Make Real Money Online

Ever since the introduction of internet and the possibilities it offered a lot of businesses saw the potential of increasing their exposure and made themselves available online which is when the digital economy started. With technology constantly evolving and internet speeds reaching the phase they are in now it became clear that digital economy would topple the traditional economy by a lot and become much better for profit. Recently the digital economy is one of the key drivers of the economic growth in the US and it's grown for about 7.2% annually for the past decade which is a rate about 4 times faster than the GDP. The development of technology has also made way for many businesses to easily improve their efficiency in many fields while having lower costs.

The digital economy has a few advantages over the traditional one and those are:

1. Effective resource allocation - in the digital world there is an option to get an algorithm that has information on what people search on Google, what they want and how they want it and it's much cheaper than paying people who may or may not be able to help you sell your product.

2. Location - it doesn't matter where you are as long as you have an internet connection and an online presence. You can be sitting at home in your pajamas and be able to make millions selling services or other products if your online store is well marketed.

3. Faster growth of small businesses - when you get your business online it would about $20-$30 to reach an audience between 3000-4000 people which means it would only cost so little to make your new business known to so many people out there that might be interested in your product or service.

Affiliate Marketing
Having a website or a blog that is frequented by a lot of people it one of the better things you can have to be able to make money online because if you have one of those you can use it to put up affiliate links and refer people to services for which you'll earn commission. If this sounds simple it's because it is but the hard part is to get to a website or a blog that a lot of people are reading. It takes some time for a new website to become popular and have a lot of traffic. It involves working hard and putting up content regularly but once you build your audience you can truly enjoy the passive income and quit your job to work from home.

The way affiliate marketing works is by offering commission for the products or services sold. There are a lot of websites that have various products and services listed and available, and all you have to do is sign up for their site and apply to be an affiliate for a product. Once you get approved (this usually happens really fast) you will get a unique link that you need to embed in you posts so your audience can see it and if they buy the product or service through this link you'll get a commission for it which can be anywhere from 20% to 200% depending on the product and the company offering it.

Make sure you refer your readers to products and services you really think are worth their trouble because if you refer them to something mediocre you might start losing your audience and your online income will take a hit. Do your research before you apply for any service to make sure you're an affiliate of something great and you can proudly present it to your readers.

There are various affiliate websites that you can sign up for and pick from the products and services they are offering including Rakuten Marketing, Share-a-Sale, Commission Junction, ClickBank, Impact Radius and a lot more but you don't have to use these sites to be an affiliate. There are many companies that recognized the potential in offering affiliate options on their own without using one of the websites above and they implemented an option where you deal with the company directly.

Overall, affiliate marketing is definitely the best way to make money online and build up your passive income which will allow you quit your day job and work from home and eventually pay people to work for you so you can enjoy your day and spend your time as you see fit.

eCommerce Business
eCommerce is a very fast growing business that people can utilize to take advantage of the rise of digital economy and make money online. This method also involves working from home and eventually it can be turned into a passive income stream that will only need maintaining rather than constant working and huge effort.

The model for eCommerce businesses starts picking a niche and persona. Once you've done that you'll need a website on which you can create your online store and pick a product that you believe will sell well and have the highest profit margin. It has to be within the niche you picked and match the persona you decided to represent. It's best to start with just one product rather than many because it can get messy if the orders start coming in and you can't cover the costs right away. There might be problems with shipping and returns which is really hard for newly made websites. Once you've established a good profit margin for one product you can expand and find out what else is selling like crazy so you can put it up on your page for your visitors to buy.

It's pretty straightforward model but the eCommerce market today is highly competitive and it's not easy to compete with websites that are already well established and trusted by consumers. However, it's still one of the simplest and most effective ways to make real income online using the growth of digital economy.

Coaching and Consulting

Take Advantage Of The Many Apps Available
Apps that are available on your smart devices aren't just for fun and games. There are many apps that have the potential to make you a lot of money if you are really devoted to becoming a part of the digital economy and make money online. There are few apps available that you can use to find a coaching or a consulting job and one of those is the Task Rabbit.

