In today’s lesson, we are going to take a look at a few business models that are currently within the industry of Internet marketing.
I’ll go over each kind of business model briefly and explain how exactly you can make money online with them. Of course, each kind of business model that we will go over today is covered in much more in-depth than here within the Wealthy Affiliate training course online.
1. Niche Marketing
Again, niche marketing is exactly what I do to make money online and this is something you will learn how to do in the beginner’s course in WA. To put it in simple terms all you do is choose a topic that interests you and a product or service to promote within that topic or “niche.” The more specific your niche is, the better your results will be. Remember my example of dog crates in the previous lesson?
Well, dog crates are an example of a specific niche.
When finding your niche you want to find a relatively small area of that market where you know people are going to be interested in reading more information online, but also where people are interested in buying particular products for that niche. A few examples of some niche ideas are:
- Weight loss for vegans
- Class board games
- Playstation 4 video games
- Dog toys
- Toys for babies
- Home Gardening
- Slow cooking
- And millions more!
The way money is made by this business model is that it is made by affiliates of the company that sells the company’s products to wanting consumers. The best part is that you can become an affiliate with a variety of different companies at once or just one if you choose. The choice is up to you.
2. Build An Authority Site
This is technically considered the second stage of niche marketing and this is perhaps the most aggressive part of the plan. With this, instead of just focusing on one part of your niche, you expand it to cover as many parts of the niche as you can.
Let’s continue to use the same example of dog crates as I did in the previous section. Instead of just featuring a crate for Boxers, you can eventually expand Boxer crates to other size and style crate for every dog breed alive today.
At first you simply start out with just promoting crates made for Boxers only. But with this business model, you will now help to promote everything dog crate related. Once you get enough customers, write enough articles and keep working on getting your site ranked, you will be an AUTHORITY in your niche. More people will most likely link back to your site and give other people to find your stuff much easier. This is where true financial success will set in.
However, keep in mind that you will need to ensure that you choose a good domain name in order for this to be successful. You want to pick a domain name that not only describes your particular niche but a name that doesn’t lock you into selling only one item within your niche.
3. Market Your Own Service
This is another business model that I use primarily for my freelance writing services. The moment you learn how to build a website, rank it and drive high-quality traffic to it, you have skills that are now in demand. While I know many people out there aren’t particularly fond of selling products, more are more willing to sell services and that is something that you can do with a website as well.
The first thing that you are going to have to do is create a logo, think of a name for your brand and promote your business in popular marketing circles. The one thing about marketers is that they LOVE hard working people to work on their websites, myself included. We love it so much in fact that we are willing to pay good money for it so we don’t have to do it ourselves.
Sure, there are plenty of people out there who can easily do this kind of work for us, but rarely do they know how to even market their own services! They may be great at creating a logo and building a site, but most of the time they don’t know how to get people to their service.
And this is only me talking about the online world.
Are you the type of person who owns their own physical business? Well, you can leverage what you learn about Internet marketing to take your business to the next level!
4. Local Marketing
Do you know what is even more surprising? Most small business owners in your own area don’t have a basic website that they own for their website. While there may be a business in your area that is absolutely awesome, if they don’t have a website people outside of your city may not even realize they exist.
Just think about it.
What happens if people from out of town tries to Google an awesome business in your neighborhood? What do you think they would find?
With the experience that you can learn from Internet marketing, you will be able to utilize your skills to build websites for these businesses around your town and help to rank them in Google. What is more is those small business owners are even willing to pay some heavy fees for a service like this, so you could easily make this into a wealthy business adventure.
The only hard part about this is that you will need to work up the courage to deliver a good sales pitch and refine your skills as time passes. However, I know plenty of people in WA that do this full-time. Once you have one person satisfied with your work, the more customers you will have come rushing to get the same service.
5. Run A Lifestyle Blog
Keep in mind this is not the official term coined for Internet marketing, but it is just as fitting in my opinion. However, it does takes a bit longer to make cash from this business model but it is perhaps the simplest concept that you will come across. It is even perhaps the most fun ways to make money online today.
Basically what this business model is that you will blog about whatever it is that you have a passion for. Think of what kind of hobbies you have or what interests you the most? I do this myself with my dog food site as this is something I have a passion for and I absolutely love blogging about it. To be successful with this I recommend posting a ton of videos to Youtube, updating your blog regularly and remain active on your social media sites. After some time you can even monetize your blog with Google Adsense ads to make some money off of it.
