With sports betting now on its way to being completely legalized throughout the United States, this is going to be a huge opportunity for anyone looking to make some serious money. Of course, most people are immediately thinking of how they can make money by actually betting on games and putting their sports expertise to use. However, this is still unlikely for the average person to accomplish and there are better ways to make money, such as being an information source or business, versus being a player in the system.
Today we are going to look at five different ways you can actually start making some serious money through the use of legalized sports betting. These methods will consist of everything from starting your own website, putting your expertise to use, and of course everyone’s favorite… affiliate marketing.
Billions of dollars will be generated through the use of legalized sports betting in the coming years, so make sure you jump into this space as soon as possible so you can get a head start over the coming competition.
Start an Affiliate Rating/Directory Site
Whenever something new and exciting comes into play, the majority of people are going to search Google for information and how to get started. This is something we have already seen in the cryptocurrency space and people wanting to jump invest and make money with Bitcoin. The same will happen with legalized sports betting and how people can start placing bets online.
A quick search on SEMRush for “how to bet on sports” will give you just a taste of the volume and wide range of search option that will soon rapidly expand in size. The only question here is, will these users find your site, or your competition?
For anyone interested in making money through this method, affiliate marketing and creating a rating or directory site of top places to make bets online would be ideal. While it is pretty easy to create a website or blog, the main obstacle here will be getting traffic to your website. Since there is already massive competition in this space and advertisers with a ton of money, you will need to look at other options besides pay-per-click marketing and other methods commonly being used. The more creative and value-driven you can get with your content and marketing, the better.
The benefit of creating an affiliate site is that you don’t have to deal with any of the customers or actually place any orders or bets. Your site will earn a commission every time a new player is referred to another site, and often these commissions are in the $100 plus range. Another benefit of promoting such offers is that there are usually large initial deposit bonuses which can increase your conversions heavily.
Launch Your Own Sports Betting Course
Sticking with the theme of the previous point, many people are going to want to learn how to place sports bets of their own. Unlike in a casino where you just walk up to a table and can place a bet (without having an idea of how to play), in sports betting there are a lot more advanced and different ways to place a bet. The more you know and understand this, the better your odds of winning.
With so many people looking up this information, it will provide a whole new audience an opportunity for people to make money. If you already know what you are doing in the world of sports betting and have some experience, you could easily create an online course of your own that not only walks the user through how to make the best bets on their favorite sports teams, you could also show them how to sign up for online sights and placing bets on video as well.
To see a few examples of online sports betting courses that are already working pretty well, just head over to Clickbank and search through their affiliate marketplace.
While looking through the different offers on their site, also consider your options with expanding to affiliate marketing as a merchant. Once you have a proven product or service to offer, you could drastically expand your business and reach by paying a commission to affiliates in order to promote your product — much like we covered in the previous point.
In addition to creating your own product and making a higher profit margin on each sale, another benefit here is that you could potentially create your own brand, mailing list, and following in the process.
Monetize an Existing Sports Blog
Sports blogging is one of the most active and competitive spaces on the internet today. There has always been an active discussion on how to best make money with a sports blog, as its one of the hardest things to monetize because of it’s audience type. Most people are visiting these sites to get scores and highlights, not to buy something.
However, with legalized sports betting now coming into play this might be an easier niche market to monetize thanks to global interest in sports, and online betting. Is it only a matter of time before we see a sports betting section added to ESPN and also seeing ‘place your bet’ ads throughout the site?
Again, the benefit here is that you can run a sports website the same as you always intended, but now you can integrate affiliate marketing and promoting relevant content to your audience in the process. Unlike selling individual game tickets, memorabilia, or collectibles, when promoting sports betting ads or affiliate offers on your site, this is something that could potentially relate to all audiences on a global scale, while also offering a much higher revenue in the process.
Create a Sports Betting Focused Agency
As we’ve already pointed out several times through this article, there is going to be a massive amount of money pouring into this space over the next several months and years. With that in mind, you don’t necessarily have to have a sports betting focused business to make money — At least, targeted towards recruiting players and having your own product.
