Discover Which Online Business Model Is Right For YOU

Setting up an online business is becoming known as the best way to achieve success quickly. Using other models often involves more risk with longer time horizons. There are numerous advantages that an online business has over other models, and here are some of them.

I’m taking everything I know about this one subject (picking an online business model) and putting it into one easy to digest post. This is really going to help those of you with short attention spans to be able to do the things you NEED to do in your business, but don’t have the time (or attention span) to sit through big, long courses or workshops.

In this post we’re going to be talking about how to find the best online business model for you. Contrary to popular belief not every online business model is right for every person. It all depends on your skills, skills that you can develop and actually be good at, how much time you have, your interests and passions and the list goes on and on. 

My goal with this post is to show you how to do the research and pick the best online business model for YOU!

This is important because I’m seeing that when people make the decision to start an online business, sometimes they have some kind of idea for their online business.

More often than not though, the idea to start an online business comes before they even have an idea for the actual online business they want to start.

They just simply know they want an online business and that’s it. So, for those of you looking for an online business but have no idea what kind of an online business you want,

I want to help you in your search. The best way to get an idea is to look at what online business models are already out there.

Let’s get started…

The Step-By-Step Process To Picking The Perfect Online Business Model For YOU!

First, let’s define what a business model is. Dictionary.com defines a business model as: a design for the successful operation of a business, identifying revenue sources, customer base, products, and details of financing.

So, an online business model is the way you will run a certain online business. The things you will do to get it setup, how you will make money with it, how you will get people into it, etc.

The first thing you need to do is start researching. If you go to Google and search for online business models you will find a lot of options. I recommend you start there and take notes of all the online business models that you find. If you come across one that you don’t know about, then Google it specifically. Spend some time researching it so you understand it.

For example, when I did this, I found “software as a service” and had no idea what that business model was, so I Googled it and within about 15 minutes I knew exactly what it was all about.

So, spend some time on Google, do your research, and make a list of any online business models that sound interesting to you.

Hot Tip: You can also use sites like Flippa.com to find online business models. Flippa.com is a site people use to sell their online businesses, but it’s a great research resource too. You may not want to buy an online business, but you can use the site to generate ideas for an online business.

I’m going to save you some time and give you a short list of general online business models right here. Again, if you don’t know what one of these is then do some research and see if it sounds good for you.

The Short List Of General Online Business Models

Affiliate Marketing
Digital Product Creator
Physical Product Creator
Freelancer
Dropshipping
Coach/Consultant
FBA (Fulfilled By Amazon)
Service Provider
Developer
Influencer

Now those are general online business models and it’s by no means a complete list. For each of those there are several different online business models within them that you could choose. You’ll see this as you start doing some research.

For example, with affiliate marketing. You could create a content site, you could create a funnel, you could create a review site, etc. Those are all different online business models for affiliate marketing.

When you find a general online business model that you have an interest in then you need to research and find the specific online business model you want to use.

After you’ve done your research and you’ve made a big list of online business model options, take each option, and write it on a piece of paper. Make a list of things you will need to do to get that online business model setup and working for you.

Remember Google is your friend, so you may have to research the setup and running processes for each business online model on your list.

This is a vital step though so take your time and research the “how to” of every online business model you want to investigate.

For example, if I wanted to know how to create an affiliate marketing blog. I would take a piece of paper or open a word document and at the top I would note the name of the online business model. Then I would go over to Google and search for how to create an affiliate marketing blog.

I would then go through the top results and note down any steps I would need to take to actually use this online business model to make money. Then I would read over my notes and if there is missing information return to Google and search for that information.

For instance, if I didn’t find out how to get website traffic to an affiliate marketing blog then I would search for “how to get traffic to an affiliate marketing” blog.

You need to do this for every single online business model on your list! ALL of them! It might take you a few days to do this but devote a few hours a day until you have all online business models on your list for each online business model.

You basically want a step-by-step blueprint for each of them, so you know everything it will take to make that online business model work for you.

Note: I have included a an example online business “note” that I have created. Look at it and you will see what kind of information you need to be taking note of when you are taking notes for each of these online business models.

After you’ve done this exercise, I recommend that you step back, don’t think about it anymore for 24-48 hours. Let it all just marinate in your brain. Do anything except think about all of these online business models you’ve just researched.

Then after 24-48 hours, you will come back and go through all of your pages of online business models and notes and throw out any online business models that you do not want to pursue.

Really think on each one. I know you’ve put some time into researching each of these but throwing them away is a great exercise to do so that you just get it all out of your mind.

Literally delete them or throw them in the trash can. You’re going to need that “brain space” to choose the online business model you actually want to pursue!

Now, at this point you should have just a few online business model notes left. Now it’s time to make your final choice on what online business model you will pick. You can take your time and think on it, however, don’t let that keep you from making a decision.

Also keep in mind that just because you pick an online business model doesn’t mean you have to stick with it. Nothing is in stone.

Yes, you might spend some time and money on getting a certain online business model setup, but that’s all part of the learning process. You don’t have to stick with something you don’t like or want to do.

You can always pick a different one if you’re not happy with what you’re doing. The flip side to that is you also don’t want to flip flop between online business models.

If you find yourself going through a couple and you keep starting over, you’re never going to get that end result which is actually having an online business that makes you money.

What I’ve given you here is a great exercise. It will allow you to thoroughly research different online business models to help you make your decision on what online business model to start. It will give you ideas for online business models.

And more importantly you’ll end up picking ONE business model to follow. This will keep you laser focused as long as you keep in mind that if it’s not related to your online business model it doesn’t matter.

For example, if you’re going to start a blog and use affiliate marketing to make money with it. You don’t need to know anything that’s not related to that.

You can cut through the noise by being very precise in what you give your attention to when you have a fully planned online business model.

Now, Go Pick That Business Model

Okay, so I’ve given you a full proof plan for picking an online business model. It’s up to you to put the time in and actually do what I’ve told you to do here.

Yes! It will take time. Yes! It will take work. If you’re not willing to do those two things then you should save yourself and forget about having an online business.

You’ll never make it if you’re not willing to focus, put the time and research in, and be willing to fund it too.

I know that’s harsh, but you need the harsh truth because so many people are out there waiting to take your money with quick and easy solutions that either don’t work at all or wont work for you. So, do the research, pick an online business model, and stay focused only on it.

If it’s not related to YOUR online business model, then it doesn’t exist. That’s the mentality you must take to make it with your own online business.

So, just to recap here before I send you off…

1. Make a list of online business models.

2. Research each online business model from your list and note down what it will take to get that online business up and running and making you money.

3. Through the process of elimination pick ONE of the online business models to start with.

4. Keep in mind that nothing is in stone and you can change your mind as to what online business model you will use, but don’t “business model hop”.

5. Be mentally prepared. Having your own online business takes research, time, learning, and some money! Don’t get suckered, and stay focused.

Okay, you now have your marching orders. I recommend that you now open up the workbook that came with this post and use it to start your research exactly how I have instructed you in this post. The ball is now in your court!

I wish you much success on your journey!