➜ Different online businesses you can start — which is best?
➜ Pros and cons of each type of business
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In this video I talk about the best types of online businesses that you can start. There are plenty of business models, from retail and affiliate businesses to more niche businesses like freelancing. While there’s room for success with any business type, I suggest that you don’t build your main income source from choices like affiliate marketing or any model where you don’t control the product.
This is because when you don’t control the product you’re selling, you can’t necessarily count on having a stable source of income from it. If you can control the product you sell then you can hold much more control over the income you bring in.
The benefits of selling your own product far outweigh the extra effort that may be involved. Not only do you have more control, but you can also charge higher rates for your own time.
There are plenty different types of businesses out there, and the products they sell aren’t always physical. Remember that when trying to decide on a product, you can sell your time and services, or even your expertise in a certain subject matter. The only real limit to what you can offer is your own creativity.