Ways That You Can Make Money From Your Online Business Model
If you are convinced by now that you wish to do an online business and would like to find out which business models are available, this article is written specially for you.
The different avenues that you can make money are:
1. E-bay model
2. E-Affiliate/network marketing programs
You earn a commission if you are successful in selling affiliate books, programs or network marketing programs. This business model has advantages in that you do not have to create your own product or write your own sales letter. You also get a replicated website as an affiliate. All you need to do is to actively refer your friends and market the product or program.
3. E-Shopping model
In this model, you are interested to sell your goodies online. Here, your website will feature pictures and clear descriptions, shopping cart and a payment processor. However, if you are selling physical products, you have to be address issues like warehousing and delivery.
4. E-directory model
Here you create a free directory of various resources and links. Your job is to drive traffic to this site. You make a revenue from businesses who wish to advertise on your website.
5. E-Create-a-product Model
This can be in the form of either a digital book or software product. There are lots of advantages of doing an e-book. An e-book is low cost to produce as you just need to write it once and update the contents as and when necessary. You also get to keep all the profits as there is no need to go through a publishing house
Similar advantages also exist for producing a software product. The difference between producing an e-book and a downloadable software product is that you can charge more for the lattar due its higher perceived value and thus earn a higher profit.
6. E-Membership Model
In this business model, you create a high quality, content-rich site and charge your members a subscription every month in order to use your site's resources. This is a good business model to follow as it helps you earn a recurring income. However, you must be able to continually update its content; otherwise, your members have no incentive to stay.
7. E-Professional Services Model
8. E-Zine Model
In this model, you are publishing a content rich newsletter for your subscribers in a particular interest group. You either earn revenue from promoting on the related products advertised in your newsletter or charging your members a subscription fee.
The models mentioned above depict the main ways that you can earn money. However, they are not the only ones available. It is good to spend some time analyzing on how you would like to make an online living. Happy hunting!