There's no reason why you can't incorporate several of these different income opportunities into your business model. The key is to focus on one, maximize revenue from it and then move on to the next.
Of course, this choice should be made with extra consideration to your budget. If, like most small-business people, you have a limited budget, you'll want to focus on revenue streams (like selling products or recommending affiliate products) that will produce results quickly. A good place for you to start might be:
The Sales Model
When most people think about taking a small business online, they go straight to the sales model. That's because it's fairly straight-forward and your source of income is obvious. You function as an online merchant, and every time you make a sale, you earn a profit. The more sales you make, the bigger your profits grow.
But the really great thing about the sales model is that once you have your main revenue stream running smoothly, you can add every single other profit stream I mentioned above in order to diversify your income and explode your profits! For example, let's say you run a small business that manufactures garden tools. When you set up your sales site, you can sell your own product (garden tools), earning the largest profit margin. This should be your main source of income, so make sure you focus on this first.
