Leased Ad Space
The business model you choose for your online business is important.
It will determine two things:
- How profitable your business will be; and,
- Whether it will allow you to live the lifestyle you want.
There are three main types of online business models:
- Affiliate Marketing
- Creating Your Own Digital Products
- Licensing Model
Affiliate Marketing Model
The basics of this model is taking products that other people or companies have created and promoting them. You can find these products in places like: ClickBank, JVZoo, Amazon, etc.
When customers buy those products, you get paid a percentage of the sale as commission.
It's a great way to get started online because all of the sales pages, product fulfilment, payments processing, customer support, etc. is done for you. So you don't have to worry about all the costs and headaches involved in creating your own products.
However, the downside to this model is that you lose ownership of the paying customers when they choose to buy. Yes, you get paid on the front end. But the product owners will begin to promote other products to them, and when they buy, you don't paid any commissions.
Creating Your Own Digital Products Model
This is by far the most profitable business model because you get to pocket all of the revenue from the sales you make. You are also in complete control of the products so can make changes as you go.
However, it can cost you multiplied thousands of dollars to create your own products. And when you are starting out, you won't have the credibility and branding to complete with the companies that do.
The Licensing Model
This is the model of choice when it comes to online business and is similar to owning a franchise. You have the advantages of affiliate marketing model and creating your own products combined.
In this model, you license the rights to sell a companies products that are proven to sell. Everything is done for you just like the affiliate marketing model, however, you retain ownership of the customer when they buy one of the products you promote.
This is powerful! Because as the company begins to promote other products to them on the backend, you will still get paid a commission, even if that customer chooses to purchase another products six months later.
Learn More About The Licensing Model
There is a lot more to say on this topic and if you'd like to know more, click here to learn about the licensing model system I use.
It will give you a step by step guide through each model.
About Jed George
Welcome! I'm a family man living in Melbourne, Australia with my beautiful wife, and four children. I love God, my family and my friends. I enjoy music, travelling, and sports. I've been building my online business for a while now. I got started because I wanted to spend more time with my family instead of my day job. Something had to change! So I began to look for ways to make money online. Once I discovered a system that worked for me, I was hooked! Having an online business is awesome because it's not only fun, but also allows you to build what I call the ultimate lifestyle - time, money and location freedom. The freedom to do what you want, where you want, and with whom you want, while the money keeps flowing in. I enjoy working one on one with people, teaching them how to make things work, and seeing them succeed. If you are looking for a way to make money online, or if you are currently struggling to make things work, reach out to me to get some help. I am willing to work with anyone who is ready to take action and determined to succeed in creating their own ultimate lifestyle.
