Online Business Models for Startups
For people who are just getting started with Internet Marketing, there are many paths they can choose from. The important thing is to make a choice, and then a firm plan, before jumping in.
The biggest mistake that many people make, is not to have a solid plan at the beginning.
So, what is a Business Model?
Lot’s of people will answer this question with entirely different answers.
In this post I am going to focus on Business Models for New Comers to Internet Marketing, who need to make choices, such as:
1. What types of products or services you will offer
2. How you plan to present those products or services
3. Who will be your target customers
4. How you plan to get your products or services in front of this target audience
Many people fail:
They actually never earn online, because they jump from one thing to another, always thinking “This will be the one that will work for me!”, but never sticking with any of them long enough to see it through to the point where they are earning from it.
By not making solid “researched” choices and planning how you will make a success of it, failure is looking you straight in the eye!.
What Should You do?
One of the first things you should do, is to find out what is involved with popular business models, and choose one of these models that you like and is within your skillset. With this knowledge, you have the information that You Must have to make informed decisions.
To give you the basics for some of the most common Business models that people are having success with online, we have listed some models below:
* Affiliate Marketing – Selling other peoples products, and receiving commission percentages for each sale.
* Email Marketing – Building a list of responsive buyers is a necessary task for everyone to earn online.
NOTE:
While there are people that solely use Email Marketing, pretty well all Internet Businesses have this as their main on-going form of driving traffic to their sites. Many use Email Marketing just for selling Affiliate Products,
If you are into Product Creation, then Email Marketing is your best sales tool, for making personal sales as well as for communicating with your own affiliates.
* Adsense:
Using content sites with Google Adsense showing other peoples ads, and you are paid for each ad clicked.
Once set up only need to drive traffic to your own content sites.
* Dropshipping:
A great place to start to experiment with internet marketing eCommerce models.
This is most popular based on either a single product sales funnel, or several related products set up in an online store.
So, when you make sales, the buyer pays you, at your retail price and for the shipping. You then order and pay for the product at your lower (wholesale) price, and the company (drop-shipper) delivers the product directly to the buyer.
* eCommerce:
Setting up online stores to sell tangible products.
These stores can be in one or more of many different niches, but are always niche specific, for each particular site.
Often, these are also Affiliate Marketing, because they are set up to sell products from a market place like Amazon,
Shopify, or Walmart, etc. The stores display products from the company, and the company pays commissions for every sale made.
* Product Creation:
Creating your own original products.
Usually written info products, audio tutorials, video tutorials, software products, etc.
These are then sold on the internet, and usually with a network of affiliates selling for you, as well as your own direct sales.
* PLR (Private Label Rights) products:
Creating info products and courses that are unbranded and are sold with rights for the buyer to reuse or resell as their own products. If you create quality products, this is a very lucrative business model.
* Software as a Service (SaaS)
You either develop your own online software products, or you can buy licenses for existing SaaS products. When you make sales you keep 100% of the sale. This is a great model for recurring income, as almost all are based on monthly or yearly fees.
There are many more you can choose from, and also many variations and combinations of the ones above.
If I was starting from absolute scratch today, I would take the following steps first:
1. Research and choose a specific niche to work in first.
2. Research various Business Models and choose one, that suits my skillset and my niche
3. Start building an email list, specifically in targeted to my niche.
4. Plan and start a Blog, again, specifically within my niche.
5. Plan and start my email marketing, with all emails targeted to my audience
6. Find and start promoting some related affiliate products.
7. Plan and start working on creating my own info product.
While all this is happening, I would be planning and working on:
Building My Brand – specifically related to my chosen niche.
Learning as much as I can about the topics related to this niche.
Building my Authority, especially on my Blog and in my
Social Media profiles.
The KEY to getting started is: Research and Planning!
If you are looking for some example Online Business Models, I have put together 7 of the models that are being used today, in profitable online businesses.
Each of these are covered by a brief description of the model, and the steps required to action each step, not in full detail, but at a level for you to fully understand what you would need to do to implement it.
Check out “Choose Your Online Biz Model” by clicking here!
Thanks for reading and please leave your comments or questions below!
All the Best!
Pete Bentzen
P.S.
BONUS TIP: – For Newbies to Internet Marketing, I recommend the Make Money Online Niche, because while you work in this niche, you will learn so much about internet marketing.
So, this will help you in the long term, no mater what niche(s) you may choose to branch into.
Leave A Response