So what is a good internet business to start? There’s so many strategies for online business, which one is going to be the best for you? According to the time and money you have available, you can pick from any number of marketing strategies for an online business. But it’s best to choose products which pay the largest commissions whatever you do.
These are digital products mostly which pay out 40-50% commissions on a sale. If you choose physical products to promote online, you’ll only get somewhere between 3% and 11% commissions. This means you can create a larger income from the same amount of effort if you choose wisely which steps to take.
What Is A Good Internet Business To Start? – Affiliate Marketing
Affiliate marketing is one of the most popular internet business models; and for good reason. With affiliate marketing you can earn large commissions on products you don’t even earn. You don’t have to service customers or even touch a product and . you can automate sales and scale up to a global audience.
However, people still get affiliate marketing wrong. There’s many rabbit holes you can go down and some strategies work better than others. Even if you choose a good product range, you can get your marketing wrong. You can get lost in the details for months or years and never find a way out. So it’s important to get a good foundation for an online business before you rush in.
Rushing in is likely to result in difficulties. But if you get a good understanding of what you’re doing and why you’re doing it, you’ll make faster progress later on.
What Is A Good Internet Business To Start? – The Right Products
When I started affiliate marketing I was desperate! I rushed in and made lots of mistakes. See 23 affiliate marketing mistakes newbie affiliates should avoid. Having the right products is a major factor in whether you’ll make your affiliate marketing business profitable. As I’ve mentioned already, using digital products can massively help. You’ll earn 40-50% commissions instead of 3-11% (for physical products). But you should also choose products which pay you recurring income. Recurring income affiliate programs pay affiliates over and over again for each sale. This means that with just a handful of sales and you’ve already got an income, not just one or two commissions.
This means you can build a more sustainable business more quickly too.
It’s also important to know what kind of marketing strategy you might be considering. Free marketing takes time and is very slow. If you don’t have much time, but have a steady income, you’ll probably want to use paid marketing. Paid marketing is much faster and more scalable than the free strategies. On the other hand if you’re time rich but money poor, you’ll probably want to focus on free marketing strategies.
The Sales Funnel
A sales funnel is what you’ll create when you start an online business. It’s basically consists of a landing page (website) and an email marketing campaign which automates your collection of subscribers and customers and the delivery of information and products.
With the right products in your funnel, including digital subscription products, you can build a sustainable business more quickly. If you also have a range of high ticket digital products, you can also access some of the more expensive marketing platforms to use as your marketing “engine”.
With a funnel like the one pictured above, you have much more opportunity to scale your business and automate the process. With low value products in your funnel, you’ll find it very difficult to use paid marketing and still come out with a profit.
Why Is Marketing So Important?
With an internet business you can choose digital products to sell which can be sold anywhere globally. This gives you a massive opportunity to build a scalable business from anywhere which completely replaces your income. However, many affiliates struggle because they don’t get the help they need with their marketing. Without marketing, an affiliate business won’t survive. Affiliates are marketers! Without the marketing part their business is effectively dead in the water.
Anyone can learn how to become an effective marketer (see free training videos), even with no prior experience. But many affiliates struggle at this point because they underestimate the need to bring new customers to their business, or they overestimate the ease with which this can happen.
When I first built a website, I thought everyone would come and visit it! But this was a big hole in my understanding. A website without marketing is like a gas/petrol station in the desert. No one will ever see it unless it is promoted. Finding the right customers for your products is just as important as making your website or landing page visible too. See why is target market important.
Why Is Your Mindset An Important Part Of Success With An Internet Business?
Your mindset is another important aspect of building a successful internet business. An internet business isn’t the same as a job. You don’t get paid unless you make it work! Affiliate marketing offers performance related pay which means unless you make sales, you don’t make any money. So your mindset must be focused in a way so that you get a lot of productive activities done when you are working.
It’s easy to be a “busy fool” when working from home. You can browse the internet, have friends over and chat with friends on social media. But none of that will move your business forwards.
Have A Vision For Your Business
Having a vision for where your business will take you helps too. If you only focus on what’s right in front of you, without any goals or vision, you can easily accept the status quo and get used to the way things already are. An internet business needs a driving force behind it to get it moving and profitable. Entrepreneurial thinking is different from employee thinking. Employees think about how to do the least work (or some of them at least!), and slack off! Entrepreneurs think about how to offer more and more value.
Only something like 3% of business owners actually succeed with an online business out of the many who try. See why affiliate marketing does not work.
So what is a good internet business to start? Ideally join a community of online business owners who can offer you help and advice on your journey into the entrepreneur life.
Access an online business community by signing up on this website to the video series. You’ll be able to access an all in one digital business platform which offers a range of digital products plus all the training and help you need to succeed online.
See also best lifestyle businesses for more information.