How You Make Money Online

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.  Regrettably, all money-making approaches are NOT made equivalent. 

Survey Sites, performing microtasks for pennies, etc. are mostly 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 some time and effort trying to ice skate uphill.  It’s ideal 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 outsourcing is the fact that it forces you to master a skill thatyou can use to create an income online. 

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

creation, etc.. 

Go to 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 customers Will hire you, and if you do a fantastic job and deliver the job on time or earlier, you can bet you are going to have repeat customers. 

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

companies. 

     

  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 experience.  

For Instance, if you are into fitness or survival or you are really good at Building niche sites, you could 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 things a lot, the point you should note is

that creating and launching your own infoproducts or tangible products is one

of the best ways to create an income online. 

     

  1. Affiliate marketing

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

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

Business model, you are going to create designs that will be printed on hats, mugs, shirts, etc..  Sites like Custom Cat, Gear Bubble, etc will create the products

with your designs and send them out.  It’s a very hands-free procedure. 

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

Everywhere from 1k to 4k when you are starting out.  You will want 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 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 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 secret to increasing your profits is to not only write yourself, but to hire others 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 good place to start from.  If none of them

Seem like your cup of tea, you might 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.

How You Make Money Online

4 Crucial Skills You Will Require to Succeed Online 

 

It’s common

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

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

Invariably,

You’ll see people cite copywriting or paid advertisements or branding… and other such

skills.  While those are important skills, there are 4 inherent abilities that you absolutely MUST have before the rest will work for you. 

If you’re a

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

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

They get so

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

     

  1. Learning the ropes

To be successful online, you MUST be a good student.  This is the first Skill you need to develop. 

Choose 1 business model and study it well.  Go deep into it and

discover the nuances and methods involved. 

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

know how to: build a store, choose products that will sell well, source for suppliers, ensure product delivery with your branding, provide customer

support, process refunds, etc.. 

You’ll need to know every part of the business model.  This may seem Intimidating, but you don’t need to learn it all at one time.  The best way to go about it’s going to be to learn in stages. 

Which brings us to the next point…

     

  1. Implementing 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 must APPLY the knowledge you’ve learned… and you should do it as soon as possible. 

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

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

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

Your store, and then it’s a matter of promotion and fulfilment and so forth. 

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

Then do a bit… then learn a little more and do somewhat more.  You will 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 just another word for repetition… but in this case, we repeating

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

In actuality, for 10 products you attempt, only 1 might be a winner.  This is normal.  As you get better, you are going to create a nose to sniff out winning products, but even then, you will have duds. 

The same applies to many 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 tens of thousands… and not every product that you launch will be a winner. 

That should not stop you from trying over and over.  The more you produce, The more winners you will have.  Study your failures and mistakes and analyzewhat 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’s the third one you must master. 

     

  1. Scaling up

The last skill assumes that you have 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 Several 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 more work.  Since your time and energy is finite,

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

Pay attention to these 4 crucial skills and master them.  You don’t need to Do everything at once, but you’ll definitely need master them all to reach online Success in the long term.  Get started today.