So you're a fellow 50 plus solopreneur, you want to build an online business, one person business, who doesn't my friend? And it can be overwhelming when you're getting started. So here are six ways that you could generate income online. Six ways. Every single business model and product is going to fit under one of these six buckets.
And that's why I like to put it in these six main buckets because it just makes it simple. Everything is about keeping things simple for you so you don't get overwhelmed. Bucket number one are courses.
That's where a lot of people talk about the information marketing. It's taking your ideas, your concept, your IP, and just turning it into a course, a product, a program, something that's delivered. Used to be physical stuff.
When I first started, I was selling them as actual audio CDs. That shows how old I am. I was actually considering, should I do cassette tapes or CDs? I went with CDs.
Now it's digital courses, and courses can be mini courses from... $50 or $40 up to $200, $500, $5,000. So packaging your information into a course is number one. Number two is coaching slash consulting. And depending who you are, what your niche is, what your market, you might call it coaching, you might call it consulting.
People are paying you for your time. Hourly, monthly, there could be packages, there could be... Hey, it's $3,000 for five sessions. It could be $20 an hour. It could be $500 an hour.
Whatever it is, you are trading dollars for hours, but if you're in a really tight niche, a good niche where you're dominating, you could do very well with that. So that's number one. So we got coaching and consulting. We've got courses.
Now we've got one of my favorite topics. People have called the subscriptions, but because I want to stick with the C's, I like a theme where everything has the same thing. The third... one is C is called continuity income, which is recurring revenue and that subscription.
And that is whether it's information like membership sites. And that was my first big hit online was a membership site for strength and conditioning professionals. And it was about 50, $60 a year. I thousands of members within the first year. So that is recurring revenue.
It could be yearly. It could be monthly. It could be quarterly, but that really is the Holy grail.
Like that's the thing. And if you're interested in learning more, just type below. repeatable and we're going to rock and roll with that. So courses, coaching slash consulting, continuity, and then we've got commerce.
And I'm calling, I'm calling it commerce, although people call it e-commerce, but again, we're sticking with the C's. Commerce is selling the physical product. Some people do it on Amazon.
Sometimes you drop ship. Sometimes you pry the label. Sometimes you're using your own site like Shopify and we have products on Amazon. and I've done a lot with my own products with Shopify, especially I've had three different supplement companies, and that's where I made a really good chunk of my income was through e-commerce companies.
So people wanna come up with a skincare line or physical products or T-shirt or merchandise, whatever that is, but that is another revenue stream. So breaking it down, courses, coaching, consulting, continuity, commerce. Let's talk about the fifth one, commissions. And that's basically...
You're the middleman, middlewoman, whatever you want to call yourself, middle person, and you're receiving commissions. Often, it's known as affiliate programs, and you're promoting other products and programs. People on YouTube do it all the time, and they'll say, Hey, do you like my camera? Here's my link below to get it.
You click on Amazon, they receive a commission. In the information world, you could recommend, and I've done it. I've recommended like a $2,000 training program, and I would get a $1,000 commission. I didn't have to do a thing.
They did the sales, customer support, and I received a commission check, which is pretty nice. You just got to make sure you're endorsing good products, good programs that are reputable, because if you endorse something that's crap just for the money, your people are not going to trust you anymore. So find good, reputable companies that actually pay you. That's also important.
So courses, coaching, consulting is number two. Number three, continuity, which is that subscription stuff, right? Love that.
Number four is commerce, number five commissions, and number six, it's kind of a newer one. And I'm putting all of this under a bucket of commercials. Commercials meaning sponsorship, brand deals, people on YouTube saying, hey, buy this nice toothpaste, you know, and they make money from that. It's basically getting paid to endorse another product. Not necessarily commission, but...
Paid, maybe you're having a, newsletters are making a big comeback. So having ads and sponsors in those newsletters where you're getting paid on a click or you're getting paid on a CPM, which is per thousand views. So that is another viable market.
Little trickier, right? Even YouTube, if you are monetized and you're doing a video. and you're making money when the ads show, you get a percentage of revenue, I'd put that under this six bucket of commercial because you're not selling anything. You're not particularly endorsing anything. It's just passive income coming in through commercials.
So breaking it down, six ways, six ways to generate income online, and pretty much every model's gonna fall into this. Either courses, which is selling information, that could actually be books as well. We'll put it under the courses thing. Coaching and consulting, which is is selling your time and advice and expertise.
Number three, continuity, which is getting some kind of subscription, usually more of the digital type subscription or software. I didn't even mention that. Software's continuity, baby.
The fourth one is commerce, which is e-commerce, physical products and merchandise and dropshipping, all that fun stuff, right? The fifth one is, um, oh God, now I'm losing my track. As commerce, uh, we've got commissions.
right affiliate programs jvs you could broker deals when i sold one of my my uh companies recently i took it to a business broker and he made a lot of money just as the middle person selling my company that's a commission and the final one is commercials youtube ads brand deals sponsorship sponsors in your newsletter all of that stuff so figure out what your business model is there's obviously so many other factors but at least knowing at the end of the day how you're going to get paid is important. It comes even before like, what's my brand, right? You have to start thinking of how is this actually going to make money?
If you just want to do as a hobby, that's fine. But I want to show you that if you actually want to make this a business, you do have to put on the big boy and big girl pants and say, how is this going to get to money? And how is it going to be income? And once you know that, then you start kind of formulating it. Again, if you want to learn more, new report, just drop in 1k below in the comments.
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