How To Make Extra Money In A Week

5 Common Internet Business Models Simplified 

Most beginners

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

ways one can earn money online.  Regrettably, 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 wantto spend some time and effort trying to ice skate uphill.  It’s best to go with the 5 recognized online business models below. 

     

  1. Freelancing

If you’re on a limited budget, it’s best to begin with freelancing. The good thing about freelancing is that it forces you to master a skill which you 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

creation, etc.. 

Visit 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 fantastic job and deliver the work on time or earlier, you can bet you are going to have repeat customers. 

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

companies. 

     

  1. Merchandise creation

Item creation is among the fastest and most lucrative ways to construct An online income.  Once again, you may need skills and expertise.  

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

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

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

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

     

  1. Affiliate marketing

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

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 seen 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 providers together with your own branding.  

Another sort of ecommerce is called’Print On Demand’.  In this

Business model, you’ll create designs which will be printed on hats, mugs, shirts, etc..  Websites like Custom Cat, Gear Bubble, etc will create the products

with your designs and send 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 are starting out.  You’ll need to run advertisingand so on. 

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

product.  There are many 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 be able to

generate 6 figures in royalties. 

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

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

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

Not all 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 like domaining, arbitrage, etc.. 

If you choose a legitimate business model and you’re focused and

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

How To Make Extra Money In A Week

What Do You REALLY Need to Create a Successful Online Business? 

Building an Online business can seem like a convoluted and arduous process.  There are several moving parts and you will need to get them all in working and functioning smoothly to start generating profits. 

While there Is some truth to the situation mentioned previously, the reality is that to build a successful online business requires only 5 components.  

The ‘make Money online’ scene is replete with courses and apps and’techspeak’ which only confuses and discombobulates most beginners.  This’sound’ drowns out the fundamental concepts of internet marketing. 

In truth, The 5 elements below are all you actually need. 

     

  1. An informative and engaging blog

Having a website is Essential.  It doesn’t matter whether you’re doing Kindle Publishing or affiliate advertising using social networking sites, you absolutely MUST have a blog/website. 

This will enable you to build your list and a connection with your

audience.  The problem with relying on social media accounts like Facebook or YouTube is that you’re going to be subject to their rules and they can throw you out at any time without warning. 

Thousands of people have lost their accounts and seen their businesses|companies} dry Up immediately because they put all their eggs in one basket… and it was someone else’s basket. 

Build your own site which you could call your own.  This is crucial.

     

  1. Products you can sell or market

To make money online, you have to sell something.  If you’re an affiliate Marketer, you’ll be promoting other people’s goods — and once again, something needs to be sold that you make a commission. 

However you look at it, you are selling.  As obvious as this may

Sound, so many novice marketers never appear to wrap their head around.  They’reso busy purchasing products and consuming information that they don’t realize they’re NOT selling anything. 

You will not make a cent unless you sell.

     

  1. Traffic

Traffic is the lifeblood of any online business.  Contrary to popular

Belief, a beautiful website and good content alone are no guarantees.  You’ll have to actively generate traffic to your site. 

You can either use paid traffic (quicker but more difficult/expensive to

Master) or free traffic which basically is either search engine optimization or

siphoning off traffic from more popular sites. 

You may do a mix of both or focus on just one method.  Either way, you MUST make traffic generation a daily task.  Do something each and every day thatwill contribute to creating traffic to your web properties. 

     

  1. A budget

People often scoff at quotes such as”It takes money to make money”… and

They use quotations such as”You do not lack resources.  You lack resourcefulness.” 

These self-help quotes aside, the truth of the matter is that you

Cannot multiply by zero.  You will need money to get a domainname, cover hosting and an autoresponder.  If you are doing paid advertising, you’ll need funds for that too. 

While the amount of money needed to build an Internet Business is a

Fraction of what you’d want to build a brick-and-mortar business, the truth is that it helps to have a couple hundred dollars on your budget when you’re starting out. 

Therefore, if you have a day job, do save up until you have some funds for your

business.  Do NOT be too quick to quit your day job.  Work at your job while

working on your business. 

When You earn enough online to rival your monthly salary at your day Job, you can choose if you wish to quit and go full-time. 

     

  1. A responsive email list

The final and most important component is your list.  There is no denying The efficiency of a responsive list.  A list of buyers (those who’ve purchasedfrom you before) is invaluable. 

Subscribe to a Trusted autoresponder service such as Aweber,

GetResponse, ConvertKit, etc. and build your list. 

These are the 5 basic factors which will decide if your online

Company takes off or fails.  Do give them the attention they need and your Business will soar in record time.