The #1 Best Online Business to Start as a Beginner (2024 Side Hustle)

Summary

This video script offers a comprehensive guide to drop servicing, a beginner-friendly online business model. It emphasizes using platforms like Fiverr to source services at low costs and resell them at a higher price for profit. The speaker shares personal success stories and strategies for finding clients through social media, and stresses the importance of selecting reliable suppliers with high ratings. The script also covers various niches for potential services, from video editing to logo design, and highlights the significant profit margins achievable with this method.

Takeaways

• 😀 The best online business for beginners this year is drop servicing, which involves reselling services found on platforms like Fiverr.
• 📈 The speaker has a community of over 40 people who have made money using his drop servicing strategies through his videos.
• 🛠 The primary tool for drop servicing mentioned is Fiverr.com, a marketplace for freelancers offering various services.
• 🔄 A key method of making money in drop servicing is by creating gigs on Fiverr and reselling services from other sellers at a higher price.
• 📝 Another approach is to find clients directly, such as through social media, and then source the services needed from Fiverr or similar platforms.
• 📈 The speaker emphasizes the importance of choosing a niche and understanding the services you will provide within that niche.
• 🤝 Building relationships with good suppliers on Fiverr is crucial for the success of a drop servicing business.
• 💰 The potential for profit in drop servicing is significant, with examples given of earning substantial margins on services like video editing and logo design.
• 🔍 Finding clients is a broad topic, and the speaker suggests watching more in-depth videos for strategies on client acquisition.
• 🏆 The speaker offers a three-month mentorship program for those interested in learning drop servicing from start to finish.
• 🌐 The drop servicing business model is presented as a realistic and legitimate way to make money online, with proof provided by the speaker's community.

Q & A

What is the best online business for beginners according to the video?

The best online business for beginners mentioned in the video is drop servicing, which involves reselling services found on platforms like Fiverr.com.

What is Fiverr and how does it relate to drop servicing?

Fiverr is a website where millions of freelancers offer their services. It is related to drop servicing as it is a platform where you can find suppliers to resell their services to clients at a higher price.

How can one make money with drop servicing on Fiverr?

One can make money by creating Fiverr gigs listing specific services at a certain price and then ordering the same service from another seller on Fiverr at a lower price, thus profiting from the price difference.

What is the passive way of making money with drop servicing?

The passive way involves posting listings and gigs on Fiverr and waiting for orders to come in, then fulfilling those orders by ordering from another seller on Fiverr at a lower price.

What is the active way of making money with drop servicing?

The active way involves directly contacting clients, such as small businesses or content creators, and selling them services at a higher fee than what you would pay to the supplier on platforms like Fiverr.

What are some of the services that can be resold using drop servicing?

Services that can be resold include video editing, thumbnail design, logo design, web design, and ad campaign management for various platforms like YouTube, Instagram, TikTok, and Facebook.

How can one find clients for drop servicing?

Clients can be found by reaching out to potential customers on social media platforms like YouTube, Instagram, TikTok, and through methods such as running Google, Facebook, or TikTok ads.

What is the importance of choosing a good supplier in drop servicing?

Choosing a good supplier is crucial as they are responsible for delivering the quality service to your clients. It is important to select suppliers with high ratings, numerous reviews, and a proven track record to ensure client satisfaction.

What is the suggested profit margin when reselling services in drop servicing?

The suggested profit margin varies depending on the service, but generally, it should be at least two times more than what you pay the supplier. In some niches, margins can be even higher, up to 5 to 10 times the original cost.

How does the mentor mention in the video help people with drop servicing?

The mentor provides a three-month mentorship program where they teach drop servicing from A to Z, including how to choose a niche, get clients, and create offers, all delivered through one-on-one video calls.

What is the final step mentioned in the video for successfully executing drop servicing?

The final step is to order the service from the chosen supplier on Fiverr after receiving a deposit from the client, then download the completed work and deliver it to the client while asking for the final payment.