To get your entrepreneur mind and financial dreams moving in the right direction, look no further than the latest figures out of Nevada, and how they’ve just recently surpassed all previous revenue expectations in reference to their sportsbooks earnings. Not only is big money being made/spent, it’s also going to be focused on advertising and reaching new audiences as well.
With an always growing demand for new advertising and leads to be generated, this means there is a larger need for online marketing companies and agencies as well. I’m sure many of my readers already have an expertise in SEO or social media and other creative ways to market a business, which could make this opportunity right up their alley.
Taking these same talents and practices, you could actually start an agency that is focused on just promoting online sports betting and charge a higher premium. Instead of just being a ‘marketing agency’, become a ‘sports betting marketing agency’.
Build Your Own Blog, Brand & Podcast
Combining each of the practices mentioned above, one of the best ways to take advantage of legalized sports betting is to actually build a blog, brand, or even a podcast of your own. The more ownership and authority you have within a niche market, the more opportunity you will have overtime.
We’ve already seen some explosive growth in the world of podcasting over the past several years. With several sports betting podcasts already out there, it’s not a matter of how many are available, but also which are the best and can make a grand following for themselves. If you think the market is already too saturated — it’s not. Thousands of people are listening to podcasts for the first time daily, and this will only increase as legalized sports betting makes its way across the country.
Again, this all goes back to if sports betting is something you are passionate about and have an expertise for. Starting a blog or website is one thing, but a podcast is another. Without the necessary funds to push your brand or service to the masses, these platforms will all take time to grow if you are only focusing on word-of-mouth and organic results.
However, with all of that being said — if you have a proven track record for selecting winning teams while also making a profit consistently, this is something that could definitely help improve your reach, brand, and authority over time.
The Business of Sports Betting is Here to Stay
With the legalization of sports betting now in play, billions of dollars will be generated on an annual basis. It’s not just the casinos and bet takers that are going to be making money, it’s also the professional sports associations, state taxes, and everyone in between. The only real people who are potentially not going to make money in all of this, are the players.
I actually just had the opportunity to visit the Borgata in Atlantic City and place my first legal sports bet in their casino. It was a simple $50 bet for the Lakers to win the 2019 NBA Finals and pays 6-1. It was quite a fun experience and I can see how this industry is just going to explode with new opportunity and revenue growth!
If sports betting is something that you would love to start a business around, you need to take the time to consider each of the options above and create something that will continue to generate revenue for the years to come.
The Ultimate Guide To Streamlining Your Accounts Payable Process
Let’s face it: the process of improving and streamlining your accounts payable process can feel like you’re drowning in a sea of busywork. It’s also one of the most important, yet overlooked, processes within a business that can actually make you go from negative to positive in monthly ROI. This is especially true with online businesses, as many of use are using various automation, SEO, and marketing tools that have built-in recurring monthly costs… but how many of them are we actually using, yet still paying for?
This is something I occasionally talk about on the blog, as it’s a great reminder to always keep an eye on not just what your monthly expenses are, but also what they are actually being spent on. We all watch the incoming and outgoing money within our businesses and brands, but many of us will forget to actually look through our credit card and banking statements to see who is billing what. Soon enough, you could have thousands in monthly recurring bills, and not even realize that you aren’t utilizing such services.
It’s not just affiliate marketers and bloggers that have to deal with these types of issues, it’s businesses of all sizes — and it really comes down to the various payment processors, invoice tracking, and tax software being used. The truth is that an inefficient accounts payable system costs you in time , money, and anxiety. Between chasing down your tax information, waiting for invoices to be verified, and frantically paying bills at the last second, things will slip through the cracks.
You won’t just lose money. Your company’s reputation will suffer as a result. You might lose important business relationships that you’ve worked hard to build.
It’s time to make a change for the better.
Read on to learn how to improve your current accounts payable procedures.
1. Look for Patterns in Your Payments
The first thing that you need to do when you’re ready to make over your accounts payable process?
Think about how you can get out in front of upcoming payments.
The best way to do this is to look for payment and invoice patterns, and then create a matching schedule of accounts payable.
