I have been working from home for the past 4 years, and have tried many different types of internet based businesses.
I had more success with some than others. I also discovered that there's only a select few strategies that will provide you with decent income that you can count on for the long term.
The fact is, there are many ways to make money online, but there are only a few ways to build a BUSINESS online. Below are my 3 favorite, most successful, and newbie friendly online business strategies.
Online Business Strategy #1
Amazon Product Review Website
Amazon is a great place to start because you can find everything you want there, and as a member of their affiliate program, you can promote anything on the site.
When you promote their products as an affiliate, it means that you can sell anything from Amazon's website and earn a commission!
They have a really good program for newbies to start with. There are lots of tools to help you get Amazon products on your website. Plus, other web-based entrepreneurs have already blazed the trail for you, so there's lots of documentation, support, and more experienced people to learn from.
I think this is great for someone who wants to create a website about their hobby or personal interest. That's because you can add things that you actually buy and like, then make money from promoting the products you love.
- Tons of products to choose from
- Trusted affiliate program
- Lots of support
- Great tools for integration into your website
- Low commission rates at 4% to start
- Not available in all countries or US states
Start Your First Amazon Website Here (Includes Training)
Online Business Strategy #2
Local SEO Business
Have you ever searched for a local pet store or taproom in Google or Bing? Who hasn't? Those websites didn't get there by magic. Local businesses are competing for your eyeballs, and want their websites looking good in search results.
The trouble is, a lot of business owners have not kept up with fast changing landscape on the internet. They are still putting up billboards and playing radio commercials when there are hundreds or even thousands of potential customers looking for them on the internet.
By creating websites and ranking them in search engines, you can get paid big bucks. Even just setting up their Google+ phone number and Yelp page set up properly can help out these companies. Helping businesses make money means that you can make money.
Imagine this: A new client for a criminal defense lawyer may be worth $10,000 or more. How much commission do you think they would pay you to acquire a new client…$100.. $500… $1,000?
And this is just one example. Pet stores, hair salons, pizza parlors, coffee shops, beer bars – they're all looking for clients. By plugging into your local community you can not only help businesses make more money in your area, but you can make good income for yourself!
- Helping local community
- Easy to rank websites for most small cities
- Can be extremely lucrative if you find the right businesses
- Easy to grow business by word-of-mouth
- Tough to get the first client
- Hard to find good training and mentorship
- Dealing with clients can be stressful
- Difficult to scale
Online Business Strategy #3
Authority “Topic Based” Website
This is where I have made most of my money online, and it's the best way to build an online business in my opinion. Not only does it allow you to be creative with your business by choosing a topic you are already interested in, but it also allows you to scale your business over time to produce higher returns each year.
As an added bonus, the money you make from this type of business is often residual income, meaning that your website makes money while you sleep, or are on vacation. (Does the internet sleep? Nope!)
Why is it “topic based”. The basic idea behind this is that we want to create a website for a very specific group of people. The more specific, the better! That way we know what type of products they are interested in already, and which ones they are most likely to buy. Here are some example website topics:
- organic dog treats
- short wave radios
- coaching kids sports teams
- craft beer
- paleo diet
- power tools
- family vacations
- …and so many more!
You can see that the potential topics for websites are extremely diverse. And by focusing on just one specific group of people, we can create a resource for information that speaks directly to them. The information on our website will contain product recommendations. That's how we make money from this type of business.
We start small, with just a few pages, and over time grow our website to be bigger and bigger. As we grow the website, our profits grow along with it. Eventually, we become the main resource for information in the niche market. (that's where the ‘authority' part comes from)
Dominating a market takes time, but the good news is that the growing never stops. You can eventually tap into related markets, and even pick up new revenue streams along the way. As you grow, you can also start to think about outsourcing some of the labor so you work less, but still make the same amount of money.
With one site, you could make a full time income. Learning how to build authority websites takes time and some dedication, but the rewards you gain are worth it. As I mentioned above, this is what I do for a living, and it's my #1 recommended way for newbies to get started in online business.
- Create a business about something you love
- Unlimited profit potential
- Able to reduce work load over time
- Takes time to build authority
My Personal Advice
As I mentioned in the beginning of this article, I've been working online full time for about 4 years now. I wouldn't trade this opportunity for anything in the world. If you are thinking about starting your first online business, now is the time to do it. Consider the next year of your professional career and what you want to accomplish.
You can spend the next year doing the same thing you're doing right now, or you can try to do something different and make some big changes in your life. Starting a new business is a bit scary, but it's also very exciting. A business that is 100% online is the fastest, easiest, and least risky way break into the scene.
- No business loan necessary
- No need to hire staff
- No 14 hour days
- Can be done at any hour, on any day
- Can be done from your home, with only 1 computer
- You can start it right now with no previous experience!