Transcript 0:00 Sarah: Hey, guys. 0:01 It’s me, Sarah, the video editor at Wholesale Ted and in this video, I’m gonna give you 0:04 six online business ideas so that you can create your own small digital business. 0:09 Now, of course, my subscribers here at Wholesale Ted can probably guess what some of these 0:13 ideas are going to be. 0:15 But I think even my subscribers might be surprised at some of these ideas, especially idea number 0:20 four. 0:21 The great thing about a lot of these ideas is they require very little startup money. 0:23 If you’re willing to put in the work, then you can create your own small online business 0:29 as well. 0:30 And I’ve actually got a special guest with me on this video today, Mark Ling. 0:33 Mark Ling is a multi-millionaire who owns several successful digital businesses. 0:39 He’s also the co-founder for SaleHoo which is actually how I met him. 0:42 And plus, he’s also a New Zealander like me so be aware, he also has a funny accent. 0:48 Now, there are two people that have massively influenced my life. 0:51 It was Ted who changed my life by teaching me the world of e-commerce and it was Mark 0:56 who changed my life by teaching me the world of affiliate marketing. 0:59 So I’m really excited to have him on this video today. 1:02 All right. 1:03 Let’s jump straight into it. 1:10 Idea number one, start a YouTube channel. 1:12 A lot of people ask me this exact question, “Sarah, if you’re a successful online seller, 1:17 why do you even bother having a YouTube channel?” 1:19 Well, I’ll tell you why. 1:21 It’s a form of income diversification. 1:23 I learned very quickly early on that income diversification is very important, which is 1:29 one of the reasons why I teach multiple business models on this channel. 1:32 And I’m not gonna lie, it’s pretty profitable. 1:34 Every month, this channel makes tens of thousands of dollars. 1:38 How? 1:39 Well, let me tell you now. 1:40 It is not from AdSense. 1:42 In fact, as you may or may not have noticed, we actually have AdSense turned off so we 1:48 get no AdSense money at all. 1:50 YouTube AdSense usually pays around $1 to $2 per 1,000 views. 1:54 In the previous 4 weeks, Wholesale Ted had 278,000 views. 1:58 If we had AdSense on, then that means we’d have made between $278 to $556. 2:06 We also regularly get emails from people that want to do sponsorships on this channel. 2:10 I’ll tell you now, I always turn these down. 2:14 Yes, I do promote and I recommend products on this channel but I only promote and recommend 2:19 products that I use and believe in. 2:21 I’m not gonna sell my soul for $250. 2:25 Given that those are the two common ways to make money on YouTube, how are we able to 2:29 make tens of thousands of dollars every month with less than 100,000 subscribers and the 2:35 answer is simple. 2:36 It’s through affiliate marketing. 2:37 Now, Mark is going to give you a deeper explanation as to what affiliate marketing is very shortly 2:42 but let me give you a quick rundown. 2:45 Affiliate marketing is when you promote someone else’s product and if somebody purchases the 2:49 product because of you, then you get a commission cut on the sale and this is usually tracked 2:54 through a unique URL which shows that the person bought because of you. 3:00 For example, on this channel, we have a video which shows you how to use Jungle Scout to 3:04 find great products to sell on Amazon. 3:06 And in the video description of that video, we have an affiliate link to Jungle Scout. 3:12 And this isn’t some big secret. 3:13 In the video, I give a very clear disclaimer that the link in the video description is 3:18 an affiliate link. 3:19 When it comes to affiliate marketing, honesty is the best policy. 3:23 Why? 3:24 Well, because when you recommend a product and you’re getting a commission cut on the 3:28 sale if the customer purchases it because of you, then obviously, they’re going to become 3:33 skeptical. 3:34 Are you just recommending it for the money? 3:36 So don’t be dishonest and create more distrust by hiding the affiliate link and pretending 3:41 like you aren’t getting a commission cut for the sale. 3:44 Be upfront and honest. 3:45 The other way that we create trust is that we show how we use these tools in tutorial 3:50 form so that others can see that they are genuinely helpful, that they are useful, and 3:55 that they are worth purchasing. 3:57 Not everyone will use your affiliate link but if you provide genuinely useful advice 4:02 in your video, then a lot of people will use your affiliate link as a thank you for the 4:04 time and effort that you spent creating it. 4:06 Another way that we build trust is that the majority of our videos don’t even use any 4:11 tools or have any affiliate links in the description. 4:14 We only use tools if they are relevant to the video. 4:18 We focus on providing genuinely great content. 4:21 And it’s funny. 