The Top 3 Simple and Proven Types of Online Business
Are you thinking of starting an online business but not really sure what type
? Read on.
Starting an online business begins with choosing the right business model. "How will I actually make money" is the biggest question you should be asking once you have decided on a market and products to sell.
To help you, here are three different revenue models which work extremely well on the Internet.
#1 - Selling Advertising
Unlike the real world, you don't need to have special training to sell advertising. This makes selling advertising one of the first avenues for most people starting a business online.
Why? Because it's very easy and very profitable.
But here's the catch. To sell advertising you need to have a targeted group of people coming to your website, preferably in large volumes. Obviously, this is easier said than done, and could take time to build up to that level.
Here's the good news.
You don't always need to have lots of traffic to sell advertising space. Sometimes you can do something as simple as placing banners or text ads on your site. With this approach you only get paid when somebody clicks on your advertisement. This makes it a win-win for you and the person you are selling for.
There are many different advertising models, but here's the beauty of selling advertising in any form on your website. It's quick and it's easy to start generating money right away.
#2 - Selling Affiliate Products
Next, take a slightly more advanced business approach and step up from selling advertising to actually selling other people's products. For this, rather than a nominal fee per click, you get a share of the sales revenue generated by your website.
Want to know if this works? Have you been to Amazon.com lately? This is the same business model that was responsible for Amazon's phenomenal growth.
An added plus is that it one that works extremely well for both parties. The product owner only pays out when they make a sale. That means they made money they would not have if you hadn't been selling their product.
The great news for you is that as an affiliate you make a larger amount of money than with only advertising.
The best part? All of this is done without any contracts to worry about.
#3 - Selling Your Own Products
The final model is selling your own products as your main source of revenue. This can be anything from clothes to candles, to software to books, to hardware to cell phones, and on.
It is unlimited.
However, the most profitable type of product you can sell on the Internet is information-based products. Why? First, because they are easy and cheap to create. Next, because you are really selling just bits and bytes of data flowing over the internet there is NO INVENTORY.
All of this means less hassle and huge profit margins compared to selling physical products.
In fact, when selling digital products like eBooks, the return on your initial investment spent creating them is completely endless. And because there are no overhead expenses when selling digital information, you have a lot more money available to promote your website or spend on yourself!
One of the greatest benefits of selling information is that it is virtually hands-free most of the time. All of this allows you to create a passive income such as has never before been possible.
This phenomenon has led to entrepreneurs creating lifestyles where only a couple of hours of work are required per week. And even better, an endless amount of money can be made selling these digital products online.
So, get to work!
Use one or all of these top three methods and you will have started down the road to creating your own source of unending, passive income for life.
The Top 3 Simple and Proven Types of Online Business
By: Jenn Rush
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