Internet Business Strategies

The internet is the El Dorado of the twenty-first century. Lured by the siren call of easy money to be made, millions have tried their luck and a fortunate few have gone on to make the really huge bucks. So how do you go about getting your own heaping slice of the internet pie? Well, in order to start a web based business you first have to decide which of the many internet possibilities that you want to invest your blood, sweat and tears into and so, to help you along on this journey, I have made this list of top internet money makers and included links to sites of experts that can help you on your way to the big time. Just remember, there’s gold in them thar hills, but if you want to get it out of the ground and into your pockets you’d better pack a strong work ethic and loads of self-discipline; anything promising instant success is probably too good to be true.

Blog

Not long ago if you wanted to communicate with the world you needed expensive printing presses and even more expensive systems of distribution and promotion in place. Not so in the 21rst century, now you can set up a blog for free in under 20 minutes and the entire world, or at least the portion of the world that speaks English and has internet access, will be able to read your musings as fast as you can press “Enter.” Blogs have become mainstream and even big business and there are many who are turning tidy profits from this, just ask Businessweek. Yet, while anyone can read what you have to say why would they want to actually do so? This is the $100,000 blogging question. Fortunately, a raft of bloggers have popped up who’s main purpose in life is to help others blog. If you sign up with Erica.biz she will give you a free e-book called “Blog Success Manifesto” that was a great resource to me in getting my own blog started. Also, Problogger is dedicated to providing resources to the beginning blogger and even has a pretty decent book for newbie bloggers.

Store

The future of retail is online, where you can take advantage of the “long-tail” and sell specialized items that the Wal-Mart’s of the world have passed up on or just weren’t nimble enough to spot first. There are several different internet retail strategies including creating a store through E-Bay or from creating your own independent store. All have their pro’s and con’s and often the most effective strategy can depend upon the product. Do you have a great idea for a product that you would like to sell online but don’t know how to get started? Then I recommend that you read this excellent primer on starting an internet store by Steve at MyWifeQuitHerJob.com.

Magazine

Have you got a flair for writing and graphic design? Does the idea of working with sponsors and producing a quality product on a tight budget appeal to you? Well now, with the miracle of the internet, we can all be our own William Randolph Hearst or Hugh Hefner with very little cash invested, but a ton of sweat equity. Online magazines use similar software as blogs, and indeed the distinction between a magazine and a blog can be blurred. If you’re doing a magazine you will need to be pretty good at design and you will probably base your revenue model on advertising, so you will need to pick a theme that lends itself to advertisers. Openzine.com has some great examples and provides some great resources for learning the trade and Squidoo provides step-by-step instruction on getting started at becoming an internet magazine mogul.

Affiliate Marketing

Affiliate marketing basically means that you are promoting someone else’s product and sending customers to them for which they pay you a surcharge. There are a number of different arrangements and a mind-boggling array of products available; anyone from your local car dealership to a giant retailer like Amazon.com. The advantage to an affiliate deal is that you don’t have to worry about stuff like shipping and handling or credit terms. Your job is to sell. The good news is that you won’t find any lack of sites on the internet telling how to make money through affiliate marketing. The bad news is that most are selling get-rich-quick services and are of questionable value. A good place to start would be to read blogs by Yaro Starak and by Shoemoney that should cast a little further light on the process.

We have barely touched upon all the possibilities of making money online or spoken of two of the most lucrative businesses, pornography and gambling. Tons of money are being made but for citizens of most countries internet gambling is illegal. If you’re interested in pornography then, well, that’s for your own conscious to decide. And there are many, many more businesses that could make you an internet millionaire, some of the best ways haven’t even been invented yet. So be willing to explore, to experiment, and to work hard and you might find yourself joining the big money crowd.