As at today, there is statistical evidence that 95% of people who do business online are not making money. Of the 5% making money, only 1% is making good money. Yet, many more people are going online daily with the intention to make money. If you run a small business, taking it online is usually a great adventure and a lot of fun. What most small business owners think about when they take their small business online is the sales business model because it is fairly straight forward and easy to adopt. You simply become an online merchant by advertizing your goods/services on your Website with a view to making sales. This appears to be what everybody does but there are other viable strategies smart online small business owners also use to generate income. If you really want to make money online, whatsoever you are currently doing online must tally with at least one of these seven ways to generate income.
02. Sell your own services.
03. Drop ship products.
04. Recommend affiliate products.
05. Sell ad space.
06. Create a joint venture with like-minded businesses.
07. Start an affiliate program.
By the time you master your online business very well, it is possible to combine two or more of these ways to increase your income and profits online. Some of these business models are most effective when you combine their revenues to maximize profits. For example, if you wanted to work with your sales model site to diversify your profit streams, you could sell your own product, while also recommending affiliate or joint venture products that would appeal to your audience and complement your offer. You could investigate drop-shipping options to even further diversify your product line. When your Website is up and running, a bit of creative thinking and experimentation on your part will reveal to you what works and what doesn’t. That is when you have to think of diversification. Diversification gives you all kinds of options when it comes to back-end and follow-up offers. And remember, if you have great offers, the customers who have bought from you once are likely to buy from you again. Repeat orders are highly indispensable to your profit margins by the time you command a respectable presence as an online marketer.