in

The 7 types of Internet businesses that work best

The Internet is an exceptional communication channel and a great source of opportunities.

In recent years, many successful online projects have been created: Spotify, Uber and Airbnb are best known.

From large multinationals to small companies, they have seen their opportunity in the online world.

The Internet allows you to create multiple types of businesses.

With so many options, it’s easy to get overwhelmed and get stuck. That is why I will tell you which are the types of digital businesses that work best.

This information is worth its weight in gold. Take note.

Seven types of Internet businesses that work best

There are a thousand ways to generate income on the Internet.

Some areas are outrageous as The Million Dollar Homepage, which sold 1 million pixels for $ 1 each.

Yes, 1 million dollars !! Wow !!

Display advertising raised to full power.

There are 1 in a million; yes, they earn 1 million dollars.

Now, if you want to play the lottery, go ahead. If you prefer to create a solid business online, sign up for this free training.

My recommendation is that you go for businesses that work. Of course, you will have to learn how to be a digital entrepreneur.

I will try to identify for you the great types of Internet businesses that exist.

INFOPRODUCTOSDigital products or info products are pieces of knowledge based on the author’s experience.

From an ebook to an online course, through a webinar or a membership. All of them are info products.

They are products with a meagre cost of creation and hardly require investing in them.

Another of its main advantages is that they are scalable; they can be sold as many times as you want (or get customers).

They are a great way to start a business with no money.

  1. AFFILIATE MARKETING

Affiliate marketing is about recommending a third-party product or service and receiving a commission for each sale you generate.

To do this, you have a unique link that identifies you as a prescriber.

Its great advantage is that it does not require creating a product. Plus, you don’t need a high traffic volume to generate income either.

The affiliate payment is recurring in some services, so you charge every time the client renews. This is the new case with most hosting companies.

Affiliate marketing is an excellent complement to your income, an alternative source to consider.

There are also niche pages, which are websites specialized in a specific subject that make a living by recommending related products and services.

It is possible to set up these niche pages and make a living from them, but it requires advanced knowledge of web positioning, as there is high competition.

  1. PROFESSIONAL SERVICES

There is a third way for knowledge workers.

If your thing is to develop a relationship of trust with potential clients, try to analyze their needs and, insofar as you can, respond to their problems, your thing is online services.

It applies to all professional services such as coaches, consultants, managers, technicians, web designers, etc.

It is the typical business of the self-employed taken to the Internet.

Click on the link if you want to be a freelance in Spain.

This type of Internet business consists of replicating the offline model based on trust, the contribution of value, and personalized service.

To do this, you must create an irresistible offer that transmits the transformative power of your service to your client.

And, of course, you will have to master the sale of services over the Internet.

  1. SAAS

Software as a Service or SaaS is an online application that covers the same need as a desktop program but does not require installation.

Examples of these services are Quaderno or HelpScout.

They are hyper-segmented services and the business model is generally a monthly or annual subscription.

As long as you have the resources to set up the service in the cloud, it is a bet for a real business.

Many developers embark on the adventure of setting up a Saas service without having previously validated that there is a market:

  • It is a necessity for a large enough collective
  • This group is willing to pay for it

You can build all the prototypes you want, as long as you don’t waste months or years of work on a job that has no way out. You are warned!

Create a minimum viable product.

  1. ECOMMERCE / DROPSHIPPING

Electronic commerce has not stopped growing in the last decade.

It is a business for the online sale of physical products, which you have to deliver to an end customer.

E-commerce businesses are, above all, logistics businesses where your ability to manage, store and deliver the products that your customers buy from you is vital.

In the past, it was a type of business that required a robust initial investment, both from the need to operate (buy products, store and deliver them) and create and position your online store to start selling.

Therefore, it was expensive to turn it into one of the profitable businesses.

First, you can create artisan products, significantly reducing purchasing the product.

If your business model doesn’t fit, you can also dropship.

Dropshipping consists of creating an online store with third-party products, managing collections, and sending the product to the customer.

The great advantage is that you do not have stock.

