What Business Model Will Be Best For You?

If you have been researching about how to make money online for any time at all you have discovered that there are hundreds… even thousands of methods that you can follow to create an online income for yourself… right?

So, which business model is right for you?

That’s a question that I cannot answer for you… in fact, nobody can.

I’m not you!

But, what I can do is discuss some of the various business models out there and point out what I have learned over the years in my search of the ideal online business for me… then, it will be up to you to make a decision for yourself… OK?

First, let’s agree that this post cannot possibly cover every aspect of every business model. In fact, even though I am going to dedicate several blog posts in this series discussing the possibilities, I still cannot thoroughly cover the subject at hand.

So, you will still need to do your own due diligence and research these discussions further.

To discover more about my preferred business model, check out this quick 4 minute presentation…
====>  https://homeincomebonus.net

 

Three Primary Business Models

I want to begin by presenting three primary business models, and give a basic overview of each one. These are:

  • Affiliate Marketing Business Model
  • Creating and Marketing Information Products Business Model
  • Network Marketing Business Model

There are other business models out there… these are the three I recommend. I utilize all three of these myself… I have earned money from all three.

Let’s continue to break each of these business models down further…

 

The Affiliate Marketing Business Model

In the Affiliate Marketing Business Model you, as a marketer, promote products and services for other people. When your presentation leads to someone buying that product, you get paid a commission for connecting the potential customer with the vendor selling the product.

How can you promote the products in question? There are lots of ways…

  • You might write a review of the product on your blog….
  • You might create a video showing the product in action…
  • You might just run ads for the product on different websites…
  • You may create a newsletter or eZine that reviews different products within a specific niche… such as cooking or outdoor sports… or making money online.

In fact, there are countless ways that you can promote products for other people’s products, thus earning affiliate commissions for yourself.

There are a lot of marketers who earn full time incomes just by promoting for other people.

One more thing… the products you promote might be either physical or digital products and services. Physical products would include things you would see on shelves at your local Walmart store. Digital products would include things that can be accessed or downloaded over the internet to your computer, tablet, or other similar electronic device. These might include eBooks, videos, audios, software, templates, and online memberships, such as Netflix or Amazon Prime.

Pros:

  • You don’t actually have to create the products or services yourself.
  • You don’t have to provide support for the products or services yourself.
  • Low cost of start-up
  • Low ongoing costs
  • Low risk
  • Targeted Traffic
  • Flexibility
  • High ROI

Cons:

  • You don’t actually own the product or service
  • You have no control over the product or service you are promoting
  • The owner of the products or services may be unreliable and not be diligent in paying out commissions

 

The Information Products Business Model

In the Information Product Business Model you actually have several paths to choose from…

  • You can create your products or services yourself from scratch
  • You can purchase what are called Private Label Rights products which allow you to modify, brand, and even claim authorship yourself.
  • You can purchase either Resell Rights or Master Resell Rights for products created by other product producers.
  • You can sell individual products, or market product collection memberships.

The list of possibilities are endless, but primarily you are marketing and selling information and training as your product.

Your product could be created in many formats…

  • You could sell eBooks
  • You could sell audio books
  • You could sell video training
  • Your product could be created in all three of the above at the same time
  • As stated above, your product could be a membership site offering access to many individual products for one single price… or a monthly membership that continually adds more content every month as long as the customer continues to pay their monthly membership fee.
  • You might offer graphics, software, and resources for other marketers to use in their business endeavors.

Again, the list of possibilities goes as far as your creativity takes you.

Pros:

  • You actually own the products you create or to which have purchased the rights
  • You have complete control of your business assets
  • You create the products once and then can sell as many copies as you wish… no inventory of products required
  • Since the products and services are digital there are no costs to manufacture or deliver them
  • Since the products are digital you have very little overhead… your ROI is usualy very high
  • Since your profit margins are high you can afford to offer large affiliate commissions to joint venture partners

Cons:

  • You have the responsibility of customer support for your products
  • You are responsible for creating not only your products, but marketing websites and resources as well
  • If you are inviting affiliates to market your products, you must provide marketing websites and resources for them as well… you must also be diligent in paying out commissions in a timely manner.

 

The Network Marketing Business Model

Network Marketing, or MLM as it is also known, has been around for a long time. You can find companies marketing everything from nutritional supplements to insurance or legal services.

The vast majority of network marketing companies market physical products such as nutritional suplements, weightloss shakes, jewely, or beauty products. However, some companies market digital products and services as well… for instance, the company I represent offers digital services to its customers and reps in the form of a Savings Portal which helps people to save money on travel and most everything else they spend money on.

Because you build a team of affiliates that all have the same goals and objectives as you… marketing products and building a team… you multiply your efforts.

The team building process enables you to create a long term residual income… You do the work once and income continues to come in without you actively having to constantly make new sales to customers.

Pros:

  • You build an army of affiliates so you are not personally responsible for every sale made to customers
  • As you build leaders on your team… the leadership responsibilites are shared among them
  • Retail sales provide the finances to run your company
  • Residual team sales funds the lifestyle

Cons:

  • MLM has been around for a long time and the shady marketing practices of many in the industry have tarnished its reputation
  • The costs of manufacture and delivery of physical products usually make up a very large percentage of of your products ROI

 

You Make the Choice

So, I ask the question again… What business model will work best for you?

Once again, only you can answer that question… but here’s my suggestion.

Do your “due diligence”… research… ask questions… my contact information is listed below and I will be happy to take the time and visit about discovering a business model that will work best for you.

To discover more about my preferred business model, check out this quick 4 minute presentation…
====>  https://homeincomebonus.net

 

Greg Ray
Home Income Bonus
1-405-556-1873
homeincomebonus@gmail.com

 

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