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Ep 50: Business Model Basics- 4 Types That Can Work For You
Over the years, I've experimented with various business models, and I've learned valuable lessons that I want to share. These models are versatile and can work in almost any market. Here are four business models to consider, each with its unique advantages:
1. Creating Information Products
- High-profit margins: Information products, such as online courses and ebooks, have excellent profit potential.
- Low startup costs: Creating digital products requires minimal initial investment.
- Scalability: You can easily scale up your digital product business as demand grows.
2. Promoting Affiliate Offers
- Minimal product creation: As an affiliate, you don't need to create products; your focus is on selling.
- Credibility leverage: You can leverage the credibility and authority of product owners by choosing the right products to promote.
- Requires a good plan: Successful affiliate marketing requires a well-thought-out strategy.
3. Private Consulting
- Premium fees: Clients pay a premium for one-on-one consulting, providing a lucrative income source.
- Building reputation: Consulting helps establish your reputation, leading to more referrals and testimonials.
- Passive income potential: Consulting can also lead to passive income opportunities.
4. Done for You Agency Services
- High demand: Many people seek done-for-you services, making it easy to find clients.
- Multiple options: Offering different service levels, from DIY coaching to done-for-you consulting, allows you to cater to various clients' needs.
Before choosing a business model, consider your personality, strengths, and natural preferences. Align your choice with your vision and desired lifestyle. Each of these models has its advantages; the key is to select the one that best suits you and your business goals.
Here are three links to take a personality test to find your strengths.
StrengthsFinder
Kolbe
High5 Test
Website: www.tomclairmont.com
Online Course: Solopreneur 90 Day Launch Plan
Receive weekly tips and perspective emails from Tom on having a professional online business HERE.
www.tomclairmont.com
Support this podcast at — https://redcircle.com/solopreneur-success-path/exclusive-content
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By Tom Clairmont | Helping Solopreneurs Launch and Grow Their Business
5
55 ratings
Over the years, I've experimented with various business models, and I've learned valuable lessons that I want to share. These models are versatile and can work in almost any market. Here are four business models to consider, each with its unique advantages:
1. Creating Information Products
- High-profit margins: Information products, such as online courses and ebooks, have excellent profit potential.
- Low startup costs: Creating digital products requires minimal initial investment.
- Scalability: You can easily scale up your digital product business as demand grows.
2. Promoting Affiliate Offers
- Minimal product creation: As an affiliate, you don't need to create products; your focus is on selling.
- Credibility leverage: You can leverage the credibility and authority of product owners by choosing the right products to promote.
- Requires a good plan: Successful affiliate marketing requires a well-thought-out strategy.
3. Private Consulting
- Premium fees: Clients pay a premium for one-on-one consulting, providing a lucrative income source.
- Building reputation: Consulting helps establish your reputation, leading to more referrals and testimonials.
- Passive income potential: Consulting can also lead to passive income opportunities.
4. Done for You Agency Services
- High demand: Many people seek done-for-you services, making it easy to find clients.
- Multiple options: Offering different service levels, from DIY coaching to done-for-you consulting, allows you to cater to various clients' needs.
Before choosing a business model, consider your personality, strengths, and natural preferences. Align your choice with your vision and desired lifestyle. Each of these models has its advantages; the key is to select the one that best suits you and your business goals.
Here are three links to take a personality test to find your strengths.
StrengthsFinder
Kolbe
High5 Test
Website: www.tomclairmont.com
Online Course: Solopreneur 90 Day Launch Plan
Receive weekly tips and perspective emails from Tom on having a professional online business HERE.
www.tomclairmont.com
Support this podcast at — https://redcircle.com/solopreneur-success-path/exclusive-content