This is the complete guide to finding a profitable business idea so that you can have more freedom and flexibility in your life and finally quit your 9-5. In this all-new guide, you will learn: The top ten online businesses to start this year Examples of successful online businesses How I built a 6-figure business in 4 months How to start your own online business And so much more If you want to start your own business, you'll love today's guide. Let's get started. Chapters: The best online businesses to start in 2023 The pros and cons of different online businesses - What online business should you start and why? Why starting a service-based business will help you get started right away (and take a detour to success) - Including the top 10 online businesses to start Why online courses are the most profitable online business What is the best online business to start in 2023? What goes into successful online businesses? Over the past five years, I’ve helped thousands of people start their own businesses. Here, I’m sharing with you what I always tell them about starting an online business. You see, it’s not random. There are business models that require less of your time and are more profitable than others. With this in mind, several of my students have gone on to grow six-figure businesses that have allowed them to quit their jobs. Here's what a few of my students have been able to achieve with the RIGHT online business models. I got started in the same way. When I first started my business, I had a great career with a six-figure salary. At the same time, I wanted to build a business to replace my job. Just like you’re probably doing right now, I went online to do some research. What was the best business to start? Which type of business would allow me to quit my job without requiring me to downsize? I eventually found the right business to start. Within four months of getting started, I had achieved that six-figure milestone, which made it possible for me to securely quit my job. My first-year income back when I started my business. And I couldn’t have done it without the right business model. Want to know what it is? Read on! Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom? Get Instant Access To My FREE Ultimate Guide Below! GET INSTANT ACCESS When you sign up, you’ll also receive regular updates on building a successful online business. What kind of online business is most profitable? Look: You don’t need to start the next Google or Facebook to be successful. Startups require you to raise venture capital, sacrifice years of your life and take huge risks that most of the time don’t pay off. Instead, there are plenty of online businesses you can start that are secure, easy to manage, and profitable. The best part? You can start your business from your living room AND quit your 9-5 in the next few months. Different online business models What different online businesses are there? And which business model should you choose? Let’s take a closer look. 1) Sell someone else’s product The first online business model is to sell someone else’s product. You can be an affiliate for a product and earn a commission every time you sell a product. You can be part of a multi-level marketing network (MLM) where you earn a commission on customers and new MLMs that you refer to your MLM business. Or you can be a dropshipper and sell products straight from a manufacturer to consumers. While these might sound like easy online businesses to start, they’re not. Yes, it’s easy to get started and find an affiliate product, an MLM company or a manufacturer that offers dropshipping. But the sad truth is that you won’t make much money. If you look at things like affiliate programs, you’ll quickly realize that you need a big audience to sell them. And that takes time to grow because you first have to learn all there is to know about sales and marketing. Even worse, you’re not in control of your business. If your affiliate company, MLM or manufacturer goes out of business, so does your business. 2) Sell your own physical products The next online business model is to sell your own physical products. An ecommerce shop sounds easy. You find products, sell them and turn a profit. But it’s easier said than done. You need to create your product, source it, store inventory, deliver orders… Not to mention get traffic to your site (with average conversion rates of 1-2%). Your products most likely won’t have a great profit margin when you add up all these expenses. Unless you already have experience running an ecommerce store, this isn’t the best business model to get started. 3) Sell a service That leads us to the next online business model, selling a service like coaching or consulting. Coaching means that you take your time and help people get specific results. I can’t even remember exactly how I first heard about coaching. I must have stumbled on someone online who was a coach and who was selling their services for thousands of dollars. I remember thinking, “What is this? Is this a real business?” So, I became obsessed by figuring it out. I googled coaching and studied successful, legitimate coaches who had been around for a while. That’s when I realized this was the business model I was looking for. I did the math and it all added up. If I would sell coaching at $2,000 and make five sales in a month, I would make $10,000. That felt doable. I could find five people every month and offer them my services. Plus, I wouldn’t have to worry about things like customer support or setting up a complicated business. Instead, this business model allowed me to go out there and start getting clients despite my busy life. After all, I didn’t need to get thousands of people to buy from me, only five. Not only that, coaching seemed like a great business model because of the impact I could have. I’m an introvert and prefer to form deeper connections with people. Coaching allowed me to build meaningful relationships and help people get results, rather than selling to a faceless crowd of people. That’s why a service business is one of the best online businesses to start. Your overhead is low, your profit margins are high, you can get started right away, and you have a lot of impact. And so I always recommend my students to get started with this business model. It’s how I made more than six figures in my first four months in business. And it’s how hundreds of my students have created their own businesses and quit their jobs for a business that gives them more impact and flexibility. I built a 6-figure business in 4 months. It was possible with the right online business model. You can (and should) get started with something you already know. If you’re thinking, “I don’t have a skill people would pay me for,” read on. In the next chapter, we’ll look at how to find your skill (because you do have one!). 