Within the home business industry, you’ll find all kinds of different ‘flavors’ of money-making opportunities, but generally speaking, there are 3 primary business models that most people are familiar with in the home business industry. They include:
- Affiliate Marketing - This is one of the simplest ways to make money because there are hundreds, if not thousands of affiliate programs that you can sign-up with and begin making money. Many of them are free to join. As an affiliate marketer, you market a particular company’s product or service, and when you send them a customer (make a sale), you’re paid a commission. Here’s a quick example… Ever notice how many websites promote books from Amazon.com? Well, most of these websites are actually Amazon.com affiliates… and when someone clicks on one of their links from their site and buys a book on Amazon, the website owner automatically receives a commission directly from Amazon.
- Traditional MLM & Network Marketing – Traditional MLM & Network Marketing is a business model that started 60+ years ago and is very much alive today. Some people scream pyramid or scam but in reality they just don’t understand that the home business industry is a way to make an honest living. Essentially, Network Marketing is a marketing tactic in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit. This method creates a downline of distributors. Many of today’s top nutritional and service oriented products are sold by independent distributors that earn a commission every time they sell a product. The fundamental difference between Network Marketing and Affiliate Marketing is that you can recruit other representatives and override their sales. No different from the real estate industry where brokers can earn override commissions on their agents.
- Direct Sales - In network marketing, the main focus is on building an organization of salespeople buying a little bit of product each month. The logic behind this is simple; the majority of people can afford to buy $50 – $150 per month of product volume. But there are other options that exist in the home business industry that tend to focus on a big, one-time up front commission, instead of smaller commissions. The products in the Direct Sales industry can range anywhere from travel to wealth education and marketing seminars, and many of them have a price range from $1,000 – $15,000. The commissions vary and allow someone to generate cash-flow quickly to cover advertising expenses and other operating costs, etc.
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Ginny Dwyer is an affiliate and network marketer helping others build a long term residual income.