If you are thinking about how to start an online business, in this article I’m going to share with you, what I consider to be the 5 best online business models. For someone who is just starting out and want’s to earn a living working from home.
But first, I want to ask you a question? On a scale of 1 to 10… How motivated and determined are you, to start your own online business? If you scored a 7 or higher.
Then whatever you do make sure you tune out any distractions for the next 5 minutes and pull your seat in a little closer because as you read this entire article… Secrets will be revealed to you.
And if you read until the end, I will share with you 3 proven strategies that will help you to improve your chances of success.
And I’ll also share with you 4 things that you must totally avoid to ensure you have the best chance of starting your own successful online business…
5 Best Online Business Models
Before we cover what I consider to be the 5 best online business models for someone who is just starting out, I want to first warn you about something that can stall your progress or even stop you dead in your tracks.
The first thing is saying to yourself, I know that already. By saying that to yourself, you are essentially closing your mind off to new ideas and new ways of thinking.
The second is saying: I have heard something similar before. Which is very closely related to the first roadblock. And the third is thinking: maybe it works for them but it won’t work for me.
You Have To Believe In Yourself
You have to have an unshakeable belief in yourself and that you will succeed and if you don’t, you will sabotage any change you have at your online marketing success.
Fourth, you have to a have a clear goal and focus on that goal. Don’t let yourself become distracted by the latest greatest thing.
Pick a goal, then set a target date to accomplish your goal and get started on your path to accomplishing your goal and don’t give up until you reach it.
A large part of starting a successful online business is having the right mindset from the beginning and creating a positive frame of mind and following through with consistency.
Online Business And Road Blocks
One other thing you should be aware of is that along the way you are going to encounter obstacles for example, things that you don’t know how to do.
If you want to succeed you will have to become resourceful and use the power of Google and Facebook groups to find the answers to any problems you encounter.
If you still can’t find an answer after trying those methods I just mentioned, you can always hire someone who knows how to overcome your challenge.
Beware Of Fake Experts
A word of warning, be careful who you hire because online you will encounter all kinds of people who claim to be experts. Do your research and look into someone before you hire them.
If they say they are a Youtube expert for example, check if they have a Youtube channel and see how many subscribers and views they have.
That’s just an example but if goes for anyone you hire, whether you hire someone to run your paid ad campaigns like your Facebook ads, or you hire someone to create graphics etc.
Make sure they know what they are talking about and they have some proof to back them up.
Now let’s get into the top 5 best online business models starting with the number one model that is the easiest for most people who are new to online marketing.
Model One: Is The Easiest Online Business To Get Started
The number one business you can start and the easiest one to get up and running quickly with the minimum amount of financial investment is affiliate marketing.
In fact, you can start marketing other people’s products for free, all you need is a Youtube channel to get started.
If you haven’t heard of affiliate marketing before it is basically recommending a product, service or software in exchange for a commission if your recommendation leads to a sale…
Affiliate marketing is the first online business I started way back in 2007 and it is definitely the easiest to start and has very low up front investment to get started and the lowest risk.
All you need to get started is a traffic source, like I already mentioned you can create a Youtube channel and create content related to your niche or you can join a Facebook group related to your chosen niche market.
If you are really serious about affiliate marketing and you want to overcome the challenge of creating lead capture pages quicker, I recommend using Click Funnels to create your lead capture pages and a bridge page funnels.
Building an email list and following up with your prospects will make it easier for you to make sales and Clickfunnels makes creating the pages you will need quicker and easier.
I use Click Funnels in my own online business and of all of the page creators I have used over the last twelve years of marketing online, it is hands down the easiest and most versatile for marketing on the internet.
Software I Use And Recommend For Online Business Owners
You can sign up for a free 14 day trial of Click Funnels by clicking here.
Just to recap the first business model before we move on, affiliate marketing is basically the most affordable and the easiest of the five different models to start out with.
You won’t have any products or customers to deal with and this style of business will give you the most freedom, although there are downside to it as well that I will cover in more detail in a moment.
But you can literally run things from the comfort of your local coffee shop or work from home sitting on your couch.
This Has The Highest Profit Margins
The second business model I recommend which was the next model I started in 2008, is digital information publishing.
If I was starting all over again and I was wondering, how to start an online business this is the one I would choose first.
If you don’t know what digital information publishing is, it’s just basically sharing your expertise or knowledge about a particular topic in the form of an e-book , a digital video training course or in a membership training area.
The products you create are digital so there is no product inventory to worry about or shipping fees or you don’t have to worry about the time it takes to deliver a product to a customer.
You can either have them download the product or use a secure members area.
And the profit margins for a digital product based businesses tend to be rather high and the fact the online learning community is growing larger and larger everyday is a bonus!
It is currently a billion dollar industry and one that will be around for awhile. There are a few pitfalls you need to be aware of and avoid and I will cover those with you in a moment.
The Third Model Is Offering Your Services
The third type of business model is an online service based business. One example could be a Facebook Ad Agency running Facebook ad campaigns for clients or providing online consulting or coaching.
