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5 Common Online Business Models Simplified 

Most beginners

Who are new to online marketing tend to get overwhelmed by the sheer number of

ways one can earn money online.  Unfortunately, all money-making methods are NOT made equivalent. 

Survey Websites, performing microtasks for pennies, etc. are mostly a waste of time and effort.  Whereas other methods like affiliate marketing, arbitrage, product creation, etc. are extremely rewarding. 

Knowing Which business model to choose is crucial to succeeding online.  You don’t wantto spend time and effort trying to ice skate uphill.  It’s best to go with the 5 proven online business models below. 

     

  1. Freelancing

If you’re on a tight budget, it’s best to start out with freelancing. The fantastic thing about outsourcing is the fact that it forces you to master a skill thatyou can use to generate an income online. 

Ideally, your skills must be related to online marketing.  For example, Digital graphic design, content creation, search engine optimization, video

creation, etc.. 

Go to freelance websites 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’ll be able to make money. 

It may take you a while to gain traction, but sooner or later clients

Will hire you, and if you do a good job and deliver the work on time or sooner, you can bet you are going to have repeat customers. 

As you become more popular, you can increase your rates and so on.  The Money you earn from freelancing can be used to fund your other online

companies. 

     

  1. Product creation

Product creation is among the fastest and most lucrative ways to construct An online income.  Once again, you will need skills and experience.  

For Instance, if you’re into fitness or survival or you’re really good at Building niche websites, you can write a book or create a course on what you are good at. 

From there, it is only a matter of marketing to your niche audience.

While this description simplifies things a lot, the point you need to note is

that creating and launching your own infoproducts or real products is one

of the best ways to create an income online. 

     

  1. Affiliate Advertising

If you do not wish to make products and deal with customer service, that is understandable.  You’ll likely 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 sale.  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 to sales and commissions for you. 

     

  1. Ecommerce

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 which will be printed on hats, mugs, shirts, etc..  Sites like Custom Cat, Gear Bubble, etc will create the goods with your designs and send them out.  It’s a really hands-free process. 

Ecommerce does require a budget to begin.  You’re looking at

Anywhere from 1k to 4k when you are starting out.  You will need to run advertisements and so on. 

This is a Really profitable business model when you latch on to a winning

product.  There are several marketers making 6-figure amounts with dropshipping/print on demand. 

     

  1. 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 in royalties. 

You’ll also need to know how to outsource some of your writing so that

You can scale up faster.  The secret to increasing your profits is to not only write yourself, but to employ others to write for you. 

Selling on the Kindle marketplace requires marketing skills also.  It’s

Not about being a good writer. 

These 5 business models are a fantastic place to start from.  If none of them

Look 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’re focused and

Consistent, you may reap the rewards and have an online business you can be proud of.