The best hands off businesses use technology and the internet to free up your time. They can work 24 hours a day 7 days a week, generating sales, taking leads and delivering products. What’s even better is that anyone can learn how to run an internet based business.
Best Hands Off Businesses
So what makes an internet business one of the best hands off businesses? An internet business can be started fairly cheaply. Compared to a physical business, an internet busines has far fewer overheads. With a normal ‘bricks and mortar’ business you need to pay for business premises, staff, equipment and stock. And that’s before you even open for business. With an internet business you only need a laptop and an internet connection to get started, and most people have these already.
What About Products?
Using the right products is one of the main keys to long term success online. Digital products can be sold online without you having to own them personally. You can earn commissions based on the sale of those digital products. Digital products work well online because they can be delivered over the internet very cheaply, it doesn’t cost to post them or store them. As such the owners of digital products can pay larger commissions to their affiliates, for selling them – See what is affiliate marketing. Often up to and even beyond 40% of the sale price of a product.
The Money Is In The List
Another reason why an online business makes one of the best hands off businesses is email marketing. Email marketing lets you build a list of email subscribers and sell prooducts directly through your email list. Subscribers can click on a link and purchase a product over the internet. This process can also be largely automated so your subscribers receive pre-written emails which have been created already. As your list grows in size so does your number of sales. Growing a list can be done with online advertising and through a landing page – a specific website page designed to capture an email address. All of this process can be automated and scaled.
Scaling An Internet Business
An internet business makes one of the best hands off businesses because of its ability to be scaled up. With a physical business there are all sorts of limitations. Scaling a physcial business requires much more hassle: updating equipment, getting more staff and a larger building etc. The logistics of scaling a small physical business to a larger business are much more limited and require much more investment. An online business, on the other hand, can be scaled relatively easily, once everything is in place.
Once a sales funnel, sales pages, email marketing campaign and products are in place, scaling up is just a matter of increasing the advertising. Because an internet business is international, there are no limitations to location either. A locally based business will always be limited to the number of people it can serve. An international business can serve people globally.
Best Business Model For An Online Business
The best business model for an online business includes subscription products. Subscription products allow you to stabilise your business much more quickly with consistent income. Selling ‘one off’ products over the internet can be more difficult. Selling products which have monthly income attached means you can gain more traction much more quickly. Even in a quiet month of sales, if you have sold a number of subscription products, your income continues to come in. In addition to subscription products you should also consider:
- Hight Ticket Products – Let you earn larger commissions per sale
- Up-sells – Choose products which rewards you for later sales closed by the company
- Built in sales team – Choose products which reward you for sales closed by ‘in house’ sales team
- Multi-Tier Sales – Earn commissions for sales of your team
Paid Advertising vs ‘Free’ Advertising
For your business to be truly hands off you will need to use paid advertising. ‘Free’ advertising means you will need to create content and share it on the internet. This takes time and energy but is much cheaper than going down the paid traffic route. However, it takes much longer too. Content you create can bring in sales for potentially years to come. Paid advertising can be scaled much more quickly and easily.
The fastest way to build an online business is to set up your own pre-built sales funnel (access one here which has a ‘done for you‘ sales funnel). Use paid for advertising for send targeted leads to your sales pages. Test and measure your advertising and scale up when you find a profitable advertising campaign. See my guide for more detail on using paid for advertising.
Other Benefits Of An Internet Based Business
An internet based business allows anyone to work from their laptop from anywhere, earning money from the sale of digital products. A business can be built up around existing work too. Whatever your situation you can usually fit in a few hours each day to work on an internet business.
Over time your internet business can start to have a big impact. Small ‘trickles’ of income can turn into larger streams and then rivers! Work you have done previously can continue working for you. This has a compounding effect to generate more and more leads, sales and income. If you have geared your business right, this can have a massive impact over the long term. Many online entrepreneurs have gone full time online and left their day jobs for the ‘internet lifestyle’. This takes time and consistent effort of course!
Stop Trading Time For Money
An online business is one of the best hands off businesses because of its ability to be scaled up. Most people give their time to their jobs. However many days you turn up for a job you always get the same income. This is the model of trading time for money. The internet business model allows you to stop trading time for money. Online sales can be automated and scaled.
As your income grows from the internet you can reinvest this income back into advertising and your business can be scaled up into the larger income brackets. To earn more money from a job, you have to put in more time. Since time is finite and you only have so many hours in the day, your earnings are limited. Use a differnet model and stop trading time for money. Learn how here.