In this episode of FLOW, host Arman Assadi shares the 5 online businesses that he believes hold the most significant opportunities and profit in 2020.
1. Freelancing: This world is more wide open than it’s been before. It’s an online business that has low overhead and a high possibility for profit. Everything from new entrepreneurs to big companies are freelancing work out creative and technical work. Pick a niche and double down on it.
2. Courses: The days of high level, high ticket courses are mostly over. You can turn your expertise into a digital course and have an asset that sells forever. Create free content, and expand on it with paid, low ticket, courses.
Your classes should lead to a subscription service that offers current live content. Give consistent value
3. E-Commerce/Amazon: Purchase products that are similar to what you want to make, decide what you like or don’t like about them; use that as your prototype. Shopify is a great platform to start your business. On the other hand, you can use Amazon, but it isn’t easy dealing with them.
4. SaaS: There is a ton of information on Software as a Service. There is an extremely high possibility for profit, but it does take a lot of money on the front end. Find an underserved market with a problem, and this begins your building process.
5. Content Creation: Blogging, vlogging, podcasts, these are all forms of content that can be small businesses. You’re building a brand and marketing any other products and services.
Bonus: Arman also adds a short sixth bonus business that can be profitable in 2020.
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