Online Business Model Overview
Abstract:There are countless ways to work from home and generate an income from the Internet. Some are easier and quicker to get results, but all take time to learn, practice and perfect before serious results start coming in. Thereís no magic product or system thatíll make you rich instantly over night, so donít spend too much time looking around for one. If youíre a Beginner in the Internet Marketing arena, start with a program that requires minimum technical experience. Youíll have less headaches, especially if your not computer savvy. Letís take a look at some business models that can get you started right away.
Practical information on several business models for new internet entrepreneurs who need to start generating online income as quickly as possible with little investment capital.
1. Affiliate Marketing
With Affiliate marketing, you can be quickly promoting just about any product within 15 to 30 minutes. Basically you get paid commission on sales that you generate from your own efforts (much like any commission sales rep job although it's far more lucrative online). This is great for a fast start but you're on commission and you're only getting a percentage of the profit while you're doing all of the hard work.
2. Create Your Own Product
You can create your very own product from scratch whether it is your very own e-book or software. On average it takes around 3-4 months to create a software product. An e-book varies but to do it properly and depending on the length, it usually takes at least 2-4 weeks.
This is your own e-book or software but again it needs to completely be done before you can even launch your online business. Youíll also need to set aside a budget for a professional to design your website, especially if you donít have a lot of experience.
3. Private Label Rights (PLR) & Master Resale Rights (MRR)
You acquire resell rights for products already created by someone else. You then market the product as your own (depending on the rights you are given to the product) and keep 100% of all profits. This can be where some real money is made. If you acquire resell rights and the product, then you're no longer working on commission. You get to keep 100% of the profits.
There's no better profit margin than with resell rights especially if you are starting with an online home business. Youíll be earning 100% for your efforts. PLR/MRR usually includes a sales page already created; avoiding the hiring of a web designer or a copy writer to write the sales letter. Itíll look professional and youíll have the site quickly up to promote as your own product. This would be the ideal business model for a beginner to generate an income as a home based business. Upload the product to the internet and instantly you have your online business running.
If PLR/MRR interests you as a source of income for your work from home business, here are some things you want to be aware of when getting started:
- Donít purchase a product with PLR if the product is outdated (more than 2 yrs is the guideline)
- Choose quality products that have limited competition
- Review the sales letter, make sure it is persuasive and it has quality testimonials or endorsements
- Ensure the original product author equips you with a Reseller Materials pack (includes sales letter, images, thank you page etc)
- Review the Terms and Conditions (e.g. be aware of min/max price for the product, if it can be given away free)
- Conduct a quick background check on the original product authorís credibility
Download my FREE e-book at http://www.Income4-Beginners.com and get the information you need to start a profitable online home business quickly.
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|» About the Author|
Name: Donaven James