Choosing,Business,Model,For,Yo business, insurance Choosing A Business Model For Your Online Business
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Choosing A Business Model For Your Online Business(c)Copyright 2004 by Leigh Butlerhttp://www.onlinebusinessresources.netWhether you already have an online business or would like tostart one, developing a business model is a must. A business model spells out how you are going to generate revenue from your business.If you really want to succeed online, then your mustdetermine how you are going to generate revenue and make profit. Otherwise you won't be in business very long. According to the small business administration, about 50% ofsmall businesses fail each year, and 95% of small businesses fail within the first 5 years. I'm sure you don't want to be included in those statistics.That's why if you haven't done it already, you should choosea business model, now. Ask yourself, how will my online business generate revenue?Here are 3 business models frequently used for onlinebusinesses.1)The Ecommerce ModelRevenue is generated by selling goods or services over theInternet. Examples of goods and services include products such as ebooks or candles and service such as consulting or virtual assistance. Selling products from affiliate programs would also be considered ecommerce. This is not an exhaustive list but it should give you an idea of what ecommerce is.2) Content-Rich ModelRevenue is generated by selling advertising on your site orin your ezine. Lots of quality content is provided to visitors/subscribers to attract them and to keep them returning to your site or subscribed to your ezine.The more visitors/subscribers your site or ezine has themore you can charge for advertising. Generally,advertisers pay a certain dollar amount per thousandvisitors/subscribers.3) Membership/Subscription ModelRevenue is generated by charging subscribers for access toyour site or certain parts of your site. This model can alsobe used with ezines. You can charge subscribers to receive your ezine or generate a premium version of your ezine and charge a fee.These are the 3 basic business models online businesses currently use. Of course these 3 models are not the only models out there. There are others. Many online businesses use a combination of models. For example, you can develop a content-rich site about gardening and sell advertising space on that site to advertisers who are trying to reach people who are interested in gardening (content-rich model). You can charge visitors for access to a premium area of your gardening site where you provide more quality content that can't be accessed without becoming a member (membership/subscription model). You can also sell gardening supplies and books from your site (ecommerce model).Choose a business model and you might succeed online. Don't choose a business model and your business may not bearound next year or five years from now.So choose a business model now so you can have success online! Article Tags: Business Model, Online Business
Choosing,Business,Model,For,Yo