by Camila Porto | Jul 13, 2022 | Entrepreneurship | 5
With the growth of the Internet, making money from your own business has become easier. With digital entrepreneurship, the dream of having your business, having a monthly income and doing what you like are realities that many people, from all over the world, already live.
In this post, you will understand what you need to do to have a digital business, what are the most promising segments to undertake online, how to start a business on the internet and much more.
What is Digital Entrepreneurship?
For me, digital entrepreneurship is any type of business where you use the Internet to generate income. Of course, the intention here is not to put anyone in boxes, quite the opposite. The idea is to bring the possibilities that you can build with digital entrepreneurship.
You don't need to work or earn 100% income on the internet, but know that your audience is increasingly on the internet and digital marketing and other ways to generate income are increasingly popular.
According to the MeuSucesso website, digital entrepreneurship can be defined as: “Digital entrepreneurship can be understood as the development of a business model to offer a differentiated product or service through a digital medium generating profit”.
Therefore, being a digital entrepreneur and being successful depends only on using the Internet to offer your products and services. Now, the coolest thing about it all is that there are countless opportunities to make money, create a business, your own boss, create a new market. This is all over the internet.
What are the benefits of being a digital entrepreneur?
Of course, when venturing into a new area, you need to know what you have to gain and what you have to lose by investing your time and money, do you agree? That's where other people's experience can help you decide if this is a good alternative for you.
Before delving into this subject, I just want to make it clear that there are many advantages to having a digital business, but don't be fooled. Many people want to sell the image that it's an easy way out.
However, there is a lot of work to be done if you want to earn good money and make a living from digital entrepreneurship. For me, the main advantages of digital entrepreneurship compared to other business models are:
Market entry cost
If you compare how much it costs to create a physical business versus a digital business, you will see why this market is growing so much. Nowadays, with a good idea and competence, it is possible to create an online business. All you will need to structure is a computer.
There are those who create a business and start making their first reais using a cell phone. Obviously, as you want to grow, you may need more people, more equipment, a physical location. However, there are people who earn their thousands and even millions of reais, working from home.
For some, this is the main advantage of being a digital entrepreneur: working from home. Of course, not everyone likes this work-from-home model, but it's an excellent way to save and increase your profit.
As it is a digital business, which only needs the internet, you can work from home or from a coworking space, for example. This, especially in the beginning, will help you save a lot of money on rent and other expenses.
If we take some examples of digital businesses, we can see how this market offers infinite scale. Later I will list some business models that you can use as inspiration to undertake online, but it is good that you visualize the size that a digital business can reach.
For example, Facebook, Netflix, Google and Amazon are digital businesses. Despite today being giant companies in their sectors, don't forget that each of them started with an idea. Facebook started in a college room, Amazon in a garage, and its founder, Jeff Bezos, had a door as a desk.
These are some advantages of having an online business and being a digital entrepreneur. Of course, having a business, be it digital or not, requires work and dedication. However, these three advantages already show that anyone can start a business online.
Ideas to create your business and work with digital entrepreneurship
This is an important point. I would say that choosing a business model is crucial for anyone who wants to undertake online and over the internet. The choice of business model is what will define your course and strategies to make money online.
As there are many possibilities of having a digital business, I want to list here the most interesting opportunities and their pros and cons. Come on?
Being an affiliate is one of the most common paths for anyone thinking of having a digital business and being an online entrepreneur. In general terms, being an affiliate is earning a commission whenever someone buys a product or service from your recommendation.
You can use an Instagram account, a Facebook group, a blog and even your friends and personal contacts to sell and earn commissions. There are basically two lines you can choose to work with:
This is a segment where you promote a course, online tool or any digital service and earn a commission on the sales you make. You can be an infoproducts affiliate and promote other people's services, which are called infoproducers. Which are people who produce online courses or sell some tool.
Hotmart, for example, is one of the largest companies in this segment in our country. In it, you can find infoproducers who sell their courses in various segments, from how to use the iPhone to quantum therapies.
In addition to Hotmart, there is also Monetizze and Eduzz, companies that offer similar services and opportunities in our country. If you are thinking of earning in dollars, you can get to know ClickBank, one of the largest affiliate companies outside our country.
Another segment that is growing more and more here is e-commerce. With that, being an affiliate and helping those who have an online store sell more is also a way to earn money online and start your digital business.
In the same logic of infoproduct affiliate marketing, being a product affiliate is an interesting market. Companies like Amazon and Lomadee are some references of this business model.
As a member of their affiliate program, you can earn a commission on product sales. It's an interesting way to monetize a blog or YouTube channel if you want to work as an influencer.
In addition to these two companies, another one that offers earning opportunities on the internet is Magazine Luiza. With Magazine Você, it is possible to set up a store with products for sale at Magazine Luiza and profit from recommending the products. You create a product showcase and, when you make a sale, you earn a commission.
Advantages of being an affiliate
One of the perks of being an affiliate is that you don't own the product. So don't worry about delivery, support, returns, complaints. You just take the customer to the purchase. Plus, you can earn good money without having to show up or expose yourself.