Task Rabbit
A very simple app to use that can make you some extra money. Clients post tasks on the app and you can apply for anything posted there. The various tasks can be simple and easy which would pay less and might go up to extremely complicated and require expertise in a field but they would also be paid more. To find a consulting or a coaching job you just need to search their database of jobs posted and see if there's anything available at the moment. You can also try other similar apps and not just stick to this one.

Utilize Money Making Websites
One of the better ways to join the digital economy and make money online is to use the websites available to everyone for making active and passive income. Some of the sites that are set up can be used to sell digital goods like designs for apparel but can also be utilized for consulting and coaching services. Basically the websites we're putting in this category are the ones that focus their attention on long term working relationships with freelancers in various niche areas including photography, design, content creation, online marketing, coaching and consulting. A few of the sites available on the web are the following.

Upwork
An amazing marketplace for freelancers to find a part time or even a full time job. It's great for selling any kind of digital service you can possibly imagine. The best thing is that what you need for this site is to be good at what you do. No need for creating your own website or a special merchant account. If your service is top-notch and your knowledge in the field you're working in is exemplary you have nothing to worry about. The only downside might be that there is a lot of competition and you'll have to "fight" to get a job but other than that it's an awesome place you can make money online which can easily turn into passive income.

Fiverr
Another similar website to Upwork but on this one you're posting what you can do for a certain amount while the minimum amount is $5. So if you're looking for coaching clients you can post a gig that will let people know you're available for coaching sessions for an x amount of money and people who are looking for something like that will be able to see your gig and hire you to be their coach.

Car Insurance

Any individual who has had to purchase car insurance may well have discovered huge discrepancies in the various quotations they are asked by different insurance companies. This has historically always been the case to an extent, but even more so given the rise of cost comparison sites online. It is perfectly possible to go to one of the major sites, enter your details and obtain up to 50 or so different quotations. It is not uncommon for these quotations to be anywhere between 200 and 2000 percent different from top to bottom of the scale.



People unfamiliar with the insurance industry wonder how can there be such vast discrepancies.. Whilst this can be relevant, what is more important is to realise that these discrepancies do exist and to take advantage of them in order to secure the best deal around. It is important to stress that the best deal is not necessarily the cheapest, but it is also unlikely to be the most expensive.

It is often assumed that all insurance companies assess risk in pretty much the same way. This is true to an extent, depending upon how much data they have, and what their experience of risk underwriting is. Different insurance companies will have different levels of expertise in certain geographical areas, regarding certain makes of car and certain individual age groups and demographics. This experience will influence their understanding of risk, and may differ widely from other insurance companies will have more on this experience in these areas.

Rating a risk is not simply a mathematical formula, although in theory this is what it is based on. Whilst an insurance company will assess a risk based on their own criteria, and then load it by a small margin to make it profitable, this is only half the story.

There has always been a theory and a practice as to how insurance companies rate risks. The theory is that they will evaluate a risk, essentially into a percentage figure, which is what they charge as a premium. In reality, it is also very much about what they can charge, or get away with, in order to win the business and make money out of it.

This has intensified hugely the transition to lots of car insurance being done online, where it is considerably easier for the insurance companies to link it to other types of insurance, and to various utility billing accounts, credit cards or loan financing. This means that insurance companies can make strategic alliances with other companies in order to obtain business which is to their mutual benefit.

Insurance companies will often undercut each other in a way that a lot of businesses will in order to attract customers, and hope that customer retention over time will allow them both to increase their premiums and keep the business without customers moving elsewhere. Whilst that is a fairly basic principle of how insurance companies work, it is much harder to do it online, it was much simpler by paper. It is very easy a customer to switch insurance companies nowadays, and this has certainly eroded a lot of the loyalty felt to companies previously.

