Now that you’ve got a list of potential niches for your business, you need to think about what type of business you want to start, i.e. your business model.
Luckily, there has never been a better time to start a business. The Internet is a powerful bridge for delivering goods and services from providers to customers, and connecting organizations to the help they need.
Below you will find ten of the most popular Internet-based business ideas, many of which can be adapted to the “real world,” if you so choose. All of these business types require some skills and experience, but all are made much easier through the use of online tools and resources.
There are, of course, a plethora of other types of businesses you could start. If you have an idea for a business model that’s not listed here, go ahead and run with it. Don’t feel like you have to conform to this list. It’s mainly for those of you who have no idea where to start, and to help the rest of you come up with some new ideas you may not have considered before.
Affiliate marketing involves creating a website or blog to sell the products of others. You earn a commission each time one of your referrals makes a purchase. You don’t have to actually create the products yourself and you don’t have to handle inventory and shipping. To make affiliate marketing work, you need to understand how to drive traffic to your site, and how to effectively promote your chosen products.
Real-world adaptation: You could become an independent sales person for one of the direct marketing giants like Mary Kay, Avon, Amway, Tupperware, Pampered Chef, etc. It’s basically the same concept: You earn a commission for selling someone else’s products. The difference in the real world is that you often are responsible for handling inventory and delivering the product to the customer, and you do need to pay for the sample materials and demonstration supplies out-of-pocket. However, this can be a great business model for someone who is a natural extrovert, loves talking to new people, and can really get excited about and stand behind the product they have chosen to sell.
Publishing Digital Products
You can also make money publishing your own digital products. Digital products come in many forms but are often e-books, videos, reports and other resources. For example, you can write your own books to sell on Amazon’s Kindle reader. The work for you is in creating and marketing your products. Focus on something you know well that you can teach others.
Real-world adaptation: Publish your products using traditional means, such as paperback and hardcover books, CDs and DVDs, etc. Distribute them through your own brick and mortar storefront, through other local shops, or as physical products sold through online retailers.
…to be continued…
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