what is the best business model for you in 2024 and Beyond you see there's a lot of YouTubers and gurus out there who are trying to push you into a specific business model because that's how they get paid when they sell you their overpriced courses but the truth is that you are a unique human being you have a unique personality you have a unique set of skills and experiences which means there's no one right business model for everyone you have a specific business that's going to be more tailored to your personality type and when you start working in that right business model that's in alignment with your lifestyle with your goals with your skills your experiences Etc then you are on the path to long-term success we're talking about the kind of money that can pay off debt can get mortgages you can really float yourself and fire your boss and live an abundant life for the rest of your life off of these types of businesses so the first thing we need to do as we go through my entire list of notes for this video is to break up the business types into two main categories first there are traffic based businesses and second there are conversion based businesses now we're going to go into the different businesses that fit under these categories and then we're also going to talk about the different skills and who is right for which type but I want you to keep in mind that we're actually working with a ven diagram you know the two circles that have that little overlap in the middle and you're going to see how some of these ideas can indeed overlap but when you start to separate out the business models through traffic versus conversions it's really going to help you get clarity so you can start taking Massive Action to build the momentum that you need to see the success that you desire so starting with the traffic based businesses these are what I would call the modern digital Creator businesses they can be bloggers they can be YouTubers it could be podcasters it could be reviewbased Affiliates it could be social media influencers the big idea here is that your main focus for your business model is to create publish and optimize content in a way that gets you lots of traffic and then generally you're going to monetize this traffic with either advertisements which could be brand deals but it can also be pre-roll YouTube ads like I'm showing on this video here or you can actually build out affiliate Revenue by promoting and recommending different products and by showing how to tutorials that teach people how to use specific products okay the big idea for the traffic business model is that you're just going to publish massive amounts of content that is going to create a wave of momentum that will result in traffic for you and then that traffic is going to be monetized by either advertisements or by affiliate offers now on the conversion side of things this is for coaches for course creators for drop shippers for white label product creators so I'm talking like skin care Hair Care supplements things like that for fulfillment by Amazon authors people who run events and Retreats um inventors and also affiliate marketers so that's the first point I want you to see on that kind of like looping of the the ven diagram okay in the vesa Pisces that's the part in the middle of the ven diagram is that affiliate marketing can work both ways and I think a lot of people are confused when it comes to affiliate marketing because they don't realize that Affiliates can be in either or both categories now on the conversion side you still need traffic there's there's no business online where you don't need traffic okay so at some point you still need traffic but instead of focusing in on traffic as the main goal what these folks focus in on is conversions it's copywriting it's creating offers it's creating sales funnels it's creating sales pages and optin pages that get a high percentage of the number of people who actually go look at your messaging to take a step another way of explaining this is what we call Direct response marketing and this is what the direct mail people did from the 1960s the 1970s the 1980s and on and on and on there's uh in fact on this channel uh and I'll put some links in the description here to some of the old school ways that people use direct response marketing to build large extremely large businesses that offered a lot of Lifestyle now for some folks you're already doing coaching you already have a skill you've been doing something for 15 years you have been a weight loss coach you've got a bunch of local clients who you've been helping lose weight and you want to transition that to an online business this is how you would know if you're in this conversion based Camp because you don't necessarily need to go spend uh months or years creating and Publishing hundreds of pieces of content to drive traffic if you have offers that you can rely on already what you can do is start to leverage $5 a day or $10 a day in Facebook ads or YouTube ads and that can be the traffic that you drive to your your offers that have great sales copy right you've got a wonderful sales letter you can start driving traffic for five bucks a day and that same day you will start to see data ACR you'll start to see are people reading my sales letter are people clicking through to my checkout page are people buying what I'm offering and when you focus in on that conversion side of business two things happen for you number one you do have the ability to earn like full-time income much more quickly and number two what you're really building is an asset that you own and that you control and that asset is going to either be your email list and or your customer list and by definition your customer list is also an email list and this is one way I want you to think about the two different