What is entrepreneurship, you can look below for its most basic definition.Th e whole question of entrepreneurship can be boiled down to a person who takes risks in exchange for financial gain.
When we think of entrepreneurs and entrepreneurship
There have been many entrepreneurs throughout human history, entrepreneurs basically take risks.
There are many many famous entrepreneurs like Thomas Edison and Richard Branson, Elon Musk and a myriad of others.
These entrepreneurs and business people have made huge sacrifices in order to expand and succeed at business.
I have heard stories of entrepreneurs like Elon Musk, sleeping in the factory and working 24 hour days in order to get the job done.
In fact everything that you see around you, products, services, are really the combined efforts of a lot of entrepreneurs.
Most people don’t want to take risks, people who are risk-averse, don’t tend to be entrepreneurs.
This is because they are worried about losing money or losing face.
They may be under pressure to please their partners or their friends, they care about what other people think.
Entrepreneurs have the amazing ability to not care what other people think about them.
They have the ability to take an idea and make it a reality.
There are lots of different business models that entrepreneurs use in the 21st century, below are a few business models that entrepreneurs use.
Shops are the most traditional of entrepreneurial endeavours, shops have business rates, rent and stock costs.
The main problem with retail in the 21st century, is the amount of competition that is growing online.
How many high street names have you seen in your lifetime, that have gone out of business.
If you get a retail outlet off the ground, you can do extremely well but changing fashions and trends can soon close your business.
I have had personal experience of helping to run shots as a manager, apart from the business costs of running a shop, there are also other considerations.
Theft by shoplifting and unwelcome members of staff are also a downside to retail.
Services – Tradespeople
I have had personal experience providing services to the general public and business.
Services can be a great way of being self-employed.
You get to meet people from all walks of life whether you are a plumber, electrician or any other kind of trade person.
Having a trade is great but you are trading time for money.
Some tradespeople can earn a lot of money, but from time to time work can dry up.
This can be because of economic climate, a change in fashions and trends or any other Factor out of your control.
Many trades can also be backbreaking work.
I used to run a removal company, and some days I was so tired I couldn’t even move.
Online retail – Dropshipping
Online retail has seen massive increases over the past 10 years.
Like I mentioned earlier on in this article major retailers on the high street have suffered.
If you find a product that people really want or need, you can make absolute Fortunes.
The way a lot of people work when selling online, is to use dropshipping.
Dropshipping is a great way of making money because, you don’t need any stock.
Dropshippers build a website/ online store, and put stock photos with item specifics on their products.
When a customer find the dropshippers website and clicks to buy the item, the drop shipper takes the money and buys the item from a place like Alibaba and AliExpress.
The prices are wholesale prices, so the dropshipper keeps the profit.
As long as the drop shipper has marked up the profits to cover all costs, he or she can make lots of money.
The only downsides with dropshipping are customer complaints and Returns.
This can be a real problem if you are buying items from China or any other country,is were sending the item back or receiving the item takes up to 4 weeks or more.
If you are dropshipping through eBay this can be a really serious issue.
Setting up a factory to create products can be a very expensive process indeed.
Profit margins can be very slim, and not to mention the costs of equipment, rent and business rates.
Another factor that you must think about, is who will run the factory.
Employment law can be a complicated set of Rules to learn.
Plus you need to set up a payroll system, in the UK we have income tax, National Insurance and work based pension scheme.
You also need employers liability insurance, health and safety and many other considerations.
Lots of companies who produce goods, struggle to compete in the Global marketplace.
This is because goods can be produced with cheap labour abroad.
This is why China will be the world’s top economy in the next few years.
The internet is a global technology.
The great thing about the internet is that you can reach billions of people around the world.
Affiliate marketing is great because you don’t need any stock, all you need is a website and some internet traffic.
Affiliate marketing is basically the promoting of products services and getting paid a commission.
Commission rates start from 10%, right up to 70 to 80%.
This is because companies that you are promoting, try to upsell extras.
It can be quite difficult to succeed affiliate marketing, unless you have the right kind of mindset and training.
Entrepreneurship is separated into different categories cold niches.
Below are some examples of different niches;
health and fitness
personal finance and cryptocurrency
The list just goes on and on and there are loads of different niches and sub niches.
Best affiliate courses
If you would like to learn affiliate marketing, you can try some of the course is below;
How to build a profitable niche blog website course
Income school is a website run by Jim Harmer and Ricky Kesler,they run a fantastic online courses called Project 24. Passive income can be a difficult skill to learn and this is where building a business can cause a lot of people to give up before they have even got started.Learn how to build a profitable niche website in 60 steps.
I really like Project 24,because Jim and Ricky’s advice is so good and useful for building a passive income online.You can learn a lot by listening to these two guys.The Project 24 course is there to help you every step of the way.They will run through every step from start to finish,of all of the things you need to create a passive income website.
WHAT IS INCOME SCHOOL ?
Ricky and Jim are brilliant at giving valuable content online through Youtube videos and blogs.They are experts in SEO and have plenty of skills that can help other entrepreneurs.
They have created a network of profitable niche websites that earn them both a fantastic online passive income.Their website Income School has become famous through their online presence on Youtube.I am huge fans and have listened and taken action with the advice they give,it’s really helped me to grow my own online business.
Jim Harmer is a professional photographer from Idaho and has had plenty of success with his career.He has been a blog writer for many years and has taken his knowledge and created a great online business with his colleague Rick.
Rick Kesler is co founder of Income school and blogger,he has a background in business as well.
Jim and Rick are great motivators of people, project 24 will help any budding entrepreneurs to succeed with their niche websites and blogs.
LEARNING HOW TO BUILD A PROFITABLE NICHE WEBSITE
Project 24 is a course for learning how to build a profitable niche website over a 24 month period.The first two years of a websites life can be difficult,because the major issues are web traffic and monetization.
Online business can be a mine field of false info and promises,with some shady ‘So called Affiliate marketing Gurus’ making claims they can’t back up.
Jim and Ricky have created a great course that includes a lot of content,the content they provide is tried and tested.We know this because they have used the same techniques they teach on their own websites.
They quite clear and honest about how much their websites earn in one of their Youtube videos and its not pocket change,some of their websites make $60,000 per Month.
The bogs they have created range from photography to pets and the list goes on.
.They walk through the 60 step approach to making a website that can make you money online.
The content included on the Project 24 course;
60-Step Approach to a Profitable Niche Site
A Podcast to Give You the Newest Techniques
A community of students, and also Ricky & Jim’s expertise
A library of Courses for learning Everything you need to know
Building a niche site for passive income takes lots of dedication and hard work in the beginning,so choosing Project 24 will help you reach your goal of mastering passive income a real possibility.
This course is idea for people who want to monetize their blogs, and for people who want to start from scratch as well.You can start learning step by step, how to get your website up and running and getting that all important organic search traffic from Google.
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