4) Sell digital courses The fourth online business model is to sell digital courses or self-study courses. This is the most profitable and scalable online business. Once you’ve created your course, you can use it as an asset that makes you money for years to come. You don’t have to pay for inventory or shipping. Plus, if you sell a premium-priced course, you can build a highly profitable business. But there’s one downside. It takes time to create your course when you first set up your business and it takes time to grow your audience. If you’re selling a course at $200 and want to make $10,000 a month, you need to make 50 sales every month. With an email list (which you need to sell your courses), you can expect to convert 1%. So you would need 5,000 new people in your email list every single month. And building that type of momentum can take a long time. That’s why a course business isn’t the best place to start. Instead, I recommend that you start with a service business and then transitioning into a digital course business. The best part? By first helping people one-on-one, you get a lot of valuable insights on how to create your course so that it sells. How to start an online business from home Now you know why a service-based business is one of the best online businesses to start. Your services can be sold at a premium price and you can get started now. But how do you start one? Here below, we look at how to start a coaching, consulting, or freelancing business. You also get the best business ideas that you can start today. How to replace your income with coaching and consulting You now know why coaching and consulting are the best online businesses to start. But how do you start your own coaching or consulting business? As a coach or consultant, you sell your experience and expertise by giving advice and supporting your clients. Your clients want the results you already have or have helped others get. That’s why they’re happy to pay premium prices for your time. Coaching and consulting are also low-risk strategies for learning all about building a business. You can do it on the side until you’ve built up an income buffer. Within a few months, you could be well on your way to quitting your job. What type of coaching or consulting can you do? If you’re thinking, “I’m not sure I’m qualified to be a coach or a consultant”, think again. To be a coach or a consultant, you need one thing: Results. You need to have gotten and/or helped others get results. If you want to become a weight loss coach, you need to have lost weight yourself or helped others do it. As a career coach, you need to have built your own successful career or worked in a position where you’ve helped others do it. But other than results, you don’t need certifications, years of experience, or other merits. As long as you can show your future clients that you can help THEM get results, you’re qualified to be a coach or consultant. Pricing What can you earn as a coach or consultant? This is one of the main reasons coaching and consulting are great businesses to start when you’re still in your 9-5. I usually recommend my students to start at $1,500 for a 3-month coaching package. With just three of these packages, you would already make $4,500. As you get more experienced as a coach or consultant, you can start charging more and make more in your business. Growing your business fast Another reason for starting your coaching or consulting business is that you can grow your service-based business fast. By being systematic and going to where your clients are already hanging out online, you can quickly grow a profitable business. That could be LinkedIn, Facebook, Reddit, or any other social network. It could be a blog or a podcast. Read more about getting clients here. The important thing is: Start with building relationships instead of trying to sell people. When I first started out, I wasn’t focused on trying to sell to everyone. That mentality would not have attracted a lot of clients. Instead, I was focused on answering questions. Because of that, my business grew much faster than it would have if I had been busy promoting myself. I went into Facebook groups and I answered questions about advertising, setting up campaigns, and so forth. Then I offered free coaching sessions, which got me testimonials and people saying, “This girl Luisa really knows what she’s talking about.” Eventually, more and more people got interested in how I could help them. The thing is: As long as you can help others get a specific result, you can be a coach or a consultant. In case you don’t think that’s you, there’s a third service-business model you can get started with. Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom? Get Instant Access To My FREE Ultimate Guide Below! GET INSTANT ACCESS When you sign up, you’ll also receive regular updates on building a successful online business. Don’t think you can coach or consult? Become a freelancer If you feel like you’re not quite ready to coach or consult, there’s a third option: Freelancing or done-for-you work. The difference between freelancing and coaching and consulting is that as a freelancer, your clients outsource work to you. As a coach or a consultant, you give advice and guidance, but don’t do the actual work yourself. The barrier to entry is low because as a freelancer, you can take pretty much any skill you have and turn it into a freelancing business. Maybe there’s something you’re already doing at your job, like graphic design or data entry. Use that to start freelancing. Other ideas include: Virtual assistant. Writer. Software or app developer. Social media manager. Customer care representative. Editor. Translator. Project manager. PR manager. Ads manager. Video editor. Photographer. What can you charge? Freelancing does come with one caveat. Unless you offer a specialized skill, like software development or web design, your income potential will be limited. For example, as a virtual assistant, you can expect to earn around $30/hour. That’s unless you can offer other, sought-after skills, like tech skills. That said, surveys point to the fact that freelancers outearn employees. A freelance service business is still a great place to start when you want to build a business to leave your 9-5. The 10 best online businesses to start today Wondering what type of online business you can start as a coach or consultant? Here are some of the best online business ideas for beginners. What idea is right for you? Before you read the list of ideas, let’s look at the idea you should pursue. You see, it depends on your experiences and expertise. In my case, my first coaching business was a career coaching business. I looked around at different coaching ideas and thought, “What can I do?” I took an inventory of my skills and I realized that people were asking me about my career. At that point, I had transitioned from financial services to a digital advertising tech startup while getting a raise, negotiating a six-figure salary, and being promoted to manage a team of seven people. Because I got so many people asking me to help them with their careers, I realized that it was something I could coach them on. So I reached out to some of the people who