business models differently is that when you're 100% focused on being a traffic generation person okay you're on the traffic business side of the game that means that one algorithm changed from Google that one algorithm change from the social media that you've been publishing to that one change can collapse all of your traffic and if all of your revenue is tied to traffic showing up each and every day and that algorithm change hits your business just went down to zero when I started first making money online as an affiliate back in 2003 yeah I've been making money online as an affiliate for over 20 years at this point in time I was all in on social media marketing okay I was on Myspace and I was publishing daily multiple times per day all day every day to be perfectly real with you and that built this huge body of work it built this huge momentum of traffic and I was linking people from Myspace over to my affiliate offers and I was making really really good money until Myspace sold from Tom to Fox News Corp and then Fox News Corp changed the rules they essentially changed their terms of service and said you can no longer link out to these places and overnight my income went to zero and this is how I personally learned the hard way that when I was all in on a traffic based business and I wasn't building an asset that I owned and I controlled that I was really at risk of having someone else in control of my long-term cash flow you can't go buy a house when your cash flow can be turned off by someone right that's a very risky prop proposition and this is what helped me understand learn begin to research and go down that rabbit hole of essentially building out a conversion based business which is what my wife and I run to this very day now I use things like YouTube Right organic YouTube which is a traffic business model to grow my audience and to grow my email list but my true intentions where most of my thought processes go where most of my daily actions go is actually focusing on the other side of the game on the conversion side of the game because once I get someone on my email list or once I get someone at a customer inside of my business I own that traffic I have the legal right to continue to communicate with that person via email and no one has the ability to turn that off and this is why I love conversion based businesses okay ultimately you are just selling products and the less we have to do before we make our offers to sell our products the faster we're going to get feedback going so on the traffic business game you're going to be publishing dozens and hundreds of pieces of content to build that momentum on the offer side of the game you're going to put up your first offer you're going to run some ads you're going to throw some traffic at it and then you're going to measure what happened and then you're going to pay attention okay they liked it they didn't like it you're going to come up with your next best idea you're going to optimize your offer for conversions and then you're going to run some more traffic to it and you're going to pay attention what happened and on and on so it's a quicker feedback loop that ultimately is building you that asset of your email list and your customer list so who are these businesses best for I'm not saying one of these two is better than the other for me I know where I fall okay I know I want to have a business that contains an email list and a customer list that I own because I need to have that long-term stability in my income I've got multiple mortgages I have multiple very nice houses I have multiple vehicles I like living a lifestyle allows me to Jet Set around the world in business class and I'm going to protect that at all cost which is why I need to make sure that the YouTube algorithm for example does not own me if for some reason YouTube turned me off I still would be able to make offers to my list I still would be able to create new offers I'd still be able to run ads to the offers I've already proven that work and my business would continue to generate enough revenue for me to live the life of my dreams on and on so that's why I'm over here but people who might want to lean into the traffic business the traffic side of the business in 2024 are really people who want to kind of hide behind their computer now I don't say this as a bad thing okay there is a big Trend right now about faceless YouTube channels which my personal opinion that's just some Guru bit trying to sell you a course that's going to tell you to go start making videos not that is not necessary by any means but if you think about bloggers as well you actually can start a blog under a pseudonym under a pen name you can then start creating content without having to put your face or your name on the line now some folks are actually working in an industry people maybe in the financial industry they're a financial analyst for a large Financial firm and they're not allowed to under their name actually go create and publish content I mean it could actually be the terms of their employment and they would be going against their employment agreement they could lose their job if they started publishing content let's say on Twitter on financial Twitter uh if they start publishing under their name so what these folks often do is they'll create a pseudonym they'll they'll go behind an anonymous account and then they'll start to post that content to really build up that brand fun fact when my wife and I started her Niche site in the meditation and spirituality space back in 2009 we really didn't have it from my wife's name her name wasn't really on the website we didn't even put her picture on the website for several years all we did was publish content under the brand name focused mainly on building that momentum in traffic and then we realized