Do you dream of working from home so that you can spend more time with your family?
Or maybe you’ve already started a business but are finding that you just replaced your 9–5 job with a 7–7 job and you’re earning less money.
Any of that sound familiar? If it does, I wrote this for you!
I help WAHMs (Work at Home Moms) with smarts to launch their businesses, built on a foundation optimized for freedom. There are hundreds of different ways you can set up your business, but not every way is created equal.
For example, the service-based business model is one of the most time-consuming foundations you can use to set up your business. When you offer a service for a set hourly rate, you are effectively selling your time.
Yes, you can outsource some of the work once your business reaches a certain size. But this model is still pretty hard to scale. How do I know? I started my entrepreneurial journey as a web designer, but quickly realized that it wasn’t getting me anywhere fast.
I found that I was working so hard for very little return. One night in particular, after I’d gone through a really challenging day, I knew that I’d had enough. So I started doing some research and learned about other types of profitable business models.
This topic completely fascinated me, and I spent hours and hours pouring over any and all information I could find about it.
Pretty quickly, I realized that there are certain business models that work better for a freedom-based lifestyle….and selling services isn’t necessarily at the top of that list.
Today, I am going to share with you two easily automated business models that you can use to create financial freedom for you and your family.
2 Easily Automated Business Solutions for Smart WAHMs
WAHMs Can Build a Marketplace
A marketplace houses lots of shops in one place — think Etsy or Not On The Highstreet. Niche marketplaces are growing in popularity now, because the technology is finally there. It’s super useful for users to come to one place and have so many choices!
Unlike a directory, in a marketplace, a user can purchase from multiple shops all in one place. The checkout is directly on the website, and then each individual shop will send their part of the order out.
There are marketplaces in tons of verticals now, as this business model is becoming so prominent. There is even a marketplace for umbrellas!
This model does require some technical ability (or partnering with someone who is good with technology), as you will need to have a backend part of the website for your vendors to log into. But once the framework is there, it can scale very, very quickly.
There is a reason why websites such as Airbnb have grown so quickly!
Check out this article from The Balance on why the marketplace business model is so successful.
Usually, you are paid 15–20% commission on every sale that is made through the website. So the amount you are able to make depends on the value of the products you’re selling. If your average order value is $200, you would make up to $40 on every sale.
Make 250 sales every 30 days and you have hit $10,000 per month!
Use Affiliate Marketing
Affiliate marketing is a very popular way to monetize the content that you’re already creating. Many bloggers insert affiliate links to products or services they recommend, and earn a percentage of the revenue if one of their readers purchases something.
It’s a popular held belief that you need to have millions of page views in order to make this business model profitable, but that’s just not the case. Once again, it really comes down to how you set it up.
I love this blog post from Start a Mom Blog about how to make four figures of affiliate income with a small blog and under 10k page views.
For example, if you are a travel blogger, you could focus on selling luxury travel. It’s totally possible to find holiday packages that offer $500 commission on every sale. By selling just 20 of these per month, you’ve made $10,000!
To find out more about the earning potential of affiliate marketing, check out these income reports from some popular WAHMs who blog. This will give you an idea of what is possible, and by studying their earliest reports, you can get a picture of what it takes to grow this solution into a profitable business model.
WAHMs Affiliate Marketing Income Reports:
- Moms Make Cents Fourth Month of Blogging — $2,126
- Making Sense of Cents October 2016 Income Report — $99,607
- Addi Ganley’s How I Made $9k from One Blog Post
- Melyssa Griffin’s Affiliate Income Report from September 2016 — $11,091
It’s not as difficult as you might think! If you love to create content then this could be the perfect automated model for your WAHMs business.
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