ARTICLE
3
Niche Model
This model focusses on a subject or interest, such as pets, golf or cooking.
Product Model
The product model sells specific products which could be singular or multiple and varied niches.
This may seem like a really dumb question at first, but considering that only 3% of people attempting to earn online actually do succeed, then it very relevant to understand how they do it. After all, I know more people who have spent years online achieving nothing than I do people who say they are actually making money.
That being said, the same kind of statistics ring true for brick and mortar business, for commodity or stock traders and many other venture categories. In fact it is said that 3% of the world population holds 97% of it's wealth.
The moral of the story - follow the 3% and do what they do. But not even that guarantees success. Success in any area of life will usually require a combinatin of factors.
Online entrepeneurship requires:
1. Business acumen
2. Certain skillsets
3. Certain financial investment, and here is usually where the tyre-kickers shout the loudest.
While it is possible to earn online without spending money, it is highly unlikely that you will progress beyond a certain level of earnings.
And yes there is a lot of hype and a lot of scams, but there is also a lot of real businesses and opportunities out there.
Going forward in this magazine we will be looking at all of these aspects and hope to give readers valuable insight.
Does Online Entrepeneurship actually exist ?
Top 3
Biz Models
Efficiency Model
This addresses a need. It could be a solution to a problem, or a way to make things work better.
Finally ...
Some online businesses are a combination of one or more models, so nothing is cast in stone.