5 Common Internet Business Models Simplified
Who are new to online marketing tend to get overwhelmed by the sheer number of
ways one can earn money online. Regrettably, all money-making methods are NOT made equivalent.
Survey Websites, performing microtasks for pennies, etc., are mostly a waste of time and energy. Whereas other methods like affiliate marketing, arbitrage, product creation, etc. are extremely lucrative.
Knowing Which business model to choose is crucial 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.
If you are on a tight budget, it’s best to begin with freelancing. The fantastic thing about freelancing is that it forces you to master a skill which you can use to generate an income online.
Ideally, your skills should be related to internet marketing. For Instance, Digital graphic design, content creation, search engine optimization, video
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 provide 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 work on time or earlier, you can bet you’ll 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 fund your other online
- Product creation
Product creation is one of the fastest and most lucrative ways to build
An internet income. Once again, you will need skills and expertise.
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 what you are good at.
From there, it’s just a matter of marketing to your niche audience.
While this description simplifies matters 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.
- Affiliate Advertising
If you don’t wish to make 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.
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 suppliers together with your own branding.
Another sort 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.. Sites like Custom Cat, Gear Bubble, etc will create the products
with your designs and ship them out. It’s a really hands-free process.
Ecommerce does demand a budget to get started. You’re looking at
Anywhere from 1k to 4k when you are starting out. You’ll want to run advertisements and so forth.
This is a VERY profitable business model when you latch on to a winning
product. There are many marketers making 6-figure sums with dropshipping/print on demand.
- 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 .
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 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 choose a legitimate business model and you’re focused and
Consistent, you will reap the benefits and have an internet business you can be proud of.