Staying alert to the opportunities afforded in the digital realm
The development of the internet and electronic communications has had the result of seemingly shrinking the world. Suddenly working from home is so much easier as is doing business with overseas companies. The amount of information that is available is mid-blowing and the opportunity to interact with people over social media and to share ideas and thoughts is huge.
It has all lead to the rise of many opportunities – it has afforded the average man in the street the chance to be a global trader or to monetise ideas far easier than could ever be done before. In short, the internet has opened up the world of possibilities, and to take advantage of them you simply need to be alert and ready to jump when the chances present themselves. Here are a few angles to look at.
A long time ago, as the internet was first starting to burgeon, entrepreneurial people were quite quick to register as many domain names as they could afford – names that they thought would be in demand and which they could sell for vast amounts of cash at some stage. This was a play that panned out for many people, although there were also many court cases between so-called domain squatters and people who felt they were the rightful owners of specific domains. Most of the good names are now gone, but what has become a fertile ground to explore is looking to see where to buy expired domain names. These are domains that were once owned, perhaps even loved and used. But no more. If some good ones have been left to die and not been renewed, then their good is good mileage to be had by jumping on them.
This is a great angle for a side-hustle and many people are doing it. Set-up is easy and there is no need to hold stock. You are simply a middle-man, doing the marketing and promotion in a niche space. You will need to build a site, update the content and respond to client queries, you will need to find the best website hosting Australia has available and then you can hopefully sit back and watch the cash roll in. If you get it right, it is a simple arbitrage model – you know what you need to spend on marketing in order to generate a sale. Do the maths and price accordingly and you are onto a good thing.
If you have a large social media following over a range of business platforms, then you could be well-positioned to be paid to endorse brands or posts about products. Once connected with a brand through one of the many influencer portals, it can be quite an easy process, if you tick the boxes they require. Obviously, volume of followers is a key-criteria, but they will also look at other factors – how aligned are you with the demographic that they are looking to talk to? Could you genuinely be described as an influencer in eth space? But put yourself out there – it is surprisingly easy money.