5 Common Internet Business Models Simplified
Who are new to online marketing tend to get overwhelmed by the sheer variety of
ways one can earn money online. Regrettably, all money-making methods are NOT made equal.
Survey Websites, performing microtasks for pennies, etc., are largely a waste of time and energy. Whereas other methods like affiliate marketing, arbitrage, product development, etc. are extremely lucrative.
Knowing Which business model to choose is imperative to succeeding online. You don’t need to spend time and effort trying to ice skate uphill. It’s ideal to go with the 5 recognized online business models below.
If you’re on a limited budget, it’s best to start out with freelancing. The good thing about freelancing is that it forces you to master a skill thatyou can use to generate an income online.
Ideally, your skills should be related to internet marketing. For example, Digital graphic design, content creation, search engine optimization, video
Visit freelance sites like Fiverr, Upwork, Legiit, etc. to get an idea
of what the popular gigs are. So long as you have the skills to provide similar
services, you will be able to make money.
It may take you a while to gain traction, but sooner or later customers Will hire you, and if you do a good job and deliver the job on time or sooner, you can bet you’ll have repeat customers.
As you become more popular, you can raise your rates and so on. The Money you earn from freelancing can be used to fund your other online
- Merchandise creation
Item creation is among the fastest and most lucrative ways to build
An internet income. Once more, you will need skills and experience.
For example, if you’re into fitness or survival or you’re really good at Building niche sites, you can write a book or create a course on what you’regood at.
From there, it is only a matter of marketing to your niche audience.
Although this description simplifies matters a lot, the point you should note is
that creating and launching your own infoproducts or real products is among the best ways to create an income online.
- Affiliate marketing
If you don’t wish to make products and deal with customer support, that is understandable. You’ll probably be interested in affiliate marketing. This business model is relatively hands-off.
You’ll be promoting other people’s products and be getting a commission
Each time you make a purchase. There are thousands of products to promote on ClickBank, Amazon, Commission Junction, etc..
As long as you can drive traffic to the sales pages, a percentage of
Your traffic will convert into sales and commissions for you.
Ecommerce has witnessed a boom due to the COVID pandemic. Millions of people are shopping online and getting used to it.
In ecommerce, you can either sell tangible products you create or you
May dropship products produced by suppliers together with your own branding.
Another type of ecommerce is called’Print On Demand’. In this
Business model, you are going to create designs that will be printed on hats, mugs, shirts, etc.. Sites like Custom Cat, Gear Bubble, etc will create the products
with your designs and ship them out. It’s a very hands-free process.
Ecommerce does require a budget to get started. You’re looking at
Anywhere from 1k to 4k when you’re starting out. You’ll need to run advertisements and so forth.
This is a VERY profitable business model when you move on to a winning
product. There are many marketers making 6-figure sums with dropshipping/print on demand.
- Kindle publishing
Kindle publishing is best suited for those who have always wanted to be
writers and publish their own book. If you are skilful, you’ll have the ability to
generate 6 figures .
You will also need to know how to outsource some of your writing so that
It’s possible to scale up faster. The secret to increasing your earnings is to not only write yourself, but to hire others to write for you.
Selling on the Kindle marketplace requires marketing skills too. It’s
Not all about being a good writer.
These 5 business models are a good place to start from. If none of them
Seem like your cup of tea, you may research other business models such as
domaining, arbitrage, etc..
If you choose a legitimate business model and you are focused and
Consistent, you may reap the rewards and have an internet business you can be proud of.