What are the Best Business Ideas in the current economy?
During times of recession, starting a business from scratch or buying a franchise has been the way out for those people who have lost their regular job or have become frustrated with stagnating or lower salaries while the general cost of living increases. But what are the best business ideas in this current economy?
There has been a huge shift to people buying products and services online. ComScore.com, a leader in measuring the digital world, has reported that the holiday season online retail spending for 2012 was a 16-percent increase over 2011. This includes November 26 (also know as Cyber Monday) which became the biggest online spending day on record at $1.4 billion.
This surge of billions and billions of online spending being transferred from brick and mortar stores to the internet has created an incredible opportunity for business entrepreneurs who are looking for the best new business ideas
Top Small Business Opportunities
Over the last five years there has been a dramatic increase in the number of people looking for ways to “make money” outside of the traditional marketplace. Some of the best business ideas are now on the internet.
Since 2007 the number of people searching the internet for ways to “make money” has more than doubled to over 5 million per month. (Source Google.com/insights).
There has been a dramatic increase in the number of people starting new businesses and these companies will need to have an online business presence if they are to survive.
But how do successful small business ideas become a reality online? Do you just build a website and hope that the customers will come? There are millions and millions of websites online and all fighting for attention. The only way to survive in the highly competitive online business world is to be trained on how to use it to your full advantage.
Top Business Ideas
If the most successful small business ideas are now on the internet, new online entrepreneurs need to learn how to set up and earn from their online businesses. As with any business, whether it is offline or online there are a number of factors to consider:
- Why have you created a new business?
- What are you going to sell or provide?
- Who are you going to sell your products and services to?
- How will you get your message about your new business to your target audience?
- Who are your competitors?
- What is your budget for marketing?
- How will track the effectiveness of your marketing?
- How will you get your customers to buy from you again?
Successful Small Business Ideas
A starting point for top small business ideas is through online affiliate marketing. This is because it requires no experience, no stock and simple promotional techniques that will convert prospective buyers into customers. Your job is to promote products and services of online vendors by pushing prospective customers to their website. When somebody buys a product or service, and if they have been referred there by you, the vendor will pay you a commission
To drive potential customers to the vendor website, there are various marketing methods that you can use. These are both free and paid for methods. One of the best business ideas which is free comes from people who have a love of a particular subject and set-up an online blog about that subject. As their online readership grows from other people who are also interested in the subject, the blog writer can start to recommend or promote products and services to his readers. When a reader buys the product via the blog, the writer gets a commission! It has not cost the writer any money to get that sale other than the time to set up and create a popular blog.
This is free method for online business ideas, and will take some time to gain momentum. For a quicker result, you will have to invest money in marketing, such as pay-per-click advertising, online banner advertising, solo ad marketing or ezine advertising. For more information on these methods, please refer to my other articles on these subjects.
When the best business ideas are put into action there are a few risks, even during the best of times. But, if you have a great business idea and are willing to take a few risks, then setting up an online business during a recession could really play to your advantage.
The Best Business Ideas and the Formula for Success
The best business ideas need a solid business model, a clear direction, training and determination.
- Powerful potential money generating income streams with quality affiliate products, residual income streams, and high ticket items.
- Simple, step-by-step instructions showing you exactly how to start the best small business ideas online
- A state of the-art marketing system which includes your own website, blogging platform, a pre-written email series, practical videos and reports, sales funnels and even a call centre to close sales for you.
- Cutting edge marketing and business training to help build the best business ideas and access to an interactive global community where there are always other members online to help you.
To find out more about the best business ideas for 2013, just click here.