This is the year that you plan to really succeed in your online business and make it a full time income. However, in order to build a successful online business, you need to first identify the primary business model you want to follow. There are millions out there, and you may already have one in mind or have one you have committed to. If not, or if you have decided you need to change your focus, here are 8 of the most popular online business models.
1. AdSense Site
AdSense sites are very popular with people that want a business model that is relatively simple and easy to implement. These sites usually consist of a blog or other type of website with many pages of content that is added to consistently. In order to be successful with an AdSense site, it’s important to rank well in the search engines for many long-tail keywords and to drive a lot of traffic to the site. These sites were extremely popular in the early days of the internet.
2. Affiliate Marketing
Affiliate marketers sell other people’s products and then take a commission on the sale. Business models for affiliate marketers might consist of an ecommerce site, mini-sites on a small niche, one-page sites for a specific product. You can even sell affiliate products on Facebook pages and by using YouTube to drive traffic to an affiliate offer. Most affiliate marketers also focus on building a list they can sell other products to over and over.
3. Info products
Many internet marketers have made their fortunes creating and selling their own digital infoproducts. These might include writing ebooks and guides, creating software, designing graphics, shooting informational videos, delivering ecourses, or writing private label rights products to sell. Most infoproduct sellers expand their income by recruiting affiliates to help.
4. Ecommerce Sites
An ecommerce site is an online store where you sell either your own products, drop-ship products from other vendors, or sell products as an affiliate. They can be a little more difficult to rank in search engines due to the lack of consistent, fresh content. However, good keyword research, SEO, and an active blog can make up for that.
5. Provide Services
One of the quickest ways to make money online is to offer your services through freelance sites. You can write articles and ebooks, design graphics, sell your programming skills, or charge for virtual assistant services. If you have a great deal of experience in one area, you can also sell coaching services.
6. Membership Sites
A membership site requires customers to sign up for a recurring payment in exchange for regularly provided content. Membership sites can be ongoing or a specified length of time. They might involve regular newsletters, new private label rights content each month, or even your own coaching services. It’s certainly attractive to know you’ll earn a regular income each month.
7. Flip Sites
Some marketers love the process of building websites, so they just focus on buying or building sites, then selling them. There are auction sites that specialise in this type of model.
8. Party Plan
Party plan businesses have been around for many years. The premise is simple – you get a distributorship licence to sell products on behalf of the company and earn commissions on your sales annd the sales of people that you recruit. There are party plans for every product you can think of: cleaning products, cooking utensiils, health and beauty supplies, stationery and cards or even gas and electricity.
Whereas traditionally these businesses required you to go out and sell face to face, increasingly they are allowing you to have a partial or even totally online business. One business at the forefront of this revolution is Younique, which offers a free website and facebook party system for its presenters
Where to Find More Ideas
The Warrior Forum has many, many types of business models that are sold through Warrior Special Offers (WSOs) which you’ll get ideas from. You can join their Warrior Room to get even more advice and ideas. You can also visit other internet marketing forums and websites where you can interact with successful internet marketers to get ideas and feedback.
How to Pick Your Business Model
With so many internet business models to choose from, it’s a challenge to pick just one to start with. Try looking first at what appeals to you straight away. What stands out? Then think about whether you already have the skills or whether you will need to learn them. Is there anyone you can easily outsource to if you don’t have the skills yourself? How much will it cost to implement this business model? Do you have the funds? Once you’ve answered these questions, just pick a model and run with it.
While you may need to do some more research to get a good grasp of the details and understand what’s involved in each model, you need to make a decision sooner rather than later. You’ll never make any money online if you don’t just dive in and get moving. So pick an online business model that appeals to you, put the blinders on and move ahead.