Method #1: Sell Your Own Physical Products
Possibly the oldest business model of all-time is also the most familiar: Selling your own physical products. It’s a concept we’re all familiar with, and we see it play out from the corner lemonade stand to Mrs. Fields Cookies. I have something you want, so I
sell it to you. Simple and straightforward.
When selling online, however, there are a few questions to answer:
1. What am I going to sell?
2. How am I going to accept payment?
3. How will I let people know about my products?
4. How will I handle fulfillment and customer service?
Method #2: Become an Affiliate
Affiliate marketing is a great complement to any other business model. Basically, you recommend products and services to your readers, and every time one of them makes a purchase through your referral link (a piece of code inserted in your blog), you receive a commission. Commissions can range from a few percent of the purchase price, to upwards of 50%. Physical products usually have a lower commission rate, while digital downloads have higher commissions.
Method #3: Promote Online Auctions
One of the very first ways for “ordinary” people to make money online was through eBay. Whether you were selling used maternity clothes, car parts, or collectibles, eBay promised millions of eyeballs, brought directly to your goods, allowing you to sell virtually anything with a minimum of hassle.
Method #4: Sell Information Products
Information products are digital, audio and video based products, typically delivered electronically via download. Tens of thousands of people make their living online selling “virtual” products in industries as diverse as eldercare, test preparation, scrapbooking, and pet care.
Method #5: Join an Advertising Network
Back in “the day,” you couldn’t visit a website without being accosted with a number of blinkie, flashing, marching-across-the-screen pop-up ads. Yuck! Thankfully,
advertising has changed significantly since then. Now, the majority of online ads are
text-based or include photos rather than home-drawn neon images.
Method #6: Accept Paid Advertising
When considering opening space for advertising, here are some things to think about:
• How much will you charge?
• What kinds of ads will you accept? Will you take any ads, or do you want
them to be directly related to your market? If you offer reviews on your site, do you want to refuse to accept ads from sellers of products you might review? What about adult sites or online gaming? What about competitors? Know beforehand what you will accept and what you won’t.
• Will you create the graphics? If you have to create graphics, then it’s
going to take more of your time and energy. But if you don’t, you could end up with – to put it bluntly – lame graphics.
• How will you charge and accept payment? Paypal is usually sufficient.
You can even create recurring payments if someone books for more than one time period at once.
• Where will you place ads, and what size will they be? Sidebar and
leaderboard ads are common. You can google “blog ad sizes” to see what standard sizes you might offer.
Possibly the oldest business model of all-time is also the most familiar: Selling your own physical products. It’s a concept we’re all familiar with, and we see it play out from the corner lemonade stand to Mrs. Fields Cookies. I have something you want, so I
sell it to you. Simple and straightforward.
When selling online, however, there are a few questions to answer:
1. What am I going to sell?
2. How am I going to accept payment?
3. How will I let people know about my products?
4. How will I handle fulfillment and customer service?
Method #2: Become an Affiliate
Affiliate marketing is a great complement to any other business model. Basically, you recommend products and services to your readers, and every time one of them makes a purchase through your referral link (a piece of code inserted in your blog), you receive a commission. Commissions can range from a few percent of the purchase price, to upwards of 50%. Physical products usually have a lower commission rate, while digital downloads have higher commissions.
Method #3: Promote Online Auctions
One of the very first ways for “ordinary” people to make money online was through eBay. Whether you were selling used maternity clothes, car parts, or collectibles, eBay promised millions of eyeballs, brought directly to your goods, allowing you to sell virtually anything with a minimum of hassle.
Method #4: Sell Information Products
Information products are digital, audio and video based products, typically delivered electronically via download. Tens of thousands of people make their living online selling “virtual” products in industries as diverse as eldercare, test preparation, scrapbooking, and pet care.
Method #5: Join an Advertising Network
Back in “the day,” you couldn’t visit a website without being accosted with a number of blinkie, flashing, marching-across-the-screen pop-up ads. Yuck! Thankfully,
advertising has changed significantly since then. Now, the majority of online ads are
text-based or include photos rather than home-drawn neon images.
Method #6: Accept Paid Advertising
When considering opening space for advertising, here are some things to think about:
• How much will you charge?
• What kinds of ads will you accept? Will you take any ads, or do you want
them to be directly related to your market? If you offer reviews on your site, do you want to refuse to accept ads from sellers of products you might review? What about adult sites or online gaming? What about competitors? Know beforehand what you will accept and what you won’t.
• Will you create the graphics? If you have to create graphics, then it’s
going to take more of your time and energy. But if you don’t, you could end up with – to put it bluntly – lame graphics.
• How will you charge and accept payment? Paypal is usually sufficient.
You can even create recurring payments if someone books for more than one time period at once.
• Where will you place ads, and what size will they be? Sidebar and
leaderboard ads are common. You can google “blog ad sizes” to see what standard sizes you might offer.
