The Best Online Business To Start With High Profit Potential Has More Authority, Traffic, Commissions, And Sales

 

online business to start

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NOTE: This page is part of the Online Business Guide. To go through the Guide in order, go here: Start Online Business Guide

There is a lot to take into consideration when looking for the best online business to start. I mean, starting an online business is a great idea. But how do you figure out the “best online business to start”?

Instead of talking about online business topics and how to research them, I want to look at how you are going to monetize your online business. I mean, this is a BUSINESS after all. And businesses make money.

You want your online business to make money, don’t you? And if you are going to make money… why not make the most money possible?

Therefore, I want to focus on an online business model with high profit potential. This is the online business model I use… so it only makes sense to discuss exactly what I am doing.

This page is detailed, so I suggest reading the page all the way through once, and then use the Table Of Contents to revisit specific sections later.

 


Best Online Business To Start Requirements

There are a lot of different types of online businesses. They can be a small one person show (or a husband and wife team like in my case). Or they can be a big business with lots of employees.

I stick with what I know. So, if you are looking to start the next Google or Netflix, you probably should look somewhere else.

I recommend the best online business for most people should adhere to these simple requirements…

 

⇒Best Online Business To Start For Beginners

I believe an online business should be beginner friendly. The business should be simple to set up, easy to understand and straightforward to run.

If the business model is too complex and takes years to learn… it is probably not right for you.

 

⇒Best Online Business To Start From Home

If you’ve studied the Wealth Plan Blast Off, you know I recommend starting an online business to make EXTRA money. So, you don’t need to run a business as a full time job (like I do).

Your online business can certainly become something that earns you a full time income, but it doesn’t have to be. Therefore, you’ll want to be able to run your Internet based business from home in your spare time.

 

⇒Best Online Business To Start With Little Money

Again, your online business is something you’ll want to start to make EXTRA money. And since the goal is to make money as soon as possible, it doesn’t make sense to spend a lot of money to get started.

The lower your operational costs, the sooner you can become profitable. I’ll show how you can get started the right way for between $500 and $1,200 a YEAR.

 

⇒Best Online Business To Start With High Profit Potential

This is a major requirement. Regardless of what you are doing to make money with your online business, it is going to require effort on your part.

In most cases, the amount of effort to make $5 online is very similar to the amount of effort to make $100 or $1,000. So, why not make the most money possible for your efforts?

This means doing things to make money online that have high profit potential.

Let’s start by talking about the best ways to make money from your online business…

 


Online Business Monetization I Don’t Do

Before we go over the best online business to start for high profit potential, I want to go over some monetization methods I don’t do. After all, it’s a lot easier to understand why I do things the way I do when you have something to compare to.

Here are 4 things I don’t do with my online business and why…

 

⇒Advertising

Some people use their website to make money by placing ads, usually banner ads. If someone clicks on the ad, they get a small compensation.

I personally don’t like sites with a lot of ads. I think they look cheap and are hard to navigate. And since you only get compensated a small amount, you’ll need a LOT of web traffic to make any decent money.

To me, it doesn’t make sense to work hard to get a lot of people TO your website… only to want them to LEAVE by clicking an ad so you can make a few pennies.

 

⇒Dropshipping

This sounds like a great deal. You sell physical products to the public and the factory ships directly to the customer. No warehouse required.

But because you are selling physical products, the profit potential is dramatically reduced. You still need to pay for the product itself, and your markup cannot be extremely high to remain competitive.

With a low profit margin, you’ll have to sell a lot of physical products to make good money. Not what I’m looking for.

 

⇒Ecommerce

I think this way of doing online business is even harder to make decent money. You create or buy products and sell them online directly to customers. You have to take into account the cost of materials or the cost of the item, storage, shipping, etc.

Sounds like a lot of work, for very little profit.

 

⇒Software as a Service (SaaS)

This is when you run an Internet based service where customers pay for the use of the service, instead of buying software they run locally.

I would actually love to be able to do this. These types of online business usually have recurring income subscriptions built right in, which is fantastic. Unfortunately, I’m just not that technically gifted.

While I could get someone else to create the SaaS, I don’t want to run an online business where I am the dumbest person in the room.

Now you know what types of online businesses I don’t do, and why. Now let’s talk about the type of high profit potential online business I do, and recommend.

 


Online Business: Affiliate Marketing

Affiliate marketing is one of the best money making activities you can do from your website. It is perfect for the Internet.

Other online businesses with products and services will pay you a commission to send them potential customers. Your job is simply to help people with a problem, need or desire find the perfect solution, product or service.

