What is Internet Online Business?
In other words, it will be doing business over the internet. Well, it can be considered as long term and legitimate business. You can be selling virtual or physical products in online business. It is your choice whether you want to fully physical or virtual or even both to do the online business. You will need to consider on the shipment of the physical products and also the delivery method of the virtual products once the payment is made to you. One of the best part in online business is that you can treat it as your active or passive income. As your business grew, it may become your main active income as part of your full time business. Internet Online Business is a type of business that you can turn into a 24 by 7 income generating business. To start an internet online business, you do not need a large capital like you will need for a franchise business. So if you are considering to do it with low cost and gain high return, then internet business might be your choice. Please do note that the earning from online business, it’s also considered as taxable income.
Types of Internet Business Model:
The following are the various types of business model that you can consider to start your internet business.
- Comprehensive Catalog/Retail Model
- Sales Letter Model
- Paid E-zine Model (Paid Newsletter – eg: Finance)
- Membership Site Model (eg: Match making sites)
- Viral Model
- Community Model (Paid Forums)
- Comprehensive Resource Site Model
- Free Functional Tool Model
- Free Tip of the Day Model
- Expert / Talent Model
- MLM / Network Marketing
- Affiliate Marketing Model (Commission 95 – 100%)
- E-Bay Power Seller
- Domain Name Trader
- Drop Shipment
CONs of Internet Online Business:
Speaking of disadvantages in the internet online business would be the exposure to scams, frauds, computer viruses and also hacking. The transactions activity within internet will be a faceless transaction, where you don’t get to see the person face to face in order to deal with them. In other words, you will not know who are you dealing with. To protect yourself against viruses and hacking, it’s advisable to install internet security and antivirus software into your computer. You can also consider to use pen name instead of your real name to protect your identity when you’re doing internet marketing business.
To get yourself started, the basic needs will be a domain name and a hosting account. You will need to register a domain name which might cost about USD $10 per year. The domain registration will be done with the domain registrar. You also need a hosting account with about 500 MB to 1 GB of disk space that would cost USD $10 – $20 per year. It also depends on the hosting companies offers. Other hidden cost might occur and it would come from the software that you might need to use along the way to make your business model and strategy work.