Over the last few years, internet has changed many aspects of our lives. This includes new career opportunities as well. Online businesses have become very popular. Not only that, internet and online businesses have disrupted traditional way of doing business across the world. Online businesses over the last decade and a half have disrupted industries and have changed the way we commerce forever. The purpose of this blog is to focus on something specific for those who are looking for career or additional source of income by way of discussing most profitable internet business models.
Along with the information in this blog, you may also benefit from Best Passive Residual Income Ideas.
How internet changed my life?
I consider this as my sacred duty to share with my readers that what qualifies me to write this blog on the broad subject of internet and business. About two decades back I earned degree of Master of Business Administration in general management followed by another post graduate diploma in international trade from one of the prestigious institutes of the country. I worked for top companies for a few years before turning and entrepreneur as a business consultant. You can also check my profile.
I needed some media to broadcast or advertise about my services. I began with my business website and then I taught myself to popularize this website and my services through other websites including social media. During this journey, I got convinced that I can do better if I professionally learnt digital marketing. I am glad I did so because there has been no looking back since.
Internet and Business
During the course of my learning digital marketing (which I am doing even now by updating my knowledge) I decided to add some profitable internet business models also to my business. Today it good chunk of my regular income is drawn from if you profitable internet Business models. Hence it is my earnest desire to share with all my readers the various business opportunities and career opportunities which Internet offers today. You can choose one or more of these Internet Business Models depending on your background, education, training or interest etc.
Recommended reading: Easy Ways to Earn Money through Internet
Most Profitable Internet Business Models
For the last several years, I have been working on several different business models that are available right now and have actually made if you hundreds to thousands of dollars on each one of these methods. It is almost like discovering the digital gold rush.
Also read: Success Factors for Small Business
Hence to learn about how to make money online, please read on to know about the all.
1. Google Adsense
For the bloggers or the webmasters, Google AdSense is perhaps one of the easiest internet business models to earn money. Basically if you are good at writing or content creation, you can attract a lot of traffic of the online readers to your blog or website. These readers might get attracted to click on some of the advertisements running on your web pages. These advertisements are published on your blog through Google who undertakes to run these advertisements on behalf of the advertisers. All you need to do is have an approved AdSense account from Google and paste HTML code on your site. Google pays you for clicks (CPC) or the number of Impressions. Why Google is the master of the game, there are other alternatives also available such as Chitika, Media.Net( Yahoo/Bing Advertising Network), Infolinks etc.
However, it is my learning that Google Adsense is probably the most widely accepted method to earn money by running the advertisements on your site.
This is another extension of the Google AdSense model to earn money online. Instead of running the advertisements on your blog, you may choose to create interesting, useful, educational videos on any subject you like or know about and allow Google’s company YouTube to run ads on them. The earning model is almost same – you get paid for the number of ads scene and/or click on.
The condition here is that you need to be passionate about your subject and not necessarily master offer subject. Secondly, your viewers have to fall in love with you videos and await your next release. Thirdly, you must upload good quality likeable videos regularly and frequently.
3. Affiliate Marketing
Affiliate marketing is a concept where you help a company sell the products or services. This company could be the owner of the brand or a consolidator / e-commerce seller such as Amazon etc. In other words, you did not create these products or services but you promoted the sales of these products through your website, email marketing, social media network etc. (to name a few)and in return you are a certain percentage of the value of the product or the service sold by becoming an Affiliate.
There are many sites like Flipkart, Clickbank, Hostgator, Bluehost Amazon that provide you with the opportunities to become there affiliate marketer.
To use the specific jargon of the affiliate industry, the affiliate marketing business is the business of generating leads to get the sales of products and services. For this you have to associate with one or more companies who are either selling these products or affiliate networks (agencies that bring together a number of affiliates to relieve work advertisers).
To start with, you can become the affiliate of Amazon. It is one of the best known online affiliate programs and Amazon is one of the well known companies in the world. It is also one of the most trusted names.
4. Sell your own Product or Service Online
If you are reading this section, there are good chances that you are thinking of selling something online. Well you have many choices as well as good completion, yet there is good scope if you know how to select a niche product line and match it with the right segment which would want it.
You have also to choose between starting your own E-commerce website / online store or existing ecommerce giants like Amazon, Snapdeal, eBay or Flipkart. Whether tangible product or services like teaching science or how to draw or giving piano lessons – only sky is the limit. If you have special talents or skills then you may sell your services at Fiverr, Upwork, Freelancer and so on. Please do refer to: Best Freelance Writing Sites To Get A Job
Your age, education, financial status are no bar. However, to be successful you may have to begin carefully with proper planning and taking one step at a time. It would not be a bad idea to initially take the help of a professional digital marketing professional. For example, you have to think of selling something unique at the right price to the segment which values what you are offering online.
5. Sell Digital Information Online
After the internet became a mainstream phenomenon about two decades back, it changed life including the ways to sell around the world. This gave birth to the system if E-commerce. More than 35 percent of the world’s internet users buy one line at least once and this trend is growing. In 2016, the size of e-commerce was estimated to be $2.35 trillion.
This growth of online selling has also created market for tips, strategies and life style ideas such as how to do yoga, how to lose weight, how to train dog, how to do strength training for fitness etc. The customers want the guidance and the popular formats are passbook protected videos, CD, DVD, eBooks, audios, a webinar, a membership website. These products can be shipped of downloaded electronically from your website.
6. Online Lead Generation
Online lead generation is an Internet marketing term where you using the internet tools of your choice to attract potential customers for a particular product or service, inform them of the availability of such a product or service –which is being offered by your client and then you re-direct potential customers to your client through the Internet. In addition to simple selling, leads or contacts, can be generated for a variety of purposes: list building, e-newsletter list acquisition, or for other member acquisition programs.
7. Drop Shipping
This is an interesting eCommerce business model where you sell to your customers the products without having to manufacture, store or even see them. Drop shipping model allows you to buy products individual products from one or more wholesaler of your choice and ship them directly to your customers.
In simpler terms, you don’t need to stock or own the inventory. Unlike the standard retail model, you simply purchase as and when needed from a third party – usually after receiving orders from your customers to complete the orders.
As a new entrepreneur, you get many advantages, such as low start up capital requirement, wide product range and wider geographical coverage. Also this business model is quite scalable.
With the unprecedented popularity and use of mobile phones, mobile apps are a great business model.
As a company into mobile advertising or app development or digital marketing or even as an individual app developer, there are many ways of making money. Beginning with Freemium where the basic version is free, you can offer the extra features or premium version for a price.
Second method of generating revenue is earning through advertising. Also you may offer an advertising free experience for a price to the users. Both ways you earn money.
Another way is to offer paid apps.
What is the right Internet Business Model for you?
Well the answer to this question is not simple and only you can decide that what model or models would you like to begin with and continue working. Your decision should be made on the time slots available, total time per day you can commit, your skill sets and liking. Also keep in mind that building internet business requires serious efforts,sincerity, hard work, persistence and ‘Never Say Die’ approach.
If you are serious about starting your own business, reading following articles may be very helpful:
- Ideas to Earn Money as an Entrepreneur
- Tips to do well in New Business Venture
- How to Start a Business with No Money
- Five Steps to Investing in Stock Market