Well, there are actually 6 main options for online business ideas to pursue — and I have systematically tried them ALL. I can tell you with no uncertainty that there is only one online business that I think is the best. By the end of this post, you’ll know exactly what’s the best online business to start.
Before I tell you, though, there are two rules to online businesses that you need to remember if you want to find success:
It’s about your customer…not you
“I want ___.”
“I need ___.”
“I’ll have more time for ___.”
Rarely do I hear things like:
- “I’m really good at helping my friends with their relationship problems. I don’t want to just help people 1-on-1… I want to help THOUSANDS of people.”
- “I love helping people get in shape. I want to help as many people get fit as possible.”
- “My friends are always coming to me for cooking advice — and I LOVE it. I want to share my delicious recipes with as many people as possible!”
Look, I get it — we all want to go into online businesses because it will give us flexibility, time to spend with family, more money, and a bunch of other great reasons…
…but those shouldn’t be the ONLY reasons. That can’t be where you start but it can be where you END.
If you really want all those things, you need learn to dig deep into what your customers really want and put their needs first.
Only by factoring your customers into your system can you turn your dream or passion into a real business that’ll make you money.
Which brings me to…
Passion isn’t everything
This is a brutal and hard truth to swallow — but it’ll make you a better entrepreneur once you do.
Others will sell you dreams of a 100% automated “turnkey” business based on your passion that’ll make you millions while you nap on a beach in Hawaii.
That’s a lie.
Don’t get me wrong: your passion is important. You should create a business around something that interests you — but it won’t help you decide what idea to pursue, how much to charge, and how to SELL without coming off like a sleazeball.
The determining factor between successful online businesses and the ones doomed to fail are BUSINESS SYSTEMS.
So, which online business system will be the most profitable? How do you know if people will pay? How do you get traffic and buyers and repeat customers?
Today, I’m going to show you the different ways you can start your first successful online business — with my specific recommendation for the best.
The 6 best options for starting an online business
Here are the 6 options for online businesses you can start.
- Software (including apps)
- Physical products
- Affiliate marketing
- Online courses
Better yet — here’s an illustration that’ll show you where these businesses stand in terms of startup costs (low costs beats high cost) and profit margins (the higher the better).