What To Do In Spare Time To Make Money

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 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 very lucrative. 

Knowing Which business model to choose is crucial to succeeding online.  You don’t need to spend 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’re on a limited budget, it’s better 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 must be related to internet marketing.  For example, 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.  So 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 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 raise your rates and so forth.  The Money you earn from freelancing can be used to fund your other online

companies. 

     

  1. Merchandise creation

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

An internet income.  Once again, you will need skills and expertise.  

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 is only a matter of marketing to your niche audience.

Although 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 make an income online. 

     

  1. Affiliate marketing

If you don’t 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 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 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 with your own branding.  

Another type of ecommerce is called’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 send them out.  It’s a very hands-free process. 

Ecommerce does demand a budget to get started.  You’re looking at

Everywhere from 1k to 4k when you are starting out.  You’ll need to run advertisements and so forth. 

This is a VERY profitable business model when you move 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 have the ability 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 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 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 online business you can be proud of.

What To Do In Spare Time To Make Money

4 Crucial Skills You Will Require to Succeed Online 

 

It’s common

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

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

Invariably,

You will see people mention copywriting or paid ads or advertising… and other similar skills.  While those are important skills, there are 4 underlying abilities that you absolutely MUST have before the rest will work for you. 

If you’re a

Beginner to online marketing, it is even more important that you have these

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

They get so

Busy focusing on marketing-related skills that the fail that the 4 basics below.   Know about these skills and hone them to your advantage.3

     

  1. Learning the ropes

To succeed online, you MUST be a fantastic student.  This is the first Skill you must develop. 

Choose one 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 is required.  For example, if you’ve Decided to attempt ecommerce and you are going with dropshipping, you’ll need to

understand how to: build a shop, choose products that will sell well, source for suppliers, guarantee product delivery with your branding, provide customer

service, process refunds, etc.. 

You will need to know every area 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 phases. 

Which brings us to the next point…

     

  1. Applying the techniques taught

When you learn how to build a shop, go ahead and build it if you

Have no products to sell.  You must APPLY the knowledge you have learned… and you should do it as soon as possible. 

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

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

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

Your store, and then it’s a matter of advertising and fulfilment and so on. 

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

Then do a little… then find out a bit more and do a bit more.  You will learn by doing. 

If you try and finish all the theory before you start, you’ll be

Overwhelmed and could never start.  Application of knowledge is the second ability. 

     

  1. Iterating your way to success

Iteration is just another word for repetition… but in this case, we replicating

The process to get a series of outcomes.  Here is the hard truth — not every product you try to market will succeed. 

In actuality, for 10 goods you attempt, only 1 may be a winner.  This is normal.  As you get better, you’ll 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 purchase will be

sold for thousands… and not every product you launch will be a winner. 

That should not stop you from trying over and over.  The more you create, The more winners you will ever have.  Look at your mistakes and failures and examine what 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 is the third one you must master. 

     

  1. Scaling up

The last skill assumes that you’ve already built a successful online

Company that making decent profits.  But to go from 4 figures a month to 5 or 6 figures will require you to scale up. 

This is a skill on its own.  You Will Need to manage your budget, outsource Several tasks, automate processes, and sell more goods either by upselling or cross-selling. 

You may need to increase your marketing budget or hire a team of writers, etc.. 

More profits requires more work.  Since your time and energy is finite,

You’ll need to learn 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 do not need to Do it all at once, but you will definitely need master them all to reach online Success in the long term.  Get started today.