Best Online Businesses to Start In 2021

This blog is going to show with you 7 great online business models which you can start in 2021. The goal of this is to share different ideas which you may want to explore, whether you have an online business already and you are looking to expand and diversify or are looking to start one. This being the case, this blog will be great for you.

So... What are the online businesses?

1. eCommerce 

The first and one of the best online business models to start is eCommerce, Amazon FBA. On Amazon, there are third-party sellers who can make products available for sale. Within Amazon, there are different online business models which you can utilise; for example, there are arbitrage business models where you are taking advantage of price differences, you are looking at discount offers, and you are purchasing products at discount to sell higher for profit.  

eCommerce, Amazon FBA, is fulfilment by Amazon, where you can ship your products to Amazon’s warehouses, and they will take care of all the shipping and customer service.  

eCommerce has completely blown up since 2020, the growth has been so intensified by the global pandemic that it has fast-forwarded it by a couple of years. The future is heading online, which makes eCommerce now an amazing opportunity. 

Wholesale 

There is also wholesale, where you are looking at opening supplier accounts and different wholesalers that you can open accounts with and purchase products to make available on Amazon, and there is also the possibility of creating your own branded products.  

Private Label 

One other online business model is private label. In the last few years, there has been news that private labels have become more difficult and that it is dead and hard to start. But it is just that the whole landscape has changed, and it has forced people to build a brand where you have got marketing, sales, your own website and social media marketing. If you are interested in private label, then there is still an opportunity. 

One great example of private label would be Kev’s own branded product, which he launched around the beginning of 2020. This product sold all the way through 2020 and has been in the top 50,000 in ranking throughout the entire year.  

This shows that you can make your own branded products and make it work. If physical products are something that you love to get involved in, it is a great practical model, which is going to teach you so many different transferable skills. You are going to learn things such as how to utilise virtual assistants, how to analyse different product opportunities, financial management, maximising capital, how to systemise your business and how you can make things much quicker and more quality controlled.  

There are also other business models such as Fulfilment by Merchant, where you can have your products stored with you, so that if you get an order, you can simply just ship it to your customer yourself.   

How Kev started off was by online arbitrage, which he did part time by looking for deals which he could buy for low prices and sell for high prices. 

2. Blogging and YouTube Teaching 

There are so many people online who are looking for information, and Google, YouTube, and social media platforms are a great example of this. People are looking to learn and understand how they can improve their lives. This means that you have the chance to become a teacher. The chances are that you have skills, knowledge and experience which you can pass on to other people to help them achieve their goals by sharing different insights and by training. And although you may not be an expert in the area, that does not matter. If you have some experience, you know how to do it and you are interested in the subject area – you see it as a hobby, you can pass on what you know. And spreading your knowledge on YouTube and via blogs are one of the best ways to do this. So, blogging and teaching is a fantastic business model because there are so many more people now looking online to get started. 

3. Affiliate Marketing  

Affiliate marketing is the process of you recommending a product or service to someone else. Have you ever had an experience where you have gone to a restaurant or to watch a movie at the cinema and you really enjoyed it and told your friends and family all about the movie or food and your experience? Or maybe you had to have some work done at your home by a tradesman, electrician or a plumber and then one of your friends asks if you know any plumbers, tradesmen, or electricians and you recommended their company because they were good. That is affiliate marketing – recommended a product or service and getting commission in return. You may have had a great experience with something, and they possibly have an affiliate program, which is a unique tracking link which you can get and recommend to other people. So, if you have gone through a program, a course, service or you have gone to an event, you may want to look at affiliate programs and get the affiliate link, then you can do reviews, comparisons and tutorials. Affiliate marketing is a fantastic business model, which you can either get started with or apply to your current business.  

4. Information Products 

 Information products is you making available a product which gives information; it is an extension of Blogging and Teaching, which has many different information products available. If you think of different courses and online training, there are so many different online training programs such as Udemy, one of the world’s biggest teaching platforms. With Udemy, you can learn almost anything. You could become an online course creator with Udemy, which is an information product. Or you could create different e-books. There is so much information that is needed by people; for example, how-to-guides and recipes.  

If there is a market for it, then you can sell those information products, whether that is low-ticket information products for £7, £47 or even high-ticket information products for £2000.  

5. Digital products 

 Digital products are like templates. You can create useful digital products for people to download. For example, Kev developed lots of amazing master sheets and templates on how online arbitrage sellers systemise and make and make their operations more efficient – from sourcing to purchasing.  

If you are doing something within your life or business, you could template those that people need and make it quicker for people, instead of having them to develop it themselves. You could create a template and then those people viewing the template can easily just download it.  

6. Mastermind and Events 

This year, many businesses have started using software such as Zoom, where you are able to have a virtual meeting. You can start to create different masterminds and communities that could be premium, where you could bring together a group of people such as experts in different areas or people who are interested in learning about different opportunities or different businesses. Then, you can start hosting different events and masterminds over different topics via Zoom, as if it is real life.   

You can create different meet-ups and private Facebook groups, where you are able to go live and talk, and people can become members of these masterminding group. It is an amazing way of meeting, networking and being a service to other people.  

7. Coach & Consultant  

 This is where you are coaching other people, such as via different online models. This could be health and fitness, relationships, etc. You can become a consultant and develop agencies around them. Depending on your skills, depending on your results which you can achieve for others, the pay will differ. People want your advice, support, guidance and they want to fast-track months of trial and error and get the result they want to get.  

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