Thursday, May 9, 2013

How Do You Decide Which Business Model Is The Best For You When First Starting Out?

There are many ways that you can build an Internet business and each of the different ways might work well but may not be the best model for you. In this article I want to help you determine which business model might be the best one for you. I will look at 3 different models. Physical products There are plenty of websites online that sell physical products. If you already have a business off-line and you are selling products then you can do exactly the same online by using a website as your virtual shop where people can purchase your items. However most people wanting an online business are not in the position to be able to manufacture physical products themselves. If you want to sell physical products without manufacturing them yourself then you can become an affiliate for a company that does sell them.
Affiliate products There are many companies that have websites online that sell physical and digital products. Many offer affiliate programs whereby you can sign up and promote their products and their website to other people and if someone makes a purchase you receive a commission for referring them. This is a good business model if you do not want to create any form of products yourself and if you do not want to deal with any payment processing. However your income may be limited if you choose this business model. Information products The best model that I have found is producing information products. People use the Internet to search for information and help on things and they want that help straight away. Therefore creating digital products that provide that help that people can download instantly is a great business model of the Internet. You could promote other peoples information products and therefore become an affiliate however, as I mentioned above your income is likely to be limited. If you want to earn a full-time living online then you need to create your own information products. You can produce information products in written format such as an e-book, as an audio file or as a video. People can download the information instantly and of course there is no effort on your part in having to ship anything. Therefore with this model a lot of your business is able to run on autopilot which is why it is so popular as you are able to earn a full time income without having to work full time hours.