4:22 If you focus on creating great content for the viewer and you treat money as a secondary 4:27 concern, then what you’re gonna find is that you’re gonna make more money because when 4:31 you do recommend products, people are actually going to trust you and that is actually a 4:36 great lesson for anyone who is starting a business. 4:38 If you start a business on the basis of helping people rather than cheating people, you’re 4:43 going to go much further. 4:44 If you go and you cheat people out of some money, then sure, maybe you’ll make a quick 4:48 buck but they will go and tell others and your reputation will be trashed. 4:53 But if you sell and recommend products that genuinely help people and fix their problems, 4:58 then not only will they go and tell others that you helped them but you will also create 5:03 repeat buyers. 5:04 But, I digress. 5:05 The point here is that if you want to start a YouTube channel, do not start it with the 5:10 focus being on getting money through AdSense or through sponsorships. 5:13 Instead, look for more lucrative ways to monetize and usually, that means that you’re either 5:18 gonna be selling other people’s products through affiliate links or, if you’re even more bold, 5:23 you can sell your own products. 5:25 And, of course, don’t make crappy videos that are just designed to sell stuff. 5:29 There are no shortcuts here. 5:31 You have to make good videos. 5:32 All right. 5:33 Let’s switch over to Mark so he can tell you more about affiliate marketing. 5:37 Mark: Idea number two, become an affiliate marketer. 5:40 Thanks, Sarah. 5:41 Yes, affiliate marketing is hugely profitable. 5:43 I make tens of thousands of dollars from affiliate commissions every month. 5:48 Here’s a screenshot of just one of my ClickBank accounts and as you can see, that in the past 5:53 4 weeks, I’ve made over $20,000. 5:56 And in just 3 months, I generated over $47,000 from commissions selling a product that is 6:02 in the supplements niche. 6:04 So, what is affiliate marketing? 6:06 Sarah touched on this briefly but I’ll explain it a bit more now. 6:10 Affiliate marketing is when you don’t have your own products to sell and instead, you 6:14 sell someone else’s product. 6:17 And when you make a sale, you get a commission for it. 6:20 So sales are tracked through a unique URL. 6:24 When someone clicks on that URL, they get cookied. 6:27 That cookie then tracks them and it means that the merchant can tell if somebody bought 6:32 the product directly after clicking their link. 6:35 So what this means then is that you don’t need to have a product of your own to sell. 6:40 You can actually start making money online by selling other people’s products. 6:45 What it means is that you just need to focus on generating traffic from people who might 6:50 be interested in buying the products that you are promoting. 6:53 Now, Sarah has already explained how having a YouTube channel can be one really great 6:57 source of traffic but there are lots of others out there too. 7:03 Some examples include Facebook advertising, Google AdWords, free search engine optimization 7:09 traffic, having your own email newsletter list, social platforms like Instagram or Pinterest, 7:15 and more. 7:16 And you’ve got two main options. 7:18 The first is that you can direct your traffic directly to an offer. 7:21 For example, Sarah directs people directly to buy Jungle Scout in her video. 7:27 And sometimes, like in the case of that example, it is best to do that. 7:32 But usually, it’s best to actually direct that traffic to a freebie offer like a free 7:38 eBook. 7:40 Let’s say then that you are really into organic gardening for instance. 7:44 So you decided to promote products related to this. 7:47 What I would recommend you do is create a free eBook to help people who are also interested 7:51 in this. 7:52 So it might be something like “The Seven Steps to Creating an Organic Garden.” 7:57 Then, when people get their free eBook, require then that they give their email address and 8:02 that they opt-in to receive your newsletter series. 8:05 So in this newsletter series, you should send them lots of free, helpful information about 8:10 organic gardening to prove that you’re an authority and that they can trust your recommendations 8:15 and to build a relationship. 8:17 But, you should also use this newsletter series to recommend great products that are related 8:22 to organic gardening that you think that your subscribers will like and find helpful. 8:27 And, of course, when you do that, you can use your affiliate link. 8:32 By instead directing traffic to your free eBook, you’ll capture their email addresses 8:38 so that you can remarket to them again and again instead of just one-off, which is why 8:43 this method is so powerful and so lucrative. 8:46 Sarah: Idea number three, reselling items online. 8:49 This method is really simple. 8:52 It simply goes going out there and finding items in the real world that are really cheap 8:56 and then reselling them on sites like eBay and Amazon. 