had asked for my advice and said, “I’m doing a one-on-one coaching program on this. You’ve asked me about this and I’d love to coach you more officially. Would you be interested?” A few of them said yes and I got started as a coach. I realized that coaching was possible. But at the same time, while I enjoyed building my business, career coaching wasn’t the topic I wanted to be talking about indefinitely. In a few years, my coaching clients would be where I was at that point, looking for something that would give them more freedom. I had to go back to the drawing board and figure out what I actually wanted to do. That’s when I happened to see a few posts in Facebook groups. You see, at the time, Facebook groups were getting big. And some of them were watering holes for entrepreneurs (as they still are today). I realized that in these groups, people were asking about digital advertising, which was exactly what I did in my day job. I thought, “Wow, I can coach on this.” So that’s what I started doing. Within a few months, I had grown my coaching business to six figures in four months… And was able to finally quit my day job. How to choose your idea First, think about your skills. What skills have you acquired in your career? In your spare time? If nothing comes up for you, think about what your friends always say you’re great at. Maybe they’re even asking for your advice on that thing. Alternatively, what’s something you love doing? Something you love talking about and helping others with? Once you have a skill figured out, think about the results you have gotten with this skill. Maybe your results aren’t huge, but they have transformed your own or someone else’s life for the better. The most important thing is this: Follow the need. To build a business, people must need your service. So go out there, see what people are asking questions about, what they’re willing to pay for and how that overlaps with your own skills. The 10 best business ideas What are some great coaching business ideas? Here are 10 online business ideas that others have started based on their experiences and skills. Look through this list and ask yourself: What type of business can YOU start? 1. Financial coaching A great coaching business? Financial coaching, so helping clients manage their personal finance. You can help people manage, save, or make more money. For example, my client Lucy used real estate investing to create a $10K/month income stream. She was able to quit her 6-figure job to spend more time with her family. Now she helps others learn how to invest in real estate. Read my guide here on how to start a financial coaching business. 2. Energy coaching Energy coaches work with their clients to shift their thoughts and feelings to help them improve their lives. That’s exactly what my client Estelle does. With a Ph.D., Estelle’s background is in academia. Today, she teaches sensitive people how to align with their soul’s highest nature and bring their magic into the world. 3. Relationship coaching Plenty of people are looking for help to find and build better relationships. That’s why relationship coaches are in demand. My client Ruby built a career in the industry before she started helping people as a coach. Today, she’s built a six-figure business as a relationship coach. 4. Career coaching Career coaches help their clients find better jobs. As a career coach, Toni uses the experiences and skills she has learned in her successful career as a lawyer to help women advance their careers. 5. Coach for immigrants People need coaching for a lot of different reasons. One of them is advancing faster in a new country. That’s what my client Li does. She uses her experience as an immigrant to help other US immigrants succeed. 6. Health coaching When David had a family member with a life-threatening illness, he used all his knowledge of herbs to help his family member get well. He’s also used his methodology to lose weight. Today, he uses that knowledge to help his clients get healthy with the help of herbs. 7. Coach for small retailers My client Nichole is a pro at driving retail sales and her impressive resume includes 30 years of retail experience and having worked for some big retailers, including Forever21. She initially wanted to start her own shop, but ended up opting for coaching. Now, Nichole has taken her skills in Visual Merchandising and Business Analysis into her own business to help women-owned clothing boutiques increase their sales. By using her skills and experience, she can help store owners increase sales by 50%+ with store layout. 8. Speaking coach Sunny, one of my clients, is a speaking coach. She’s an Emmy award-winning broadcast journalist and uses the skills she has acquired through her work to help others speak more effectively. 9. Real estate coaching My client Lucy left her six-figure job to spend more time with her family. Her secret? She had built up a real estate portfolio that generates around $10K/month in income. Now, she uses her experience to help others build their own real estate portfolios and income. 10. Mindset coaching A mindset coach helps people untangle their mindset blocks and reach their goals faster. That’s exactly what my client Jacquelynn helps her clients with. She has herself used the power of mindset to first earn six figures in her day job and then leave it to be able to work full-time on her business, as well as get out of $150K of debt. Want to Build a 6-Figure Coaching Business So You Can Achieve More Freedom? Get Instant Access To My FREE Ultimate Guide Below! GET INSTANT ACCESS When you sign up, you’ll also receive regular updates on building a successful online business. Why online courses are the most profitable online business Once I my own coaching business had passed the 6-figure mark, I started looking around. My schedule was packed and I couldn’t take on that many new clients, even if I increased my rates. Still, I wanted to continue growing my business. That’s when it hit me: A coaching business is a great place to start. But it doesn’t scale that well. Once you’re at this point, there’s an alternative business model that does scale. You take your expertise, package it up and sell it as a self-study course. This way, you open up your services to a completely new market: People who want to learn from you, but who don’t want to take on a coach. As a business model, online courses offer great perks: You create them once and sell them for years to come without having to use more money on the production of your course. Your profitability increases every time you sell a course. They’re easy to scale because they are automatically delivered to your customers. You can sell them where and when you want. They’re a great way to grow your impact. You can reach thousands of people with your courses and help them improve their lives. How to build your course How do you build an online course? That’s the tricky part about online courses (and why I don’t recommend that you start selling them upfront). They take time to