Everyone's Favourite Online Income Stream & Why?
I know when I started in the online world, I wish they'd been a list of the different ways of making money online with peoples sharing their favourite method and why.
Let's add to this thread and help others make it a resource for newcomers to help them choose their initial online business model.
Simply share your favourite online income stream (it has to be one which is currently making you an income) and a brief explanation of why this is your favourite versus the other opportunities.
Here's a list of online income streams to get things started.
1. Local business consulting
2. Affiliate marketing
3. CPA marketing
4. Video marketing
5. Information publishing
6. Blogging
7. Live events
8. One on One Coaching
9. Group coaching
10. Ecommerce
ADD more online business models, if you use one that's NOT on the list...
Here's My Favourite:
I love the group coaching online business model. This is the business model where I offer to help student achieve a specific outcome (e.g. start an online business, get their first 1000 subscribers or launch their first online information product). The training is pre-recorded video training with worksheets, video interviews and case-studies, which are delivered weekly over a period of 6-8 weeks. The student have access to me during this time to help them achieve the transition. There really is no ceiling to the income this business model can generate, because it can accommodate 5 student unto 5000 students.
The price point is also higher than a standalone information product but significantly cheaper than the cost of working one on one with a client.
This is my favourite business model because it allows me to work with like minded individuals, from anywhere in the world (as long as i have an internet connection), help them make a real transition in their life and business (i.e. the promise of my group coaching programs). The leveraged nature of this business model also allow me to achieve my financial goals whilst helping the maximum number of people I can.
Although I started my online journey providing web design services to local businesses, I transitioned to the online group coaching business model, as I prefer the flexibility, the opportunity to serve and work with individuals with goals that I have achieved (so I can truly help them from experience), and of course the income (we all got to put food on the table).
It's currently my favourite online income business model.
What's Your Favourite Online Income Stream and Why?
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