The first thing to do before starting your internet business is to decide which of the legitimate online business models you want to pursue. Starting with a faulty or fraudulent model is a guaranteed recipe for failure. Choosing the right business model that aligns with your strengths and preferences gives you a solid foundation for success. In this article, we are going to explore 3 online business models that have proven successful for thousands of entrepreneurs around the world.
Without wasting any more time, here they are:
Model #1: Selling ad space
The concept of selling ad space on your own website or blog has been around since the early years of the internet. The key to this business model is to have a large amount of consistent traffic to your site every month. If you have little or no traffic to your site, advertisers won’t find it worthwhile to invest in ad space on your website. By using a few simple tools like Alexa or Quantcast, potential advertisers can see how much traffic their website or blog is getting compared to other websites, so you can’t fool advertisers. If you have a popular website or blog, this business model can be extremely profitable. However, if your website isn’t getting traffic right now, you don’t have to beg advertisers to buy ad space on your web property. You can place Google AdSense ads that allow you to earn every time a visitor clicks on one of the Google ads.
Model #2: Selling e-books and information products
E-books and information products are in high demand now with the rise of online reading and tablets. This industry can only grow bigger and bigger. Although there is more information on the Internet now than ever before, people want their information in a more organized format and, most importantly, they want specialized information in a compact package. E-books and information products provide this. You can easily produce or outsource a 50-100 page eBook and sell it through a digital marketplace like ClickBank, or create digital products like video courses or podcasts that you can sell as stand-alone products or as a companion to your eBook.
Model #3: Selling other people’s products
Just like in the real world of commission-based sales, you can make money selling other people’s products. As? Through a wonderful online concept called affiliate marketing. In this model, you receive a personalized affiliate link that you can promote. If people buy products through your affiliate link, you earn commissions. The advantage of this model is that you can get started very quickly since you don’t have to spend time or resources on product development. Some of the top affiliate marketplaces to find products to promote include ClickBank and Commission Junction.
These 3 online business models have proven to be very profitable when executed well. Choose your model and start your research and then take action!