some good advice
An In-Depth Guide to Online Business Revenue Models for Lifestyle Entrepreneurs
If you’re in the process of planning or starting a business online, you might be wondering what the best way to make money is.
This is especially true if you’re planning to start a lifestyle business (a flexible small business with the goal of supporting the owner’s lifestyle as opposed to a typical business with the goal of earning as much as possible).
For example, some revenue models will require a big investment of time or money before you start to earn an income. Some might allow you to keep your day job while starting the business. Others might be better suited to running while traveling.
The four most popular online business revenue models
The four most common revenue models for online businesses are: selling services, selling products, affiliate marketing and advertising.
- Start-up time: how long will it take you to build up to a full income?
- Income “passivity”: how “hands off” could the income eventually be?
- Revenue per visitor: how much average revenue will you earn from each visitor to your site?
- Visitors per month: how many visitors per month will you need to earn your target income?
Corbett Barr. Corbett is cofounder of Fizzle, a place for creative entrepreneurs, writers, makers, coders and artists, all working to support themselves doing what they love independently on the Internet.