Make Money Online: What Makes A Good Business Model?

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We've all been lured by the Siren of making money in our sleep. We are bombarded with offerings of “blueprints” that will help us get rich quick. Now let’s talk about reality… …

We've all been lured by the Siren of making money in our sleep. We are bombarded with offerings of “blueprints” that will help us get rich quick. Now let’s talk about reality…

There’s no magic wand, but there are business concepts that scale easier than others. You can make money while you’re awake and while you sleep, if your model is right and you market it properly.

This material was originally presented to the Austin Online Marketing Club on April 9, 2014.

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  • 1. Make Money Online What Makes a Good Business Model? How to Scale Without Breaking the Bank 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 1
  • 2. About Tommy Landry President, Return On Now Specialty: Internet Marketing SEO, SEM, Content, Social, Websites, Online Advertising, Web Analytics, Metrics 20+ Years Marketing 13 Years SEO 9 Years SEM Lifetime of Content & Social 4/11/2014 Copyright 2009-2013, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 2
  • 3. Where to Find Me Twitter Me: @tommy_landry Business: @ReturnOnNow LinkedIn: www.linkedin.com/in/tommylandry/ Email: tommy@returnonnow.com Website: http://ReturnOnNow.com Facebook: https://www.facebook.com/ReturnOnNow Google+: https://plus.google.com/+Returnonnow/ 4/11/2014 Copyright 2009-2013, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 3
  • 4. Table of Contents 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 4 Business Concept Typical Advice What Actually Works Components How to Know A Model Is Scalable The 5 Best Scalable Models Online Marketing Overview
  • 5. Business Concept – Typical Advice 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 5 Chase Your Passion: Envisioned Image Source poiphotography on Flickr under Creative Commons Attribution License “It isn’t work if you love what you’re doing”
  • 6. Business Concept – Typical Advice 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 6 Chase Your Passion: Reality Image Source Keith Tyler on Flickr under Creative Commons Attribution License Image Source Alina Sofia on Flickr under Creative Commons Attribution License
  • 7. Business Concept – Typical Advice 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 7 Work Hard and Success Will Come: Envisioned Image Source NCDOT on Flickr under Creative Commons Attribution License
  • 8. Business Concept – Typical Advice 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 8 Image Source procsilas on Flickr under Creative Commons Attribution License Work Hard and Success Will Come: Reality
  • 9. A Hard Pill… 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 9 Provide Real, Lasting Rlief Image Source: http://www.bls.gov/bdm/entreprene urship/entrepreneurship.htm
  • 10. Business Concept – What Works 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 10 Solve a Problem / Fill a Need That You Are Uniquely Positioned To Fix Provide Real, Lasting Relief
  • 11. Business Concept – Components 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 11 Overall Offering Products & Services Target Audience(s) Distribution Strategy Uniqueness
  • 12. What is Scalable? How to Know? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 12 Value is built on process Wealth is NOT an event Repeatable Processes = Sellable Assets Step 1 Step 2 Step 3
  • 13. What is Scalable? How to Know? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 13 Breadth of Impact Help A Few People A Lot, Or A Lot Of People A Little Margin = What They Will Pay For The Value You Provide Profit = Margin * Volume Examples to $1M 500 people pay $2,000 each for a training program 200K people pay $5 each for money management app
  • 14. What is Scalable? How to Know? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 14 Value CANNOT Be Tied to Time Time = Limited Resource No Scaling On Limited Resources Not a Job, A Business To Provide More Value… Buy More Time Via Outsourcing, Contractors, or Partner Build a More Efficient Process
  • 15. 5 Most Scalable Models 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 15
  • 16. • Buy Once, Rent Many Times • All Upside After Breakeven on Rentals 5 Scalable Models: 1. Rentals 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 16
  • 17. • Other Less Obvious Rental Businesses • Licensing / Royalties • Patents • Music • Design / Cartoons / Comics / Animations • Photography • Co-working Spaces • Self-storage Facilities 5 Scalable Models: 1. Rentals 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 17
  • 18. 5 Scalable Models: 2. Content 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 18 Write once, sell many times Incremental cost / unit is low