build. But, at this point, you’ve already worked with private clients for weeks and maybe even months. You know their deepest fears, dreams, wants, and needs. You know how to help them get results because you’ve already walked people through this. And so you know that your online course will do great. You create a course based on the processes and systems you’ve set up in your coaching, consulting, or freelancing business. If you build a service-based business first, you essentially get paid to do market research and ensure your audience will want your course and that they’ll get results. The best part? You don’t even have to do a beta launch or anything like that to get testimonials. Why? Because you’ve already helped your private coaching clients get results so you can ask them for testimonials. Before you’ve even launched your course, you have testimonials lined up. This will help new students see exactly how valuable your course is and why they should buy it to get results. Digital course ideas Wondering what your course should be about? Good news: Pretty much anything, as long as people are willing to pay for it. There are online courses that teach people languages, to play instruments, do sports, knit, watercolor, and build tiny houses. Not to mention mindset, marketing, personal finance, healthy eating, and finding a job. Want real-life examples? Here are some of my clients and friends who are crushing it with their courses. 1. Finding a job Adunola is a career coach who helps her clients land a new job that they will love. She does this with her 12-week program, careerREDEFINED. 2. Helping immigrants succeed Li helps her clients achieve success in their new home countries with her program, The Wealthy Immigrant. 3. Energy work Estelle’s course, Activate Your Magic, helps turn sensitive people into channels of light. 4. Dating Ruby is a dating coach for men. Her course, The Dating Starter Pack, helps men get dates. 5. Weight loss with spices My friend Nagina teaches students how to lose weight effectively with the help of spices. Her methodology builds on her own, as well as her clients’ experiences and results. 6. College admissions Julie Kim helps her students get accepted into Ivy League colleges with her college admissions online course, Ivy League/Top-Tier Bootcamp. Want to start your own business? There you have it. These are the best online businesses to start. What it comes down to is being strategic about the business model you choose so that it’s as profitable and easy to manage as possible. That’s how you will grow a business fast, be able to quit your job and create more impact and flexibility in your life. Now, I’d love to hear from you: What business are you going to start? Let me know in the comments below.

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Wondering how to start a clothing business? Here are the steps needed for starting a clothing business with wholesale, print on demand, or launching your own clothing line. Starting a clothing business is one of the best business ideas in 2021. The industry has been on the rise, with the sector currently worth more than 102.5 billion dollars, with predictions of it growing to more than $150 billion by 2024! Whether you want to start your own fashion brand or become an entrepreneur with a retail space, there are many ways you can get started with your own clothing business. So

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The next in my ‘How to Start a Fashion Brand’ looks at the importance of planning. Do you need a business plan? Perhaps not, but there’s still ways you can outline your business strategy to improve your chances of success.

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Have you wondered how people start online businesses and make them sustainable and successful over the long haul? It’s a concern that most people who are just starting their entrepreneurial journey have…and I totally get it. It can be confusing with the way the landscape of business ownership is constantly changing. Because I can look back now and clearly see what it took for me to get to where I am today, I want to take a little time and talk about the various online business models you can use to make your business idea a reality. Each model is pretty different and, based on your personality, how much you want to work each week, and how much person-to-person interaction you want to have, you’ll probably find that you gravitate to one model more than the others. With this, let’s get into today’s content! Jump straight to the business models here... What is an online business model? A business model explains how businesses create and deliver value. Over the years, internet business models (business models that are specific to the online world) have popped up and increased in popularity. You see, an online business is a business that you operate online and that either serves a business-to-consumer (B2C) or a business-to-business (B2B) market. There are different types of online businesses – from service-based businesses to physical products, affiliate marketing, and digital products. Online business ventures tend to come with several benefits, such as relatively low startup costs and high-profit margins. Some of them even make it possible to generate passive income. And as they’re online, they’re flexible, too, so that you can manage them from anywhere in the world. Growing an internet business comes down to the right business strategy as you can use scalable internet marketing strategies like search engine optimization or paid traffic. In this short video, I share how you can start a business online, even if you don’t have an entrepreneurial background: The first step to starting an online business is clear: Choose the right type of business. Here are the most profitable online business models. Let’s take a look! What are the most successful online business models? Below are 14 proven and popular online business models you can use to start an online business that helps you serve your niche with integrity and create the life of your dreams, today. But which one is best for YOU? While this depends on your goals, this list is organized according to those businesses that are the easiest to start for new entrepreneurs. I also talk about choosing a business model, so make sure you take a look after you’ve gone through all the businesses: Without further ado, here are the best online business models ranked: Business model #1: Freelancing The first business model I want to discuss is a service-based business that is popular with people who have very specific skills – freelancing. Freelancing is simply a type of work where you offer your services to people or businesses that need them. And it’s an in-demand career choice. 