Friday, January 6, 2017
Where is your Revenue?
by Jeanette Cates
Faced with the unlimited possibilities for earning revenue from your online business, how do you structure your business?
For example, you can earn from - digital affiliate products - physcial affiliate products - your own products - resale products - adsense on content sites - consulting or other personally delivered services - recurring income services you provide - leading teleseminars or teaching classes and so many other sources!
So how do you decide on the appropriate mix for your business?
First, look at the reason you started your online business. If it was to build your visibility and credibility, you're likely to want revenue from your own product sales or your personal services. If it was to make a little more money, it may be from affiliate products. If it was to create a passive revenue source, it may be a combination of revenue sources. So revisit your purpose.
Second, look at your existing sources of revenue. For example, if you're already making money from affiliate product sales, it's relatively easy to ramp up that part of your business. On the other hand, if you've never sold an affiliate product, it may be harder to start that than to expand something you're already doing. Expand on your strengths, rather than spending time shoring up your weaknesses.
Third, look at your lifestyle. If you want a quiet source of revenue, you're likely to enjoy selling affiliate products and producing adsense content sites. Neither takes any customer support or personal contact, so you can maintain a low profile. On the other hand, if you want to work with people and gain a reputation as a leader, then you're more likely to want to provide a direct service, sell your own products, and lead teleseminars. Only you know what your comfort level dictates.
Once you have answered these three questions, then you're ready to outline your desired revenue sources. You may want to work on each of these revenue streams, but adjust the percentage of your income that comes in from each. For example, I know one man who makes 100% of his income from adsense content sites. A woman I know makes 30% of her income from her own products, 50% from affiliate sales and the remaining 20% from teaching and consulting.
Adjust your percentages over time. For example, while you may be happy with 50% of your revenue from consulting right now, you may not want to continue that level of personal service. So you'll increase your revenue from adsense content sites and affiliate products to replace the revenue from consulting - after all, it's hard to do a lot of traveling while you're tied to client services! So look down the road three to five years and start moving that direction now.
Your online business is your choice. That's one of the wonderful realities about doing business online. There is no one successful model - each person designs their own ideal reality. So examine the possibilities, define your ideal revenue mix and choose your own path to Online Success.
Copyright 2006 Jeanette Cates
Dr. Jeanette Cates is an Internet Strategist who works with independent professionals who are ready to turn their knowledge and their websites into gold. Dr. Cates offers a one-time Brain Dump Special for online business owners seeking guidance. http://www.YourInternetStrategist.com
Article Source: http://www.articlesphere.com/Article/Where-is-your-Revenue-/21885