Internet business models are probably the most interesting but least understood aspect of doing business on the internet. There are lots of discussions about how a small business can make money on the net. But most resources don’t offer ways to select the best revenue model for doing business on the web.
Are you a working professional who are aspiring to be a small business owner? If so, here you’ll find proven methods for doing business on the net that will suit your needs. The following models can help create a low risk and profitable online business using your spare time, working from home.
Top 3 Internet Business Models
There are three major online business models that you can build a business around:
1. Sell a good: This is about selling goods, physical or digital. Some marketers will make mini sites with just a few pages and then drive paid search engine traffic to their sales page. Some others add more content pages to get free search engine traffic and direct visitors to their sales page. Some take orders from their sites and outsource handling and shipping of their products to dropship business partners.
2.Sell a service: If you have expertise in a certain field you can offer a service. Even if your service can only be delivered offline you can still reach a much wider audience. Using an informative and entertaining web site with an emphasis on the uniqueness of your service offerings you can persuade your prospects to hire you rather than your competition.
3.Market affiliate programs: An affiliate marketer builds a web site that caters a specific niche market. As an internet affiliate business person you presell visitors coming to your site and then direct them to affiliated merchants or sponsors. Using this model you’ll be able to generate revenue from many monetization models without having to sell a good or service.
“Which Online Business Model is Right for Me?”
First, determine your core strengths and how far you want to go in your business. For example, you have an offline business and you want to expand your market then selling a good is for you. What if you don’t want the hassles of order handling and shipping? Simple, have a drop shipping company to do the work for you.
Do you prefer to provide a service to local market or online audience? The beauty of this model is that your income is not limited by your time and your ability to deliver the service. You can sell e-books to visitors from different localities. It may also give you additional online advertising revenue through relevant affiliate programs and contextual ads.
Overall, there are more than one business model to create multiple streams of online revenue. But, whichever business model you choose only go for a niche market that you know and a subject that you love. These are keys for building close relationship with customers and securing long-term profitability for your business.