man I think if we actually gave our audience a connection to a real person I think it would improve the business and that's when my wife decided she was confident and ready and able to come out from behind the scenes of the business and really stand in the authenticity as the creator of that brand and everything in our business has done much better since but some folks lack confidence right now and you want to start publishing you want to start building the skills of driving traffic you want to start generating income online but you don't necessarily want to put yourself out there the traffic based business is a wonderful place for you to start and you'll be skill building the whole full time folks who are not yet experts okay there's a lot of people who are new they don't bring 10 15 years of expertise so when I started my YouTube channel here back in 2016 I already had 13 years of experience making money online as an affiliate I had six years of experience making money full-time online my last job I I left my last job in 2010 and I had made about a million bucks online when I made my first YouTube video so every video that I published to grow this channel to hundreds of thousands of subscribers was pulling on that decade plus of experience but if you don't have that experience the traffic-based business model is where you can actually start earning income through ad Revenue while you go through the process of finding the keywords that people are looking for researching the answers that they ultimately want and Publishing the content that's going to help them get what they want and when you do this dozens of times and hundreds of times over in your specific Niche what you end up with is ultimately you know more than 98% of people in the world in that one specific Niche subject so the act of creating three four 500 blog posts over the next three to five years makes you into the expert and at that point you can begin to shift over into the conversion side of the game and as I said in the beginning I started on the traffic side my wife started on the traffic side and we bridged the Gap over to this other side because when we started making money online we were both fresh out of college we didn't have a bunch of skills it wasn't until I had that six years of full-time experience online that I could actually leverage all of my past skills and experience to create content to grow my business much more quickly um and then it's folks who are afraid of selling now I I had this back in the day I was afraid of selling I didn't understand at that point in time that selling Done Right is when you actually help people get what they want now that I understand it I love helping you get what you want so why I love selling it's it's a very positive thing when it's done ethically and morally which is kind of how I bring everything I bring to this YouTube channel here but some folks are just like man I am I am allergic to selling I don't want nothing to do with selling and this is where creating a traffic based business can be wonderful because all you're doing is you're informing people or you're entertaining people you're just helping them make the right decision you're laying out all the different factors you're laying out all of the different steps you're taking time to do the research for them them so when they go Google they find your blog post on top of Google when they're searching for their answer and you've already laid out the answer you're not trying to sell them on which one's best you're showing them the top three options for their for their unique situation excuse me and ultimately the law of large numbers works from that point on or you're just putting step-by-step how-to tutorials and you're showing advertisements on that page and you're earning income every time one of those advertisements show up so those are the the folks who will do really well in a traffic based business and it's a wonderful skill to learn my ability to drive traffic from YouTube I drive traffic from blogging I drive traffic from social media and I drive traffic from advertising all at the same time right as I've progressed from traffic only to conversion based with the ads as well I now have a more Diversified business that is securing my lifestyle Freedom guaranteeing that I'm not going to have to go back and get a day job because that's one of the things that you never want to do once you bridge the Gap to being full-time online the thought of going back to having a day job is is like the Ultimate Nightmare uh scenario so what you do is you diversify your traffic sources you diversify your income sources you build a big email list that you own and control and at that point in time you have a lot more um comfort in letting go of the consistent paycheck from the day job there so on the conversion side of the business who is that business for well for experts and coaches people who have been already creating results results for companies or for individuals I already mentioned the weight loss example It's a Wonderful example someone who's been doing nutrition Consulting and fitness Consulting locally through their local Snap Fitness gym or whatever it is and they want to broaden their reach they want to build out systems that will allow them to help hundreds of clients per week instead of dozens or a handful of clients per week and they want to see that income go from 30 grand per year to 30 grand per month these folks are Prim Ed for it as well and this goes down to finance people who are great at trading people who are great at all kinds of different things if you have skills professional skills that you've been leveraging over here to help people or companies get specific results Bingo you can transition and start selling those skills very quickly and that's where you'll see a