Best Online Business To Start As A BEGINNER (2024)

Summary

The video script introduces a 'new arbitrage economy' where savvy 20-year-olds exploit market gaps for substantial monthly income, rivaling doctors' salaries. E-Man Gadget, the presenter, offers a four-step system to start an online business with minimal capital, promising transparency and beginner-friendliness. The system focuses on setting up a service-based agency, leveraging 'contractor arbitrage' to outsource work, targeting high-demand niches, and using various outreach methods to secure clients. The script promotes an educational program, 'Agency Navigator,' designed to guide beginners through the process of building a successful ROI marketing agency.

Takeaways

• 🚀 We're entering a new era called the 'new arbitrage economy' where young people are making significant income without prior experience.
• 📈 The speaker emphasizes the potential to start an online business with minimal startup capital and high earning potential using this new business model.
• 🔍 Transparency is highlighted, with a disclaimer that results are not guaranteed but achievable with the right effort and strategy.
• 📊 Various traditional online business models like affiliate marketing, Amazon FBA, dropshipping, and info products are analyzed and shown to have significant barriers for beginners.
• 💡 The ideal beginner-friendly business model should have high unitary gain, low startup capital, high profit margins, high demand, easy fulfillment, and recurring payments.
• 🏢 The proposed business model is a service-based business that clients are willing to pay substantial recurring monthly fees for, with minimal startup costs.
• 🌐 The speaker suggests selling ROI marketing services to local businesses and leveraging contractor arbitrage to handle service fulfillment.
• 📞 Outreach is crucial, with a focus on finding clients through various methods like cold calling, email, video audits, and social media outreach.
• 🔧 The speaker's four-step process for building a successful agency includes setup, picking a niche and service, arbitrating contractors, and reaching out to clients.
• 🎓 The program 'Agency Navigator' is introduced, offering comprehensive training, templates, tools, and community support to help individuals build a profitable marketing agency from scratch.

Q & A

What is the new arbitrage economy mentioned in the script?

The new arbitrage economy refers to a shift in business practices where individuals, particularly young entrepreneurs, are capitalizing on market inefficiencies and changes in the way people buy, work, and live to earn substantial incomes with minimal startup capital and experience.

What is the significance of the 'four-step plug-and-play business model' mentioned by E-Man Gadget?

The 'four-step plug-and-play business model' is a method designed to help beginners start an online business with virtually no startup capital. It is a simplified, step-by-step approach that can potentially lead to significant earnings within weeks and is based on the new arbitrage economy.

What are the key metrics used to evaluate the beginner-friendliness of an online business model?

The key metrics include unitary gain (how much money made per transaction), startup capital (initial investment required), profit margins, demand (number of potential customers), fulfillment (process of delivering the product/service), and deal type (one-time payment or recurring revenue).

What is the main advantage of affiliate marketing according to the script?

The main advantage of affiliate marketing is that once the sale is made, the affiliate marketer does not have to do anything else in terms of fulfillment; the owner of the product takes care of it.

What is the main challenge faced by businesses in the new arbitrage economy?

The main challenge is the transition to online operations to survive and thrive. Many businesses are struggling to adapt to the shift in consumer behavior and need help selling online, which creates a demand for online marketing services.

What is the ideal beginner-friendly business model according to the script?

The ideal beginner-friendly business model is a service-based business that charges recurring monthly payments of $1,500 to $10,000, with minimal startup capital, high profit margins, high demand, easy fulfillment, and a recurring deal type.

What is the role of 'contractor arbitrage' in the business model presented by E-Man Gadget?

Contractor arbitrage involves hiring contractors to fulfill services for clients at a lower cost than what is charged to the client. This allows the business owner to offer services without having to perform the work themselves, reducing risk and increasing profit margins.

Why is the demand for ROI marketing services high according to the script?

The demand for ROI marketing services is high because many businesses, especially those that have been forced to move online due to the pandemic, are looking to increase their online presence and sales but lack the expertise to do so effectively.

What is the significance of choosing the right niche and service when starting an ROI marketing agency?

Choosing the right niche and service is crucial because it affects the ease of acquiring clients, the amount that can be charged for services, and the potential for scalability. It's important to select a niche with high average revenue and high average order value to ensure a good return on investment for the client.

How does the 'Agency Navigator' program help individuals build their own marketing agency?

The 'Agency Navigator' program provides over 40 hours of step-by-step training covering every aspect of building an agency from scratch. It includes phases on setting up the agency, mindset, systems and processes, finding leads, sales, service delivery, and operational supremacy, along with access to tools and a private mastermind community.