  • 19. • Other Types of Content Businesses • Website premium subscription • ebooks • Online training courses • Data / Research / Analysis • Music 5 Scalable Models: 2. Content 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 19
  • 20. 5 Scalable Models: 3. Human Resources 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 20 Solve a problem using people to do it Remove the trouble of managing resources for your client Examples: Virtual Assistants Staffing Companies Marketing Agencies Content Generation Businesses Consultants
  • 21. 5 Scalable Models: 4. Software 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 21 Build once, sell as many times as possible Very low variable cost – deliver digitally to save money Examples: Apps, SaaS Platforms, eCommerce Systems
  • 22. 5 Scalable Models: 5. Distribution 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 22 Business of getting products from manufacturers to consumers Examples: Franchising, Online Mega Stores, Direct Selling TV
  • 23. Online Marketing Overview 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 23
  • 24. Demand Gen vs. Lead Gen 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 24 Demand Generation Goals: build awareness, create a buzz, and raise your public profile Position yourself to drive business Elements: Branding, traditional advertising, reputation mgt., PR, etc. Lead Generation Goals: identify prospects, engage them, and close a sale Focused on capturing leads, working them, and generating revenue Elements: SEM, display advertising, email marketing
  • 25. Online Marketing Focus 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 25 Diversify Traffic Sources SEO SEM Content Marketing Social Media Display Native Advertising Build a List Build a List First Use Email Marketing to Nurture and Harvest the List
  • 26. How to Build a List? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 26 Get the traffic to your site, then what? Landing Pages Page where traffic will “land” and you aim to convert them to a lead or customer There is a whole science behind conversion optimization (for another day) Squeeze Pages Special types of landing pages where you promise something of value to “squeeze” an opt in out of the viewer Typically a hard sell and only asking for basic info (name, email address)
  • 27. How NOT to Build a List? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 27 Purchasing Lists Trickery Scraping Websites Harvesting From Groups, Meetups, Social Media, or other Opt-In Services Just say NO to SPAM All Marketers Should Read the Details of the CAN-SPAM Act of 2013 Image Source namestartswithj89 on Flickr under Creative Commons Attribution License
  • 28. What to do with “The List” 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 28 • Send An Immediate Autoresponder • Get a Double Opt-In if You Can • Set Expectations, Build Trust Welcome Message • Time-Limited Workflow of Messages • Increase Urgency With Each • Know When to Pull Back Marketing Automation • After MA, Move Contact to Ongoing List • Send Newsletters and Intermittent Offers • Use Discretion! Watch the Volume. Ongoing Offers
  • 29. Types of Offers: Get Creative! 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 29 Your Services Affiliate Offers Partner / JV Deals Promote Events / Sites Consultations or Trainings Image Source webseology on Deviant Art under Creative Commons Attribution License
  • 30. Thank You! Questions? 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 30
  • 31. Credits and Attributions 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 31
  • 32. Sources 4/11/2014 Copyright 2009-2014, Austin Return On Now Internet Marketing LLC. All Rights Reserved. 32 The Millionaire Fastlane, by MJ DeMarco ©2011 - http://ow.ly/vfC0T Image Attributions Slide 7: Penske Truck Image licensed under creative commons attribution, Flickr user AtomicTaco Slide 7: For Rent Sign Image licensed under creative commons attribution, Flickr user thedarkthing Slide 7: Bike image licensed under creative commons attribution, Flickr user mobikefed Slide 8: Storage Facility image licensed under creative commons attribution, Flickr user byebyeempire Slide 8: Co-Working image licensed under creative commons attribution, Flickr user hyku Slide 9: Book image licensed under creative commons attribution, Flickr user calevans Slide 9: Magazines image licensed under creative commons attribution, Flickr user katielips Slide 9: Newspapers image licensed under creative commons attribution, Flickr user Jon S Slide 10: ebook image licensed under creative commons attribution, Flickr user anitakhart Slide 11: Ad Agency image licensed under creative commons attribution, Wikimedia Commons Slide 13: Franchising image licensed under creative commons attribution, Flickr user Wystan