Online Business Opportunities

Expand Your Online Business With A Complementary Business Model

If you are like most entrepreneurs, one business simply isn’t enough! Many entrepreneurial business owners have so many ideas that they want to start a dozen businesses all at once; unfortunately, if they do the likelihood result is one of failure.

The savvy entrepreneur will start with a single idea and build a business around that before even thinking about expanding or creating another business. This is just common sense!

If you’ve already grown a successful business and have now made the decision to expand your business into another branch, rather than simply expanding the current branch that you’re in, then you want to choose something that you would be able to leverage off each other.

Going in two completely different directions may be personally satisfying for you, but to maximize your success, it’s best if you choose something that fits seamlessly with your current business branch and it will make things much easier to manage.

There are many different ways you can do this.

For example, let’s say you have a thriving digital affiliate marketing business. You’re making money recommending courses that are delivered in the form of videos or text downloads.

This could be in any niche, not just online marketing. For example, you might be recommending fitness courses for your audience. A great way to expand your business would be to begin offering promotions for tangible items as well—such as dumbbells, yoga mats and so on.

This is a similar business branch, because it’s still affiliate marketing, but it’s just slightly different. You can go one step further and create an entirely different business branch that also pairs well with affiliate marketing.

One good way to do this would be to begin creating your own information products. As a product creator, you would develop your own courses and present them to your customers so that you could keep 100% of the revenue.

You’ll also be able to expand your profits by recruiting people who are in the affiliate marketing business to promote your info products.

Another example might be someone who is currently publishing fiction on Kindle.

As a self-publisher, you’re aware of the ins and outs of all of the technical tasks as well as the strategic ones that allow an author to publish their work on Amazon or a variety of platforms and make money from it.

So how can you expand on this business model in a new direction?

One way is to begin developing your own info product courses that teach other would-be authors how to do what you’re doing. This is essentially a non-fiction creation. However, instead of only making a few dollars or cents publishing a book about it on Amazon, you would be able to charge much more selling a digital course on your own website.

What about someone who started their online business as an info product creator? Maybe your first endeavor online was to create a course teaching people how to set up a blog.

One thing you can do is expand your business into becoming a service provider, where are you are charging people to handle the task for them. You could make money installing their blog and setting it all up for them.

As someone who is familiar with creating your own info products, you may also want to offer services creating info products for other online marketers. These would be people who don’t know how to brainstorm, research, and write or record their own lessons, but they would like a product of their own to sell.

If you started out as a service provider, you can also pair that business model with something your clients might like. For example, let’s say you started off as a ghostwriter. Your clients may be people who don’t have the time or knowledge on how to set up their own blog with the content you’ve created for them.

That could be an info product that you create and sell to those same clients. You may also want to spend some time creating content that you put on a private label rights store.

While your current ghostwriting clients may be able to afford your services for exclusive content to some degree, they may love to have the opportunity to buy your PLR in bulk to beef up their site, emails, and other needs.

Anytime you’re doing something online and succeeding with it, there is an opportunity for you to sell the information about how you’re doing it. So whether you’re currently an info product creator or not, think of everything you know that a newbie may not.

Use this as an opportunity to develop courses that could help others learn the ropes. Look at your current business model and see if there are affiliate marketing opportunities in your niche.

If you’re creating products or providing services, you may be able to add a business branch where you’re simply promoting others who do the same – your competitors! Of course, you don’t have to start a new branch that pairs well with your existing one.

There’s always the possibility that you would like a complete break from what you currently do so that you have something exciting and new to pursue online. You might be able to do this with a new niche, or a completely different business model that has nothing to do with what you’re currently in.

The only reason you may want to consider pairing things together is because it makes it much easier to use the momentum of your existing successful business branch to get the other one off the ground. For example, as a service provider selling ghostwriting services, it would be very easy for you to get those same clients to purchase your PLR.

By the way, if you want to learn about 5 lucrative online business models you can try, from affiliate marketing, to FBA/eBay and more, check out the featured resource below for a free report that covers 5 online business models that you can choose from. Pick one and get started today… 😊

Online Business Opportunities

Expand Your Online Business With A Complementary Business Model

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