Nowadays it’s possible to sell just about anything on the internet. While that may appear to be true there is still a lot that is required in order to be successful and actually make money online. In addition, not all business models are equal and have their own set of advantages and challenges.
So let’s explore the Top 5 Ways To Make Money Online so that you can determine what option is best for you.
Now the first way to make money online is through what we call e-commerce. This is where you create your own physical product or acquire the product from somewhere else and then re-sell it online.
In e-commerce you are also responsible for getting the product to the customer as well as handling things like customer service and the actual marketing of the product.
The second way to make money online is through drop shipping which is a streamlined version of e-commerce. The primary difference between e-commerce and drop shipping is that in drop shipping the manufacturer ships the product directly to the customer. Therefore, you are not physically handling or storing the product. In drop shipping, just like with e-commerce, you are responsible for selling the product online via an online store and for the advertising and marketing of the product.
The third way to make money online is through Network Marketing. This was traditionally an offline business, but innovations in technology have made it possible to build a Network Marketing Business 100% online.
Networking Marketing is similar to franchising where you can buy in to an already established system. In addition, the product fulfillment and customer service is handled by the company. You are also able to leverage your efforts by recruiting other partners and are paid based on the structure and sales volume of your organization.
Affiliate Marketing is the fourth way you can make money online. In affiliate marketing you promote other company’s products and services and get paid whenever a sale is made because of your referral. The company is responsible for product fulfillment, customer service and providing marketing materials.
Your primary responsibility is driving traffic to these offers, which is taking people from wherever they are on the internet and guiding them to these company’s sales pages.
The fifth way to make money online is through digital product sales. This is where you are creating a resource that is digitally available (such as an e-book, video training or online course) and once purchased you can allow others to access it online. You are also responsible for things like customer service and for the marketing of your digital product.
Furthermore, you can recruit other affiliates to promote your products for you and pay them a referral fee whenever they make a sale.
What Business Model Is Right For You?
So now that we’ve gone over the top 5 ways to make money online the question is what’s the right business model for you? Perhaps, you’ve already been exposed to one or more of these options and may wonder whether you’ve made the right choice. Or maybe you are looking to diversify and want to create multiple streams of income. So how do you choose?
Well first you have to decide on your goals. How much money would you like to make? What type of lifestyle do you want to have? What things do you like to do and what things do you hate to do?
For example, e-commerce is more hands-on and you are in control of the process – whereas in affiliate marketing most of the work is done for you by someone else.
Something like digital product sales is very profitable though it requires you to have the experience on the subject and time to create the product – whereas in network marketing the company you partnered with provides the product and your profitability is based on growing an organization.
The truth is there are many things required to build a successful online business, and it will take hard work, dedication and commitment regardless of what path you choose. There are advantages and challenges with each business model and your goals will dictate what option would be the best for you.
To help you out we’ve created a free training that goes over exactly what you need to have in place for a successful online business and will provide resources and recommendations based on your goals and desired path.
The training will also go over the importance of creating multiple streams of income and will reveal the most efficient ways to do this even if you are brand new or don’t have a lot of time.
CLICK HERE to access the training.
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