Another example could be photography or videography services that you market using the power of the internet.
It is a little more labour intensive than the first two models but a lot of people are running very successful service based businesses online.
Software As A Service Or SAAS
The fourth model is software as a service also known as SAAS and it probably is the most time consuming up front and requires the most investment to get started.
But you have the added ability to charge monthly for software as a service and a lot of people continue to pay monthly for years. Adobe for example charges monthly for all of their products.
Another example would be an email autoresponder service that companies use to send out emails to their prospects and customers. Or software for recording audio a podcast or for editing videos to name just a few some are monthly and some are a one time fee.
If you have a choice, focus on creating a monthly recurring subscriptions service over a one time software sale.
Drop Shipping Using Amazon
The fifth and somewhat popular one is to create a drop shipping service using the Amazon marketplace. I don’t personally like this model for a number of reasons.
One, you have to rely on someone else to stock and deliver the inventory and two the profit margins are lower than creating your own digital products.
There you have it, how to start an online business using these 5 proven business models.
How To Increase Your Odds For Success?
Now let’s talk about what you should do to ensure you have the best chance at success, one of the biggest factors is first choosing the right market and second is ensuring that the people in that market are problem aware and that they are already searching for a solution to that problem.
It is a lot harder to sell something to people who are not problem aware and know that they have a problem they want to solve, so keep that concept in your mind.
Who has a problem that you can help find the solution for? Make sure you focus is on helping and problem solving.
Now, the three hottest markets that you should be focused on are Wealth, Health and Relationships and sub-niches within these three niches.
Those 3 Markets Are The Markets You Should Focus On
Once you have chosen your target market, the next step is to determine who your ideal customer is. Before I get to that, here is something you should consider.
A lot of people’s main goal is to generate more income for their self but the goal of your business should be to create value for your customer and help your customers achieve their goals.
Helping your customer should be the first priority, if you focus on getting results for them first, then you are on the right path.
Your Goal Is To Help Your Customer Solve A Problem
Choose Your Customer Wisely
One tip for you is to think about who you can help to get the results they are looking for, if you didn’t receive payment, until they achieved their desired result.
This is important when it comes to choosing your ideal customer, so I will say it again.
Who can you help to achieve their goals if, you didn’t get paid, until they got the results they are going after? What type of person would you have to attract in order to make your job easier?
Finding prospects that are, problem aware and who are motivated and focused on solving their problems are a whole lot easier to help than someone who is not aware of their problem or ready to solve it.
Does that make sense to you? Do you see how choosing the right customer before you start your online business can affect the type of products or services you would create in the future?
Read The Section Above Again
I Know, We Covered A Lot Of Stuff
Now I know, I have given you a lot to think about and before I make a recommendation about what you should do next if you have more questions.
I want to go back to what I was talking about earlier in my affiliate marketing example about how people take the wrong approach to promoting other people products and services online.
A lot of people when they first get started in affiliate marketing get their affiliate links and they just start spamming anyone they can think of in Facebook groups or online forums and that is the totally wrong way to approach things.
You should be striving to create value in your market place and help people to get results in advance… That is the way that you build authority in the market.
You Have To Be An Authority Figure
How To Be More Successful With Your Online Business?
People pay attention to authority figures in their chosen market and attention is a form of currency.
If you attract and help people that are already problem aware they are more likely to buy from you because you have already helped them by creating reciprocity.
Another major problem I see is, people promoting products or services they have never used themselves by posting bogus reviews for products that provide very little value to the end user.
One tip I can give you is to never promote a product or service that you haven’t used or tried before and that you wouldn’t recommend to a friend or family member.
Don’t Be Focused On The Quick Sale!
You only have one chance to make a good impression so make sure you first provide value upfront in advance and that you only promote products you use and believe in yourself…
One of the fastest path’s to starting a successful online business is to model people who are already successful doing what you want to be doing.
And modelling not copying what they are doing. For example, what are they selling, how are they selling it, where are they getting their traffic? What is their unique selling proposition?
Then figuring out how you can do something similar but different in your own unique way. Hopefully you have some idea how to start an online business after reading this article.
Now if you’ve gotten this far in the article and you feel like you need additional help to get the next step.
What Should You Do Next?
I can recommend a course I have taken myself that is probably the most helpful and affordable online marketing course to help you start your own online business, that I have ever taken.
You can learn more about it right here.
Best Online Course To Learn Digital Marketing?
I have taken several online training courses over the years, some that have cost me as much as two thousand dollars and they didn’t provide half the value that this one does…
You can learn more about it right here… It is one of the best values out there.
Software I Use In My Online Business
For creating lead pages, sales pages and order pages I use Click Funnels,
For email marketing I use Active Campaign,
For funnel tracking I use Funnelytics
Starting An Online Business? Books I Recommend
Online Business Marketing Training Course I Recommend
This one is by far the best… Click Here To Learn More.
I hope you found this article helpful and if you have any questions, please leave a comment.