For example, do you know that your supplier sends you a bill on the first Monday of every month? If so, you know that this payment to your suppliers is a fixed cost every month. You should schedule an automatic payment, since it will likely be in the same amount each time.
Additionally, figure out who you sent the most money to, the most frequently.
This will help you to keep better track of your spending pattern, and know who to prioritize when it comes to getting payments out on time.
One more thing you might discover during this review process?
The fact that you’re not exactly spending your company’s money in the most effective way. Taking a closer look at things won’t just help you to spend less time each month on accounts payable.
There’s also a good chance that it will help to save you some serious money.
2. Define Your Invoice Payment Strategy
You know that paying invoices on time and in the correct amount is an essential way to maintain excellent relationships with freelancers and suppliers alike.
However, if you’ve noticed that your accounts payable process seems to be missing the mark when it comes to invoices?
You need to make a change — and fast.
First of all, decide when you’ll pay the invoices that are sent to you. Is the goal simply to get them paid as quickly as possible? Or, is it better to send payments at a set date?
Determine the payment method that you use. Will you write them a check, or do they prefer to get their money sent to them via systems like PayPal? And which method of payment works best for your business?
You should also make sure that you have a strong record-keeping system in place when it comes to your invoices. That way, even if something does go wrong, you’ll be able to track exactly when and how it happened.
One final piece of often-overlooked advice?
It’s simple: make sure that you have the right employees working on accounts payable.
Is now the time to create a specific accounts payable department, as opposed to assigning invoices to “whoever has time” to complete them? What short of qualifications do the people working in accounts payable have? What sort of training program have you implemented?
These are certainly all things to consider — and to speak with your team honestly about.
If you need to hire someone new, then the cost of bringing them on will likely pay for itself in the time the rest of your team members will earn back.
3. Consider a Payment Automation System
Of course, if you’re truly serious about improving your current accounts payable process, then you’re likely going to need to invest in a payment automation system.
Look for a system that allows you to make payments in a variety of currencies and payment methods. You should also decide on an option that helps you to eliminate as many rejected payments as possible.
The goal here is to find a platform that helps you through every part of the AP process — including making early payments.
Also, ensure that the payment automation system you choose helps you to keeps things secure and compliant. The right system will scan potential payees and identify potentially fraudulent or problematic companies.
Finally, make sure that you take a close look at the transaction fees of any payment automation system you use. Remember that fees are usually charged on a per-transaction basis. So, cut down on the number of individual payments if possible.
Looking to learn more about what makes a great payment automation system?
If so, be sure that you check out the Tipalti website, to learn how their platform could save up to 80% of your accounts payable team’s time.
Once you’ve implemented each of these solutions and accounts payable processes, you may finally be at zen with your personal and business finances.
Ready to Overhaul Your Accounts Payable Process?
We hope that this post has helped you to understand what it takes to truly improve your accounts payable process — and eliminate errors in the process.
Of course, tackling accounts payable is just one smart of what helps you to streamline your time at the office, and get more out of every day.
You need to ensure that you have a strong digital and print marketing strategy, that you employees feel motivated within the work environment, and much more.
Keep on coming back to our blog to score even more tips on how to take your company to even higher heights.
How to Pick the Best Business Credit Cards for Startups
You obviously know about the existence of business credit cards, and you may have even heard about the benefits they give to companies, but you’re still worried about getting one for your startup. If that’s that the case… don’t be. I’ve personally used credit cards for my business expenses for over 20 years now, and as long as you stay on top of your payments, they are perfectly fine.
Right now, you may think you’re playing it safe by avoiding the plastic, but in reality, you’re missing out on a ton of great deals that could help your business grow and become more successful.
There are a variety of credit cards that you could choose from, and each card offers their own unique trademarks that you could use to your advantage. Let’s have a look at some of the best business credit cards for startups.
The Best Business Credit Cards for Startups That You Should Use
Depending on your type of business, you can gain some serious perks to help you level up your business game. Keep reading to find out more.
Decide How Fast You’re Paying the Monthly Bill
The first thing you need to worry about is the amount of time you think you will need to take care of your monthly statements.
