Make Or Break Internet Business Models
There’s a bewildering array of different “things” you could do online… of different business models you could implement with your online business.
You could easily include several models concurrently into your specific plan so you can have the “multiple streams of income” that everyone says you just must have!
However, the trouble begins when you become uncertain about exactly what your MAIN business model is…
Then your effort and focus moves from serving and building on that model, to jumping around and trying out other “things” to see if they work better.
So what business model (or combination of models) are you basing your online business on?
In other words… What are the main business models or methods you are using to generate revenue to sustain your online business?
Important – some of the items below may seem similar to others in this list. This IS intentional. They are just worded differently to help avoid any pre-conceptions you might have about different possibilities.
- setting up membership sites where you charge visitors a regular fee to use – or free, with a fee to use the advanced features of the site.
- reselling digital products with Master Resell or Private Label Rights
- writing your own digital product – ebook, e-course etc
- setting up a catalog site for your own items
- setting up a virtual marketplace (mall) for others to use to promote their products
- selling physical or digital goods by auction
- creating and selling digital products
- selling your own physical products/inventory
- selling other people’s physical products by drop-shipping
- developing content rich sites
- dabbling with audio and video
- promoting other people’s products as an affiliate
- promoting online or offline services as an affiliate
- generating leads for payment
- developing e-courses
- building directory sites
- lead generation
- blogging for money
- domain name flipping
- setting up affiliate programs to sell your product or service
- selling your personal online skills – web designers and programmers, consultants, virtual assistants.
- selling online services – Internet Service Providers, web hosting, domain name registration, hosted software solutions
- promoting your offline trade/professional services
- selling online advertising
- developing sites to earn money from Advertising networks like Adsense, Yahoo, Amazon, Chitika.
- building classified ad sites
- buying and selling web sites
- building communities – bringing like-minded individuals together to develop relationships, and share information and ideas.
- writing lots of articles to generate links back to different web sites – your own or affiliate pages
- providing, by subscription, valuable and timely information that’s hard to obtain elsewhere
- setting up “turnkey” sites
- online brokerage services – become the “missing link” between, for example, affiliate marketers looking for JV partners, or between buyers and sellers of various items.
- promoting MLM products and opportunities
- emerging online markets (WAP mobile and/or media)
- search-agent service to locate hard to find information
- focusing on email marketing by building your “list”
- developing infomercials
- providing comparison shopping services
- providing information products
- developing loyalty/reward systems
No doubt there are lot more ways you can make money online… this “list” is by no means exhaustive!
But your task is decide which are the MAIN models you are going to implement… and then STICK WITH THEM!
It’s far too easy to lose focus if you continue to chase the latest and greatest get rich quick idea.
So Ask Yourself…
- Which of these models most interests you?
- Which models best suit your “personal style”?
- Which models can you become an “expert” in?
- How can you “leverage” yourself to make the most money?
It’s funny but when people look at developing an offline business, they firstly look for a need that’s lacking in their community, and then try to fill it.
But when they go online, they look at how they can make a lot of money, and forget about the basics of meeting that missing need (which is probably where the money is!)
SO DON’T ASK which model will earn you the most money!
Ninety nine point nine percent of the time, it’s going to be the wrong reason to pick a business model! Besides… there are no guarantees that one model will earn more than another.
Online, money and success will come (eventually) with something you are passionate about doing!
By themselves, business models do not offer magical solutions to making money online. The most important ingredient for success is how YOU run your business!
If you want a hint at one essential business model you should include into ANY online business plan, it’s this one…
Build A LIST – Right From The Start!
Don’t delay or procrastinate on that fact at all!
Work out how to include that model in with whatever else you intend to do online!