Creating Business Model..Let's Do It Together!!!!

I am in the process of creating an Internet Business. Of course, my goal is for it to be successful. As with any business in the development stage, the first thing I need to do is develop a business model. The reason I need to do this first is that it describes the way in which my company makes money. After developing the model, I will have a map of what I need to do to be profitable. Developing a business model is critical. Because I am in the process of developing my own model, I thought it might be beneficial to other classmates if we work through the process together.

In my point of view, whatever your web site may be about, you can be pretty sure there is a loyal following of people online who share a similar passion. We can refer to these like-minded individuals as your target market. By providing an online reference for your target market, you can assimilate existing products, references, resources etc onto your site for everyone to view. Visitors to your site will have access to your well-researched links. Ignoring the potential of actually reselling something (i.e. selling someone else's products for them with a share of the profit going towards you), you can easily generate income by linking to other sites. This is how it works.. other online retailers, service providers etc will pay you for leads (customers coming from your web site), i.e. if you manage to channel a percentage of your target market onto other sites, you can get paid. Just having a visitor click one of your links can generate a small amount; if they follow your link to another site and actually buy something (which is common) you stand to inherit a percentage of that sale.