Some companies can pay off their fees in full every month like clockwork. Others may only be able to pay off the bare minimum in order to keep things rolling. There are cards for both types of businesses.
If you know how to make the full payment each month, you should go for a card that gives you longer grace periods and a lot of rewards so you can capitalize on all of the benefits.
Charge cards are also handy for those who always pay in full. These little guys give you the money you need, as long as you’re able to pay it off within a 30-day time frame.
If you’d rather take your time paying off the card, then get a credit card that has a low-interest rate or a 0% APR to allow you time to pay everything off without any backlash.
As for my own personal and business expenses, I’ve always been a fan of American Express, and have been a customer of theirs since 2003. You can see a few of my other preferred business credit cards for entrepreneurs and bloggers as well.
Think About Operating Costs
One of the biggest reasons (if not, the biggest) why you want a credit card is to take care of the operating costs that come with every business.
Look through the spending log and see which of your operations takes up the most of your money, and then find a card that gives you benefits directly related to those operating costs.
For example, if you spend a lot on customer service, get a card that offers bonus points on spending in this category. That way you get returns as you spend cash.
The last thing that you should be worried about when choosing a credit card is are the credit expenses.
Different cards offer different costs on their monthly and annual fees. More often than not, this is directly related to the number of benefits and perks you get from using it.
The general rule of thumb is that the more basic the card is, the less you’ll have to pay in fees, and vice versa. It’s up to you to decide if you’re going to take the thrifty approach or if your business can fork the extra cash for the bonuses.
If you want to learn more about what card would suit your company best, check out this website for a list of credit card reviews and other things that could help your small business soar.
The One Stop for All Your Startup Business Needs
Now that you know about some of the best business credit cards for startups, you can make moves to grow your business! When starting to apply for different cards online, you may find better success with lower level credit options and stay away from American Express until you have a decent credit score or business history. If all of that already looks good, then apply away!
As mentioned, I’ve been making money online and helping businesses grow their reach and exposure for well over two decades now. If you ever have any questions or are in need of services, just send me an email and I’ll be sure to give you the answers that you need.
10 Tips to Create a Business and Work Environment that Employees Love
One of the benefits of having a healthy company is a productive team that goes above and beyond the call of duty. This is especially true for online businesses and brands that can hire in-house and remotely at the same time. With better time, money, and employee management, this allows the business to grow and scale, while also keeping the internal structure secure at all times.
Having happy employees and team members is more then just about ‘working environment’, it can also lead to a more accountable staff, which often show up to meet deadlines and complete projects not only at a faster pace, but also in high-quality. This type of atmosphere can actually lead to healthier morale for other employees.
However, just having this type of work environment and in-office ethics doesn’t just happen. It’s usually seen when the leaders of a company show them how much they care. Caring for employees means more than making sure they receive a paycheck. You have to be present.
A great boss shows up to set clear expectations. They coach their employees to meet goals and offer constructive feedback. But compassionate leaders don’t stop there. They go beyond goals and expectations to ensure their employee’s happiness and health.
If you want to keep your employees committed to the company’s success, keep reading. Here are 10 thoughtful tips for practicing top-notch employee care.
1. Keep the Workplace Safe
One of the best ways to show your employees you care is by maintaining a safe work environment.
Establish safe office practices and make sure your company is up-to-date with its safety training through a platform such as SaftetySkills. These practices serve as preventatives. And, less illness and injury occur.
You reduce health and safety hazards and help your workforce boost productivity. And, you protect the company’s reputation by shielding it from grave consequences.
2. Employee Surveys
You won’t know how to care for your employees if you don’t know what they need. Employee surveys offer that opportunity.
Poll your staff about all the services and benefits you provide them. With anonymity, your team can provide honest data about the company as a whole.
Through surveys, you can also discover the needs of your employees you haven’t served.
Use the survey data to find avenues for improvement. Set up action plans. Then implement them in a way that services the entire staff.
3. Open-Door Policy
The open door policy is an age-old communication policy. Leaders-CEOs, managers, and supervisors leave their doors open to promote transparency in the office.
