I want to help you get clarity on which online business is best for YOU.
If you're committed enough, you can be successful with any online business model.
That being said, you want to carefully choose one that best suits your desired lifestyle, level of experience, and long-term vision.
Inside this blog, I pose 7 questions that will help you get clarity on which online business opportunity might be the best one for you.
Wishing your way towards an online business isn't going to get you anywhere.
If you're ready to take action and become a successful entrepreneur, you'll want to read this…
Watch the video below:
(Click here to watch on YouTube)
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Are you ready to start an online business? CLICK HERE to take my FREE online business quiz to figure out which is the best online business for you!
An online business is a life-changing opportunity.
Over the last decade, I've built multiple six-figure online businesses. As a result, I've been able to travel the world, live a laptop lifestyle, and create financial freedom. I'm not going to lie… I had to fail a lot before I was able to create the success that I have today.
Instead of putting my head in the sand, I consistently failed forward, meaning that I purposefully used my failures as opportunities for growth. In short, I was willing to do ANYTHING to achieve success. I don't want you to make the same mistakes that I made.
The high rate of failure of small businesses is in great part because most people pursue the first business model they come across without taking the time to reflect upon what kind of business best suits their values and lifestyle.
I want to provide you with some empowering questions that will help to leverage your success. Before you take action to build a business, I want you to take out a pen and paper and reflect upon these 7 questions.
Ultimately, your answers to these questions will set you up to win and will save you a huge amount of time, energy, and money. Let's dive in!
1. What's your experience?
If you are a newbie to the online business world, there are some great easy-to-start business ideas like Amazon book publishing or affiliate marketing. The great thing about affiliate marketing is that you don't have to create anything yourself. Rather, you just have to promote other peoples' products and services.
Conversely, if you already have experience with Internet marketing, you could explore more intermediate business opportunities, like selling physical products on Amazon.
If you're already making money online, and are looking to make more passive income, you could create online courses or software. However, I wouldn't recommend these two business ideas if you're a beginner. It can cost a lot of money and there are a lot of moving pieces involved.
First, determine whether you are beginner, intermediate, or advanced. Then, based on what your current level of experience is, reflect upon the existing skills or knowledge that you have that you can leverage to your advantage.
For example, before I created my YouTube channel, I was a coach. As part of that business, I facilitate workshops and events. At the time, I was also doing a lot of personal development work around public speaking. I wanted to improve my communication skills. Thus, when I started my YouTube channel in 2012, I already had knowledge, skills, and abilities that I could leverage. That gave me a leg up and a head start in building my YouTube channel to where it is today.
2. How much money is required?
Every business will cost you money to run. If you don't have money to invest in your business, you can still start a business. However, keep in mind that it will take a lot longer to build. If you had to choose between spending money to save yourself time or spending time to save yourself money, I would always choose to spend money to save time.
Time is more valuable than money.
You can always make more money, but you can never get more time. Whatever business model that you decide to pursue, do research to determine how much money you're going to need to successfully run it.
For example, selling physical products on Amazon can cost thousands of dollars to start. It all depends on how much inventory that you start with, on top of the tools and software you may need. You don't want to start an opportunity that you don't have money for.
On the other hand, affiliate marketing doesn't cost much money to start. All you need is a way to get traffic, which you can get for free by creating a blog or a YouTube channel. There is no physical inventory involved with this business model. Rather, your sole responsibility is promoting other peoples' products and services.
Similarly, you can publish a book on Amazon. If you write the book on your own, the only expense you will have is hiring someone to create a book cover. This can be done very inexpensively. In 24 hours or less, you can publish your book on Amazon for free and have it available for purchase.
3. What or who can help you?
I encourage you to find mentors, coaches, or online courses that can help you create online business success. There are people who have achieved the success that you desire. You don't have to reinvent the wheel. Why not shortcut your learning curve and get to where you want to go faster?
Don't get me wrong… it's not that you can't succeed on your own. However, trust me when I say that this is a great way to lose a lot of time, energy, and money. This is why a lot of people give up. Whenever I start a new business venture, I always look for experts I can learn from. This is what gives me a competitive advantage.
4. How much time can you commit?
Committing to the idea of starting an online business is just the beginning. If you want to grow a profitable business, you must take massive action on a consistent basis. Some businesses may only require that you work a couple of hours per week, while others may require 10-30 hours per week.
Work at whatever your pace is. If you only have a few hours every week to work on your online business, that's OK. However, if you take this route, you have to accept that it will take longer for you to achieve success. The more time that you have to invest in your business, the further ahead you will get.
That being said, regardless of how much time you have to invest, you must embrace a long-term view. If you're a newbie to the online business world, make sure that you set realistic expectations from the onset and be flexible in your approach.
An online business is NOT a get-rich-quick opportunity. You have to be willing to delay instant gratification and be patient with the process. Will there be times when you get frustrated and want to give up? Absolutely.
Every time that you face an obstacle, remind yourself of why you started in the first place, dig deep, and keep moving forward. It doesn't matter how slow you go, just don't stop.
5. What is your goal?
You need to figure out why you want to start an online business. Your WHY guides every single thing that you do in your online business. Your WHY is your purpose and the one thing that will inspire you to take action every day and not give up when things get tough.
As Simon Sinek says, “People don’t buy WHAT you do; they buy WHY you do it.” Do you want to start an online business because you want to quit your 9 to 5 job and work from home, or do you merely want to make some passive income on the side?
Thinking bigger, do you have the desire to create a massive impact in the world through your work, or to become a multi-millionaire and retire at 40? Anything is possible! Based on how you answer this question, there will be certain online business models that will be a better fit for you.
6. What business are you most excited about?
I could tell you which online business model I think that you should pursue and make money with. However, the reality is that if you don't believe in the model, and you aren't excited to do it, you won't take action on it.
Tatiana's first way of making money online was through Amazon book publishing. She made some money with that business model, but she was more drawn to selling physical products on Amazon. Having a physical product felt more real for her.
She was more excited about this business opportunity. Thus, she was more motivated to take massive action. As a result, she went on to create huge success.
So, which business model excites you the most, and why? At the end of the day, whatever business model that you believe in is the best one for you.
When you are passionate about the work that you do, it won't feel like work because you will be living on purpose. In the words of Confucius – “Choose a job you love, and you will never have to work a day in your life.”
7. Are you willing to commit?
Whichever online business model that you decide to pursue, you need to ask yourself if you are willing to commit to it for at least 6-12 months. Anything less than that, don't bother.
If you're just looking to get rich quickly, you'll only dabble and waste your time. Building an online business takes a lot of time, energy, money, and grit.
You are not going to see results right away. However, if you consistently take action and stay committed to your long-term vision, there is no reason why you shouldn't be able to succeed. Hard work always pays off.
Which online business opportunity will you start in 2022?
I encourage you to reflect upon these 7 questions before you decide on a business model. Based on your answers to these questions, pick one model, take massive action on it, and don't stop until you're proud.
The sooner that you start, the sooner you will achieve the success that you desire.
Are you ready to start an online business? CLICK HERE to take my FREE online business quiz to figure out which is the best online business for you!
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