34% of US workers, or 53 million people, now freelance. Some popular freelancing careers include writing, graphic design, website development/design, and other service-based fields. If you’re really good at what you do, you could find yourself making money in only a few days after starting this self-employed career path. If you’re looking for quick income, you’ll have a tough time finding work that’s simpler and easier to get up and running online than this one. Essentially, you can take tasks you perform at work (be it social media management, writing, or even Excel skills) and start freelancing right away. You don’t even need your own website because you can go to niche-specific forums and freelancing websites like Upwork to create a profile. But you’ll want to get away from sites like these as quickly as you can, though, because a fair amount of the clients on these sites bid for work based on price alone. The last thing you want to do is spend the majority of your new career working for pennies! Other options for finding clients include promoting your services on LinkedIn, being part of industry-relevant online forums, and sharing your services with your network. Advantages of freelance businesses The advantages of freelancing are clear. You can start a freelancing business with little experience in building a business. (You do need experience in the field you’re freelancing in, though.) The startup costs are low, as are the barriers to entry. Disadvantages of freelance businesses Be fairly warned: Freelancing requires effort. It’s still work – even though you’re working for yourself. And you’re going to want to stay on top of your skills by either being active in some kind of peer-related group or attending industry-specific events during the year. How to start a freelance business How do you ultimately start a freelance business? The easiest way to get started is to sign up for a platform like Upwork or tap into your network. Your old employers, friends, and family are all potential clients. To learn more, this in-depth guide on freelancing can help you get started. Business model #2: Coaching / consulting The coaching/consulting space is where I decided to jump in when I was starting my own online business while still in my 9-5. As a service-based business, it’s a lot like freelancing. The main difference, however, is that as a coach or a consultant, you don’t offer done-for-you services. Instead, your work is to provide actionable advice to your clients. You’re not doing the actual work for them; you’re telling them what they need to do or how they need to be thinking about their life or their business. Because of how much value you’ll be bringing to the table, coaching/consulting is one of the fastest ways to build an online business that will replace your corporate income and allow you to leave your 9-5. If you have specialized knowledge that can help people or businesses be more effective in a specific area or areas, coaching or consulting might just be for you. Coaching tends to pay more because of how specialized and valuable your knowledge base has to be. There are coaches and consultants in just about every niche. There are… Financial coaches/consultants… Tax coaches/consultants… Interior design consultants… Marketing coaches/consultants… Marriage coaches/consultants… Copywriting coaches/consultants… …and the list goes on and on. If what you know can help individuals or companies grow and do whatever they do better, you might be a great fit for coaching or consultancy. Get the Ultimate Guide for building a 6-Figure Coaching Business so you can achieve more freedom! Get Instant Access The reason this is one of the easiest businesses to start is that you can build a very profitable business without having to invest a lot. If you’re in a 9-5 and new to business, that’s a pretty attractive reason to start with coaching. Think about it: If you charge $1,500 for a coaching package, you need just a few to replace your salary and quit your 9-5. Plus, you only need your existing skills to get started. And those are skills you might have learned in your day job or on your own. (Think career coaching or health coaching.) You don’t even need a website. That’s right, you can get started with your laptop and an internet connection. Most people won’t care if you have a website or not (what they care about are the results you help them get). But even if they ask to see one, you can always send them to your LinkedIn profile. Advantages of a coaching business A service-based business is an online business model that’s easy to start because you can draw on your experience in your job or other skills you have to give other people advice on how to achieve results. Startup costs are low and you can turn a profit fairly fast so that you can replace your salary and go full-time in your business. What’s more, this is a high-impact business because you’re working one-on-one with your clients, helping them achieve their biggest goals. Disadvantages of a coaching business As such, a coaching business isn’t scalable. You need to turn to another business model, such as group programs or online courses to scale your business after you’ve filled your business with private clients. How to start a coaching/consulting business The best marketing model for new coaches is to tap into your network, spread your expertise on podcasts or on a platform like LinkedIn, or join existing communities on social media. However, for the specific steps to get started, check out my guide on how to start a coaching business. Alternatively, watch this quick video where I share how you can start your coaching business in the next 24 hours (yes, it can be that simple): Business model #3: Group programs Another business model that lots of solo entrepreneurs gravitate to is group programs. In the groups programs model, you’re doing coaching or consulting, but you’re doing it in a group setting. The beauty of this kind of business model is that the group, while relying on you for your expertise, also feeds off of the strengths of the other members. Their participation is just as important as yours and creates a beautiful dynamic between members when it’s properly managed. Just like with coaching and consulting, group programs can happen in nearly any niche. They can take a lot of time and patience to create, build, and grow, but group programs can pay you really well once you figure out your pricing structure and how often you want to run new groups. Also, group coaching is relatively difficult to start from scratch unless you have proof that your coaching works. You need to build relationships with more people than you’d need to if you sell individual coaching. That’s why it’s a good idea to first start a one-on-one coaching/consulting business. Once you’re at the level where you can’t take on more private clients, you can switch to group coaching and scale your offers. Advantages of group programs Group programs are scalable and highly profitable. For instance, if you sell packages at $3,000, you only need to sell three packages to make six figures a year. Because you don’t have a lot of costs, your profit margins will be high. Disadvantages of group programs This internet business model is fairly difficult to set up as a new entrepreneur unless you