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Even if you don’t have a blog as a full-time source of income, it is still a good idea to have a business blog post. It is useful for generating discussion and for some extra links. Keep in mind that you will also need to promote your blog. The “build it and they will come” approach does not work with blogging. You can be writing the best material but if it is not promoted, nobody will know about it.
Business Model #2 – YouTube
Youtube is a great way to reach an audience. Most of the newer generations prefer video as compared to written content. While this applies to the wider population, it especially applies to millennials and those of Generation Z (people typically born between 1995 – 2005). With the proliferation of video games consoles and other kinds of devices, YouTube and other video platforms are increasing in prominence. They are usually easily integrated into such devices.
Video content also results in increased sales in comparison to written content, which is another great reason to use the platform. A video is far more effective than a blog post and is much easier to digest for a modern audience. Consider that time is the most valuable commodity, and a video can get your message across far quicker. People may not even bother with a long blog post.
YouTube can be an exclusive business model or something that you do on the side to promote your business. If YouTube is to be used exclusively, then it can be similar to blogging. Identify yourself as a subject matter expert by releasing videos and you will gain subscribers over time. You can them monetize your videos. The difference is that while blogging might take a while, with YouTube you can build up a following very quickly. Additionally, YouTube channels will most often contain a link to the business page. This will result in increased site visits and help with SEO.
YouTube is now home to influencer marketers who have tens of thousands of followers. They are paid well by companies to market to their followers and it is now an industry in itself. If you happen to be knowledgable about a particular industry and are also good with videos, then YouTube marketing could be incredibly profitable right now. It’s free, quick to upload, has a huge audience, and people love video more than other kinds of content.
As there are over 1.5 billion active users on YouTube, the audience is massive. While over 90% of businesses now have their own Facebook pages, less than 10% have their own Youtube channel. This means that companies who engage in YouTube marketing may have a competitive advantage as it is an underutilized tool.
Business Model #3 – Physical Products and Amazon FBA
While Amazon FBA is often marketed inaccurately as a get rich quick scheme, it can be very lucrative if it is used correctly. Amazon FBA (“Fulfilled by Amazon”) is simply the sale of products using Amazon’s world-class delivery system. Here is how it works –
1. Ship your products to Amazon.
2. List your products on Amazon.
3. Customer places an order through Amazon.
4. Amazon handles delivery, storage, and even customer support.
Amazon does take a sizable chunk of your earnings. Moreover, it can be difficult to establish your brand when it is listed on Amazon. However, they are handling the delivery, product listing, storage, and customer support. It is still a remarkably effective business model that can take a lot of stress out of the entire process. Another way to sell physical products is to use dropshipping. This is where you process the orders on your website but the distributor is responsible for the delivery of the product. The main advantage of this is that you don’t have to keep stock of any inventory, you just promote and sell the product, acting as a middle man.
Additionally, the distributor delivers the product with your brand and logo on it, so you can establish a reputation. You only pay for the product when a customer has placed an order on the site. The difficulty of this model is that the profit margin is very low and managing customer control can be very difficult, as you do not have control over this process. This is a good option for those who do not have extensive funds and who have a long time to grow their business.
Another avenue to sell physical products online is to use a third-party logistics company (3PL). In this case, you will typically ship your products to the 3PL company who takes care of delivery and (sometimes) customer support. The customer places the order on your website. Profit margins through this method are far higher than with typical drop shipping. The main disadvantage is that you have to purchase the goods upfront.
Business Model #4 – An Online Course
If you happen to be a subject matter expert in some area, then you could also consider creating your own course and selling it on an online educational site such as Udemy. It is possible to earn significant figures using this method, but it will also require significant marketing and promotion on your part. Typically, course creators will have some authority before they launch their course, and they can then market to it from established sources.Other Details
- 10 Articles (TXT, DOC)
- 1 Ebook (PDF, DOC), 11 Pages
- 1 Audio (MP3)
- 4 Graphics (PNG)
- 1 Salespage (HTML)
- Year Released/Circulated: 2020
- File Size: 9,948 KB
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