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Tips on how to starting a profitable family online business

YES, You can build your profitable online business together with your family!

Sometimes I always asked myself whether it is a good idea to involve your family in a business. I have read so many posts about starting a business with your family, and it is not a very encouraging nor positive. In my opinion, there are many positive way to engaging your family or your spouse to build a successful and profitable online business.

However, starting a family “corporation” required time and careful planing. My wife and I will walk you through on how to start business, and build your successful and long term income generating business together.

What type of Online Business that you want to start together?

In our You can start your business in 30 minutes post, you can read how important to focus to your niche, something that you interested in, or something that you passionate about. Why? because you will talk about it, discussing about it, or even arguing about it… 🙂 . It is always nice to talk or to discuss about something that you both like.

Back to the question – What type of Online Business that you want to build together? – There are many ways to approach this question, depending on your situation and what you want to start. I will give some example that most of you can start business with no time to producing a product, and going through a lot of steps – getting a product approvals, developing products, etc.

  1. Affiliate Marketing
  2. Drop Shipping

What is Affiliate Marketing?

In simple way, affiliate marketing is the process of earning income by promoting other people’s products. You promote their product at your site, and in return they pay a certain commission to you for every lead, or sale. You as an affiliate, choose the product that you like, promoting it by placing an affiliate link

(Show Diagram how affiliates marketing works)

How do you get paid?

Depending on the program, you can be compensated by qualifying in the followings:

==> Pay Per Sales

This is the standard or common way that you will be compensated a percentage of selling price. It is various from company to company, it may vary from 1% to 20%. The simple way to explain this, that your customer has to buy the product from your affiliates link before you get compensating by promoting their product.

==> Pay Per Lead

The company set an action that your customer/reader of your website need to do, it could be sign-up to their newsletter, contact form, or even participate in product trial. When you can persuade your visitor to complete the desire action, the company then compensate you. All lead (we call it that way) will be tracked using the link with unique identification number (Affiliate ID).

==> Pay Per Click

What usually the objective is the company would like to increase the traffic to their website. You will then compensate by the company when you can send your customer to visit their website.

How do we join?

Most of the time, you will be asked to join this major Affilliate Network as a publisher – CJ Affilliate Network, Rakuten, Clickbank, Awin, Tradedoubler, etc. This companies managing the affiliates request, tracking the links, and handle all the necessary affiliate aspect on behalf of the company (advertiser). You can find almost of niece (interest) within the network of advertiser, from clothing, travel, etc. The other popular network is the search engine – such as google, bing, yahoo where you can dedicate area from your site to accommodate advertising from the search engine. This is usually pay per click model.

Sample Affiliate Sites

like to travel, therefore we join different travel affiliates site, here some of the affiliate that we use in our travel blog site.

1 GETYOURGUIDE

Where you can book different tours, museum, tourist attractions, etc in major cities in the word. We love this site, because it is easy to implement, and they do have interesting content that can be use as base to write your blog, example you can create affiliate link base on the cities, activities on the particular city, and many more.

2. World Nomad Travel Insurance

World Nomad Travel Insurance is one of our favorite. They offer different kind of travel insurance to travelers. It is easy to implement to your site, and also easy to incorporate with your content.

World Nomads Logo

3. Travelpayouts

This is a comparison engine, you can compare different flight hotels, offers from major sites, and also different booking capabilities to transportation – bus ticket, train ticket, etc. If you happened to have interest in starting travel agent online, we recommend using their engine. They also provide a white label solution to their engine.

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Drop Shipping

Let says you and your spouse interesting in designing a t-shirt, but you do not want to have the hassle of having a production line, keeping the stock, or handling the transportation. A lot of manufacture, with today technology, can produce designed t-shirt on demand, you can make order base on what your customer need, and you do not need to ordered in bulk. The manufacture then send the t-shirt directly to your customer (on behalf of you).

DROPSHIPPING EXPLAINED

How do you get paid?

Different with affiliate marketing, the customer pay to you with the price that you set, and you will then pay to the manufacture to the price that they set (normally a wholesaler price). You will earn the different between the price that the manufactures set, normally you will add the transportation cost and other cost such as credit card fee, etc and the sales price that your customer paid to you.

How do we start a drop shipping business?

There are many drop shipping companies that provide this service. Now, in almost major trade territory (USA, EUROPE, ASIA, ETC) have drop shipping company that can help you to start your drop shipping business, such as Droshi, Oberlo, or Shopify.

Little heads up, please before you start a drop shipping business, get familiar with your local regulation especially when it comes to import duty, value added tax, etc. It is a complex business model, and sometimes involving different trade zone with different regulation.