Here is how it works…

Let’s say you have a website about pet frogs. You create a lot of content about pet frogs to help others with their pet frog. This attracts visitors interested in pet frog related topics.

Company F sells frog sweaters. They will pay you 25% for every sale you generate.

This is a perfect fit for your site, so you sign up (free) to their affiliate program. They give you a unique affiliate link to use. You place this link on your site, and if someone clicks this link, goes to Company F and makes a purchase… you get 25% of the sale.

This is a great deal for you. You have people visiting your site with a common interest. And if you can help them find what they are looking for, and get a commission for it, this is a win – win – win.

  • Your visitors win because they find what they want and need.
  • The company wins because they get a new, happy customer.
  • And you win because you get a commission.

I think of it as being a partner in a company. I don’t have to create the products, run the services or deal with the day to day operations. But I can leverage their hard work and get a share of the profits.

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This setup means there is high profit potential. The more clicks on my affiliate link I get, the more money I can make.

 


Online Business: Sell Digital Products

Selling digital products is another money making activity I recommend. If you have information, or can gather information, to help people solve a problem, achieve a goal or fulfill a desire… you can sell this information.

Digital products are great for many reasons…

      • You do the work once and can sell the product forever.
      • Since the product is in digital format, there is no “material” cost.
      • And since the product can be delivered online, “shipping” costs are very low.

You know what this means, don’t you? There is extremely high profit potential in selling digital products.

Here is an example…

You notice on your frog blog that people are excited about your posts on teaching your pet frog to “croak” Happy Birthday.

So you create a downloadable PDF explaining step-by-step how you taught your frog. And you sell it directly from your website.

While writing the product and setting it up took some effort in the beginning, you can now sell it forever. And since every sale is almost pure profit… you are well compensated for your efforts.

The fact you can sell, deliver and protect your products on autopilot really makes you happy. Every time you wake up to a new sale… it just starts your day off right.

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You are so excited about the potential you are already thinking about your next digital product. And the one after that.

Now you know the two best ways to monetize your online business is with affiliate marketing and selling your own digital products.  But how are you going to get visitors to your site in the first place?

 


Online Business: Content Marketing

For the best results, your online business is going to be about a specific topic.  You need to find your niche.  And the content you put on your website should talk directly to people with shared interests, problems, needs and desires.

This means content marketing.  Content marketing simply means focusing on creating, publishing and distributing online content specifically for a targeted group of people.  And content marketing is great for a variety of reasons…

 

⇒Your Content Defines Your Online Business

People will only know what your online business is about by the types of content you put on your website.  When your content is focused on a specific topic… it is easier for your visitors to understand what your site is all about.

If they are have an interest, have a problem, have a goal or have a desire related to this topic… they will immediately recognize they are in the right place.  And that will make them want to stick around and hear what you have to say.

 

⇒Keywords Define Your Content

The content you create should be “keyword specific”.  The search engines need to understand what each page and post on your site is about so it can index it correctly.  A major way they do this is with keywords.

Keywords are what your potential visitors type into the search engine.  So, when you focus on keywords specific to your niche you help the search engines index you correctly and your potential visitors find you.

This is what I use to brainstorm, do keyword research and create the blueprint for my websites…

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⇒Helping People Leads To Commissions And Sales

The content you share on your website should be designed to help people.  

  • People have problems that need solving.
  • They have goals they want to achieve.
  • And they have desires they want to fulfill.

Help them accomplish something and you will have a happy visitor that follows your affiliate recommendations or buys your digital products.

 

⇒Content Marketing Is “Cheap”

I know, your time is valuable.  So, the time and effort you put into creating content “costs” something.  But compared to directly paying for traffic to your website, getting traffic from your content is cheap.

Imagine spending a few hours creating great content for your site… and getting visitors to your site for years to come.  Plus, in order to be as profitable as possible as fast as possible, you’ll want to keep your operational costs low.  Creating great content yourself can help you do that.

And since I’m on the topic of “getting the most bang for your buck”, let’s talk about one of the most important part of an online business with high profit potential…

 


Online Business: Email Marketing

If you don’t incorporate email marketing into your online business, you are really missing out. EVERY online business can benefit from email marketing.

Just think about it…

Most of the effort of running an online business is getting web traffic.

  • You have great content on your website that can help people.
  • There are recommendations for other people’s products and services where you can earn commissions.
  • And you have your own digital products people can buy.

You want people to see all this, right? The more eyeballs the better.

But not every visitor is going to do something that makes you money on the first visit. And once they leave, they might not ever find you again. This is a missed opportunity.

However, if you subscribe a portion of your visitors to an email list… you get the chance to talk to them again. You can form a relationship with them and prove yourself as someone in the know.

