What Are The Best Online Business Models In 2021?

by | Apr 12, 2021

When it comes to making money online. There are a fair few options.

Each with their own pros and cons.

So even if you’re not new to this. Let me give you my 2 cents on the main ones.

Drop-Shipping/E-commerce

When most people think about making money on the internet, this is what they think of. Importing products (usually from China) and selling them at an uplifted price on Amazon, Ebay, Shopify etc.

There are a few unseen challenges with this option.

Most products are very competitive because you are often selling the exact same product in the exact same place (i.e. Amazon) as 30, 50, 100 other sellers.

Which means you’re usually competing on price, especially when drop shipping.

The margins shrink because of that reason.

Furthermore, the commissions taken by Amazon and other sites are very high, so your return rate is often single digit percentages on low cost items.

You can go down the path of developing your own products and brands, but that is risky and expensive.

Affiliate Marketing

Selling other people’s products for a commission.

This is actually how I got started. And still have a small amount of income from this stream.

But with affiliate marketing, you’re only ever making a percentage of the overall sale, even though you’re paying all of the advertising cost.

So again, the margins are relatively small.

There is also usually a lag between making a sale and being paid. As the company you’re promoting will usually pay you for the month, the month after you’ve made a sale. i.e. two months later.

And for me, the worst part has always been being at the mercy of the vendor. They can change their product or service whenever they like without warning. Which can break everything you’ve built to sell it.

Course Creation

A popular choice now is creating online courses.

Usually you will record a load of training videos and sell your course for $297 or $497, sometimes more.

It is actually a really good option.

In fact, I believe most people should do this.

BUT…

Not at first.

This is because it will take, on average, somewhere between 4 and 9 months of hard work to create a sellable online course.

And, you could spend 9 months creating that course, only to find out that it’s not really what people want and you can’t sell it.

Nightmare!

But if you stick with me to the end, I’ll show you how to create a course the easy and right way while making money as you create it.

Freelancing

Another option for making money online is freelancing.

Doing odd-jobs for people on a particular subject.

For example, website building or logo design.

This can suit some people but it’s very work intensive, and very time-for-money constrained.

i.e. You can only earn as much as time will permit.

Again, there is a lot of competition for very similar work and most freelancers will ‘bid’ for jobs on freelancing websites. Which drives down the overall return.

Not ideal.

Online Coaching

In my opinion is one of the best ways to start earning an income online by selling what you already know.

However, there are a number of pitfalls that and common mistakes that people make with online coaching. 

As with any of these business models, it can help to have additional mentorship and support which can save you countless amounts of time and money!

I’m currently running a free webinar that will not only show you how to avoid these mistakes; but also breaks down all 5 of these business models further and shows you how you can get started today.

Check it out below ⬇️

Want To Grow A Profitable Online Coaching Business?

This FREE Training Webinar Shows You How Average Experts And Experienced People Can Build A Successful Online Coaching Business Without Having The Perfect Idea Yet. Without Huge Techy Skills, And Without Huge Investments.

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Want To Grow A Profitable Online Coaching Business?

This FREE Training Webinar Shows You How Average Experts And Experienced People Can Build A Successful Online Coaching Business Without Having The Perfect Idea Yet. Without Huge Techy Skills, And Without Huge Investments.