The first thing you need to do before you start your Internet business is to decide on which of the legitimate online business models you want to pursue. Starting off 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 to be successful for thousands of entrepreneurs worldwide.
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 lots of consistent traffic coming into your site every month. If you have little to no traffic to your site, advertisers will not find it worthwhile to invest in advertising space on your website. By using a few simple tools such as Alexa or Quantcast, potential advertisers can see how much traffic your website or blog is getting in comparison 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 is not getting traffic now, you don’t have to beg advertisers to buy ad space on your web property. You can put up Google AdSense ads that enable you to earn every time a visitor clicks on one of the Google ads.
Model #2: Selling Ebooks and Information Products
Ebooks and information products are very much in demand now with the rise of online reading and tablet computers. This industry can only grow bigger and bigger. Even though there is now more information on the Internet than ever, people want their information to be in a more organized format, and more importantly, they want specialized information in a compact package. Ebooks and information products provide this. You can easily crank out or outsource a 50-100 page eBook and sell it through a digital marketplace like ClickBank, or create digital products like video courses or/and podcasts that you can sell as standalone products or as accompaniments to your ebook.
Model #3: Selling Other People’s Products
Just like in the real world of commission-based sales, you can make money by selling other people’s products. How? Through a wonderful online concept called affiliate marketing. In this model, you are given a personalized affiliate link which you can promote. If people buy products through your affiliate link, you earn commissions. The upside of this model is that you can get started very quickly as you don’t have to spend time and resources on product development. Some of the top affiliate marketplaces for finding products to promote include ClickBank and Commission Junction.
These 3 online business models have proven themselves to be very profitable when executed well. Choose your model and get started with your research and then take action!