In short, you can continue to offer them your products and present them with recommended solutions.

IMPORTANT: We are not talking about SPAM here. I hate spam just as much as the next person. So you are NOT starting a list of subscribers with the intent of blasting them endlessly with low quality offers.

Having an email component to your online business just makes sense. So make sure you incorporate this into your online business plan right from the start.

 


Best Online Business To Start:
The Synergy Factor

If you’ve read any of my stuff about Forex Trading, you’ll probably already know I am big on synergy. Synergy basically means the combined effect is more than the sum of the effects of the individual parts.

      • Affiliate marketing on its own can be very profitable.
      • Selling digital products on its own can also be very profitable.
      • Creating great content can bring the right type of people to your online business.
      • And using email marketing with any business model is a great idea.
      • But COMBINING affiliate marketing, selling digital profits, content marketing and email marketing can be exponentially MORE profitable.

Here is what I mean…

 

Selling your own digital products can help you make more affiliate commissions than affiliate marketing alone.

And…

Creating a relationship with your visitors through content and email marketing can help you make more sales and commissions.

 

Here’s how…

 

⇒More Authority

When you form a relationship with your subscribers and create and sell your own digital products, you establish yourself as an authority in your niche. And as an authority, people are going to be much more accepting of your affiliate recommendations.

Many times, you can add your affiliate recommendations directly into your digital product. So, your customer pays you for high-quality information. But you may also make a commission if they purchase one of your recommended products and services through your affiliate links.

(Plus, your customers are much more inclined to follow your affiliate recommendations because you’ve already delivered excellent, helpful information that exceeded their expectations).

 

⇒More Traffic

Great, keyword specific content brings more visitors.  And by creating a list of subscribers in your niche, you can generate returning traffic to your online business by notifying your list of new, helpful content.

Plus, when you have your own digital products for sale, you can run your OWN affiliate program. This means you get other people to send you targeted traffic from their websites, and if they purchase, you give them a commission.

More traffic means more visitors to your website. That means more people coming in contact with not only your digital products… but your affiliate recommendations as well.

 

⇒More Sales

Forming a relationship with your website visitors and list subscribers helps them to get to know and trust you. This means they are much more likely to spend money with you.

Furthermore, running your own affiliate program can mean more sales if the recommendation comes from a trusted authority in the niche. Getting a few high profile affiliates to promote you can be a real game changer… and lead to many more sales.

As an added bonus, if you have multiple products, it is also easier to sell an existing customer more products than acquiring a new customer. Thankfully, you have them on a list… so you can contact them with new offers as they become available.

Since they already know you deliver on your promises and exceed their expectations, they are much more likely to want more of what you have to offer.

 

⇒More Commissions

Because of your digital products and running an affiliate program, you are already getting more traffic and sales… which is great.

Your digital products should be valuable on their own. But sometimes it is necessary to recommend another high-quality product or service to complete the process.

Therefore, if you’ve strategically woven affiliate recommendations into your digital product… you are also getting more commissions as well.

Plus, as you find more high-quality solutions, products and services your audience would be interested in… you can contact them through email.

As you can see, the best online business to start combines email marketing, affiliate marketing, content marketing and selling your own digital products. These money making activities work hand and hand. And the combination can lead to exponentially more profits than focusing on just one.

You see? Synergy.

 


How To Start The Best Online Business

I think you should understand by now how powerful starting an online business can be. And if you are going to start an online business… the combination of email marketing, affiliate marketing, content marketing and selling your own digital products is the way to go.

The good news is, you don’t have to have all this figured out right from the start. You can begin making money with affiliate marketing, and then create and sell your own digital products later.

Every money making activity in this plan is high profit potential.

This method allows you to become profitable very quickly, and then grow your online business to new profitable highs down the road.

Regardless of how you get started, you’ll need to have your online business infrastructure set up. And since I’m already combining email marketing, affiliate marketing and content marketing with selling my own digital products… I’ve already figured everything out.

There are two things you should know about how I set up my online business…

      1. I like simple solutions that do exactly what I need without a long learning curve.
      2. And I insist on keeping my operational costs low so I can see profits faster.

Following my lead can be a big shortcut to getting your online business set up fast, effective and inexpensive. And more importantly, it can keep you from making costly, time-consuming mistakes.

What to do next?

 

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To Your Wealth,
Edward Lomax

 

Take Immediate, Relentless Action

“Create a definite plan for carrying out your desire and begin at once, whether you are ready or not, to put this plan into action.”

–Napoleon Hill

Focus Only On What Works

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–Zig Ziglar

Succeed Where Others Fail

“Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.”

-Jim Rohn

 

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