FIND THE PERFECT ONLINE BUSINESS FOR YOU, and build a lifestyle business, not a business lifestyle!
The choices really are endless when it comes to owning an online business. With technology comes the freedom to turn anything you love into an income producing business. If you are not familiar with the online landscape then it can seem daunting to work out what type of online business you want to start.
Below is an overview of the types of businesses you can start. The list is evolving each day so I've tried to make it as easy as possible to navigate.
E-COMMERCE
A dropshipping store is a store where you have an arrangement with a product supplier to be able to sell their products from your store without having to buy the stock in before hand.
You then sell to your clients and as each sale is made you then order it from your supplier to be sent directly to your client without any of the suppliers information included.
There is not as much margin in this as opposed to buying wholesale but the risk for you is far greater and its a great way to get started in the ecommerce world.
Print on Demand is another great way to enter the e-commerce market. You can create designs and have them printed on mugs, tshirts, hats, keyrings etc etc without having to outlay for bulk orders.
You create the design, set up your print on demand account and add the design to as many products as you want to sell. You then sell to your customer and place each order to be printed as you sell it so you don't need to hold stock.
It's a great way to test out designs and/or products. Again, the margin isn't as good as it would be if you were to wholesale the items but it's a risk free way to get started.
An online retail store is exactly that. A retail store that is completely online and there is no bricks & mortar store.
This option needs a lot of planning and capital behind you so you can decide on a product or products, determine if there is a market for them, and then have them either made for you or purchase them wholesale and ready made.
There is a considerable outlay involved with purchasing and holding stock for an online retail store.
A digital content site is one that sells digital content only. From e-books, courses, programs, webinars, planners and more.
No physical products are held in stock. Everything is created and sold in digital format only and the customer can print it out if they want to.
A monthly subscription box works really well if you are in a niche industry where people are avid users/collectors. Stationery lovers, whisky drinkers, sticker collectors are all examples of the items that lend themselves to a monthly subscription box service.
Your customer signs up and each month you send out a new box of the items they love. Often the month is themed or contains new products to the market.
There will be some outlay for stock and creating eye catching packaging for the subscription box.
SERVICES
If you have been employed in a role where you have been a leader in your industry or involved in teaching others in your industry then you can transition into operating your own consulting service in that industry.
A spin off to that is that you could also offer training and workshops around that speciality.
With social media comes a whole new industry. Businesses need social media to grow but the time it takes to create and post on social media is intense. This has led to a whole new industry in social media management where you can help other businesses to create and grow their social media presence.
This is perfect for someone who loves social media and is good at creating a folllowing.
The virtual assistant or VA industry has been growing rapidly over the past ten years.
A VA is the equivalent of having a personal assistant however it works well for small businesses who may only need an assistant for a set amount of hours per week i.e. ten hours a week to look after bookings, twenty hours a week to do admin work etc.
This is the perfect online business for someone with strong admin and organisational skills.
A digital agency is one that either handles all the digital needs for businesses or curates other business to do the work for them.
You may have skills in web design but want to offer social media management, graphic design etc so you would run a digital agency where you can offer all of those services and then you outsource that work to the relevant business you have made an arrangement with.
As a content creator you can build multiple income streams creating all forms of digital content such as printables, blog posts, social media posts, videos, either for your own business or for other businesses.
The ideas are endless in this area.
Perhaps you are passionate about a particular topic, or have extensive experience and resources you have built up over the years. Creating a membership site provides you with recurring income each month. Memberships can apply in every industry and for every topic and are a great way to build a community of like minded people.
This list is by no means exhaustive. The possibilities really are endless and can be built around your skills, your passions and your needs for hours/income etc. If you are unsure of which way to go, please touch base with me and we can work together to find your perfect online business.