Online entrepreneurs of all sizes love to complicate their businesses—why? Because they think it’s supposed to get more complicated, more sophisticated, more like a big corporation over time. After years of watching successful online businesses thrive, we’ve come to realize that simplifying and streamlining is the real path to building a business that operates smoothly and builds wealth for the owner over the long run. A foundational piece of this is having real clarity around your business model. That’s why for this episode, we discuss:

• The most common online business models we see and how they work
• Why your product or service offering plays a huge role in your business model
• How a clear and defined business model can generate more profit and create a smoother running business
• Why it’s ok to pivot your business model if you need to
• What we learned trying to add another revenue stream