While it may not seem like much especially when you will only make a few cents per ad that is clicked, you need to put it into perspective. What happens when you drive 30,000 people to your blog every month? You will be able to make a decent amount of change from this and you don’t even have to promote anything to make some money.
What’s the catch?
The catch is that you need to make sure that you blog about something that is interesting enough that people will be engaged and interested in what you are writing about.
6. Developing Products
This is a business model that I don’t really recommend to any newbies out there as it is harder to branch out and be successful with. However, if you have a knack for business or a fantastic idea that you want to expand upon, this may be the business model for you. Even if you have a few ideas that you want to jot down in a .pdf file and wish to sell it to others, this can certainly be a profitable strategy for you to take one.
The way this business model works is that you initially make a product and hire other people to help you promote it or promote the product yourself to your own audience. This is where you can utilize niche marketers in your niche so they can promote your product with ease since they already know what to do to be successful.
7. Flipping Websites
This is perhaps one of the most popular business adventures today because it mixes the perfect combination of making quick cash and internet marketing. With this venture, you choose the niche of the websites, make a few sales and then make sure they have the ability to make some money. Instead of waiting for profits to slowly trickle in you can then turn around and sell the site or “flip” the site for even more of a profit.
In my opinion, this is one of the best business ventures to take on after you have made a couple of sites and have gotten enough experience under your belt.
Remember, these are not the only online business ventures out there today, but they are the most common and most profitable ones in my opinion. Now, don’t try to take on all of these business models at once or else you will get overwhelmed and get burned out very quickly.
The best advice that I can give you right now is that you need to follow the training laid out in Wealthy Affiliate and in here and start by making your first niche marketing website. As soon as you gain more experience and learn more, you’ll be able to figure out which direction you want to take your online business.
More About The Wealthy Affiliate Online Entrepreneur Certification Program
The best thing about the WA Online Entrepreneur Certification Program is that this is a course that will get you started with your internet marketing adventure. Not only will it teach you how to exactly begin niche marketing, but it will also help you to expend from there and make your business more profitable.
What this course does is take you from the ground up and give you the online marketing knowledge that you need to make a real money making website and that can give you long term financial freedom. Of course, it will all depend on how fast you get through the training.
In the WA Online Entrepreneur Certification Program, there are ten free lessons in total and they go much more in-depth than any of my lessons during this free online marketing course. Also if you need some extra help along the way you will always find support at WA when and where you need it.
But hold on. I am only talking about Level 1 of the Certification program. There are actually 6 Levels in the Program to get through!
In order to access Level 2 and up, you will need to be a premium member. I have been a premium member since June 2013 but we will talk more about that tomorrow. Besides I am confident by the time you get through the first level of the certification program you’ll see for yourself how amazing WA is and that you will be craving to start the second level of the training.
*Keep in mind, the “Certification” offered by WA is not a college or University course so it will not count towards any kind of degree.*
1. Complete Another Lesson in The WA Online Entrepreneur Certification Course
Remember, you have the ability to create 2 free websites with just the free membership of Wealthy Affiliate and by following the training provided within the community, you will easily be able to set up your own website even if you have no website building experience.
If you haven’t made a website yet, you can try a practice one for yourself by clicking here. If you don’t like it don’t worry. You can always delete it later.
2. Send Me A Shout-Out On My Profile
Since you have made it this far go ahead and send me a shout out on my WA profile. I would love to meet all of you! My goal is to help you succeed because when you do, I do too. By sending me a shout out I can follow everything you are doing within the community so I will be able to help out if and when I can.
Visit my WA profile by clicking here.
3. Give Yourself A Break
You have made it this far. You deserve a little rest and to let your brain catch a break from everything you are learning so far. Do whatever you want during this time!
As you know tomorrow is Day 5 of this training course. Tomorrow we are going to dig into the differences between the Free and Premium memberships at Wealthy Affiliate so you can see for yourself at the value that WA offers.
Keep in mind, Wealthy Affiliate helped to get me off the streets and is the reason I am financially free now.
Don’t miss tomorrow’s lesson! Look for my next email in your inbox!