Need To Make Money On The Side

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.  Unfortunately, all money-making approaches are NOT made equal. 

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

Knowing Which business model to choose is crucial to succeeding online.  You don’t wantto spend 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 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 must be related to online marketing.  For example, 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’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 good 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 forth.  The Money you earn from freelancing can be used to fund your other online

businesses. 

     

  1. Merchandise creation

Product creation is among the fastest and most lucrative ways to build

An online income.  Once more, you will need skills and experience.  

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

From there, it’s 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 tangible products is among the best ways to create an income online. 

     

  1. Affiliate Advertising

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

Each time you make a purchase.  There are thousands of products to market 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 known as’Print On Demand’.  In this

Business model, you are going to 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 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 will 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 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 have the ability to

generate 6 figures . 

You’ll also have 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 marketplace requires marketing skills also.  It’s

Not all 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 may research other business models such as

domaining, arbitrage, etc.. 

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

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