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Monday, 4 March 2013

Home Business Ideas

Step by Step (Part Two) Home Business Ideas





There are so many home business opportunities and internet business ideas, that it can be a little overwhelming to figure out where you should start. We talked about a few of the different business models - from ecommerce sites that use wholesale dropshipping, to offering a service or starting your own blog.

You can make money online in a variety of ways. Just a few examples include: sell your own product, offer services, sell advertising on your website or blog, or promote other people's products and/or services.

That last option is called Affiliate Marketing. It's basically commission-based sales, and I compare it to the offline model of selling Kirby vacuum cleaners. When you make sales, you make money. You can sign up as an affiliate for a company and they will give you an Affiliate Link. You promote that link, and anyone that goes through your link to make a purchase will be tracked - resulting in a commission to you for that sale.

This is the internet business model that I focused on during our conversation over lunch yesterday. I actually use a variety of internet business models to make money online myself, but Affiliate Marketing seemed to be a perfect match for my new friends.

Some business models are active, while others are more passive. An active business model requires a more active role on your part. A membership site for example is high maintenance. If you offer services, then you need to interact with clients and take phone calls on a regular basis. I prefer passive income models, which allow you more freedom and flexibility.

That's not to say that active business models cant be incredibly profitable and successful, just that something more passive seemed like a good fit once I got to know her a bit.

To clarify, when I say passive I dont mean that you wont have to work at it. I think we've all kind of figured out by now that "get rich quick schemes" dont really work. And we were discussing real, legitimate ways to make consistent income online. Not spotty one-off ways to make a few bucks here and there.

We discussed the realistic investment of time and money, and I confessed that I put a lot of time in upfront to get each of my internet business models up and running (some more than others). I explained that you could invest money to get sales rolling in quicker, or you could invest time (up to 6-12 months even) to get your sales up to a good level on a consistent basis. You'll make money along the way of course, but geting that consistent income is the key.

Going that route, you can get started for less than $10. Yes, literally.

The passive part comes in after you have your affiliate site up and running - once you've done that groundwork. With affiliate marketing the merchant is handling orders, shipping and customer service. All you have to do is send them traffic through your affiliate link.

Once your site is up and running, you've set up your systems (such as a newsletter, blog, or whatever fits your model), and you're driving traffic to the site... most of the "work" from there can be automated, and maintained in very little time. For example, I can usually run a site like that in as little as 5 hours a week. That frees you up to create more just like it, and duplicate your income

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