major upside another note side note here from my personal story in kind of growing this business where I am so I learned how to drive traffic with my wife's brand search engine optimization keyword research there was a period in time when I sold keyword research and search engine optimization and digital marketing services to local businesses because I had now built a skill right through doing the traffic work and I really wanted to quit my job quickly so I found a couple of clients who were willing to pay me $1,500 to $2500 per month for me to do work for them and bingo I was able to transition much more quickly and then I was like I don't really love doing this client work so that's when I learned how to make other types of offers for digital downloadable products etc etc to free s from that so my path has many many many steps on it and this is one of the challenges when you watch some of the guru webinars or some of the gurus telling you they're going to try to tell you that they have this shortcut where they figured it all out in nine months and they're going to give you the key to the shortcut but the truth is that that nin Monon series of events actually was preceded by three years of struggle which was preceded by five years of uh you know doing the wrong thing in the wrong ways and when you realize that everyone who is successful online brings a you know a a history of skill building of experimentation behind them it makes you more comfortable to put out your minimum viable blog to put out your minimum viable YouTube videos to put out your minimum viable optin page to put out your minimum viable offers because that's how we all start right humble beginnings is the truth behind all of these businesses um folks who want to build a 30 grand a month to 100 Grand a month or more business folks who have seven figure per year dreams you're going to need to figure out the game of conversions it is the scale behind it all now I have friends and acquaintances and I know people who do $30 to $100,000 per month in traffic only but there are not that many of them especially when you compare it to how many people I know selling things right the act of helping people get what they want through conversion focused businesses these folks on the conversion side often make way more more consistently than folks who just focus on the traffic side and they're more Diversified because every sale you get grows your customer list and if you're using Sal Sal funnels you're getting people to opt in before that you show them your offers which means you're growing a really big email list um folks who are just persuasive folks who love sales if you've got the Gift of Gab if you've done door-to-door sales if you've done belly-to-belly sales if you just have those skills go straight into it right the skill of copywriting the skill of conversion rate optimization the skill of writing great ads emails sales pages that sell woo that is a very very valuable skill and what you learn from from building your own business from building your own um funnels and your own offers and really kind of like practicing the game what you learn from those skills can be applied to a lot of digital businesses online so there's a potential for you to go straight into the conversion side of the business you just choose a niche I'm going to go into the guitar Niche because I'm okay at playing guitar I'm going to start to create an opt-in offer and a low ticket paid offer to sell uh basics of you know how to play the three chords around the campfire to sound like a rockstar in front of your your girlfriend while camping type course you sell a $9 course and the experience you build from that could be applied to a lot of digital businesses and when you become the uh rain maker in someone else's business by writing sales letters that convert by writing emails that convert by writing ads that convert you can easily make three grand five grand 10 grand a month or more by leveraging those skills and many of the best copywriters out there who are guns for hire they have in the past sold things on their own and they have their own pet projects that they're building to a high enough Revenue level while they still go out and offer services for other people because the truth is everybody who's trying to sell something would like to sell more of it and if you've got the copyrighting skills to help people sell more of what they've got you're in demand there's money there to be made um I think the best way for you to start on the conversion side of the business if that's what you want to do is $ five dollar a day in Facebook ads run it to an opt-in page then $5 a day in Facebook ads running direct to an offer when you show people your opt-in page you can show the offer after as a one-time offer but you also want to test it direct to sales page I'm talking five bucks a day you will start driving traffic now how long is it going to take for you to get a thousand clicks so you can have really good data I don't know a week two weeks whatever you've got patience you should be working on those next offers while you're letting all of that data ACR but I want you to see instead of like actually cranking the machine right video after video after video after after video after video to build up your traffic side of the business you can just go create a really good offer and spend five bucks a day and go measure what works you can spend five bucks a day the next day measure what works and you can find a path to an ad optin sales letter that works and that is the fastest path to create uh runaway success in business so what skills do you need to build and the quick note about skills is this this channel that you're watching right if you're new here welcome um but I've got like 790 plus videos that teach all of these specific