For example, if you are an affiliate marketer for Musician's Friend, an online musical instrument retailer, you can advertise their products on your site. If a person visits your site, and clicks on the link that takes them to the Musician's Friend website, and they purchase an instrument within a certain amount of time (24 hours or more, typically), you get a commission on the sale.

If the due-diligence process is new to you, and you've never bought a business before, then online marketplaces and auction sites may not be the best options for you. On the other hand, even if you do have a great deal of experience with the sale of online businesses, there are times when working with a broker is still the smartest thing you can do.
When buying an online business, entrepreneurs have the ability to buy into a company that’s already proven to be profitable and the products are already in demand which means it’s a valuable asset to gain. Entrepreneurs can also buy into existing businesses to gain more market share in an industry they already exist in, making them a more fierce competitor and giving them a greater opportunity to dominate.
Auction sites are similar to business marketplaces with the main difference being that potential buyers can bid on sites. Using this system, sellers have the opportunity to attract more interest in their websites, drive up the price of their businesses and earn more money. At other times, sellers may auction off a site without having a firm grasp of its value, which gives the market the chance to cast a vote with their bids.

There's a proverbial gold rush happening today, of people trying to launch chatbots for their businesses to help automate some of their sales and marketing efforts that are needed to properly grow and scale in today's market. However, similar to California's Gold Rush, those that will likely get rich are the ones that sell the picks and shovels. For that reason, why not launch your own chatbot business? Sure, there's some effort involved here, but this is definitely worth the steep learning curve.
Once you’ve chosen a name and business structure, filed paperwork with the state and set up your website, you’re ready to get going with your online business. Remember that the Internet is a busy place and you can’t sit back and wait for customers to come to you. Look for ways to actively promote your business through online advertising, social media and old-fashioned word of mouth.
×