The other important factor is that insurance companies make a lot of their profits from investing premiums, as opposed from pure underwriting profits. With most types of insurance, premiums are paid up front and claims paid much later on. With car insurance, the really big claims tend to be liability claims, which are notoriously difficult to settle, and normally take several years to agree upon.

This isn't necessarily insurers dragging their feet, although this can happen. With liability claims, it often takes a very long time to really assess damage caused to an individual, and how that damage has impacted on their lives, and in what ways.

What this also means is that for that for a period of time the insurer by and large will not have to settle a claim. They might make an interim payment, but that would normally be at their discretion. This means that companies can hang onto the premiums for quite a long period of time, before any claims have to be paid. This allows them to earn significant investment income, which they can then use to offset their level of rating in order to attract the business that they need to.

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Workforce Trends

The ever-evolving workplace may be a connected, vibrant space especially with the various workforce. The changes at macro level are never abrupt; rather they're a gradual transition evolving out of real-time situations. In present times, fluidity in talent with diverse cultural background and virtual workplaces demand a more flexible and adaptive approach. An indicative of the longer term workplace scenario, for the workforce to be motivated, it's important for them to be driven by a shared purpose instead of show them the carrot of competitive salaries and perks alone. Hence, the import of employee experience and therefore the harmony of AI and humans form the crux of workforce trends in 2020.
When change is that the only constant, the workforce would obviously be as agile and adaptive as talented. It's a-challenge-a-minute scenario from sourcing to retaining talent. In such a charged environ, ascertaining a general trend applicable to varied industries would contribute immensely in controlling costs while keeping an in depth watch on mobility and engagement of talent whilst keeping expectations real.
Technology and talent would play a more significant role in 2020
- consistent with an Ernst and Young estimate, the last decade from 2017-2027 will see the worldwide working population increase by 485 million.
- Age-wise, 82% millennials admit that workplace technology would influence their choice while accepting a replacement job.
- By 2020, it's expected that the workforce of 1 in four organizations are going to be a minimum of 30% contingent.
- it's long been said that technology plays a considerable role in employee retention. However, the years gone have taught that disruption isn't limited to technology alone; it extends to political and economical arena also .
- Yet, Gartner's 2018 way forward for HR survey yielded that above 60% of Chief Human Resource Officers (CHRO) worry about being unprepared for managing forthcoming technological disruptions.
- As PWC puts it, by 2020 a serious a part of routine transactional tasks would be automated.
Future Workplace and consider surveyed 1,601 workers across North America regarding perks offered by employers and located out that employees want the fundamentals first i.e. natural light, proper ventilation and cozy temperatures.
So pertinent is that this basic aspect that it can reduce absenteeism up to 4 days per annum . In fact, unscheduled absenteeism costs companies an estimated USD 3600 per hourly worker and USD 2650 for salaried workers per annum .
Future-enabled workforce strategy with a radical approach can change the dynamics of human capital trends that are fore-analyzed. In 'The Power to Perform: Human Capital 2020 and Beyond' PWC laid out the trail ahead and forward with 7 key pointers, namely:
- Build trust and purpose - so as to draw in and retain talent, the workers should be ready to trust the employer.
- Plan for the workforce of the longer term - Dynamic workforce supply and demand models are the necessity of the hour.
- Create digital 'talent exchanges' - Enhancing a far better match with the specified skill sets and other people , AI and ML (Artificial Intelligence and Machine Learning) would contribute majorly.
- Rethink skill development - Thinking in terms of redesigning academics and modernizing corporate learning is important for workforce to adapt.
- Digitize work - Digital and productivity are often two sides of an equivalent coin. However, those in job complain of fewer hours or free-time in hand to upgrade themselves whilst the 'newcomers' are inundated with online courses promising them the moon for tons of moolah.
- Embed human capital analytics - Priority decisions in business require data analytics targeting human capital or talent.
- Redesign compensation models - Reward and motivation values surface even in disruptive technologies scenario when redesigning of capabilities, roles and pay is deliberated.