millions of people are searching for things every day using the internet, which presents a huge opportunity for us creative entrepreneurs.
• 25:19
  SPEAKER_00: There are so many advantages to creating an online business, and I think if you're looking to navigate through these tough times, then you do need to start thinking about ways in which you can start developing a strong presence online.
• 25:33
  SPEAKER_00: We are in such unprecedented times at the moment, and we just don't know where this is going to lead to.
• 25:39
  SPEAKER_00: However, what we do know is that during the periods of uncertainty, there is always room for growth and opportunity.
• 25:48
  SPEAKER_00: As creative entrepreneurs, we need to be brave and we need to be bold and we need to make decisions that help us to thrive and survive through these times.
• 26:00
  SPEAKER_00: And this starts by reframing our thoughts so that we look at this period as an opportunity for growth and expansion.
• 26:10
  SPEAKER_00: One thing I do believe is that in order for us to thrive in today's ever-changing world, we do need to be thinking ahead and looking at new ways to not only support our audience and our customers, but also ways in which we can grow both personally and in our business.
• 26:30
  SPEAKER_00: Today's world is not the same as it once was, and we need to adapt and we need to change with it.
• 26:37
  SPEAKER_00: The online world offers us limitless possibilities, and it's there for the taking.
• 26:43
  SPEAKER_00: I really encourage you to consider thinking about things that you can create that's going to bring in that money that's going to help you by using online opportunities because it can make a real difference to your business, and there's no reason why you can't continue to thrive during these times.
• 27:05
  SPEAKER_00: You just need to adopt the mindset that anything is possible, there's plenty of opportunity out there, and you have what it takes to do this.
• 27:15
  SPEAKER_00: Thank you so much for taking the time to listen to today's episode.
• 27:19
  SPEAKER_00: I hope you found this episode of value, and of course, please feel free to share it with others who you may think will also benefit from listening to today's episode.
• 27:30
  SPEAKER_00: If you are feeling inspired and would like to know more about getting started with creating an online digital course, then why not download my free ebook, 10 Steps to Digital Course Success, by visiting my website www.carenhyphendavies.com.
• 27:46
  SPEAKER_00: I will be back next week with another episode, but until then, have a great week.
• 27:56
  SPEAKER_00: I hope you enjoyed this episode of the Digitally She Does It Show.
• 27:59
  SPEAKER_00: Don't forget to check out the show notes for all the links and resources mentioned in today's episode.
• 28:05
  SPEAKER_00: New episodes drop every week on a Wednesday.
• 28:07
  SPEAKER_00: So why not rate and subscribe so you never miss an episode?
• 28:11
  SPEAKER_00: Thank you for tuning in today, and I will see you next time!