have an existing audience. How to start a group program business If you have an existing audience, you can market your group program directly to them. Otherwise, I recommend using the same marketing model as you’d use when building a coaching business. To start a group program business, take a look at my guide on group coaching. #4: Agency The agency model is a more scalable form of freelancing. However, instead of doing the work yourself, you’re outsourcing it to your team. You can take your agency to multiple six figures, seven figures, and beyond. You don’t need much to start an agency. But it takes plenty of experience to run an agency that offers real value to its customers. First of all, if you do it in the wrong way, your profit margins will be low. That’s because agencies are people-focused businesses and your biggest cost will be your team. Second, unless you have a good amount of experience, you just won’t be able to offer the level of results you need for long-term success. That’s why a freelancing business or a coaching/consulting business are better starting points for new entrepreneurs. Plus, these online business models have fewer startup costs. Once you’re at the level where you’ve filled your pipeline with clients, you can turn your business into a more scalable agency model. Advantages of an agency business An agency business is a scalable business that can be profitable if you build it in the right way. The barrier to entry isn’t too steep, so it’s a good business model for people who already have experience in freelancing, coaching, or consulting. Disadvantages of an agency business Agency businesses can also be highly unprofitable and become incredibly time-consuming. To avoid any of these, it’s so important that you have initial experience in building another business. How to start an agency The best way to start an agency business is to tap into your existing network, audience, or pool of clients. There are obviously ways to scale your business but those are the most high-impact strategies with the highest return in the shortest amount of time. For all the steps that go into building an agency, take a look at this in-depth guide on starting your own agency business. Business model #5: Creator / influencer The creator economy is up-and-coming with the influencer market valued at $16.4 billion. And no wonder – there are plenty of ways you could let your creativity shine on social media. Creators can make money through the YouTube partner program, from brand partnerships on Instagram or TikTok, thanks to promotions on podcasts, donations on Patreon, or subscriptions on Substack. Now, making money online through any of these platforms takes time as you first need to build up a loyal following. Without an audience of hundreds of thousands, you likely won’t be able to monetize your channel to the extent you need to build a sustainable income. But once you have one, you’re likely to have high profits because a creator business tends to have relatively low expenses. However, one big downside is that it’s a somewhat unpredictable model. As an influencer, you rely on advertisers, as well as the platform where you establish your brand. That’s why it’s a good idea to diversify your income with additional offers, such as courses. Advantages of a creator business Creator businesses have several benefits. They’re fun, creative, and can be highly profitable. You build your own brand and an audience to which you can sell different offers – from courses to physical products. Get the Ultimate Guide for building a 6-Figure Coaching Business so you can achieve more freedom! Get Instant Access Disadvantages of a creator business Creator businesses are fairly difficult to establish. Creating a personal brand is demanding and building an audience takes time. Unless you build other revenue streams, you’re dependent on brand partnerships. How to start a creator business To become an influencer, start posting consistently on one or two platforms, such as TikTok or Instagram. Brainstorm new content ideas and angles to keep yourself top-of-mind. For more steps on how to start a content creator business, take a look at this guide by Later. Business model #6: Ecommerce business Ecommerce is a $5.7 trillion market. And the ecommerce business model is a popular one. You can set up an online store using a shop builder like Shopify or create one on Etsy and start selling physical products online. What’s more, Amazon FBA offers another option to set up your own ecommerce store. There are also plenty of tools to promote your online store. You can use Kickstarter to fund your project or start driving paid advertising or traffic from search engines to grow it. That said, physical products do come with a big challenge. You see, you first have to develop a product. Then, you need to buy inventory (so that you can sell your products without having to tell customers that their orders will be significantly delayed), and last, you also need to ship your orders. All in all, ecommerce costs tend to amount to $40,000 in the first year alone. Inventory and manufacturing amount to 31.6% and shipping to 8.7%. Plus, physical products are often not high-priced products. If you make a $50 profit on your product, you need to sell 40 of them to make $2,000. So while an online store can be really popular and scalable, you might be better off starting a business with low startup costs if your goal is to build a business as fast as possible. Advantages of ecommerce businesses Physical products are highly scalable once you have a supply chain in place. If you know how to grow your business and brand, you can build a profitable online business. Amazon FBA can take away some of the challenges of setting up online stores. Disadvantages of ecommerce businesses Ecommerce is difficult to build into a sustainable business. It’s not a great business model for those just starting out because you need a lot of volume to build a business. How to start ecommerce businesses The first step in becoming a vendor online is to develop a product that fills a market need. Then, you need to find a manufacturer to produce that product. And finally, a shipping company to ship it to your customers. For the specific steps, read this guide by Shopify on how to get started in ecommerce. Business model #7: Dropshipping Dropshipping is a more flexible alternative to other ercommerce business models. A dropshipping business is one of several ecommerce business models, but instead of manufacturing a product, you send it straight to the end consumer from a third-party seller. In other words, you don’t have to incur those extra costs like manufacturing and shipping. But while the business model is attractive, dropshipping has a scammy reputation. Too many people have misused it. And unfortunately, most dropshipping products are not high-quality products, which means that you’re not really offering value to your potential customers. What’s more, dropshipping works just like ecommerce – you can only charge so much