7 of the Strongest Online Business Models to Ensure Success
The choice of online business model can have a huge impact on future success. Especially when we are speaking about the community we are in and all the technology that we have access to. So, be careful when starting out that you select a model that matches your lifestyle. Most of us in the MilSpo Community are nomadic entrepreneurs- meaning we move and or travel often.. to often to really establish roots in any one place. So for that purpose- I will be speaking on business models that are the easiest to scale and move around with your mobile life. The following are 7 of the best online business models you can make use of to secure financial freedom.
#1 – Blogging
Blogging is still one of the best ways to make money online. Blogging takes consistency to work, and the results can take a while to materialize. But blogging is still essential. Even if it is not going to be used as the primary form of income, having a blog is a good way to promote your other business or to bolster your reputation. Once a blog generates enough traffic, it can be monetized using affiliate links or paid advertising.
If you are completely new to blogging I HIGHLY recommend setting up your blog through Wealthy Affiliate! They have a free version you can start your blog with and when you become confident that this is something you can do- their premium version is so easy to transition to. Not to mention you literally have EVERYTHING you need in one platform- which makes it very newbie proof. Create Your Account Now.
#2 – YouTube
In many ways, videos are taking over from written content. Many people don't have the time to read or traditionally learn. Customers like videos more than written content and video content has the potential to go viral. Creatives like to go to video for tutorials on how to for their crafting. YouTube is the biggest video streaming platform (and now considered a search engine) and it is easier to create a video than is commonly believed. You can use YouTube to build up a following and then market to them. This method is far quicker than blogging in most instances.
Pro Tip: If you put your content on video, then rip the audio, and then transcribe the audio- you now have content for not only YouTube, but a Podcast, and a Blog with the same amount of effort.
#3 – Physical Products and Amazon FBA
It is also possible to sell physical products online with the help of other services. With the Fulfilled by Amazon (FBA) service, you simply ship your goods to Amazon. The sale and processing occur through the Amazon platform, as does delivery of the product itself. Amazon even takes care of the customer service. In other words, Amazon does a lot to complete the business. However, they do take a large share. Other methods of selling physical products online include drop shipping and third-party logistics companies.
Be warned: Amazon is a beautiful business model when you know how to play their game but it is high risk – high reward until you get over the learning curb in regard to other sellers, metrics, and visibility. I personally use Amazon as more of a passive income role than my full time income.
If you want to do this full time I suggest investing in a full course or paying for a results based mentor to walk you through your first 6 months.
#4 – Create an Online Course
If you are an expert on a particular topic, then you should consider creating your own online course. This is not as difficult as it sounds, but you will still be responsible for marketing and promoting your course. Udemy is one of the most well-known online course platforms followed by Skillshare and Teachable. With the increase in the price of third level education, more people than ever are turning to online courses for instruction. It's a fast and effective way to gain trade skill knowledge at a more affordable rate. With other learning platforms emerging and specializing in other industries- course creation is a great addition to anyone's business portfolio.
I wrote an entire article on Course Creation & how to Make Money w/ Video Tutorial Here.
#5 – Freelancing
Freelancing is a great way to earn money on the side. You can work from anywhere and leverage your existing skills for compensation. You can also use freelancers to enhance your business and quality of life. Virtual assistants are available and can complete menial tasks such as data entry or email management for as little as $5 per hour. Freelancing can get as sophisticated as SEO optimizing and traffic generating- there is so much you can do with freelancers that would normally cost company's thousands to hire full time employees to do.
#6 – ClickFunnels
I have to pre-empt this section by saying that I am a HUGE self proclaimed funnel geek. I love nerding out on the techy side of funnel building and finding designs that are pleasing to the eye, not scammy looking, and still effective in making me sales!
Clickfunnels is a platformed that can be used in any business really. Mostly it was designed to customize and auto deliver the sales experience to a target audience. See, when someone visits a site- they typically get lost in navigation and get distracted before they even make a decision.
A funnel pre qualifies the customer and breaks down the recommend product and sales process through the delivery of product and up sells one page at a time. Your audience enters the funnel with a solution in mind and your clickfunnel (when built out effectively) will automatically deliver the process 24/7. Its like having a sales team operating for you at all hours.
Long story short- you can use this platform to monetize in multiple ways: become a funnel builder for other businesses, make your own funnels to promote product or courses, make your own automated webinar to market for you while sleep, even broadcast to existing email lists (customers).
#7 – Network Marketing
I know what some of you might be thinking- network marketing is NOT PCS Proof- but it can be! See, the MLM industry is for some reason stuck in the 90's and no one has really taught their down line the proper way to bring their MLM company online to expand their network.
In fact, the reason I am such a huge clickfunnel geek is because of network marketing. As a business coach-I was trying to find a way to help my fellow MLM friends out with their business. After a few days of research, I came across Stephen Larsen (the funnel building guru to Russell Brunson) and his methods on how to automate your MLM.
I jumped the gun and put his system to the test. I went as far as joining Stephen's MLM to be a part of his down line and to see exactly what he was doing for his team and what his team was trained to do for themselves. And- Let me tell you- I was amazed at the value he was throwing at me and the rest of his down line. To see his presentation go to Join My Downline page of this site . I put together some exclusive MilSpo bonuses for you guys on top of everything Steve is handing out.
MLM automation was a complete light bulb moment in my entrepreunurial journey. MLM is the perfect hybrid of ecommerce and affiliate marketing with this system. I don't know why no one brought this to light 10 years ago!
P.S. I’d be curious to hear of any other business ideas you have tried. What are the Pros and Cons?
P.P.S. Let me know what topics you’d like us to research and write about in the comments section!