The document discusses three components of a successful online business: residual income, affiliate/joint venture income, and high ticket income. Residual income refers to ongoing subscription-based services like Netflix. Affiliate/joint venture income involves earning fees from event ticketing or selling other companies' products. High ticket income comes from higher-priced individual products or services like Peloton bikes that sell for over $2,000 each.
4. Part Time + Entrepreneur =
PARTREPRENEUR
Par.tre.pre.neur (Noun) – a person who organizes and manages
a business(es) for only part of the usual working day or week,
usually with considerable initiative and risk
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8. Netflix
The company's primary business
is its subscription-based
streaming service which offers
online streaming of a library of
films and television programs.
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12. AutoCAD
AutoCAD is a computer-aided
design software that architects,
engineer, and construction
professionals rely on to create
precise 2D and 3D drawing.
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15. Case Study: Peloton
Residual
Monthly Subscriptions
start at $19.49 per month
Affiliate
For their existing
customers Peloton gives
$100 off accessories
when a new member
joins through a referral
code
High Ticket
Peloton’s bike’s start at
$2,245+
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16. “ I learned that focus is key. Not
just in your running a company,
but in your personal life as well
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Editor's Notes
Are you contemplating getting involved in the e-commerce world?
Have you gotten involved but are not making any kind of money or lack the success you want?
If so, then you may need to think about what kind of online business model you have or need to have.
Unfortunately, a good number of people are enticed by the promises of big earnings made quickly without even considering the business model or concept to make that kind of money.
All businesses – online and brick-and-mortar – need a well-thought-out business model for success even to be recognized. A business model is the foundation for your company.
A well-thought-out business model includes three parts and can work for any online or offline business venture, as well as for self-employed or independent contractors.
This is recurring money you get over a set period of time. It may come from recommending people to a membership side, from the continued use of a sold product or an agreed contract package. It’s money that comes in on a daily, weekly or monthly basis for all work you’ve carried out.
Netflix is the world's seventh-largest internet company by revenue.
This is money you make from selling another person’s products, usually in the form of a commission. You make money either on a per-sale basis or a one-off payment. For instance, you could sale event tickets, training guide, tangible products, etc. The commission you get is based on every sale you have a hand in.
Eventbrite is a U.S.-based event management and ticketing website. The service allows users to browse, create, and promote local events. The service charges a fee to event organizers in exchange for online ticketing services, unless the event is free.
This part is very interesting and can affect your income both online and offline. A high ticket product often has a four-digit price tag. You either keep the entire profits made from selling it or lavish commission for promoting another person’s productions.
AutoCAD is a computer-aided design software that architects, engineer, and construction professionals rely on to create precise 2D and 3D drawing. Retails for over $1,600 per year for a license
