3 WELL KNOWN ONLINE BUSINESS MODELS
In 2018, what are the main online business models and offers that out there that I can try?
There are plenty of business models and tactics that can be used today to start an online business, however you need to find what’s most suitable for you given your passion, talents and market value that you can bring to the table.
Primarily, there are two business models, you either sell a product or a service. Those products or services could be your own, or you could also promote and sell others, a model known as Affiliate Marketing. Affiliate marketing requires that you own demand in the form of traffic for your niche and earn affiliate income by directing that traffic to affiliate web links.
If you dig deeper, there are two types of offerings for online businesses, you could sell all-digital or all-physical products. Examples of all-digital includes selling online courses or other informational products using your own website or a platform such as Udemy. Examples of all-physical products include any tangible items that you can sell using your own website or through Amazon FBA program. In one of my businesses, I sell study guides for a niche in paperback format using my own website. You can build your own products or you can source them from overseas such as China.
Let me summarize some other business models that you can tap into depending on your own chances of success.
- Digital Products
- Amazon Kindle eBooks or Paperback
- Online courses (one of the most popular models)
- Affiliate products (ClickBank, JVZoo etc.)
- Physical Products
- Amazon FBA
- Drop shipping
- Traffic-driven models
- Affiliate marketing (Amazon, Adsense etc.)
- Niche blog
Last thing you want to do is to pick a model based on what’s hot or in fashion or what someone else used successfully, remember your mileage may vary.
Last but not least, subject matter discussed in this post, as well as others, is covered thoroughly in various online courses offered by Private Label Mastery.
Please feel free to share your questions or comments, I will be answering them over the next few days.