An open door encourages employees to communicate with the upper manager. This policy gives them an opportunity to voice their concerns.
This may not work in every office situation, but the principle itself can. Set aside specific hours where you are available to floor staff.
Or, host weekly or monthly office town hall meetings. Use this platform as a forum for employees to shed light on concerns plaguing them and the company.
4. Wellness Benefits
The mental and physical well-being of staff is important for every company. Unhealthy employees mean an unhealthy office.
A good employee wellness program comes with several benefits.
Office wellness promotes less absenteeism. Employees look and feel healthier, eliminating health risks that keep them out of the office.
Productivity spikes as a result of a great wellness agenda. When you encourage employees to eat, sleep, and focus well, they perform better in the office.
Also, when a healthy staff knows that a company cares about their overall health, they stick around.
Wellness programs improve employee retention. Good employees stay where they’re cared for.
5. Relate to Your Staff
Often senior executives believe and behave in ways that make them appear superior to their staff.
Resentment can grow in the office as a result of this. Your team should not view your position as an unobtainable one, but rather one to strive for.
Find positive ways to relate to your team to change their view of you as a leader. Host company family picnics. Company picnics create a family environment.
Professional bonding outside of the office boosts morale amongst employees. Also, seeing a boss in a family atmosphere changes an employee’s view of them.
Leaders appear more paternal than pompous.
6. Professional Support
The unspoken rule is the client is always right. That’s not always true or right, especially when it comes to backing good employees.
When a staff member has a complaint about a client, listen to the complaint then do something about it. Let your employee see you act on it. Then follow up when the action’s complete.
It’s important for employees to know they’re not just seat fillers schmoozing clients to make money for the company.
They need to know the work they put in matters. And when a client shows them otherwise, the company should have their back.
7. Stay on the Honeymoon
In the application process, recruiters break out all the stops. They court potential employees with paid vacations, sick time, and weekends off.
And then when they hire them, they give nothing else but paychecks.
You have the employees you hired for a reason. Their qualifications and skills met the job requirements, and they meet standards every year.
Don’t let the good you do for them stop at the hiring process. Stay on the honeymoon.
Offer perks and random spiffs. Reward perfect attendance. Payout unused vacation time. Allow top performers to use the company jet once a month.
Lease out a restaurant and celebrate employees when the company achieves record sales.
Keep the professional love alive. This keeps good employees from looking at other companies as well.
8. Growth Opportunities
No person with secretarial skills wants to be a receptionist their whole life. Offer multilevel training to your employees.
This benefits them and the company.
Training and development opportunities can be anything from customer service to human relations.
Offering employees other avenues to grow within the company increases job satisfaction. In turn, you decrease the employee attrition rate.
Morale increases and staff members become self-motivated when they know opportunities are available.
9. Unique Working Spaces
A cubicle should never feel like a prison, even in the most productive situation. Let your employees modernize their workspaces.
Be open to the concept of different furniture styles and color schemes. Let your staff hang art and use tasteful cubicle walls covers.
Since they can’t open the windows in most office buildings, allow for small indoor desk plants.
Employees spend 10 to 12 hour days working hard your company’s vision. Let them feel comfortable doing it.
For any entrepreneurs working from home, you will understand this all too well. Your workspace needs to be a fun and productive place to be!
Just take a look at my home office below as an example!
10. Culture is Everything
Your company’s culture is its personality. Make sure the vision, mission, and expectations aren’t driving good employees away.
Quality company culture fosters loyalty. When employees believe in the company’s purpose, they support and remain true to it.
Job satisfaction is an important part of company culture as well. When you invest in your staff, the result is happy, committed employees.
A corporate culture steeped in positivity and opportunity reflects care for employees. It can make a company one of the best places to work.
Connect with Your Team through Employee Care
Employee care is the driving force for any company who desires continued success. It is the backbone of company culture.
And, it shows that you’re a leader of leaders, not just worker bees. Show employees you care by making the success of the company a collaboration.
If you found these productivity and business tips useful, be sure to also check out our recent article on ten productivity killers that are wasting hours of time per week.
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