Top 5 Model to Creating Wealth Online
If you want to be successful in the online marketplace the first thing that you need to do is spend as much time as you can educating yourself about the business models that you choose to participate in. There are five primary business models that are generally used to create wealth online.
will create income and is available to those who have decided to venture into online selling.
Retail arbitrage is the act of searching for products that you can buy on clearance racks or discounted racks in stores that can be found at a reduced rate. However, the opportunity is not a consistent opportunity because once the inventory is depleted you are back to looking for a new opportunity to source for the income that you are trying to make. So, it’s a cycle of searching for items, finding the opportunity and then shipping the item out yourself for profit. This model can be lucrative in the short term, however many online sellers resort to this for extra cash and not for regular income.
Wholeselling is when you seek out business deals whith wholesale suppliers that will give you discounted pricing on goods that you can then go sell online. You can do very good and consistent business with a wholesale deal if you are savy and can find the right market or niche item that sells. This will require a lot of research prior to you enetering into an agreement with a supplier. You need to make sure that you’re capable of moving the product and that shipping will not eat into your profit margins after each transaction.
FBM is simply fulfillment by merchant, which means that you will be shipping each product out yourself. This can be good for cost savings on shipping. However, there are several steps that you will need to follow after each sell to give the buyer the proper feedback or your reviews and feedback could ultimately suffer. You should send the buyer an email immediately after each purchase, and be sure to send them tracking information as soon as you ship the item.