The best work from home businesses fall into 3 main categories. First, they can support an existing brick and mortar establishment (offline venture). Next, it may involve selling physical goods and lastly, there is the opportunity to promote services and information. Let’s examine all three in more detail to see which model is most suitable for you.
Why Are Websites Smart For Business?
These days having a website is almost a must for companies to survive. The best work from home businesses all incorporate a site into their model. However, it can’t be cheap, amateurish or hastily put together. It needs to look professional and well-designed to establish credibility with your customers.
We have advanced to the stage whereby many businesses conduct 100 % of their transactions over the internet. I am sure many of you are aware of Amazon or eBay. Well, they are two of the biggest e-commerce retailers and there exist hundreds of thousands of smaller operations not to forget larger corporations like Nike or Apple.
The internet is like the world’s largest catalog (I’m not sure if the younger generations know of these). In the 50s, 60s and 70s large department stores would publish thick magazines called catalogs. Families would browse the items and visit stores to make a purchase. Today, we use iPods, smartphones or computers from the comfort of our home.
Basically, you are losing money without a website presence. It has become such a necessary marketing channel to reach consumers that many retail establishments who do not adapt are being forced into bankruptcy. Recently, the Sears and Target Department stores closed in Canada and this was one of the reasons why.
Moving Online Means Money In the Bank
Let’s imagine your favorite pastime is making candles and you would like to move it to the next level. The traditional approach would be to set up a store. The cost of leasing, stock management, electronic point of sale systems and of course employing staff members would be a huge investment.
Additionally, it would be difficult to compete with the big players like Walmart who have a finely turned electronic and physical marketing system in place. Compare this to setting up an online retail shop.
1. Websites are created by yourself or a professional.
2. Products are easily displayed and large operations can outsource.
3. Payment processing can be purchased or rented.
4. Storage can be arranged through a third party.
Overall expenditures are much, much lower for your start-up candle business and the potential to compete with the larger firmly established companies is evened out. As a matter of fact, you could use the infrastructure at Amazon Marketplace for selling your goods online which simplify the four points mentioned above.
In my opinion, already existing offline enterprises such as a small gift shop or supermarket would be much better off owning their own site because it will ensure a stable, secure presence in the long run. When third party services are used to build a piece of real estate on the net some of the control is lost due to changes in rules or regulations.
Drop Ship Your Way to Early Retirement
One of the best work from home business opportunities at the moment is e-commerce drop-shipping. This model involves convincing certain suppliers to allow you to sell their products. You first decide on a niche – say candles. Second, you find suppliers and third, create the website.
The customer places an order on your site which is then sent to the supplier who has the item or items delivered to the consumer. You do not need to be concerned about storage. Payments are made through an automated system. I have made it sound very simple. However, each of the methods I describe has their strong and weak points.
Done properly you could make a living with drop-shipping and go on to sell your website for a substantial amount of money. One fellow, I know retired with half a million dollars after 4 years of work. Personally, I would have kept at least one store open for the passive income stream but to each his own.
Selling Downloads and Services is the Simplest Model
A whole new economy has been built online around selling small quantities of items including information and services. The work from home business I operate is called affiliate marketing. The model I use is the authority website method (there are several models).
The way it works is we create a website with expert content and use various marketing strategies to sell products or services owned by other companies. In return, we receive a commission. It is proven to work and is relatively easy to learn and implement. You can check it out here if you like: My Wealthy Affiliate.
Services such as training are very popular leading to the promotion of information products. These are wonderful because they are created once and sold many times over. You can make a fortune if you are the creator.
Do Research to Avoid Being Had …
There are 3 main categories which online businesses fall into: moving a retail store online by creating a website, selling physical items stored by a third party and selling downloadable information products and services. Furthermore, the best work from businesses will follow a proven model resulting in a profitable venture.
I have briefly touched on two or three in this post. However, there is a large number available in each category and it is essential you research well to find the legitimate money making training. Having said that the basic theory behind each of the individual models is the same – it is just the approach is a little different.
So, Which Kind of Internet Business Are You?
Thank-you so much for taking the time to visit our site. Do you have an internet business? Would you like to start one? What kind would you like? Do you have any questions about how to do it? Please feel free to leave any comments and questions below and we’ll be more than happy to answer them as soon as possible!