What is the best online business to start and how do I go about finding it? While there isn't just one online business which is the best, there are few different types of online business which are better than the others. Let me go over a few that I had success with and a few businesses that I didn't and we will see what makes up a good online business and what makes up a bad online business.
E-Commerce/DropShipping
I do not suggest getting into the ecommerce and dropshipping type business. This business model is very hard to profit from. I have owned over 12 different ecommerce stores and the profit margins were not worth the hassle. Dealing with customers, returns and shipping, are just a few of the many problems I encountered with ecommerce.
However, if you can find an untapped product that has big big margins (somewhere above 50%) and the product is priced pretty high, then I think you could start a business doing this. I have one site now where I sell a product for over $2,000 and the profit is at least $1,000 every time I sell one. I can deal with a customer who has just payed me over a grand in profit. For lower priced products with low margins, no thank you!
Adsense
Making money on adsense can be a great online business except there a few things. You need a lot of traffic to make money and you need a lot of sites. Adsense is basically when you make money off of displaying banners on your website. You get paid only pennies per view and that would mean you would need a lot of visitors to get any sort of good return. Well, how do you get lots of visitors?
Unless you already have an establish site with tons of visitors, then adsense is definitely not the choice for you. It would require too much time and money to even get visitors and your ROI might not even be worth the effort.
A good online business or the best online business is one that had long term durability and stability. You want to make sure that if you start a business and start paying your mortgage and every other personal expense you might have, that one day your business is not going to be destroyed and you are completely left with nothing. I have heard many stories of this when people have one website and Google decides one day that website shouldn't be ranking. They end up loosing all their rankings and all their sales.
Another, is the ability to scale. Again, you do not want to be trapped with one single business or one single site. The online world is always changing and is much more volatile since things change much quicker. YOu don't want something to happen and have nothing. So it is always good to diversify whatever you are doing and to have other areas bring you money. So either scale more sites or invest in other online businesses to ensure that if something were to happen, you are not completely broke.
If you sign up for my ebook, I go over ways how I make money online being an affiliate. I do not want to publicly dispose of this information because I do not want my methods to get out and get saturated. These are ways that I use at this moment to bring in over 6 figures of income each and every year. I am hoping to do even better this year.
Overview
The best online business is a matter of opinion and it depends on what skills you have and what things you like to do. I can only suggest a few from my own experiences but it is up to you to decide which is the best for you. And remember, you have to take action! Without action the best business is a no business if you don't do anything with it.
