Getting to Grips with Online Business
Published on September 20, 2018
Published on Wealthy Affiliate — a platform for building real online businesses with modern training and AI.
Online Business Models:
In my latest blog post “Getting to Grips with Online Business” - you can read it across on my Wealthy Sage's website - I discuss a range of ways of making money online and evaluate the pros and cons of 4 of the most popular business models in common use. I believe the findings are important and am therefore pleased to share the key points with you.
Evaluation of Top 4x Online Business Models
Finding in Favour of Affiliate Marketing
The results of the appraisal carried out are presented on the Diagram above. It shows that the most favourable entry point for aspiring entrepreneurs with little or no experience in online business is in Quandrant I, Affiliate Marketing. I've shaded Quadrant I green as this is the easiest way to get started in online business; all other options tend to be considerably more expensive or require a level of expertise by the marketer before entry.
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Scaling your Business Online
Once experience is gained, it's been observed that most successful affiliate marketers scale their business in the direction of one or more of the other sectors; for instance to provide training services within the Consultancy sector, Quadrant II, or sell products or services in the eCommerce sector, Quadrant III. I've shaded these yellow in the Diagram because some level of experience or expertise is recommended before entry.
Beware Network Marketing Schemes
Finally, be aware that some sectors of Network Marketing, particularly the High Ticket Affiliate Marketing sector in Quadrant IV ought to be avoided by novices. It's a matter of public record that 97% of businesses in this sector fail. Whilst the potential for earnings is high, only 3% of the marketers make any money. I've therefore shaded Quadrant IV red in the Diagram.
Your comments on the conclusions reached in the blog post are welcome, both here and on my website, where you can read much more on the topic. You can find the link to my website on the bottom right of my profile page.
Best wishes,
Will
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