9:00 For example, this is Pokémon Leaf Green version, which, by the way, includes the Game Boy Advance 9:06 wireless adapter, which is a big deal. 9:08 Now, I picked this little bad boy up at a garage sale for about $30. 9:12 Now, if I were to resell that on the New Zealand version of eBay, which is called Trade Me, 9:17 I could get anywhere from $70 to $100 for it. 9:20 Now, I don’t do this business model anymore but I like to keep these video games around 9:25 for nostalgia because this was my first foray into online selling. 9:29 Now, if you go to thrift stores, to garage sales, to Craigslist, and even to buy and 9:34 sell Facebook groups, you’ll often find items that are priced lower on there than their 9:39 going price on eBay and Amazon. 9:41 If you want to get even more sophisticated with this method, you can do something that’s 9:45 called retail arbitrage. 9:47 This business model is when you find items priced lower in retail stores than their going 9:53 price on Amazon. 9:54 You then go and buy up all the stock in that retail store and then ship it into Amazon. 9:58 For example, here in New Zealand, we have some candy called pineapple lumps. 10:02 Now, I can go and buy this at a supermarket for $2.99. 10:07 Now, that’s in New Zealand dollars. 10:09 If you convert that to United States dollars, it costs just $2.16. 10:13 But on Amazon, they are selling for over $8 in U.S. dollars. 10:17 Now, you may have noticed that I specifically mentioned Amazon for retail arbitrage and 10:24 not for eBay and this is for two reasons. 10:27 One, there is a great culture of buying brand-new items on Amazon than there is on eBay so it 10:32 means that the prices are usually higher. 10:35 And two, Amazon has an amazing program called Fulfilled by Amazon. 10:39 This means then that you can take the items that you’ve purchased, ship them into an Amazon 10:43 warehouse, and then they will pick, pack, and ship out the item to the customer when 10:48 they order it. 10:49 I used to do retail arbitrage myself when I was younger. 10:51 It’s something that I no longer do anymore. 10:54 I explained why in my video that is aptly called “Why I Quit Retail Arbitrage.” 10:59 The main reason is because of the fact that it’s not a scalable method since you always 11:03 need to be sourcing items. 11:05 And that’s because of the fact that you’re usually sourcing discounted stock from a store 11:09 so you never know week-to-week which items are gonna be discounted in a store. 11:13 But even though it wasn’t right for me, that doesn’t change the fact that if you scale 11:17 this method as far as it can go, you can still build a six-figure business. 11:21 And it’s actually really easy to get started. 11:24 That’s why I included it on this list of best online business ideas because of the fact 11:28 that it’s very newbie-friendly. 11:29 All right. 11:30 Let’s move on to the next business idea and this business model has made Mark millions 11:36 of dollars. 11:37 Mark: Idea number four, create and sell your own digital product with the help of affiliates. 11:42 So, remember how earlier I was discussing affiliate marketing and how you can promote 11:46 someone else’s product and get a commission cut for the sale? 11:49 Let’s flip that on its head. 11:50 Why not, instead of promoting someone else’s product, you make your own product and then 11:55 affiliates promote it for you? 11:58 That’s what I do. 11:59 I have several products, one of them that I co-own is called Manifestation Miracle and 12:03 it’s a self-development course and it makes me tens of thousands of dollars every single 12:08 month. 12:09 And the best part is I don’t have to drive traffic to it because my affiliates are doing 12:13 that for me. 12:14 The business model is simple. 12:15 Create a great product then place it on a marketplace like ClickBank. 12:21 ClickBank is a site where merchants can list their products and affiliates go to ClickBank 12:25 looking for products to promote so this is how they discover your product and how they 12:29 start promoting it. 12:30 If you make a great product that has a high-converting sales page, then you’ll be able to attract 12:35 affiliates to come and promote your product for you. 12:38 And it’s very passive and hands-off. 12:40 And get this, by having your own product, you now have a list of customers and their 12:45 email addresses. 12:46 So take me as an example. 12:48 I have a huge customer base for Manifestation Miracle. 12:51 I know that these people are willing to buy personal development courses. 12:55 It means that I’m then able to use that email list to promote other self-development products 13:00 to them that they’ll be interested in and it means that I’m able to use my email list, 13:05 which is built for me by affiliates by promoting my products, to then promote affiliate offers 13:10 and make even more money. 13:11 And it’s honestly the best of both worlds and it’s a fantastic online business idea. 13:17 Sarah: Idea number five, dropshipping. 