Disadvantages of being an affiliate
Being an affiliate is like being an investor. You need to find products with sales potential to make some money. As it takes some time to build an audience or requires investment in ads to generate traffic, many beginners end up getting in the way. Whether it's the lack of patience or money to stay motivated until the profit starts.
Another segment, which has grown a lot in recent years, is infoproducts. In general terms, an infoproduct is an online course. It can be a video, text, live course. Anyway, the format can be varied. However, many digital entrepreneurs today have created real fortunes by selling their knowledge through online classes.
On sites like Udemy and Hotmart, you can get an idea of the size of this market and the opportunities. On these platforms, you will find the structure you need to put your course on the air and start selling.
This is where the affiliate and the infoproducer connect. The infoproducer can use affiliate marketing platforms to find partners who will help promote the course.
If you do not want to rely on affiliates to promote your courses, you can use other platforms such as WordPress, for example, to host classes and use means such as PagSeguro to make sales.
Advantages of being an infoproducer
The earning potential is pretty big if you do a good job. There are infoproducers who earn more than one million reais per month. If you have a good idea, a good product, and good marketing, selling courses is extremely profitable as the scale is almost infinite.
Disadvantages of being an infoproducer
Depending on your style, being an infoproducer can be more difficult. That's because, with increasing competition in this market, creating authority is essential. Authority and audience will help you get bigger and bigger results.
However, for that you need to expose yourself, record videos, have Instagram. All this can annoy the most shy. Of course you can get away from it, but the chances of success decrease.
Being an influencer has become a profession. From the most famous on Instagram, to blogs, building and monetizing an audience is one of the ways to undertake online. When it comes to influencers, surely you can imagine the posts of healthy people, on the beach and all produced on Instagram. However, being a digital influencer is much more than that.
Influencer on Instagram
The term influencer has become quite popular with Instagram. People until then anonymous, became famous for their posts on the social network. Carlinhos Maia, Primo Rico, are some examples of people who earn small fortunes with their posts and content. This is a path for those who want to work with digital entrepreneurship.
Benefits of being an influencer on Instagram
Anyone who likes to share their life, ideas or teachings will find a world of opportunities in the influencer niche on Instagram. To be successful there, you need to connect with your audience, have constant posts and be obsessed with meeting the content demands of your followers.
Disadvantages of Being an Influencer on Instagram
As it is an area already well explored, finding a niche or differentiated positioning is more difficult. However, starting as a micro-influencer, then increasing the audience is a possible path. However, this career is focused on those who like to show up and expose themselves. Not everyone likes this lifestyle.
Influencer on YouTube
Along with Instagram influencers, YouTube influencers emerge as those who came from anonymity to fame. Names like Felipe Neto and Whinderson Nunes are just two examples. Being a youtuber is a way to make money on the internet and the earning potential is also almost infinite.
Advantages of being a youtuber
One of the advantages is that YouTube monetization models are well known. How to display ads, videos sponsored by brands, content subscriptions, are some examples.
In addition, YouTube is increasingly participating in the consumption of online content, and the fact that it is also a search platform means that even older content continues to generate income, unlike Instaram.
Disadvantages of being a youtuber
Even with the ability to create niche channels, appearing is almost critical on YouTube. Many say that it is possible to make money without showing up, but if you want to make money and have a comfortable life, showing up is almost essential. If you don't want that, it might not be the best model.
Influencer with Blogs
Somewhat forgotten since the emergence of social media, blogs are still an interesting source of online income. In the past, we have seen the emergence of small blogs, which have become large companies today such as NZN's Baixaki and Tecnoblog. The fact is that having a blog today is a very interesting way to earn money, especially for the shy ones.
Benefits of having a blog
One of the perks of having a blog is how easy it is to get started. With a computer and competence, it is possible to have good results. In addition, there are several monetization models such as Google's Adsense, which pays in dollars.
Another positive point is that the shy ones don't need to show up and it's very easy to hire people to produce content and improve their access.
Disadvantages of having a blog
It may take a while for you to start seeing results. In addition, each content requires a certain amount of research to produce.
Working with Google's ever-changing algorithm can be tricky, but meeting the demands of your visitors is part of the job. If you get the niche right, you can make good money with a blog.
Freelancer (self-employed professionals)
Another very promising area for those who want to have a digital venture is being a freelancer. It is not uncommon for many people to start making money online as a “freelancer”. The universe of freelancers is very broad and can cover many areas. I will list the most popular and promising ones.
Digital Marketing Freelancer
With the growth of Digital Marketing, being a freelancer in this area is very promising. Many people who like this segment, can provide services in this area, being the most sought after today:
– Paid Traffic Manager
It is the professional who takes care of and manages ad campaigns on Google, Facebook, Instagram and other channels.
– Social Media Manager
He is the professional who manages company accounts on Facebook, Instagram and other channels. Making posts, moderating comments and responding to customers.
– Content producer
They are professionals who work with content writing for blogs and e-commerce sites.
