Reliable Online Businesses

There are literally thousands of types of online businesses which you can venture. However, not all those business models are reliable! In fact many of them are seriously flawed and misleading, affiliate marketing, for example. And most of the rumors, cited as ‘facts’, you hear about online businesses are either scams or just some kind of HYPE! Such hyped businesses are not the matter of this article. You can read about such businesses in my previous post. In this post, let me introduce yourself with the legitimate and reliable business models that perform well in the online world. After reading this article, you’ll be convinced why I claim that such models work while the hyped ones which I have discussed in previous post do not work.


1. Selling own products

If you have your own products or services to sell online, then that will probably be the most rewarding and most reliable form of online business. The products can include anything that sells online like ebook, software package, mobile applications, website themes, designs, and so on. You can even sell tangible goods like foods, clothes, accessories and gadgets by taking order online and delivering to the ordered place. Since, you receive payment in advance, there won't be much risk and you can plan the shipping arrangement so as to minimize your cost. So, there's a huge potential if you chose this model. You can become a millionaire or even billionaire by trading goods, especially, intellectual (intangible) goods like ebooks and application softwares online as the marginal cost is reduced greatly in such goods.

2. Providing Professional Services

In the same way, you can provide services like online consultation, programming based services like customizing themes and plugins, writing articles, search engine optimization, social media marketing, and so on. There are literally hundreds of services you can provide online successfully and get paid for in return. It will take some time to get exposure but once client start approaching you, you'll be busy and as long as your service is good and satisfying to the customers! Real reviews from the satisfied customers is an added advantage in such a case.

3. Brokerage sites or platforms

Building a brokerage site or platform is almost an easiest way of making money. Although you'll have difficulty in the beginning, because of the requirement of huge initial investment, you'll just reap the rewards afterwards as your business grows by leaps and bounds. There are plenty of such sites operating in the web which make hundreds of thousands of bucks everyday. Example of such sites include, online job mediator sites like www.freelancer.com and www.elance.com, foreign exchange brokerage sites, paypal, amazon, e-commerce trading platforms, and so on. These are a bit difficult to set up on a personal level but if you are a big organization, you can come up with ideas of creating such intermediate sites!

4. Advertising

Making a website that works as an advertisement of your business or an organization is also a reliable model. You can get third party advertisements as well to earn a residual income. However, because the websites are cheap and effective way of advertising this type of business model will help you earn a reputation that can help you increase your sales. Moreover, allowing pre-ordering facilities in such sites will make you aware about the sales you'll make in the near future and prepare accordingly. For example, if you get high pre-orders, then you can order inventories in advance to meet the demand from customers. This model is more beneficial to the hotel and tourism industries which accept online booking of the services. There are literally many ways you can take your business to the next level by setting up a website which primarily works as an advertising tool for your company.

Most of the successful online businesses or websites fall into either of these three categories. There are huge buzzes over the successful online businesses in the internet. However, I recommend you to trust only the ones whose success has been proven. The self-claimed successful businesses are dubious and should not be trusted at all.

Comments

  1. [...] In the end, all these tools and technologies discussed in this post are okay if you want to earn additional income but cannot provide you a full time income for you to say good bye to your regular job. Any income figure with more than 3 digits should be looked upon with caution. Moreover, since these businesses are of highly dynamic nature and are constantly subject to change and competition, they cannot be a sustainable source of income for a long term. Of course, you can adapt with the changing scenarios, but that is not enough always. Therefore, I advise you to think twice before you decide dropping your regular job to start an online business, especially if that is of the type discussed in this post. If you really want to start an online business then read my next post where I’ll discuss about the reliable online business models. [...]

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