Creating and managing your online business requires you to follow the same basic principals of any business - relying on sound Business Strategies. There are however, a few practices that differ or that just are unique to an online business. Here we share our views and experience with you to help you develop a more effective and profitable online business.

Creating a passive income from your IP

Many people have continually talked about creating passive income through your website.  Create e-books and sell them online.  Unfortunately there are many who have done this and are still awaiting the sales.  There is a solution however and many business owners have recognized it.

I have noticed a growing trend with website owners to capture their market with offering a range of value add products and services on an exclusive basis to “members.”  Turning your intellectual property, that which you know as an expert in your field, unto a product that can be distributed to a mass audience.

The service industry is a classic example of this.  Many businesses in the financial sector, business services and particularly the wellness industries are doing just this with a range of offerings to their members.  The best part is, if you truly offer value with your products you can charge for the privilege.  After all who minds paying $20, $30 or even $50 / month for great insight and practical information.

Two examples with current clients are where one client delivers a range of fitness & nutrition programs to her clients.  Classes are small and her earning capacity is therefore limited.  However, knowing what she does, she has developed a range of products based on her classes that can be delivered online to her members.

Another client has developed a series of training programs for SME business owners looking to improve sales performance.  The training programs have been rewritten so they can be delivered to members online.

The delivery mechanisms include articles, e-books, videos and forums.  Membership and distribution of product is all automatically delivered through the web interface.

As one of my clients said to me “I just didn’t realize that I could do all this.  I have always known what I wanted to do without realizing that it can be achieved so easily.”

If you would like to know how a membership system can not only create a passive income for you but be used to better market

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