How To Make A Lot Of Money On The Side

5 Common Online Business Models Simplified 

Most beginners

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

ways one can make money online.  Unfortunately, all money-making approaches are NOT made equivalent. 

Survey Sites, performing microtasks for pennies, etc., are largely 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 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 proven internet business models below. 

     

  1. Freelancing

If you are on a tight budget, it’s better to begin with freelancing. The good thing about freelancing is that it forces you to master a skill thatyou can use to create an income online. 

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

production, etc.. 

Go to freelance sites like Fiverr, Upwork, Legiit, etc. to get an idea

of what the popular gigs are.  As long as you have the skills to deliver similar

services, you’ll 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 work on time or sooner, you can bet you are going to have repeat customers. 

As you become more popular, you can raise your rates and so forth.  The Money you earn from freelancing can be used to finance your other online

businesses. 

     

  1. Product creation

Product creation is one of the fastest and most lucrative ways to build

An online income.  Once again, you will need skills and expertise.  

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

From there, it’s just a matter of marketing to your niche audience.

Although this description simplifies things a lot, the point you should note is

that creating and launching your own infoproducts or tangible products is among the best ways to create an income online. 

     

  1. Affiliate Advertising

If you do not 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. 

     

  1. Ecommerce

Ecommerce has witnessed a boom because of 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 providers together with your own branding.  

Another type of ecommerce is known as’Print On Demand’.  In this

Business model, you’ll create designs that will be printed on hats, mugs, shirts, etc..  Websites like Custom Cat, Gear Bubble, etc will create the goods with your designs and ship 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’re starting out.  You will want to run advertisements and so on. 

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

product.  There are several marketers making 6-figure sums 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’re skilful, you’ll have the ability to

generate 6 figures in royalties. 

You will also have to know how to outsource some of your writing so that

It’s possible to scale up faster.  The key to increasing your earnings is to not only write yourself, but to hire others to write for you. 

Selling on the Kindle market requires marketing skills too.  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 might research other business models like domaining, arbitrage, etc.. 

If you choose a legitimate business model and you are focused and

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

How To Make A Lot Of Money On The Side

4 Crucial Skills You Will Require to Succeed Online 

 

It’s common

To see people posting questions on social media to boost engagement.  Among the

most common questions posed is,”What skills do you have to succeed online?” 

Invariably,

You will see people mention copywriting or paid ads or advertising… and other similar skills.  While those are important skills, there are 4 underlying skills that you absolutely MUST have before the remainder will work for you. 

If you’re a

Beginner to online marketing, it is even more important that you possess these

skills.  Below you’ll see 4 crucial skills you’ll need.  It might appear obvious to you, but you will be amazed at how most people drop the ball here. 

They get so

Busy focusing on marketing-related skills that the fail that the four basics below.   Be aware of these skills and hone them to your advantage.3

     

  1. Learning the ropes

To succeed online, you MUST be a fantastic student.  This is the first Skill you must develop. 

Choose one business model and examine it well.  Go deep into it and

discover the nuances and methods involved. 

It’s good to have a broad idea of what’s required.  For Instance, if you’ve Decided to try ecommerce and you’re going with dropshipping, you’ll need to

understand how to: build a shop, select products that will sell well, source for suppliers, guarantee product delivery with your branding, provide customer

service, process refunds, etc.. 

You will need to know every part of the company model.  This may seem Intimidating, but you do not need to learn it all at one time.  The best way to do it’s going to be to learn in stages. 

Which brings us to the next point…

     

  1. Applying the techniques taught

When you learn how to build a shop, go ahead and build it even if you

Have no products to sell.  You have to put on the knowledge you’ve learned… and you should do it as soon as possible. 

Building an Internet business is all about taking steps even when you can’t

See the entire staircase.  This will require courage and faith, but that’s just how it is. 

Once you build your store out, you can start finding products to populate

Your store, and after that it’s an issue of advertising and fulfilment and so forth. 

This principle applies to all online business models.  Learn a bit and

Then do a bit… then learn a bit more and do a bit more.  You’ll learn by doing. 

If you try and finish all the theory before you start, you’ll be

Overwhelmed and may never start.  Application of knowledge is the second skill. 

     

  1. Iterating your way to success

Iteration is another word for repetition… but in this case, we replicating

The process to acquire a collection of outcomes.  Here is the hard truth — not every product you try to market will triumph. 

In actuality, for 10 products you try, just 1 might be a winner.  This is normal.  As you get better, you’ll develop a nose to sniff out winning products, but even then, you will have duds. 

The same applies to most other online companies.  This is a numbers

game.  Not every book you write will sell well.  Not every domain you buy will be

sold for thousands… and not every product that you launch will be a winner. 

That shouldn’t stop you from trying over and over.  The more you produce, The more winners you will have.  Study your mistakes and failures and examine what went wrong.  From there, it’s only a matter of making changes and tweaks to enhance your performance. 

Repetition is the mother of skill… and it is the third one you must master. 

     

  1. Scaling up

The final skill assumes that you’ve already built a successful online

Business that making adequate profits.  However, to go from 4 figures a month to 5 or 6 figures will require you to scale up. 

This is a skill by itself.  You Will Need to manage your budget, outsource Many tasks, automate processes, and sell more products either by upselling or cross-selling. 

You may need to increase your advertising budget or hire a team of writers, etc.. 

More profits requires additional work.  Since your time and energy is finite,

You will need to understand how to scale up.  As soon as you master this skill, the sky is the limit for your business. 

Take note of these 4 crucial skills and master them.  You don’t need to Do everything at once, but you will definitely need master them all to achieve online Success in the long term.  Get started today.