With so many different online business opportunities available, it can be nerve-racking to make a choice.
Anyway, I think your biggest concerns are not about the choice of online business itself.
I believe you are more concerned with the profit potential and the effort required to see results
Every adult has real responsibilities; so you likely don’t have all the time and energy in the world.
You want freedom, but at the same time, you must continue to put food on the table
So while you work out an escape plan to quit your regular job,
You want the peace of mind that comes from making enough money from your online business
Online Business Opportunities Are Not Created Equal
When online businesses are advertised, they all look darn good.
The logic of how the money is made? It makes sense…
I wish I could immediately put you out of your misery by telling you to choose anyone; they are equally good.
But that would be a lie.
I’m guessing you already know that by now.
Some opportunities will make you money; while others will take the money you have.
The entry requirements for online businesses vary; some need more time, while others are capital-intensive.
Another thing to look out for is that some of them are fads. They will soon be forgotten.
The last thing you want is to invest time and energy into something winding down.
Since this article is about helping you figure out how to choose the right online business, I will share my 4 rules for choosing an online business, before going ahead to show you my recommended online business.
The Golden Rules For Choosing An Online Business
Before you choose any online business, make sure it checks these boxes:
- The cost of failure is minimal
- It is in a growing market
- It can be automated
- There are examples of similar success
Rule #1: The Cost Of Failure Is Minimal
Many years ago, I got a distress message on Facebook.
It was from an online businessman. His line of trade was importation.
He buys goods from foreign countries and sells them in his home country using the internet
He had done it successfully for a while, until that month.
If you know anything about this kind of online venture, It’s called e-commerce, and it can be very profitable…
Especially if you’ve chosen the right product to market.
This fellow, however, had his tricks for choosing his products, which was to test a small quantity to see how it performed in the market.
His test for this product went really well. It seemed there was crazy demand for the product.
In excitement, he ordered several containers of the product.
Unfortunately, he was unable to sell them.
The market seemed to have dissipated.
His money became stuck in several units of a product that just wouldn’t sell.
To make matters worse, the products had an expiration date, which was coming fast.
Just in case you are wondering what became of him, I wish I knew; for reasons I can’t remember now, I couldn’t work with him.
However, what I want you to pay attention to is the fact that this line of business had a high cost of failure.
Get the wrong product and your money will be stuck.
But overall, it’s still a good online business to start if you have a big appetite for risk.
My advice for starters is to avoid online businesses that require heavy upfront investment
That’s the first rule for choosing the right online business.
Rule #2: The Market Is Growing
Markets are hardly stagnant.
They are either growing or shrinking; you can’t outperform the size of a given market.
If a market is shrinking, you can’t grow your business.
Competition gets stiffer and there’s less money to go around.
What Is Market Size?
Imagine you and your 9 friends spend $100 each on entertainment in a given year. That works out to be $1,000. If 10 of you were the only people on earth, the size of the entertainment market is precisely $1,000.
So the size of an industry or market is the amount of money people spend collectively on purchasing goods or services in that industry.
Do you remember diskettes and CD ROMs?
What about Radio sets?
In their prime, those were very big markets.
I’m not sure anyone buys diskettes today. In fact, people born in the 2000s won’t know what it looks like.
The market for CD ROM is also declining. The same can be said for Radio and newspapers
So before choosing an online business, check the size of the market, and that it is growing!
If it is stagnant after a period of continuous growth, its decline is inevitable.
Rule #3: It Can Be Automated
Your goal for starting an online business is freedom. Not another 9 – 5.
You also need something that can fit into your current schedule and responsibilities.
How much time does it need to get started?
How much time does it need for ongoing maintenance?
Would it be disruptive to your current lifestyle?
You need to be sure you’re satisfied with the answers to these questions before moving ahead.
Not many online businesses can be operated hands-off
Since you’re just starting, you’re likely going to operate as a one-person business
So you need all the automation possible to do the heavy lifting for you.
Rule #4: Examples Of Similar Success!
What greater confidence than people just like you succeeding in that same venture?
Reinventing the wheel is a difficult task.
It’s easier to look for what is already working and copy it.
There’s nothing wrong with copying.
As Pablo Picasso said… “Good artist copy, great artist steal”
You want to look out for examples of people with similar situations as you who are doing exceptionally well with that type of online business.
This should give you the confidence to put in your best.
Now that you have the 4 golden rules for choosing the right online business, it’s time for me to reveal my recommendation.
My Online Business Recommendation
If you want to start an online business that requires little capital, and little time, but also has an unlimited profit potential
There’s no better opportunity right now than starting an information marketing business.
Here’s why: Information products are easy to create; you can make one in an hour. Secondly, you already have the tools to make info products (Internet and a device); so the required capital is minimal. And finally, there are many 8-figure info business owners just like you; which goes to prove there is a lot of money to be made!
The Info Business industry is already a multi-billion dollar industry, but it is growing exponentially these days.
This means, there are a lot of people spending money buying the products in this industry.
The best part is that it can be fully automated! This means that once it is set up you can spend your time as you please!
If you want to learn more about it, Click HERE right now and read the message on that page.
Make sure you read every single word. I hope it makes a difference for you.
That’s all for this one.
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