How To Make Extra Income

5 Common Online Business Models Simplified 

Most beginners

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

ways one can make money online.  Regrettably, all money-making approaches are NOT made equal. 

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 very rewarding. 

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

     

  1. Freelancing

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

Ideally, your skills should 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 will have the ability 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 job on time or sooner, you can bet you’ll have repeat customers. 

As you get more popular, you can raise 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 one of the fastest and most lucrative ways to construct An internet income.  Once again, you will need skills and expertise.  

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

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

While 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 make an income online. 

     

  1. Affiliate marketing

If you don’t wish to create products and deal with customer support, 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

Every 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 into 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 sort 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..  Sites like Custom Cat, Gear Bubble, etc will create the goods with your designs and send them out.  It’s a very hands-free procedure. 

Ecommerce does demand a budget to get started.  You’re looking at

Everywhere from 1k to 4k when you are starting out.  You’ll need to run advertisingand so forth. 

This is a VERY 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 will also have to know how to outsource some of your writing so that

You can scale up faster.  The key to increasing your earnings is to not only write yourself, but to employ other people 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

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 will reap the benefits and have an online business you can be proud of.

How To Make Extra Income

        3 Common Difficulties Most Newbie Marketers

Trying to build

An internet business will ask you to master new skills and get several moving

parts in alignment for your business to function like a well-oiled machine. 

It can be

Intimidating when you find how little you really know.  Every time you learn

something new, there’ll be something else that you need to figure out. 

It will

Almost appear to be a never-ending process… but rest assured, that with time you’ll

master the fundamentals and get your ducks in a row.  Below you will find 3 common

difficulties that many beginner marketers face. 

Once you’re

Aware of what these are, you will know what to do. 

1.   Selecting a business model

This is undoubtedly the most important decision you will need to make.  There is

A plethora of methods when it comes to making money online.  There is freelancing,

arbitrage, product development, ecommerce, Kindle publishing, domaining and much

more. 

The key to succeeding faster than most of the other people on the internet will

Be to focus on one business model.  Ideally, you should pick one which you could be innately suited for. 

For example, if you prefer working for others, freelancing is appropriate

for you.  There are numerous freelancers such as writers, copywriters, graphic

designers, software designers that make 5 to 6 figure sums working as

freelancers.  If you’re good, you will be sought after. 

If you prefer to build your own business where you are your own boss, you’ll

Need to look at the skills you’ve got or your natural abilities.  If you write well,

Kindle publishing may be calling your name. 

If you enjoy teaching others, you can create classes and launch your own

products.  So, ask yourself what you truly enjoy doing and what you’re good at.

 This is the key to unlocking your success online.  Do what you’re naturally

good at. 

2.   Mastering the ‘tech stuff’

Thousands of newbies quit on their online marketing dreams just because

the tech stuff overwhelms them.  The reality is that most of the technical details

are easy, when you know how. 

And if you really do not want to do it, you can always hire a freelancer

to do it for you.  Never quit on your online business just because you can not sort a tech issue out.  Rest assured, there are tens of thousands of qualified and

reliable freelancers who can help you. 

In most cases, you can learn just about anything from setting up a blog

To automating delivery of a product and much more, by simply doing a few Google

searches or look on YouTube for tutorials. 

These 2 free tools are lifesavers.  Technical issues can seem

Intimidating, but do not let them scare you off your online marketing path.

 There is not any rush.  Take your time and fix them, or pay someone to do it for

you. 

3.   Learning How to drive traffic

Traffic generation is one of those abilities that you MUST possess if you

Wish to succeed online.  As you could hire agencies to do it for you, if you are a beginner, it will be costly. 

It’s better to learn it yourself so that you do not have to rely on others.

The key to success with traffic generation will be to concentrate on one or two

methods.  Not more. 

For example, you may choose to focus on Pinterest marketing and Facebook

ads.  Once you choose the traffic generation method/s, stick to the selected ones before you see results. 

It may take time for you to get the hang of things, but once you master

The fundamentals, you will see trickles of traffic initially… and it’ll snowball into

enormous amounts of traffic. 

The 3 difficulties mentioned previously are nothing to be worried about.  Adopt

A proactive strategy and take consistent concentrated action daily and online success

Will inevitably be yours.