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HomeBlogWhat Is The Best Business To Start In 2024?
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What Is The Best Business To Start In 2024?

Author Zemira Jones Avatar
by Zemira Jones
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These days, more people than ever are starting their own online businesses.

If you’re dreaming of starting your own online business, your options are endless. There’s just one problem – there are so many options available to you that you aren’t sure which one to choose. 

The good news is I’m about to help make that decision much easier for you in a few minutes. I suspect every time you research online businesses, you come away feeling totally overwhelmed and unsure of which business model is right for you.

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This is why I created this website: to help you cut through the overwhelm and focus on the online business models you could consider and then help you select the best model that suits your situation.I think you are about to find out…Ready to uncover the right business model for you?

Then let’s dive in!First lets talk about The Service-Based Online Business Model.

Having a service-based online business model is one of the most popular approaches today. No matter what your industry, niche or skill set, there’s always an opportunity to set up a service-based business. They fall under three categories: Coaching: this provides hands-on help, guidance, and accountability. As a coach, you act as a guide who listens and helps your client figure out what their next steps should be. Consulting: this focuses on high-level, practical expertise. As a consultant, you not only guide your clients but break down the actual steps they should follow.

Done For You (DFY): this places the focus on you, as you do the actual work for your client.Becoming a consultant requires the most experience. Your clients need to know that you have gone through the process many times before. As such, it’s a popular service-based business model for someone who has a lot of experience in the traditional workplace and is looking to work for themselves.Coaching requires less experience, but it’s certainly more hands-on and time-intensive because you need to guide your clients along the right path. Whereas the Done For You model is the most time-intensive of all as you actually do the work for them (this often leads you to create an agency model).

The main benefit of a service-based business model is that there are fewer startup costs. It’s a business you can begin straight away without having to worry about equipment, staff or anything else. It’s all about you providing a service. As such, the barriers to enter this market are low.

Potential income is high, too. People value intimate, one-on-one work. If you can save your clients (time or money) or help them make more (money, lead generation, momentum), you can gradually increase your rates and make a lot of money per hour.

The downside is even though this business model has a low barrier to entry,  success is hard to achieve. Unless you have been in this space for decades like me or have a high enough skill-set to be instantly competitive, achieving consistent profitability becomes difficult. But I have a better solution for you that is ideal for today’s marketplace. Just stick with me as I go through the options with you…

The Mastermind Online Business Model is also one of the top-performing options today as well.This business model type centers around you creating a community. The standard way to do this is either with a Membership Site which is less hands-on and designed for larger groups. The other option is the Mastermind Group which is more intimate and built for smaller groups of people. I know you have seen those groups everywhere.

Of course, you can combine the two under a single business model. Your membership site serves the masses while you create an intimate mastermind group for those looking to take the next step.

Although you do need some experience to run either a mastermind or membership model, the main emphasis is on the community. So as long as you are a few steps ahead of those you serve, you don’t need high levels of experience.This is a time-intensive approach, however. In time, parts of this process can generate passive income. But much of it will always require a personal touch, either from you or someone else on your team.The main benefit of a Mastermind or Membership business model is that you reach more people than a standard service-based approach. This allows you to get more out of your time, and in turn, create scalable products like courses and programs.

Costs remain low, although you need to place more focus into marketing, branding, and your sales page. This creates both startup and maintenance costs but is still low compared to some other business model examples.This can also become one of the most profitable Internet business models.

Although it isn’t a fully passive venture you can, in time, automate part of your offer and serve your community at a high level without sacrificing all your time.

The other top-performing option is The Online Course or Program Business Model. I know you have been on the receiving end of this model.It’s a lucrative market, too, as the e-learning market is projected to be worth $374.3 billion in 2026.

There are two main types of E-Learning:

The first is the Online Courses model. This approach empowers the student to do all the work on their own.The second is the Online Programs model. This approach provides the student with greater guidance and help.

Overall, an Online Course centers around the content you provide. You create the course content and provide the students with everything they need to do the work. Whereas an Online Program provides further guidance with coaching calls, mastermind sessions, and possibly a membership site/community.

As you may notice, some of these internet business models do overlap and align with one another. You may begin with an Online Course, which in time develops into an Online Program, which evolves into a Membership Site and/or Mastermind Group.

An Online Course is often a great place to begin. You don’t need a lot of experience, and the startup and maintenance costs are relatively lowSo long as you create great content that provides high value, your students will benefit.

There are several benefits to building an Online Course or Program, but the main one has to be the potential of passive income. This is less applicable with an Online Program as that does require ongoing help and guidance. But with an Online Course, once you’ve created the course material, you can deliver it to an infinite number of students.

There are also the benefits of not needing a lot of experience. So long as you provide a course that delivers what your student needs, you don’t need to have years and years of experience and social proof. It’s a great starting point for many budding entrepreneurs. But if you have expertise that can drive content creation for your course or program, you are likely to be much more successful with this model, especially in today’s competitive marketplace.

These business models are all excellent options, but there is another model that has become a dominant driver for some of the most successful companies this decade, its the hub-centric connector model. Notable examples are Uber, AirBnB, Nerdwallet, Bankrate.com, and Tripadvisor, just to name a few. They all have one impactful thing in common. None of them own the assets they make money with. They only connect buyers with sellers. That is their only service. It is one of the dominant business models of our era. It’s the connector business model. They all demonstrate the power of a model called affiliate marketing.

These examples show why the Affiliate Online Business Model is always an attractive option, especially for those just starting out. It doesn’t require you to create a product or service. Instead, you promote other peoples and get a share of their revenue.

The popularity of affiliate businesses seems to be waning for entrepreneurs just starting out, largely because there’s so much competition, and they are usually using outdated strategies that no longer work. However, it remains one of the top business models today simply because it is ideally suited for today’s economy and the buying habits of the consumer.  And if you know the secrets used by top companies like Airbnb , Uber, and others, you can ride the same wave they do. The best news is it requires no experience and has minimal startup and maintenance costs, if you understand the model.

It is difficult to make a lot of money through Affiliates these days if you don’t have the right strategy. But if you do it’s possible to make a great income.So what if I showed you a way to capture the benefits of everyone of the business models we just discussed by fueling them through the power of the connector model?  And show you how to do it without all the downsides?

The model I am about to show you is responsible for the explosive growth of more of the top companies of our age. And not only that, what if I made it easy for you to start your own connector business model without all the headwinds of finding the best products to sell or creating content, courses, programs and the like?

To learn how we do this every day, just watch this…

About The Author
Zemira Jones

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