How To Make Money Online As A Pharmacist

5 Common Online Business Models Simplified 

Most beginners

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 equivalent. 

Survey Sites, performing microtasks for pennies, etc. are largely a waste of time and effort.  Whereas other methods such as affiliate marketing, arbitrage, product development, etc. are extremely rewarding. 

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

     

  1. Freelancing

If you are on a limited budget, it’s better to start out with freelancing. The good 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 Instance, Digital graphic design, content creation, search engine optimization, video

production, etc.. 

Visit 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 provide similar

services, you will 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 job 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 forth.  The Money you earn from freelancing can be used to fund your other online

companies. 

     

  1. Product creation

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

An internet income.  Once again, you may need skills and experience.  

For example, 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 which you are good at. 

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

Although this description simplifies things a lot, the purpose you should 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 marketing

If you do not wish to create 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 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 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 known as’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 goods with your designs and ship them out.  It’s a very hands-free procedure. 

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

Anywhere from 1k to 4k when you’re starting out.  You’ll want to run advertisingand so forth. 

This is a VERY profitable business model when you move 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’re skilful, you’ll be able to

generate 6 figures in royalties. 

You’ll also have 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 employ other people 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 like domaining, arbitrage, etc.. 

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

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