In today’s economy, many people are looking for ways to make money on the internet.
There are dozens of business models to consider, but most people find it best to start with one of the five most common ones – affiliate marketing, info product development, service provider, self-publishing, and online coaching.
Today I’m sharing more information about each so you can see if any of these models would be a good fit for you or someone you know.
Keep in mind that you can use more than one of these if you’d like. In fact, I’ve used them all over the years and still use many of them today.
5 Best Online Business Models That Really Work
Model#1- Try affiliate marketing
Being an affiliate for someone else’s products is one of the best business models for newbies in the world of online marketing. With affiliate marketing, you don’t even necessarily have to have your own website (depending on the program).
You can make money by advertising on your list or social media if you don’t have your own blog to review and promote products. It also takes significantly less time to review products than it does to create them.
Affiliate marketing allows you to recommend products from different platforms depending on your niche. Be sure to look at both physical and digital marketplaces to see what’s available to recommend to your subscribers and blog readers.
There are many places where you can find products such as:
* JV Zoo
* …and also direct programs!
One thing you can do is type the niche or type of product you want to promote into a search engine and add the words affiliate program to see what comes up. There are many companies running their own programs that are not listed on the above platforms.
For example, if you are in the survival niche, you can go to ClickBank to find an information product to review. Then you can go to JVZoo and Warrior Plus to find content or courses to promote.
For physical stuff, you could go to Amazon and see what they have, but what if you wanted to promote a few different MREs (meals to eat)? You can find more programs by typing this keyword into search engines: Affiliate Program for Survival Food.
As an affiliate, make sure you’re getting the right commission (usually 50% of the sale) and note how long the customer is being cooked with your link to ensure you’re credited with the sale if they buy later.
If you would like a list of all the programs I have promoted this year you can get them here along with any copy I use to promote them.
Model#2- Create your own info products
If you want an army of affiliates out there working for you and also sending you tons of sales and subscribers – then consider creating your own info product and publishing it with an affiliate program.
Some new marketers get nervous about starting or dealing with affiliates, but this is the best way to brand yourself and build a following quickly. It requires you to network with others and see if they are promoting your product.
Decide on which topic you want to create a product on. Don’t worry about the competition or whether a topic has been covered before or not. Just pick something that you think people in your niche need help with.
Then figure out which method of disseminating the information is best based on what your audience wants and your ability to get the job done. Sometimes the two may not match, and that’s okay.
You might have an audience that devours videos, but that’s not your forte — and in that case, you can either outsource the videos, hone your skills, or just use text and see if they accept a different media format.
If the information is good, they usually won’t care. Text and video are the two most common methods of creating courses, but some have also been created using audio podcast formats.
When creating your product, make sure you offer it at a competitive price. You want it to earn enough to make it worthwhile for the affiliate to promote and review. But you also don’t want to deprive your audience of the ability to buy it.
Compare prices in your niche to discover what others are charging and strategize from there. Make sure you also develop a hearty affiliate program that will drive sales and help you build a list quickly.
Create a JV (Joint Venture) page that includes the launch dates and times, funnel design and price points, course details, and any other elements like prize money or swipe files that will help them promote you.
Decide which platform you want to start from – ClickBank, JVZoo, Warrior Plus, Udemy, Teachable, or maybe your own system like Amember. It’s up to you, but make sure your affiliates are well looked after and paid on time, both in commissions and prize money if you offer this.
As you build a list of buyers from your first launch, you work on the second in your line of info products. You can find out what else they want to see from your current buyers by surveying them — or just keep offering them what they need based on your initial research.
Model#3- Use your skills as a service provider
Sometimes you don’t have any resources or knowledge other than the talent you possess as a writer, graphic designer, or customer service representative. If you don’t have the money or desire to invest in a website to launch a product or advertise as an affiliate, you can start working for others who already have an online business.
Many people get these jobs through word of mouth when a friend who needs a provider connects them with a person who has the ability to fill their job request. They may need to write an eBook, create an eCover, or check their inbox with customer service requests.
You may be looking for someone to act as an affiliate manager and recruit potential top affiliates to come on board for future launches. If you can handle any of these tasks, you might want to start a service provider business model.
