I have learned about two different ways (of many) that a business could run which are drop shipping and affiliate marketing. I had never realized there was a way to market and sell merchandise, but not actually have to hold your own inventory. Through drop shipping, you can have a customer purchase an item and then another company you work with will ship them the item. They keep their own inventory and are in charge of delivery. Affiliate marketing is very interesting because at a glance it seems like an easy solution. You can market items online, give links, and then make a profit off of the traffic you drive to an outsourced website when they make a purchase. The concept is ideal for those who are very creative, create new content regularly, and are very successfully at driving high volumes of traffic to their website. I have recently made a friend who has created a very successful crafting blog over the years and who makes money off of affiliate links. This method of business is profitable for her because of the time, dedication, and ability she has to maintain high volumes of traffic. This route of business does have the potential to take off if you have the passion.
For my project this semester I will not be drop shipping or using affiliate marketing. However, I have learned some valuable knowledge to be able to understand the marketing world and how other business models run.