3 Best Business Models for the Savvy Entrepreneur Setting Up a New Business

There are powerful, fully automated sales systems available that can work round the clock earning you profit without any direct intervention from you, leaving you free to concentrate on your marketing and advertising.

So, which is the right model for you, that you can use to set up your super-successful online business?

Well, there are a number of very effective, tried and tested business models that you could follow, which allow you to work in your own time, around your current commitments. And they can all be adapted to your interests and values, around your individual circumstances.

Nevertheless, as with everything in life, there are always pros and cons to take into consideration before you invest your time and effort into doing something...

 

Affiliate Marketing

Pros and Cons of Affiliate Marketing:

Pros

• Minimal upfront monetary investment.
• Potential for multiple automated income streams.
• Potential for unlimited income.
• Complete control over what you choose to promote.
• No production costs.
• No responsibility for quality control.
• No requirement for fulfilment of orders.
• Total flexibility for your working hours, time off, and vacation schedule.
• Total freedom of location.

Cons

• Not always easy to find suitable affiliate programs.
• Not always good commissions paid.
• Success intrinsically linked to the affiliate company / companies.
• Lots of competition.

 

Affiliate marketing is probably the easiest way to start your business venture. It’s also the least expensive. With this type of business, you can sell products and / or services offered by other businesses and earn a commission on the sales. The main advantage is, that you don’t have to handle any goods or provide any services yourself. The great benefit is that it can work for you, earning you money 'round-the-clock, 365 days a year, without you having to make any extra effort.

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e-Commerce or Online Store

The Pros and Cons of e-Commerce:

Pros

• Potential of reaching a global market.
• Very low advertising costs compared with traditional 'brick-and-mortar' businesses.
• Minimal overhead costs compared with traditional 'brick-and-mortar' businesses.
• No storage requirements.
• Potential for automated fulfilment of orders.
• Easy access to diverse range of products.

Cons

• Very competitive market.
• Minimal possibility for personal customer interactions.
• Lot of marketing required.
• Higher security risk with cyber threats.

 

Conclusion:

Another easy-to-use model, e-commerce is all about selling physical products online. But the magic thing is: you don’t have to handle the goods yourself. You can buy in bulk relatively cheaply, then sell your products through internet platforms like Amazon FBA (Fulfilled by Amazon) which does all the work on your behalf, to kick-start your business. And you can do all this without ever having to find storage, or process orders, or take payments, and without having to calculate shipping costs for your stock…

This of course leaves you free to deal with the marketing and advertising side of your business, which you can do around your existing commitments in your own time.

 

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Consultancy or Coaching

The Pros and Cons of a Consultancy or Coaching Business:

Pros

• Potential global client base.
• Potential to provide your service from any location.
• No office premises required.
• No daily commuting costs.
• Potential to maintain lower session costs, and / or raise profit margins, due to lower expenses.
• Less likelihood for clients to cancel due to disruption in transport services.

Cons

• Less personal interaction with clients due to digital interface.
• Reduced effectiveness in gauging client reactions through body language and eye contact.
• Sessions totally reliant on good internet and cloud services.
• Lots of competition.

 

Conclusion:

If you have expertise in a particular field, or are a trained coach or therapist, you could set up your own online consultancy. Genuine help, advice and support is invaluable, and people who have a sound knowledge base or experience can now run their practices from home offering their services via readily available online interfaces like Zoom or skype.

 

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A Few More Points to Consider:

One most common concerns people have is about the time it will take to set up their new businesses. With regard to that, it's very important to note that it is not possible to make any prediction to that effect. It depends on how much work and dedication people put into their business ventures, along with current trends and economic conditions, all of which can make a considerable difference depending on the type of business model you choose.

What can be said is that it does take time and patience at the beginning to get things going. The first few sales always seem the hardest. But as long as you’ve chosen your product or service well, they’ll soon begin to sell themselves.

The main thing to remember is - once you’re over that initial period, found your style, and started making a profit with something that works for you, you can repeat the process over and over again. And the fact is, with the right business - there is no upper limit to your potential income!

Moreover, the most important aspect to your ultimate success is, to begin with something that you genuinely enjoy. Your authenticity will shine through in your marketing and make your interactions with your customers / clients a pleasurable experience for them, so not only will they return to you, but they will become your promoters. To quote champion of small business enterprises, founder and President of IT marketing firm, TECHmarc Labs, Inc. Lisa Masiello: “Happy customers are your biggest advocates and can become your most successful sales team.”

As long as you are sincere about what you're doing and work consistently and with diligence - you really can create a super-successful online business.

 

Getting Started With Your New Online Business!

You can start today by getting the free 4-part video series offered here!

Just click on the button below, it'll take you to a page on my website where you can enter your name and email address and I'll send you your video series straight to your inbox. The series is presented by one of my mentors who will tell you more about how you can start your own business.

Plus, you'll get a bonus video to watch straight away as soon as you enter your details about the possibilities of having your own business.

If you do decide to take advantage of this amazing offer and start your own online business venture, you will receive full support throughout the process, with as much or as little help as you feel you need.

So – click on the button below and get started today!

 

(N.B: This is a genuine, fully guaranteed opportunity to start your own online business without any obligations. You're not under any obligation to buy anything and no one will spam you.)*