skills so if you ever want to go learn one of these skills that we're about to talk about just here in YouTube Type in Miles Beckler comma whatever that skill is and you will find a tutorial that teaches you how to do it so on the traffic business side of things you're going to need to learn how to do keyword research okay and this is how we figure out what people are searching for on YouTube or what people are searching for on Google so we can go create the content that they're searching for um you're going to need to master the skill of writing and or co-writing with AI okay uh it gets you to the same place which is long form useful content that answers people's questions whether you write it all yourself or whether you get really good at getting quality output out of AI is irrelevant but you're going to have to figure one of those two paths out because the deal is you got to make a lot of content and you're like M as well I'm going to do YouTube so I don't have to do any written content descriptions need content titles are content thumbnails are content content is required at every level of the game video creation or video editing are the types of content cont um in my how to get started on YouTube video series uh I'm I'm a big fan of putting your cell phone on a tripod and speaking I'm actually speaking into my cell phone right now I just literally have my cell phone on a tripod here in my office uh so like super minimum Tech you don't necessarily have to edit but if you like to edit or if you've wanted to go down that path it is a very valuable skill because our world continues to Trend more and more and more towards video so if you can get comfortable on camera explaining things if you get good at editing in way that make your videos more engaging that's a wonderful skill for you to grow your business but it could also be applied to other people's businesses because there's a lot of YouTubers out there who need some editing help let me tell you um interviewing right getting good at just interviewing other people and getting wonderful stories out of them and creating informative and informational pieces of content that you're not the expert for and this is another way that the traffic based business can really help you grow if you're not an expert because you can play the role of that that curious investigative journalist and you can go interview all of the smartest best people in your Niche to figure out how they did what they did you are growing your brand and your name by association with these highquality individuals in your Niche but you're also learning from them as you go and it's a wonderful way for you to learn to make good connections if you are a good interviewer and how do you become a good interviewer you do it you do it a lot and that's the truth with every skill right how do you big how do you build muscles you lift weights regularly it's not a onetime thing you got to do it forever right um and then search engine optimization this is the art of optimizing your content to rank well so on YouTube videos there are titles there's thumbnails there's the description content there's the internal linking that we can do between our videos there are the different playlists that we can create these are all of the tools the mechanisms that we can use to optimize our videos to rank on YouTube so we get more traffic from our videos when people search for the topics we're talking about then on the other side with blogging it's the same sort of stuff but it's just different because there's no video component but it's the headings the H2S the titles the descriptions the keyword count inside of your content etc etc so these are the core skills that you would build on the path to growing one of those traffic based businesses and this is why it just takes three to five years to build a real business online is because there's a lot of little skills that you have to build either way now on the other side on the actual conversion based business side of things uh the skill of copywriting which is essentially persuasion in print it's salesmanship in the written word obviously people can do video sales letters but writing out a sales letter writing out an opt-in page just with written text is the fastest and easiest way for you to test your ideas to test your skills to build your skill of conversion based copywriting getting into that world of direct response marketing um you got to get good at helping people if you're over here on the conversion side of the game it's one thing to sell people on your product but it's a whole another thing to actually help them get what they want and there's a lot of gurus out there who can make really big promises they they lie often in their marketing unfortunately it's kind of shady um and they'll make a bunch of money and then you get into the course and it's not what they promise it's not all there it doesn't match it doesn't work and they have huge refund rates and some of these people actually get shut down by the government um there's been a lot of people who've walked across the uh clickfunnels uh to comma Club stage who are now in jail or they've been sued by the federal Trade Commission unfortunately this is one of those weird sides of this industry that I work within somehow like lying in marketing has actually become uh normalized in a very very weird way as long as you're doing it for greedy purposes to walk across the the clickfunnels uh to comma Club stage I don't believe in that I think you actually have to help people get the results that they want you have to actually get good at helping people get results which is why I mentioned that on this conversion side of the business like if you've been doing Fitness Consulting nutrition Consulting weight loss Consulting for people for six years and you have a