How to balance a home business and family life

  1. Define role – who is doing what
  2. Create a budget – you do not want to spend all your money, or to little money. Like any other business, online business also required a capital and business plan.
  3. Keep your work and personal life separately – You do not want to miss the fun, I realize that sometimes it is difficult to separate work and personal life, especially when you work from home. You need to dedicate a certain time to take care of your business, but spending time each other or with your family it also important. We use to not talk about business outside the time that we set to build our business.
  4. Set a goal – what do you want to achieve on this business, set a target, per week, monthly, half year, and yearly objective. You will be amaze how this will help you to see the success, not only in financial, but also in relation.
  5. Be there, help each other – Remember two is always better than one, if two people can help each other to overcome the challenge, the outcome will be better. Moreover, if your spouse have the same goal and focus, normally the result will turn out positive, isn’t it right guys? 🙂

Most Important: Have Fun with it!

Success Story: We love to hear from you

Start a business together can bring your family together, and allow you to build something that can generate income, wealth, and opportunities. A legacy that you build for your future generation. Let us know if you have an experience and would like to encourage other family to start their online business, or perhaps you have more tips and ideas on how to start a successful family business online, we always love to hear that, leave comment below.

All the best

Kalle

14 thoughts on “Tips on how to starting a profitable family online business”

  1. I have been working online with my husband for 3 years. It is not easy at the beginning when we do not have much experience with an online business. Now, we are having fun 🙂

    You are right to point out that it is important to separate work time and family time. I never want to talk about work when we are not working on our business. We start a family online business because we want to create more family time, right?

    Thank you for the valuable information that will benefit many families who are looking to start an online business.

    Reply
  2. Your expository article has exposed some hidden fact about how one can start a profitable family online business I think these article is educative plain and easy to understand because of it detailed explanations that disproved so many idea that discourage starting or building family business together with our spouse I think coming across this article online has really change my ideology about family business thanks you so much

    Reply
  3. Hello there, thanks for sharing this educative and informative content here with us. I must say i really did enjoy going through this article as it contains mind blowing tips one needs to be aware of especially in this time of crisis. I will be sharing this with a couple of friends as well so they can follow these tips of yours in starting a business, well done.

    Reply
  4. Hey nice article you have there, your thoughts are indeed invaluable. There is no doubt that working together as a couple has more probability to success. It is better two people working toward the goal rather just one person. For sometime now, I have been thinking of viable business opportunities to engage myself and family members in. Having gone through the various points highlighted in this article, I ,definitely, going to look into your tips, and sign up to the platform that you mention. Thank you once again for the article…

    Reply
    • Hi, thank you for your comment…, we wish you all the best for your family business, remember to have fun, and enjoy the process…

      Reply
  5. I love it! I think this info is so important because it can push you to work with your own family. This is amazing, I would like to build an online business with my parents! I think it is encouraging to think about reaching success with trusted people. Most people in the world would like to know how to involve their family in their projects, and here is the answer.

    I think if I follow these steps I will achieve my dream about building a profitable online business with my family! Thanks for the info. I will share it!

    Reply
    • Thank you Anders, yes, building successful business with someone that your trust is a good base to start.  We wish you all the best with your upcoming project.

      Kalle & Marie

      Reply
  6. Thanks a lot for the time and effort spent in  providing such timely information. I’m certainly going to show my uncle this article. For sometime now, he has been searching for an online family business to engage in. I’m certain these tips will guide him in making a good chioce. 

    Reply
    • Thank you for dropping in, and appreciate your comment.  We hope that this article will help your uncle to start his family business.

      Reply
  7. Hi, Kalle,

    I’ve never had an online family business, but I had a brick-and-mortar family one. It may sound like fun, but it’s challenging. Working with family can be counterproductive.

    Regarding the affiliate networks you mentioned, I love Travelpayouts. It’s the one I use. I was approved by Booking, Viator, among others. It’s way easier to manage everything from there.

    Your recommendations are on point. We have to treat an online business seriously.

    Thanks for sharing.

    Reply
  8. Thank you Kalle & Marie for the article.

    I am also doing some work related to affiliate marketing. I am aware of payment per sales and per lead. Yet I think I rarely come across one which pays per click, which is interesting and a new thing I have learned today.

    I do believe that no matter what types of business we decide to go with, persistence is one of the important keys to make it a successful one. With affiliate marketing, first steps will involve building free and valuable content for the readers. It might require a lot of work in researching, writing and designing the website; at least this is my personal experience on the process. Results might not be fruitful at first. We need to be very clear why we start those from the beginning so that we can keep moving forward without giving up half way.

    Regards,

    Tam.

    Reply

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