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Online Business Models I Wish My Daughters Would Do

Instead of being waitresses, I wish they would do one of these ideas. I'm taking this list specifically from Jeff Lerner's new book "Unlock Your Potential" and you can also check out my podcast with him which I think will come out next Tuesday.

    1. Affiliate Marketing

    A simple example is Amazon. Amazon has an affiliate program. You get a special link for them that you share with people. If I tweet out, "Hey everyone, check out my favorite book on Amazon" and I put my affiliate link in the tweet, people click, and then WHATEVER THEY BUY DURING THAT SESSION, I get a 3% affiliate fee.

    So if I link to a $10 book but then they buy a $5000 computer also then I get $153.

    A higher end example might be if Tony Robbins does an affiliate program for one of his weekend seminars. If he charges $5000, usually a higher-end service like that does a 50-50 split. So if I tweet out, "Check out Tony Robbins new seminar," and use my affiliate link (disclosing I'm an affiliate) and ten people sign up using that link, I would get $25,000.

    I know people who make millions on affiliate marketing. The key is to build a nice size audience by delivering quality valuable content to people and then, only once in awhile, have an affiliate deal (with full disclosure) and you can do very well.

    2. Information Products

    I've done some podcasts about how to make an online course. But I'll give one example:

    A friend of mine launched an online course on "How to Get Major Media to Notice Your Company". Like getting on "The Today Show" or "Oprah", etc. She sells her course for a couple of thousand dollars. She makes about a million a year on it.

    How does she get that much? She does deals with people or companies who have huge email lists and makes them affiliates. Plus her course is very good so she has great testimonials.

    A good book to read when designing marketing around something like a course is to read Robert Cialdini's book, "Influence". Perhaps this will be the subject of another list.

    Also, I know a guy (check out my podcast with Brendon Lemon if Jay posts the link in the comments), who made some very small courses on Skillshare and basically pays his rent with what he makes.

    ALSO, and this is important for right here, within a week or so we'll be launching the ability to easily make "premium" idea lists. Idea lists you can charge people to read and you can make simple online courses with those. More on that later.

    3. Digital Agency

    Go double-niche: example: lawyers is too broad. So divorce lawyers.

    Tell divorce lawyers you'll make great Instagram content for them and when they start to see an increase in customers they can start paying you per month to maintain all their social media.

    This is a simple example but Jeff describes more in his book and on my podcast. Ditto for the rest of these.

    4. Ecommerce

    Something like the Ali Baba Arbitrage I've written about before but many more details in Jeff's book.

    5. Digital Freelancer

    You can see my earlier list, "how to make $2000 in a weekend" for different ideas for freelancing.

    6. Those are the five in his book. I'd say another one is

    The KDP Business idea I once wrote about before in a list. I think last week.

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