The main trending business ideas include businesses with automation. Automation is the future of business. Without it, business owners are trapped in their business, or trapped managing their business. If you can build a business which delivers products and services without you having to be there, you’ve got an automated business system. This means built in time freedom. This is how many so called ‘lifestyle’ business work. Lifestyle businesses, which offer time and financial freedom, are some of the most popular trending business ideas at the moment. And for good reason!
Trending Business Ideas
Many of the latest trending business ideas are ‘lifestyle’ businesses. What is a lifestyle business? A lifestyle business can be anything which allows you to build your business around your lifestyle, and not the other way around. Most ‘bricks and mortar’ businesses revolve around working from a business premises. Owners need staff and to be constantly working in and on the business themselves. But a real lifestyle business is different because it uses the internet and technology to free up the owner’s time and generate ‘leverage’ through systems.
Instead of having a physical business which requires a huge outlay for startup, internet businesses use technology to automate and scale up. Business models like drop shipping and affiliate marketing allow the business owner to act as a ‘front-end’ only business. This means that anyone with a laptop can send website traffic (customers) to other people’s products where delivery and sales are fulfilled by someone else.
As a ‘third party’ sales person or ‘affiliate’, the online entrepreneur sends qualified leads to a company. The company closes the sale and pays the affiliate for the referral. With some companies, you can also benefit from residual commissions on life long products and services – such as memberships and subscriptions.
Why A Lifestyle Business?
Trending business ideas tend to follow this kind of model for a few reasons:
- Cheap to start up – unlike a bricks and mortar business they don’t involve the purchase or rental of business premises.
- Can be operated from anywhere globally – anyone with a laptop and internet connection can use these trending business ideas
- They benefit from automation and scalability – you don’t need a team of staff and can use the internet and technology to automate referrals and generate scalable website traffic.
An online business has the benefit of being able to run 24 hours a day, 7 days a week too. You don’t have business rates to run an online business. Your main costs are training, software, internet connection and website hosting. Compare this to businesses which have a physical business premises and a team of staff to pay. Â You can see how much cheaper this kind of business really is.
Trending Business Ideas – Online Businesses
Online businesses benefit from those three massive benefits:
- Cheap start up costs
- Globally accessible
- Ability to automate and scale
It is the ability to automate sales with an online business which makes it particularly useful. Because you are acting as a lead generator for online businesses, your only consideration is the front-end of the business. Sales, deliveries, customer service and product development etc., are all taken care of by the business who owns the products. Your only job therefore (with this kind of online business) is to send qualified website traffic to these companies. Whether they be drop shipping companies or affiliate products, the business model is much the same.
The entire process of online traffic generation can be automated and scaled up to a global audience. That’s a massive benefit with a business. Physical businesses are limited to a specific place and the local customers. An online business, especially with the right products, can cater to a much larger audience.
Which Business Model To Choose?
The main trending business ideas online are affiliate marketing and drop shipping. There’s a tonne of others too, but these two offer:
- The ability to scale
- A global reach
Drop shipping companies pay their ‘affiliates’ a commission on every sale which is generated by them. By tracking online advertising, they can determine who has referred a specific sale. Once sales are generated and adverts and or content can be attributed to a sale, online marketers can determine which activities are most productive and then concentrate on the most beneficial activities.
This is the same for affiliate marketing too. Affiliates generate content or pay for advertising to send customers to products which may be suitable for them. When a sale is made, the affiliate gets a commission. Both models of affiliate marketing and drop shipping allow the entrepreneur to send qualified traffic to another company and earn commissions. The whole process can be scaled up with various online advertising and marketing methods.
Affiliate Marketing – Digital Products
Digital products have become popular, trending business ideas. This is for a number of reasons. Firstly, digital products tend to pay out larger commissions than physical products. Typically, they pay affiliates 40% commission on sales.
Digital products can be accessed immediately over the internet. They can be either downloaded or accessed online in the case of a membership website, for example. They don’t carry any costs for storage or postage. Once they are produced once, they don’t require further manufacturing costs either. This makes them perfect for selling over the internet. They are also far more accessible to anyone with a laptop over then internet than physical products or drop shipping products.
Digital Products And Future (On-Going) Commissions
Many of the latest trending business ideas often include products which continue to pay out, even after the initial purchase is made. This makes them much more lucrative. This is possible because of products which involve on-going subscriptions and continuing value for customers. This could be products which offer:
- Education and training
- Membership websites
- Software and hosting packages
When you combine products like these with the ability to work from anywhere, scale up globally and automate, you can see why trending business ideas favour this business model.
- Digital products – A digital product range you can promote and earn from
- Global Accessibility and reach – Work from anywhere from a laptop
- Full training – anyone can do this regardless of age or technical knowledge
How Do You Scale An Online Business?
The model of an online business lets anyone promote and sell someone else’s products. This is the main strategy for many trending business ideas. This model meets the criteria for many because it lets them build a business around their existing lifestyle, or create a lifestyle which suits them.
But what’s involved in actually doing this and how attainable is it? The entry level requirements for an online business are pretty much open to anyone and this means many won’t achieve success at it. The discipline required to achieve success in any business is usually more than what most people will expect. Both affiliate marketing and drop shipping are performance related business models.Â This means if you don’t make any sales, you don’t get paid!
Although the potential of an online business is huge, (because of the automation and ability to scale), there are still a lot of things to learn and implement. Whether or not you can do this well, will mean the difference between success, mediocrity and failure.
Pay Per Click Advertising
Pay per click advertising, or direct response advertising, is responsible for many online success stories. It has allowed anyone the ability to tap into a global audience from their laptop. However, many will try and fail at this business strategy and give up far too easily.
Pay per click allows any business owner to send targeted traffic straight to their website. They only pay when someone clicks on their advert. This means they can ‘tweak’ their advert to put off anyone who is not a well targeted customer.
For example, if their customer demographic indicates that the best customers are aged 35-45, they can target that ‘slice’ of the market as appropriate. This means they have greater chance of finding a buyer from each of their ‘clicks’.
By testing and measuring adverts and recording the results by tracking, marketers can determine the best advert to generate online sales. They can also do this at whatever budget they can afford. As they see a positive return on their investment, they can increase their budget, knowing that they will make further sales at an increasing rate.
Trending Business Ideas – Blogging
Blogging is one of many popular and trending business ideas. Blogging is a simple and affordable method of building traffic to be used in conjunction with an online business strategy. This could be Google Adsense, affiliate marketing or drop shipping. Google’s Adsense program allows you to place code on your blog and get paid for clicks on your adverts. As your traffic builds up over time, more people will click on your adverts and you’ll earn more money.
When you start your blog, the amount of traffic you generate will be very low. As you continue to produce content for your blog, your traffic levels will grow. If you write content which is appropriate for your target audience, you can generate sales from your blog through either affiliate marketing or drop shipping, for example. And of course you can also generate income from Google’s Adsense program.
Over time, and if you maintain a regular habit of blogging, your traffic will start to gain momentum. As older articles get found on Google, or are shared around social media, your traffic levels will start to rise. This form of online marketing, although slow at first, can build up dramatically over time. Blogging is a great traffic generation method but it is a slow one!
Blogging is another one of many trending business ideas because it can offer a sustainable income. You can work from a laptop from anywhere and generate passive income from a blog. However, like many online success strategies,Â success comes only after a long time of regular and specific action.
Start Your Own Online Business
Learn how you can start your own online business. This digital business system lets you tap into a range of digital products which you can start earning commissions from. Full training is available and there’s also a community of online support to help and advise you.