The significant disadvantage is that you depend on the manufacturer. Your products must arrive on time and be as they appear in the photos.

Whether it is to sell your products (purchased or handmade) or to drop ship, there is a solution that will significantly simplify your work: Shopify.

This platform allows you to create online stores in a very intuitive way. In addition, it is easily customizable and very complete.

To sell products, it is essential to build a brand. This will generate added value, an intangible that will create confidence in your potential buyers.

  1. ONLINE ADVERTISING

Online advertising is one of the most used and least exploited ways to earn money.

And it requires a large amount of traffic to be profitable, especially pay-per-impressions advertising.

If you get paid 1 cent for every time an ad is shown, you will need a lot of people to see it to earn a few euros.

The business is to generate many pages and place advertising blocks (contextual or banners) in a more or less intrusive way.

It is a business that works best in segmented products in the great publishing niches of a lifetime.

If you have a blog, advertising is not your business model .

  1. INFLUENCE

Being an influencer is in fashion. It is a figure that has always existed. Look at the actors, singers, or athletes that were featured in television commercials.

They hire them because they have legions of fans who trust them and will buy what they recommend.

The only difference is that, nowadays, anyone can become an influencer.

Youtubers, Instagrammers and tiktokers who upload photos and videos from their home can influence thousands and even millions of people.

Audiovisual content commands; therefore, video marketing becomes the discipline to dominate in the era of communications.

If you want to be an new influencer, create a YouTube channel and learn how to get clients on Instagram.

Brands will fight for you when you create an essential and loyal audience.

Pros and cons of digital business types

We have seen different types of Internet businesses.

Each of them has its new own pros and cons. However, we will try to extrapolate them and create some advantages and disadvantages applicable to online businesses in general.

The main advantages are:

  • Reduced investment
  • High return on investment
  • Easy to create
  • Universal
  • Scalable

Generally, the investment to create an online business can start at € 100 to hire a hosting.

The cost becomes more expensive as we need to hire a developer or designer to build a platform for your business. This is why signing up for Shopify is highly recommended.

The high return on investment depends on the success of your business. In the first year of life, each euro invested online is much more profitable than offline.

Once you have the model defined, starting it up is more accessible. You do not need a local or municipal permit.

Being on the Internet, you can sell to everyone. And also travel and become a digital nomad.

By using automation and delegating, you can scale quickly.

The most notable disadvantages are:

  • They take a while to work
  • Require technical knowledge
  • Warmth is lost in relationships

At first, the market does not know you. And neither does Google.

The first thing is to sign up for Google Search Console and run advertising campaigns on Facebook Ads.

In this way, you accelerate the pace of the business, although you also invest more money.

There are some things that you will not know how to do. Luckily, thanks to CMS, online tools and blog tutorials like this one will be fewer and fewer.

The online deal is colder than the face-to-face one. To alleviate this handicap, you must show yourself close to your audience.

How do you choose the type of business that works for you?

In these moments of unemployment and uncertainty, it is time to reinvent and start at 40. Yet, so many people ask me what business they should set up.

My answer is always the same:

  • Create a blog and start a business on a topic about which you know a lot.
  • Start a business of something that you are passionate about because you will heal many hours in it for 6 to 12 months to get it started. If you have money, invest in advertising.
  • Set up a business that helps people solve one or more specific problems in their day-to-day life. Only problem-solving companies sell well and become successful businesses.
  • If you don’t know much about anything, specialize, train yourself. If you don’t have money, then work for free for six months if you can do it.
  • If you want to position your business for the future and plan it from the beginning as an online operating base, also train in advance.

Where and to whom can you add value? This is the crucial question.

The only magic formula I know is to work smart and consistently. Then, in a few years, you will have a tremendous business, and you will be able to work from home, from the cafeteria or go around the world.

Be an ant, my friend, and start today!

If you liked it, take part in my free Knowmada Reinvention training, which thousands of people like you have already gone through, and where I will explain how to transform your talent into a successful online business.

 

The Incredible POWER of Compound Interest

How to create a campaign in Google Ads in 7 steps