There are a million ways to make money from the internet, from ecommerce stores and dropshipping to blogging and affiliate marketing… but what works and what doesn’t work?
Which one has the potential to create a full time income online and which ones are just for “hobby incomes”?
When you’re starting out in the online industry, it’s easy to get overwhelmed with all the opportunities out there but it’s so important to make sure you pick the right business model from the get-go.
If you don’t and 12 months down the track you find that it doesn’t suit you and your goals, you’ll be throwing a lot of time, money and energy down the drain!
We’ve been down this road before – and it’s no fun at all!
But after years of facing “scams” and other businesses that just weren’t bringing in results, trials and tribulations, we’ve found that there are 3 online business models proven to work.
Pick any of these, commit to mastering it, and you’ll definitely hit the 6-7 figures online.
1. Value Leveraging
This is the method that most online business owners begin with and is pefect for anyone who doesn’t want to create a lot of content online nor have a lot of liability. It allows you to provide value to the marketplace, solve problems and get paid simply by leveraging the work of others!
Sounds pretty cool right?
These models include: podcasts, review websites , network marketing companies and affiliate marketing.
2. Product Splintering
Although this takes the most effort and time, when done right it provides long term stability.
Product splintering involves your commitment to mastery and willingness to create lots of content and products continuously. This involves having low ticket continuity offers, which is where people pay a monthly membership to access your content, as well as several low to mid range information products available for purchase.
This model is very similar to Costco, gyms and paid mobile apps where a customer base and community are created.
3. High Ticket Funnelling
This is a tough but extremely rewarding business model which involves selling products from $2k to $50k. The key to success using high ticket funneling is being able to drive lots of traffic and generating lots of leads.
A benefit of this model is that if your product has a price tag of $5k, you can spend up to $5k in advertising just to make one sale and profit… Compare this to value leveraging where the commission price points are lower and you’ll need more volume just to break even.
Most top tier direct sales companies and high level coaches implement this model like Tony Robbins and his “Date With Destiny”.
And don’t think that it’s harder to sell a high-end product than it is a low-end one. It really depends on what is best for YOU. Would you rather sell 500 copies of $5 ebooks to make a $2,500 commission or sell 1 program for $2,500?
If you’ve been scratching your head wondering what’s the perfect model to start with for your lifestyle business, hopefully these 3 ways shed light on where to begin. Deciding which one is for you first begins with getting clear on what what lifestyle you’re after and what strengths can you play to.
Do you want to generate big bucks in a short amount of time? Then perhaps high ticket funneling is for you.
Do you want to create residual income that makes money while you sleep? Then start a membership site using the product splintering method.
Does your passion lie in dogs? Start a dog product review site!
Unfortunately, there simply isn’t enough room in a single blog post to discuss each of these at length. However, if you would like further assistance in starting your online business, don’t hestitate to get into contact with us here.