The Most Dangerous Number In Business

There's a well known saying that says, "Don't put all your eggs in one basket." In the case of your online business, it means you need to ensure that all your online income doesn't come from just one source.

Having several income channels means that if one channel starts to fall off, you'll have others that can help your income while you explore new online business options.

One is the most dangerous number in business.

Although an online business is probably the easiest business to start up, you can't rely on just one product at one price to generate all your online income. Successful online businesses have a good mix of related products and services that deliver income channels.

Sell Information Products

One of the best information products you can produce is to write and sell your own eBook. You need to write an eBook on a subject that people are looking for information about. The subject can be one that you're very experienced about or it can be one that you become knowledgeable about by researching the information you need to know. The great things about producing an eBook is that you create it once and you can sell it again and again.

Sell Other People's Products

You can sell other people's products as an affiliate. You find a product that you believe is good and will sell well and you begin to promote it. Each time you make a sale, the product owner will pay you a commission. Promoting just means that you're raising awareness about a product by driving traffic to it. You can promote physical and digital products on your website, in your eBook, in articles and on popular social sites.

Create A Membership Website

A membership site means that you get paid to pass your knowledge onto others. Let's say you're an expert on dog training. You set up a site where people pay you a monthly fee to log in and get access to answers to their questions on how to train their dog.

Online Coaching

Coaching and teaching has become very popular online. You can set up a teaching website sharing information about whatever you're knowledgeable in and charge for lessons or online classes which you do via video. There are many people who want to learn from the comfort of their own homes. Create a lesson plan, put up a website and publicize your site through free press releases, forums, blogs, social media etc.

Freelance Services

There are many ways you can generate income from an online freelance business. If you can write, you can earn money writing for other online businesses whilst you're developing your own products. If your skills are more technology based, you can do graphic design work or build websites. You can provide your skills via websites like Freelancer, Upwork and Fiverr.

When you start your own business online it can very exciting. But it can be overwhelming too. There's the worry that you might get caught up with technical issues that seem impossible to understand. You might feel that you're too old, too young or too inexperienced. Here are the 5 steps every successful online entrepreneur needs to take: http://jonallo.com/start-a-home-business-online/

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6 Different Models Of Internet Marketing

In my last three articles, I talked about my ups and downs in affiliate marketing, the two sides of that business model and why giving value to people is more important than anything else - including self-belief in your business success. Here, I am going to explain the 6 different models of internet marketing which is quite general by its definition.

1. Affiliate Marketing  -  The first model is by far the most basic and yet essential for all newbies to get started. That is by promoting other people's products and services - be it digital or physical - and get paid in return. There are many ways you can go about doing so but that is another topic I will cover for the day.

2. E-Commerce  -  The second model is e-commerce. While it may seem similar to promoting physical products as affiliate at first glance, it is not.

What this essentially means is that instead of having a physical store which can cost you tens of thousands in rent, staff and inventory costs, you can have a virtual one in the form of an e-commerce website instead.  In contrary to the traditional model, you do not need to have huge inventory at home.

You just need to have good connections of reliable suppliers who are willing to deliver the products for you to your customers while making sure they are in great condition and exactly what your customers required upon placing orders.

The only con is that building an e-commerce store is very challenging. Especially for a beginner who does not know anything about web design.

Even if you hired a freelancer, you may have to pay hundreds and even thousands of dollars because of the perceived value as in your store can earn you much more than what you invest initially in the long run though you do not get to make that money immediately.

3. Local Business Consulting  -  If you are already proficient in building websites and getting them ranked on top of Google, you can be a local business consultant to offline business owners whether they are running companies, cafes or shops.

If you are able to get customers throughout other online strategies as well, that will be even better.

However, I do not recommend this to newbies as most business owners are very selective in who to hire the same way as who they should employ in job interviews.

4. Freelancing  -  You can also do freelance work for internet marketers if you are good in building websites, writing content like articles, blog posts, e-books and short reports, designing banners, e-covers and graphics.

But do not expect to get high pay unless you are an experience programmer and software developer.

You may head down to sites like Elance, Fiverr and Guru to offer your services.

5. Mobile Apps  -  This is another profession you may consider if you like to learn and earn from designing mobile apps for people.

Given the fact that iPhones are very popular these days and people tend to surf web through those to laptops and desktops, this is another model you should consider.

6. Creating And Selling Your Own Information Products  -  I did cover this topic briefly in my article on the Two Sides Of Affiliate Marketing Coin.

What this means is you write your e-books and design your own video tutorials teaching people on how to do certain things based on your expertise and experience.

It does not have to be just internet marketing.

It can be other things like smart business investing, wise financial management, personal development and health-related topics.

Or even hobbies based on your personal passion as well as that of others.

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