With 2021 right around the corner every entrepreneurial minded person is looking for ways to improve their passive income or for successful business models for 2021. Here is the list of businesses that we think is worth your time and energy.
It has been discovered that most people struggle when it comes to investing in the right business models. As a matter of fact, this is the major reason why over 90% of businesses are going out of business in recent times. As simple as it may sound, delving into the right business is very crucial for your long term success especially when you plan on building a brand.
Are you searching for a reliable and successful business models for 2021? Do you know that most business models are not worth your time and money? The reason is simple as the majority of them are only a recipe to incur more losses. It is true that 2020 has been quite disappointing based on the fact that you chose the wrong business model to invest in.
Here is the great part
You have come to the right place today. This post will be revealing some of the best business models for 2021 that you can try. These businesses have been tested and proven over the years. They can help you achieve financial freedom. Just choose any of the options below and you are good to go in 2021.
1. Affiliate marketing
Affiliate marketing is one of the best internet businesses you can delve into in 2021.This business is all about promoting the products of other companies for some commissions. When someone buys through your link, you will earn a commision. Delivering high traffic to a trusted company can result in a big profit.
For instance, there are vendors which pay as high as $25-$30 for every sale you make. There are some that even pay more. Have you ever imagined that it is possible to make about 50-100 sales from the comfort of your home? In order to be successful in this business, you need to find winning offers to promote. These are products with great landing pages, high payouts and premium promotional tools.
How does it work?
In order to promote a company’s product you need a place where you can promote it. You can do that on your own website, YouTube channel, Facebook group, Instagram and pretty much everywhere where you can put a link to the company that you are promoting. Lets say you have a YouTube channel.
If you are getting a lot of views( there is no precise number, because every company has differnt expectations) you can go to a companys website and search for an affiliate program. If they don’t have one don’t be afraid to email them and ask. When they approve you, they will give you a link that you can put in you description below every video. Your profit comes from people who click on the link and end up buying something from the company within 30 days(usually). You are payed a commission based on their purchase. Usually this commission is between 10 and 50%.
The same practise can be applied if you have a website, if you are admin of a Facebook group or even in Instagram stories. But remember that Instagram stories require 10,000 followers in order to put your link with the “swipe up” option.
If you don’t feel like reaching out to companies by yourself, there are plenty of affiliate platforms where you can register and apply to multiple companys. Here are some:
An important thing to keep in mind is that you have to promote products that your audience is interested in in order to be successful. For example, If you have a youtube channel about cars your audince probably won’t be interested in ads for kitchen appliances.
The world of freelancing is getting more competitive. This is because most people are beginning to discover how profitable it can be to monetize their respective skills. Do you know how to build professional websites from scratch? It could be skills like professional logo design, copywriting, data entry, virtual assistant, video editor, translator, software developer and more.
There are people waiting to pay for such skills on various platforms. As a freelancer, you have the chance of earning around $2000-$3000 every single month. All you have to do is master a particular skill and begin to render services on such. You will be amazed at how this business can help you achieve financial freedom within a short period of time. The best part is that you don’t need to come in physical contact with potential and existing clients.
3. Arbitrage business
Arbitrage is one of the easiest businesses you can start in the year 2021. One benefit of this business is that its earning potentials are limitless. For instance, you can earn up to $10,000 brokering deals. It all depends on your level of commitment. It is a business especially for those who feel too lazy to develop one skill or another.
All that you have to do in this business is search for companies which want one or two services rendered. After that, look for freelancers that can render such services at a price that is lower than what you have bargained with the company. For instance, if the company is willing to pay $100, you can look for a freelancer who wants to render such services for $35. It means you have made a profit of $65.
4. Real estate
Real estate business is a multi-billion industry that anyone can take advantage of. The problem is that most people believe this business is only for millionaires. There is always the wrong mentality that a huge amount of capital is always needed. However, the only capital which may be required to make money from this business is dedication. That is remaining committed until you start seeing results.
Most of the successful business people in real estate started without a dime. Today, they are celebrated millionaires. You can easily copy their blueprint for success. This business entails brokering deals for people. For instance, you can play the role of a real estate agent who searches for people that want to purchase properties. You will be paid commissions after every successful transaction.
