There have been series of new opportunities made available by internet. The internet has made it possible for everyone to make money, and over time, more and more ways are rising from the online world; Ways that have previously been impossible or very difficult to monetize. By reading this book as one of the books in the series of "Smart Business" " you will learn four main methods of online money-making that allow you to grow as a small or medium-sized business and maintain and develop your market.
Excerpt:
General Models of Online Money Making
The first model is the affiliate method. This is a method you can use to get customers and make money by being a sales agent and referrer for others’ products without any capital or any need to launch a website.
The second model is when you are a mediator between customers and suppliers of products or services. It means you are the broker between the wholesaler and the retailer. This method is sales without inventory or stock (drop shipping method). It can be used to money online with no/low capital.
The third model is the virtual vendor method in which you are the retailer. This method enables you to buy from the wholesaler and sell to the customer.
The fourth model is to use Internet to introduce and offer your services with no/ low budget. The difference between this method and other ones lies in the type of products you sell. In this method, you sell services, not goods.
Whatever that can be done to make money online is based on these methods.
Selecting any of these methods depends on resources, geographical location and the degree of your compatibility with them.
For example, if it’s not possible for you to have access and communicate with suppliers, then you can’t choose the second method of making money. In addition, if you don’t have any craft or service to offer, you should count the fourth model out because it’s not suitable for you at all. So, don’t start a business just because others have launched the same business and succeeded at it. Research, evaluate your conditions and resources, and then select your model of making money online.
I have made this example in numerous occasions: you can never turn into people like Bill Gates, whose quotes are frequently repeated. They were in another time in another place and in their geographical location. Furthermore, useful resources were at disposal that don’t exist in most places around the world and about which we have no idea. It’s okay to learn a lesson from the efforts and successful actions of these thriving individuals and imitate them. However, if you wait your entire life to find a perfect opportunity and strike it rich the way some of these famous people did, then you have chosen a wrong path that will impede your success.