What Every Busy Entrepreneur Needs to Know About Choosing the Right Online Business Model

What Every Busy Entrepreneur Needs to Know About Choosing the Right Online Business Model

What does choosing the right online business model have to do with content?

A whole lot! If you don’t know what you’re selling, you can’t effectively communicate the benefits of working with you to your target audience.

And since the whole point of creating content is to provide potential customers with the information they need to make a buying decision, you’ll struggle to make money.

Once you have identified your income goals, you need to determine the online business model(s) that will get you to that number without compromising your lifestyle values.

Don’t Drive With a Blind-Fold

Not being clear or on your online business model is trying to drive down the street blind-folded. Sure, you’re going somewhere but, I guarantee you you’re not gonna get very far before you crash.

If you really want to succeed in your online business and make it a full time income, you need to first identify the primary business model you want to follow.

The problem?

There are hundreds out there, and you may already have one in mind or have one you have committed to.

If you are a speaker, author, coach or consultant, and you have one in mind,or if you have decided you need to switch your focus, here are 5  of my favorite online business models.

#1 The Info Product Model

You’ve probably learned by now that  creating and selling your own digital info products can make you a fortune.

These might include:

  • Writing e-books and guides
  • Creating software
  • Designing infographics
  • Shooting educational videos
  • Delivering e-courses
  • Writing private label rights products to sell

…creating your own affiliate program.

The thing to consider with this particular model is understanding what type of content strategy you will need to sell x number of info products each month to meet your income goals.

#2 The Service Model

Providing services online offers great income possibilities. If you are hands on, you can write articles and ebooks, design graphics, sell your programming skills, or charge for virtual assistant services.

If you have a great deal of experience in one area, you can also sell coaching or consulting services. But, this can also get tricky.  The reason is, the 1-to-1 service model requires your  time. And if you don’t structure it just right, you can get burned out really easy.  A great way to leverage your time and make more serving less people is by using the VIP Day model.

#3 The VIP Day Model

A VIP Day consists of a set number of hour spent working one on one (or with a group) to achieve a specific goal. Because of  it’s intense and intimate nature, VIP days can net you anywhere from $997 to $10,000 +, depending on what you are offering. If you choose this model, you can see how it can free up your time and help you better target your earning goals. You only need a few to meet your monthly earning goals.

 

#4 The Membership Model

With the membership site model, customers sign up for a recurring payment in exchange for regularly provided content.

Membership sites can be ongoing or a set for a predetermined length of time.  Many people also use membership sites to deliver their information products. You can also use membership sites to deliver your newsletters or done-f0r-you content like PLR, templates, checklists and more every month.

And, if you are a coach or consultant, you could even offer your own coaching services via a membership site.

It’s a very lifestyle friendly model in that you can serve more people at once and have security of earning a regular income each month.

#5 The BootCamp Model

Boot camps can be taught via teleseminar, webinar, live event or in some combination of recorded and live Q&A sessions. The one-to-many feature of the  boot camp model allows you to serve more people at a higher price point at once.  This means you don’t  have to do as many per year to hit your lifestyle and income targets.

The web's next top business model

Eeny Meeny Miny Moe

With so many internet business models to choose from, it’s a hard to pick just one to start with. In fact, you can combine and chop up many of the above models and create your own. But for now, let’s keep it simple.

Here are some tips to help you  decide or focus:

  • What’s the easiest to implement? Be realistic about your time. What appeals to you right away? What stands out?
  • Do  you already have the skills to execute or  will need to learn them?
  • Is there anyone you can outsource to if you don’t have the skills yourself?
  • How much will it cost to implement this business model? Do you have the funds?

Once you’ve answered these questions, just pick a model and run with it. And don’t just bail on it after a few days, weeks or months. You have to commit, test and tweak until you get the results you want.

Don’t believe the hype. There are no marketing magic tricks. You have to do what it takes to make your business work for you.

While you may need to do some more research to get a good grasp of the details and understand what’s involved in each model, you need to make a decision sooner rather than later. You’ll never make any money online if you don’t just dive in and get moving. So pick an online business model that appeals to you, put the blinders on and move ahead.

I know I missed some, but what are your favorite business models, what are some you are considering and which ones do you think suck? I’d love to hear your thoughts.

 

Feedback is the breakfast of champions.” – Ken Blanchard

And as a champion of your success, I’d be honored if you let me know what you thought about this article. Your tips, advice and comments are greatly appreciated!!!!!!!!!!!

 

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Kenya Halliburton, a.k.a Kenya 4G, a.k.a. The Busy Entrepreneur's BFF, is a Content Marketing Strategist helping busy entrepreneurs who hate or don't have time to write, create content to that wins clients and cash. If you're ready to create a knowable, loveable & buy-able brand... She's been warned but, like a true rebel she ignores them. She likes to giveaway free stuff so, go sign up for whatever cool freebie she's offering now @ http://MyContentPlanner.com

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