There are people who have become millionaires through this business. Imagine brokering a deal that commands $10,000 agency fee. Doing that only 2 times a month means you have earned $20,000.
5. Product reviews
Do you know that companies are willing to pay very high fees in order to get your expert opinion about their products? Product review business is an evergreen model since new products are being released on a regular basis. The best part is that you can start today without investing a single dime.
The first step to take in order to get started is setting up a website. Now, start driving targeted traffic to the website. Write reviews about products that have been released into the market by companies. There are different categories you can write about like health, make money, home décor, electronics, and more.
There are websites you can signup with online to allow companies locate your review site. The key thing to making this business work is driving as much traffic as you can to your website. There are companies who are willing to pay up to $500 for a single product review. If you can have 4 of such companies, that is $2000 per month. It is a passive income business.
6. Social media influencer
A few years back, most people kicked against what the social media platforms have got to offer. Today, it’s a different story entirely as these platforms boast of the highest number of registered members. For instance, Facebook has over 2 Billion members. The same can be said of Twitter, YouTube and Instagram. This gives you the chance of starting an influencer business in 2021.
As an influencer, you will be commenting on products of companies in order to help them build trust. This business takes time since you will need to build a loyal audience first before promoting brands. However, it can help you to become financially independent.
Imagine a company paying up to $10,000 just to announce its products to your Facebook audience. Even if it is $1000, you can easily make up to $20,000 every month from this business with the right amount of followers. If you are advertising a quality product, it is always a win-win situation since you and your audience are happy. Also, the company is happy with having its products or brand promoted.
Do you have knowledge that others can benefit from? One of the benefits of being an instructor is that you don’t need to be a professor before your knowledge can add value to lives around the world. It could be how business owners can succeed, women can lose weight, couples can live happily ever after, people can start making money online or even develop a particular skill. The sky is your limit as an instructor since you can teach anything in exchange for money.
Think about this for a second. No one will want to give out his or her hard-earned money except you have something that they consider to be useful. As an instructor, you can put your knowledge into any format like video, audio or even E-book to sell. There are various platforms on the internet that allows people to upload their courses for a particular price. Everything will be managed on your behalf.
Imagine selling a course for $40. It means that if you can sell up to 100 copies every month, that is a total of $4,000. Do you want to know the best part? It is the fact that such courses will sell for years to come. You can even organize paid seminars to share such knowledge.
Dropshipping became a really popular business model in recent years. You are probably wondering why everyone is trying to push dropshipping courses down your throat as ads on every social platform.
This is because it’s a business model that doesn’t require a big starting investment and you don’t physically own any of the products you are selling. Said as simple as possible, dropshipping is creating your own website where you sell a certain product or a couple of products. These products can be found on websites like aliexpress for way cheaper than the price you ask on your website. Here is where the magic happens.
A person comes to your website and he decides to buy a certain product. He writes down his shipping address and clicks buy, the transaction is done and he/she waits for his product to arrive. You on the other hand receive their shipping addres and use it to buy the item from aliexpress for a fraction of the price that the user paid you. They ship the product to your customer and you collect the margin.
Of course this is said as simple as possible and you have a lot to learn before being profitable but we just wanted to give you an idea of this business model.
9. Cleaning service
This business model may sound odd to you. However, there are people making thousands of dollars every month. There is no special skill required as everyone knows how to clean already. As a cleaner, clients will be hiring your services from various locations. It is a business that will grow as time goes on. You only need to have all the cleaning tools and equipment ready to make the process as smooth as possible.
In order to make this business grow, it is important to advertise your services. This will help to create that awareness amongst people. Depending on the location, you can charge from $50 and above. In your first month, it is possible to make up to $2000. This business is highly rewarding once you can get it right.
Based on the above, it can be seen that there are numerous successful business models for 2021 that you can choose from to achieve financial freedom. The options revealed here have helped lots of people over the years. They are proven businesses with high profit potential. They are not just about building wealth but also a brand.
Important thing to keep in mind is that no matter which business you pick, you have to provide value to your customers in order to be profitable. Don’t pick someone just for the money. Pick something that appeals to you and you are happy to do it even until it is profitable.