However, word of mouth is not the only way to get a job offering your services. There are sites like Upwork and even Fiverr where you can create an offer or profile to accept gigs and jobs for those you want to hire for them.
You might find an ongoing job where you routinely work for an established marketer, but it could be a series of one-off gigs where you’re hired by one client one day and another the next.
It all depends on what you offer and how long you need help with the task or service. When it comes to something like writing or graphics, it’s often a temporary exchange of money for the service until the job is done.
But if it’s customer service or affiliate management, then it could be an ongoing position that pays you regularly. With affiliate management, there can be a deal where you get a set amount or one where you get a share of the earnings.
If it’s the latter, make sure you negotiate ahead of time so you get a down payment on what you’ll earn. Don’t let a marketer promise to pay you afterward as some unethical marketers will take the money and run away.
When setting up a profile on a site like Upwork, you should set it up very carefully so that it offers lots of information that puts the customer at ease. Keep in mind that many marketers have saved up to outsource, so they don’t want to risk paying a freelancer to disappear with their money.
If you offer a service like ghostwriting or graphics, make sure you fill your portfolio with a wide range of options to consider. For example, if you can write about almost anything, present articles about health, success, and relationships so they can see your style.
You might also want to showcase different types of writing—like articles, sales copy, email autoresponders, and more. This gives the prospect an idea of how good you are at writing for conversions versus simply conveying facts and information.
When you’re on a site like Upwork, you can go out and bid for jobs instead of waiting for someone to find your profile and get in touch. Bid carefully and don’t use canned answers for best success.
They also don’t rely on platforms to get jobs. You can set up your own website where you offer services and charge any price you want, as opposed to how you have to be competitive in a bidding scenario on another website.
Make sure you’re still offering some of the same components. You will want to know details such as B. How much do you charge per page – and what do you consider a page? Is it line spacing, a certain font size, a certain number of words?
You don’t want the customer to think they’re getting a single-spaced, 12-point Arial font with at least 400 words per page when you’re using a double-spaced, 14-point font with only 250 words per page.
Set up a portfolio of samples so they can see your work.
If you don’t already have clients, you can show off some work you’ve made for friends and family. That’s right, examples of your work don’t have to come from real clients. In fact, most clients don’t want their work to represent your business, as ghostwriting is usually done discreetly.
The customer will also want to know a little about you. There are many scammers online, so while you don’t have to give out any personal information about where you live exactly, you should give them reasonable details about your experience with the service you are offering.
Make sure you also have a contact form. Some people put an order form directly on their website, but you should be careful when doing so. It’s always good to discuss a project with a client before allowing them to buy, so you know if the two of you are a good fit to work with.
Model#4- Try the self-publishing
Self-publishing is another business model you may want to adopt for your business. With this approach, you can become a best-selling author in either non-fiction or fiction, depending on where your skills lie.
Amazon and other platforms have made it easy for the average man or woman to write their own manuscript, upload it, and sell it to people on a global scale. They get paid 60 days after your books sell, and you get paid even if they buy a digital version to read on their devices!
Although you can do most of this yourself, whether you’re looking for fiction or nonfiction, there are two areas you might want to invest in. That includes having an editor go through this and hiring someone to create a professional cover for your book.
Model#5- Earn as an online coach
There are many niches where online coaching lends itself as a business model for those looking to work from home on their own. People hire coaches all the time to help them overcome personal obstacles and achieve success in something they are passionate about.
For example, you might want to start an online life coach store that helps people get through tough times, set goals, and work towards them until they achieve them. You can use free tools like Skype to meet with clients where you can see and chat with each other on a regular weekly basis.
To monetize this, you can sell individual sessions, or you can have package deals, e.g. B. Buy 4 and get the 5th for free. Take a look at others who offer this type of agreement with customers and see how it can fit into your online business.
There are many niches where all of these elements can make money for your business. Take the diet niche for example. You can affiliate with promoting physical and digital weight loss articles, create your own informational products, publish books on the subject, ghostwrite for others, and even coach people to succeed!
Whichever model you choose, make sure you set up a base like a blog where you can offer all your services and grow your following!
To Your Success!