for your products and need to sell many of them to increase your revenue. With those factors in mind, this isn’t the best business model for new entrepreneurs. Advantages of dropshipping Dropshipping is a fairly “hands-off” business because if you find a good supplier, you don’t have to worry about manufacturing or shipping. Disadvantages of a dropshipping Most suppliers don’t deliver quality products. Plus, you still need to build up a robust system that offers enough revenue to make this business model profitable. How to start dropshipping First, you need to find a product that meets customer demand. Then, you need to find a dropshipper and finally, sell that product. This guide by Shopify shows you the ins and outs. Business model #8: Information products / online courses If you are great at teaching people through written, video, and/or audio format, you might consider creating and selling information products online and delivering them to your customers via an online course. With an online course, you teach a skill or strategy to your students. And they can be in very niche markets. There are digital products on topics like building tiny houses, calligraphy, and singing. The best part about an online course business is that you can build a scalable business. You see, an online course is an asset you can sell over and over again. Courses are one of the main reasons I’ve built a business that lets me work a few hours a week while helping 1000s of people start their online businesses. (You can read more about my journey here.) However, this business model takes time to build. A faster route is to first build a service-based business and then turn your coaching or consulting methodology into an online course. In this short video, I explain why I’d choose the coaching route before getting started with courses: Advantages of a course business A course business is one of the most profitable internet business models out there. You create an asset that can be sold many times over without additional costs. Disadvantages of a course business Information products take time to create and build. You need an existing audience or a good amount of traffic to build a sustainable business. How to start a course business The first thing you need to start your course business is a methodology to teach. (That’s why I actually recommend that you start coaching first and then turn your system into a course.) Then, you need to build an audience. To learn more, read my guide on how to create a profitable online course business. Business model #9: Blogging A blogging business is all about building a blog and then monetizing it in different ways. This could be through advertising, affiliate offers, or digital products – a mix of many other business models. Most blogs are niche sites that focus on specific topics, such as gardening, business, or career advice. Blogs can have high profit margins as they don’t require other costs than website-related costs. And ultimately, you can earn passive income (not that any income is truly passive, there’s always some work involved in making money online). At the same time, you need to grow your blog’s traffic. You need organic search traffic and traffic from other traffic sources (such as social media) to even start turning a profit. And that traffic takes time to build. That’s why blogging is a better business model once you’re more experienced in building website traffic. Advantages of blogging Blogging is a scalable business that you can build to a point where it runs in the background and earns money from passive income streams like affiliate offers. Disadvantages of blogging A blog takes a long time to build because you need a lot of traffic to create a profitable business. Learning how to drive traffic is a skill in itself so this is not a beginner-friendly business model. How to start blogging The first thing you need as a blogger is a niche. Then, a blog. And finally, a mix of social media and organic search engine traffic. For more steps on how to build a blog, check out this guide. Business model #10: Affiliate marketing Affiliate marketing is a $12 billion industry. It involves selling someone else’s product and getting a commission for it. Typically, you build your affiliate business through a blog, YouTube, or another social media channel. For the best results, you’ll focus on a niche market (like software or supplements). The affiliate business model can be profitable. After all, you don’t have your own products to develop, so you could even earn passive income. At the same time, it takes time to build up the traffic or following you need to make a proper income from affiliate marketing. And you first need to learn how to drive that traffic. As a result, affiliate marketing isn’t the best online business model for beginners – but it can be a great way to make money online once you know how to drive traffic to your website. Advantages of affiliate marketing Affiliate businesses can be highly profitable. This is also the most “passive” internet business. Disadvantages of affiliate marketing You need a lot of traffic to make your affiliate offers work. After all, you get a small percentage of each sale, so you need to find a good offer and build traffic to that offer. How to start affiliate marketing As an affiliate marketer, you typically build niche websites that promote your affiliate offers. First, you need to find the right offer. Then, start a website and drive traffic to that offer from search engines or even through paid traffic. This guide by Ahrefs will help you get started. Business model #11: Subscription / membership model A membership site is a model that relies on having some very specific knowledge and then having people pay you a fee to be a member. This is called the subscription model or membership model. There are plenty of variations of this model. Some provide a physical newsletter that members get every month. There may or may not be any interaction with other members. On the other hand, the feeling of community and mastery-level feedback might be the biggest selling point for certain types of memberships or subscription services. Membership sites are pretty simple to set up because you can run your business as a membership website with a forum on a WordPress website or have a Secret Group on Facebook that only paid members have access to. Whatever you decide to do, you’ll want to do a lot of research beforehand to make sure that there is a market and a need for what you want to offer. It can be a very lucrative model with as much time investment as you’re comfortable doing after you get it up and running. At the same time, a membership model is far from generating passive income. Keeping your community engaged takes a lot of effort. You might even need to hire contractors to take care of parts of your group. That’s why it isn’t the best business to get started with, simply because there is often a lot of churn involved (people subscribing and then unsubscribing after a few months). It’s a model