business model

Selecting a Successful Online Business Model

Selecting the right online business model is vital for determining your future success.  Be sure to choose a model that matches your lifestyle and goals.  Here are some ideal online business models that you can choose to secure your financial freedom.

Blogging

Blogging remains one of the best ways to bring in revenue online.  However, blogging isn’t an immediate money maker.  You have to consistently work at it before your results can take effect.  Blogging is a great way to promote your business and your reputation even if you decide not to use it as your primary source of income.  Once your blog is established and able to generate enough traffic, you can start making money on it by adding affiliate links or paid advertising.

YouTube

Now more than ever, videos are starting to replace written content.  Customers are preferring video content and it has the potential for going viral.  YouTube is the largest video streaming platform that more and more people are using to create videos.  You can build up a following and then market to them.  Using this strategy is much quicker than blogging in most cases.

Selling Physical Products 

Another option is selling physical products online using the help of other services.  The service Fulfilled by Amazon (FBA), allows you to simply ship your products to Amazon.  They handle all the sales, processing, and delivery of the products.  The customer service is also handled by Amazon.  Because of the fact that Amazon does a good portion of the business, they also take a large portion of the profits.  There is also the options of using third-party logistic companies or drop shipping.

Creating an Online Course

Udemy is one of the top online course platforms.  With the cost increase in education, more people are going to online courses for instruction and convenience.  You should consider creating an online course if you are an expert on a particular topic.  Don’t be intimidated by the thought of creating an entire course.  It’s not as hard as it sounds.  However, you will be responsible for handling your own marketing and course promotion.   For more information on promoting your online business see our previous post, Promote Your Online Business Like a Pro.  

Freelance Work

If you’re looking to earn some money on the side then freelancing is the way to go.  This gives you the ability to work from anywhere utilizing the skills you already have.  You can also use freelancers if you are trying to enhance your current team.  Virtual assistants can be hired to handle administrative tasks like email management, data entry, and social media posting for as low as $5 per hour. Whatever business model you choose should be complementary to your business goals and lifestyle.  Your online success is just around the corner. #businessmodel

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