13:20 Okay, okay. 13:21 Although my subscribers here at Wholesale Ted probably expected this to make the list 13:25 and I can’t help it. 13:27 It’s a really, really good business idea. 13:30 Dropshipping is a great business model for beginners because it means that you can sell 13:33 items online without having to buy them in advance. 13:36 You see, you usually have to buy items in advance when you sell them online. 13:41 Take business idea number three, retail arbitrage. 13:43 To do that, you need to go to a retail store, purchase discounted stock, and then go sell 13:49 it. 13:50 But with dropshipping, it’s different. 13:51 You list items that you have not already bought. 13:54 To do this, you find dropshippers and these are suppliers that, well, are willing to dropship. 14:00 You see, most suppliers won’t dropship, of course. 14:03 They require you to purchase items in bulk and then you go and ship them to your customer. 14:08 But if a supplier is willing to dropship, then what they’ll do is let you purchase items 14:13 individually and then they will ship that individual item out to your customer. 14:17 So what you do is you list items that the dropshipper has for sale but you put a markup 14:23 on that price. 14:24 And then when the customer purchases the item from you, you get to keep the difference in 14:29 profit. 14:30 One really, really good thing about this business model is that it requires very little startup 14:34 money because of the fact that the customer has already purchased the item from you in 14:38 advance. 14:39 Now there are two methods of dropshipping that I teach on this channel. 14:42 One of them is called “How to Start an AliExpress Dropshipping Store With No Startup Money” 14:47 and I’ll have a link to that video in the description below. 14:49 The other method involves dropshipping on Amazon and I have a video for that, titled, 14:55 “Making Money With a Dropship Business.” 14:56 And, of course, I will have a link to that video in the description below. 15:00 Okay, let’s switch back to Mark so he can give you our final idea for creating an online 15:04 business. 15:05 Mark: Idea number six, private labeling your own physical products. 15:09 I don’t just create digital products like courses and eBooks. 15:13 I create and manufacture my own physical products too. 15:16 For example, one of my products is a knife sharpening stone and another is a vegetable 15:22 spiralizer. 15:23 This method is simple. 15:24 You simply import products cheaply from China and you resell them on Amazon or via your 15:29 own website for massive profits. 15:33 By selling them on Amazon, you get to take advantage of the Fulfilled by Amazon program 15:38 so you can let Amazon manage and handle the orders for you, making it very passive. 15:43 The reason why it’s called private labeling is because you place your own logo and branding 15:47 on the item. 15:49 This increases the value of the item so that you can charge an even higher price for it. 15:54 Yes, it requires you to put money upfront to buy items in advance but it has the huge 15:59 advantage that you don’t need to worry about managing customers’ orders. 16:03 Plus, it’s pretty neat to be selling your own physical products with your own brand. 16:08 Here’s an additional bonus tip. 16:10 You can increase your margins by back-ending them to a relevant digital offer. 16:14 For instance, if you were selling dog leashes, you might wanna upsell people to a dog training 16:19 guide that they can purchase instant online access to. 16:23 Or you may wish to affiliate to someone else’s offer if you don’t happen to have one of your 16:28 own to upsell to. 16:29 Sarah: All right. 16:30 Those are our six online business ideas. 16:32 If you have any questions about them, be sure to ask them in the comments section below 16:36 and we will answer as many questions as we can. 16:38 If you liked this video, I’d appreciate if you gave it a thumbs up and subscribed to 16:42 us here at Wholesale Ted for more great videos about making money online. 16:46 And if you would like to start your own online business but you don’t know how, then you 16:50 should be sure to download our free eBook, “How To Make $10,000 a Month Online With Dropshipping.” 16:55 You’ll find the link on how to download this incredible, life-changing eBook in the video 16:59 description below. 17:00 Ted: Hi there. 17:01 And thanks for watching this video, created by us here at Wholesale Ted. 17:05 It is our mission to help everyone start and grow their own online business. 17:06 That is why we’ve created a simple eBook which shows how anyone, yes, even you, can make 17:07 $10,000 each and every month with dropshipping, even if you don’t have startup money. 17:08 And best of all, we’re giving away this eBook for free. 17:09 And yes, we really mean absolutely free. 17:10 So, if you’d like to get this potentially life-changing eBook, simply click on the link 17:13 in this video description and get it now.