Do You Want A Solid Online Business Model,?

The "Make Money Online" space can be a fairly hectic and crazy place at times; in fact the sheer volume of ideas and trends is enough to drive even the most stable of people crazy. I for one have felt overloaded at times which brings me onto the central theme of this article: the Business Model and its importance as a way to make money online.

To make money online a clear business model is needed. This must have a couple of components. Since part of the aim of an online business is to automate as much as you can repeated income is important. This is where the power of the internet is seen as it is possible to automate. The next thing is that the model must be scalable. This is needed so that when the time is right, you can multiply your income easily and efficiently. This article describes a clear business model. This model is taught in the Six Figure Mentors organisation and is practised by its founders and members. The model is made up of a triangle of 3 key points discussed below:

Residual Income

Residual income is also known as recurring income. This is income that you receive every month without having to do extra work. There is obviously the work you do to set up the income stream however once this is done you receive regular payments every month. It's a little bit like your mortgage, or your utility bill, only that you are on the receiving side of the equation. Examples of how to generate a recurring income include creating your own digital product or starting a membership site. You can even generate a recurring income from promoting another person's product and earning commissions. If that product has a monthly payment structure your commission income will also be monthly hence recurring.

Joint Ventures

Joint Venture (JV) promotions involve partnering with some who promotes your product to their list of prospects. For this you will need a product and you will need to identify someone who has a prospect list in you niche. The product could be from your existing business for example or could be something you create for a specific purpose. A favourite here that is popular is the digital information product.

High Ticket

High Ticket Products are products that sell for a high price. A benchmark would be $1000 and you would expect to make something or order 1k for each sale. Strangely enough, there are a large number of high valued products in the online market place which you can promote if you don't have your own. The logic here is that you only need to sell a couple of these high ticket items per month to top up your monthly income.

To Sum Up - Putting It All Together

The three parts of the business model described above must be put together to generate a monthly income. When this is done it is possible to have a business with a solid monthly income to make money online.