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Making money has arguably become more complicated. Changes in the workplace due to COVID have made for “interesting times”. Sometimes creative thinking has been required to stay afloat, as people tried to “Social Distance”.

The only thing constant in life is change. Those who adapt quickest thrive, those who adapt slowly survive, those who don’t adapt at all are relegated to the lowest levels of existence, poverty and misery. The key to success is to adapt quickly… it will put you at the head of the pack.

Tim McMahon

The internet has allowed more people to work from home. Those who have been able to adapt to this fast-paced digital world have seen their prospects improved. As more businesses turn to remote working, the world wide web is becoming an even more significant focal point in the global marketplace.

Your best hope today is to make money online. Below you will find some creative tips to help you get started.

The 3 Major Ways to Make Money Online

There are only 3 major categories of things to sell online. It really is that simple:

Sell a Service
Sell a Product
Sell information

Although the following video says How to Make Money Online “as a Teen” the ideas presented will work for anyone.

Make Money Online Selling What You Know

Starting with [Read more…] about Ingenious Ways To Make Money Online

Everyone starting a business hopes their business will succeed. But you need more than hope to start a successful business. According to the Small Business Association (SBA) 30% of new businesses fail during the first two years of being open, 50% fail during the first five years and 66% fail during the first 10. One of the biggest causes of failure is being “undercapitalized” that means you don’t have enough money to live on while the company is getting started. Another is a lack of proper planning. Here are some steps that can greatly increase your chances of success.

Develop a Business Plan

There are a variety of resources available online to help you develop your business plan but it is essential that you do this before moving ahead to other steps. The Small Business Administration is a government agency that can help you get started. They offer assistance from retired business professionals at no cost to you.

They also offer a guide called “10 steps to start your business“. The Guide includes information on how to:

Conduct market research
Write your business plan
Fund your business
Pick your business location
Choose a business structure
Choose your business name
Register your business
Get federal and state tax IDs
Apply for licenses and permits
Open a business bank account

https://youtu.be/F_qXLYuZJpE?t=1s

Be Extremely Frugal During the Early Years

In an effort to fight the problem of under capitalization you should budget and cut costs at every opportunity. Even companies that receive massive injections of capital from Venture Capitalists need to watch their pennies. Often growing too fast can strain a company and actually cause it to fail because processes and procedures have not had a chance to develop and so the company just throws money at the problem which then becomes a cash drain.

Take Advantage of Social Networking

Modern businesses are the ones that do the best nowadays. They’re the businesses that understand the digital world in vivid detail. If you want people to depend on your business time and time again, you need to have an A+ social media presence. People trust businesses that are communicative and responsive. They appreciate businesses that take the time to keep up with advancements and developments, too.