How To Do Business Profitably Online. Part 3

Two days ago we started our discussion on why you should learn how to make money online by doing business online. Today we continue the discussion.

If you missed the first two posts, get the first one here, and get the second one here.

As I mentioned in my first mail, the type of businesses you can do online are limited only by your imagination.

However, despite the vast array of businesses, you can classify them into four major models or categories as follows:

1. E-Commerce e.g. Amazon, Alibaba, Jumia
2. Market Places e.g. eBay, Konga, JiJi
3. Software As a Service (SaaS) e.g. Facebook, WhatsApp, WeChat
4. Pure Service e.g. Blogging, E-Learning, E-Dating

Arising from these four online business models, you can select strategies to adopt to make money. There are six major strategies as follows:

1. Sale of Physical Products online
2. Affiliate Marketing
3. Drop Shipping
4. Sale of Info-products
5. Sale of Pure Service
6. Advertisement

Although there are myriad of ways of making money online, they fall into the above four major models and six strategy categories.

Here are some of the methods you can make money online.

1. Product sales
2. Coaching
3. Online Courses
4. Podcasting
5. Google Adsense
6. Lead Sales
7. Freelance Writing
8. Sponsored Posts
9. Webinars
10. Building an Online Community

As simple as these methods appear to be, very few understand the intricacies of converting knowledge to cash online.

Unlike offline business where you are dealing face-to-face with a human being, online you are dealing first with machines, before humans.

Understanding the machine interface and the whole online business ecosystem is not easy and that’s the reason very few people make money online.

How do you even generate trust noting you’re dealing with strangers who don’t know you and sometimes living in other countries thousands of miles away in this era of internet fraud and Yahoo! Yahoo! boys?

In the next episode, tomorrow, we look at the things you can and should do to start making money online – well by building your online business.

PS: You know how Amazon has made it easy these days for experts, trainers, coaches, consultants, writers, and speakers to write, publish, and launch their books, but most don’t know how to actually do it? Well, ask me about my online courses about how to write, publish, and launch a book in 90 days or less without having to know anything about writing or spend tons of money.

PSS: You know how experts these days have the opportunity to reach thousands of people online with their expertise, but most don’t know how to actually do it profitably? Well, ask me about my courses for trainers, consultants, and coaches about how to create leverage, freedom, and impact in their businesses and lives by building and selling online courses.