great track record of actually helping people lose weight Bingo you already crossed that off the list right now all you got to figure out how to do is like how to package that up in the digital world and how to sell it okay but if you don't have those skills you're going to need to learn how to actually help people get results how do you do that often it's just working with people oneon-one it's finding scenarios in your local community where you can start to jump in and help people you got to help yourself right be your own best testimonial if you're going to go teach people how to lose weight and you got a weight loss story where you went from being 240 down to 175 and ripped that story is your first proof that you can do what you say but if you're saying you're going to help people lose weight and you're 320 PBS like no you gota you got to actually prove that you can help people lose weight and start with yourself type scenario same thing is true making money online right I didn't make my first video in this space until 2016 because I had actually proved that I really knew everything about making money online and there's a lot of people who jump into the make money online Niche and they've never built a real business they don't have a niche business all they're doing is regurgitating and reselling other Guru courses like it's some weird MLM thing and they're not actually good at helping people get the results eventually those people burn out and they go back to their desk jobs because it doesn't work eventually so you really actually do have to get good at helping people get results that's often done through experience which is why kind of experience is of those components over here final idea here before I let you go and thank you for being with me if you're still with me give me a thumbs up and write 1% in the comments I like to know who the 1centers are because truth is 99% of people give up they look at this stuff they think it's easy I come spitting truth on a video like this and they just disappear they can't handle the real truth so if you're still here with me you are a 1center i acknowledge you and I honor that the last idea is this crossover Theory right a ven diagram has two circles and in theid middle of those two circles is the overlap that's email marketing you can start a traffic based business you can go all in on creating massive amounts of traffic on a Blog on a podcast on a YouTube channel on social media and you got that wave of momentum going then what do you do you start to offer a lead magnet in exchange for the email address now if you want to see one of these in action you can go to Miles becker.com free this is my affiliate marketing crash course which I've given away on many of my videos about affiliate marketing that rank really really well okay so someone's on YouTube they search for how to do affiliate marketing they find my deep dive video that promotes that exact landing page and like wow finally I have found somebody who lays out the entire path for me for free he's not pitching some 1997 Guru hyped up course that's full of lies he's actually going to give me the results and the things I want for free that's my lead magnet so I was able to go from having a traffic based business only then I started growing email list and now in the new year I have a new office hours um product coming out where people is a group group coaching program where people will be able to get kind of my input on their funnels you'll be able to get my input on your ads on your sales Pages etc etc I've got a bunch of mini products like my $9 Niche Navigator video course like my offer Recon video course that teaches you how to go find the highest converting highest commission affiliate offers in any Niche out there um so there's multiple ways to monetize an email list once you grow it and if you're over here on the conversion side there is a world called uh CPA cost per acquisition where Affiliates are essentially just direct linking people over to affiliate offers some people make money with this but if you're not building your email list you put yourself in that situation that I was in where your income could go down to zero so I always recommend even if you're an affiliate on a conversion side business what you want to do is you want to link people to an opt-in page and then you make your offer on the next page it's a bridge page on the thank you page on the one time offer page and ultimately you're going to make almost all of your money from those future emails that you'll send out to the list over time so both of these business models need that email marketing component in the middle that email marketing component is your asset that's the one source of traffic that no one can ever take away from you and if you aren't building your list you need to be starting to think about how can I grow my list more in the coming years because that's the one way you're going to be able to safeguard your long-term success your long-term cash flow your business your asset you can Safeguard everything when you grow a list of people who know you like you and trust you and it doesn't matter if you start with a traffic based business and then you grow your email list or if you go straight to a conversion based business and that's how you grow your email list the real key to the game to making lifechanging income that you can count on for decades is to grow your list that's at the center of both of these businesses that's the truth I hope this has been helpful thank you very much for your time I look forward to connecting with you in the comments any questions let me know in the comments and I look forward to connecting with you on the next video Until then be well
The Best Online Business For 2024 Revealed
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