If you are spending more than 20 minutes on your initial business model canvas, you are doing it wrong. This video will show you how to capture your core business model assumptions on a Lean Canvas in just 20 minutes.
There are many different business models that you can use for your business. It is important to understand which one will suit your needs. Sometimes you can use more than one business model to create multiple streams of income.
Different business models-what are your options:
1. Marketing: A simple marketing site will involve a small website. This website will just be a few pages; Home page, about us, two pages of content, and of course, your sales page. Include a page for inviting affiliates to sell your product. Some marketers will make mini sites. This type of website will be just a sales page and a page inviting visitors to join their affiliate program. You should also include a free newsletter for visitors to sign up for.
2. Affiliate marketing: in order to make a good living from affiliate marketing you should build a theme based website. This is a website that is based around a special theme (for example health and wellness). You will join several related affiliate programs and make as many content pages as possible. These will be all about your specific niche industry. Keep adding to your content pages every week. Your content pages will act as valuable pre-selling tools to create curiosity about your sponsors’ products for your visitors and get the click through to your sponsors’ sales page. Always offer a free newsletter on your website. Try to join affiliate programs that will give you a residual or monthly income.
3. Network marketing opportunity: There are many network marketing companies online. Be very careful which ones you join and check them out carefully. There are some scams mixed in with these programs that will literally take your money and run (just close down). Always understand this very special market before you join. It is a mixture of building downlines and selling products and it is not for everyone.
4. Service: If you have experience in a certain field, or have a special talent, you can offer a service. Again, you should build a special website for this. It should be filled with rich, keyword content. The aim of this website is to persuade your visitors that you are the expert in your field and this is why they should hire you rather than your competition. It is a must to submit your site to the search engines. You should also be sure to offer a free newsletter.
These are just 4 business models you can build a business around. The important thing to know is that you should not only be interested in whatever you choose you should love to do it. In fact, you should love it so much that you should be prepared to work at your business even if it does not make you much money. Never start a business just to make money- start it because you are fascinated with the subject and want to know everything about your industry. If you base your business around a talent that you have, make sure you love to do it, and be prepared to spend several hours a day at your business.
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