– Metrics and Data Manager
It is the professional who takes care of and monitors the company's performance on the Internet. Bringing important data and information to the company's strategies.
Another highly sought after professional is the designer. He is responsible for the company's visual identity on the Internet, it can be to make publications on Social Media, banners for ads, materials for websites, e-books and virtual stores, for example.
This is a career that has gained prominence recently. With the increase in the number of digital businesses, generating results increasingly depends on good marketing. That's why Copywriters are on the rise. He is responsible for writing persuasive texts, the so-called copys.
- Video editor
Video editor is a professional in demand in all sectors of an online business. Whether for influencers, infoproducers, online stores, videos are always fundamental in any digital marketing strategy.
These are some possible careers you can pursue as a digital entrepreneur. If providing services is your intention, here are some examples.
The entry barrier in this business model is even lower, as it's only up to you to take the jobs and start making money. There are several sites where you can make your labor available and be a freelancer.
Places like Workana and GetNinjas are two examples. Speaking of websites, you will see that there are several other areas to act and work with digital entrepreneurship.
– Private classrooms;
- Technical assistance;
- Technical support.
Advantages of being a freelancer
One of the main ones is being able to start working and making money online quickly in some segments. Online copywriting, for example, is one of the easiest ways to get started.
Another advantage is to work when you want or can. Many people today use freelancing as a supplement of income and, in some cases, it can even become the main source of monthly income.
Disadvantages of being a freelancer
If you don't have steady clients, it can be tiring and frustrating to attract new clients every month or at the end of each project. Also, as it is not a scalable model, you will only earn when you produce and deliver.
Other models, such as affiliate and infoproducer, already allow for greater automation of sales and revenue.
E-commerce and Online Stores
This is already a very common segment and is growing more and more in our country. Online shopping has always been on the rise, but after the 2022 pandemic, many businesses needed to quickly adopt this business model to survive.
Having an online store is no longer a seven-headed beast. There are ready-made platforms for those who are going to start and on Social Media, it is now possible to make your products available using Instagram Shopping and the WhatsApp Product Catalog, for example.
If you want to go the more traditional way and have a store, there are countless ways. One of them is to hire a professional, a freelancer, an agency, to put your website online. Another way is to rely on ready-made platforms such as NuvemShop.
Advantages of an e-commerce
The main advantage is the famous store open 24 hours a day, 7 days a week. Even having a physical business, when you open an online store, you can sell at any time.
In addition, the potential for e-commerce to scale is almost infinite. Just look at the example of Amazon and Magazine Luiza. It's not easy to become a shark, but there are plenty of examples that prove it's possible.
Disadvantages of an e-commerce
Dealing with the logistics process in our country is one of the main problems of this business model. In addition, consumer protection legislation and take-back processes can cost much of your profits. Also, there is a lot of competition in every niche. Therefore, in order to highlight winning, it is necessary to have a lot of competence and persistence.
How to get started in Digital Entrepreneurship?
This is an important question. My first tip is: get to know the business models available out there. There are many ways to make money online, and you can find the one that best suits you and your life goals.
There are many people who want to have a digital business for the money, the potential for scale, or because they want to make a living doing what they love to do. None of these ways is right or wrong. For those who want to start, this is the first step. Understand the main ways to monetize your business.
Several you have already met here. There are several paths, such as being an affiliate, content producer, freelancer, having an online store, selling subscriptions, products, services. Take time to understand the best models.
Your digital entrepreneur style
Once you've selected a few templates, see if they fit your style of digital entrepreneur. If you don't like showing up, being an Instagram influencer or info producer might not be your best path. If you want quick results, having a blog or e-commerce may not be the best option.
Talk to those already in the market
Today there are many YouTube discussion groups, Instagram comment space, blogs, from people who have been around longer than you in the area in which they decide to create their online business.
So list some references and try to contact these people. Ask a little about the biggest challenges, opportunities, mistakes and successes made. This will save you a lot of time and money. Believe it.
Have a financial plan
Drop everything and undertake is very beautiful when at the end of the story, the entrepreneur was successful. But for those who succeed, how many have failed. Therefore, every business involves risks and, before doing something crazy, have a financial reserve.
Everything that generates results takes time to build. So always stay optimistic, but have that safety mattress if something goes wrong or takes a long time to work.
Take a look at your monthly fixed costs and determine how much money you need to support yourself each month. That done, before dropping everything, have at least 3 to 6 months of that amount saved.
For example, if you have BRL 2 a month in expenses with supermarket, electricity, internet, water, rent and other expenses, focus on having at least BRL 6 saved. That's 2 thousand reais x 3 months. With this, you can dedicate yourself to generating results without the pressure of making quick money.
I hope you enjoyed this content and stay connected here to the blog. This is a very broad topic and, therefore, we will continue to talk about digital entrepreneurship in more content here. Save the blog to your favorites and always be on top of new publications.
If you have other ideas on how to undertake online, send them here in the comments. I'd love to know which segment you're eyeing or acting in. I await your comment.