you can add on to your existing business once you have a stable and sustainable coaching or course business. Advantages of a subscription business A subscription business can be scalable while being a relatively low-maintenance business. Disadvantages of a subscription business Subscription businesses tend to have high churn so you need to consistently get more people into your program. If you’re looking for a high-impact business model, a coaching or group program model might be better alternatives. How to start a subscription business First, you need to develop a membership program to sell. The next step is to grow traffic to that offer or promote it to your audience. Different traffic channels include social media and traffic from search engines. To learn how to grow a membership site, take a look at this guide by Kajabi. Business model #12: Online marketplace Next up: Online marketplaces. This is a rapidly growing online business model that you build to serve two sides: Vendors and buyers. Think businesses like Airbnb, Upwork, or Uber. There are different no-code tools that can help you set up a marketplace, such as Sharetribe. So, the technical side isn’t that complicated. However, marketplaces are really demanding to build. You need to first attract one side of the platform (vendors) and then get enough buyers to keep vendors on the platform. In other words, you need to know how to build two audiences – and it takes time to learn how to grow even one! Plus, it’ll take time to create a profitable business. All in all, while they can be highly lucrative once they attract enough people, marketplaces aren’t a great business for small business owners. Advantages of a marketplace Marketplace businesses are relatively new internet business models. With that, there is a lot of room for conquering different niches. And once you’ve successfully built a marketplace, you can scale it relatively easily and build a profitable business. Disadvantages of a marketplace Marketplaces are difficult to build, especially if you have no experience in building businesses, driving traffic, and growing brands. A marketplace is not a great option for new entrepreneurs, especially if you’re looking to quit your 9-5. How to start a marketplace You first need an idea and build your marketplace website, your “minimum viable product.” Then, you need to establish market-product fit – that there is a market for your idea. And finally, you’ll start promoting your marketplace. Read this guide on starting a marketplace for all the details on how to build this type of business. Business model #13: Apps Revenue from apps is estimated to grow to $613 billion by 2025, with the biggest segments being games, networking, and entertainment. In other words, app businesses are booming. That’s why it’s a popular business model used by social media platforms, app-based businesses like Uber, and gaming companies. However, as with software businesses, you need to have a programmer on the team to help you build an app. (Unless you already have those skills.) You also have to scale your app fast because your revenue will depend on small in-app purchases or a monthly fee. Learning how to grow your business takes a lot of time. You might even need funding to bring your idea to life because you won’t achieve much without critical mass. This isn’t the best online business model for new entrepreneurs. By first working on a less resource-intensive online business, you’ll be able to grow your revenue faster and ultimately, launch and grow an app. Advantages of apps Some of the biggest businesses in the world are app businesses. Apps are scalable, profitable, and can be created in diverse industries. Disadvantages of apps App businesses require both technical and business know-how. As an app entrepreneur, you absolutely will need experience from building another business. Otherwise, it’ll be very difficult to reach the scale you need to make your app successful. How to start an app To start an app business, you need an idea, after which you need to code (or hire someone to code) your app. Once you’ve launched your app, you’ll need to execute a growth plan to quickly grow your app’s user base. This post on app development gives you all the details. Business model #14: Software-as-a-service Software-as-a-service or a SaaS business model is a business created around a software product. Users then pay a monthly fee to use the software. Just think of companies like Slack or Zoom – both are SaaS businesses. Overall the software business model is one of the most profitable online business models. Your business is highly scalable and your software is an asset that you can sell many times over. But what does it take to build a SaaS business? While there are more no-code tools out there these days, you still need to have a software developer on the team. Plus, a software business takes time to build. First, you need a “minimum viable product.” Then, you need to launch it, build up a customer base, and scale your business. That’s why a SaaS business isn’t the best online business model for beginners because it’ll take time to build. Advantages of a SaaS Software businesses can be quite profitable and scalable. After all, lots of big startups and more established businesses have built their businesses with this business model. A software is a digital asset that you don’t have to tailor to every individual customer. Disadvantages of a SaaS Software businesses are one of the more advanced business models. You’ll need to develop a great SaaS and sell it – something that’s not easy to do without a lot of external funding. This business model requires investments and takes time to build into a profitable business. How to start a SaaS The biggest thing for a SaaS business is an in-demand idea that people want to pay for not just once but on an ongoing basis. You also need to develop your software and start selling it, first as an MVP and later as a full-fledged software product. Get the Ultimate Guide for building a 6-Figure Coaching Business so you can achieve more freedom! Get Instant Access This post on how to start a software business even if you have no experience is a pretty good run-through on how to build a SaaS. Over to you! There you have it! These are the best online business models. Putting it all together from start to finish is where a lot of people get tripped up…but it doesn’t have to be that way for you. Take one step at a time and start with the end in mind. Which of these online business models are you excited to start with? Let me know in the comments!

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Quand on lance un nouveau projet, il y a beaucoup de choses à faire. Entre le marketing, les finances et les taches administratives, on oublie cependant souvent l’essentiel. Aujourd’hui, je vous présente 5 choses à faire absolument quand vous lancez votre business. Ne pas attendre la perfection Quand on travaille depuis longtemps sur une …

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