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January 19, 2021 18 min

How many times have you said that you were going to start your own business, only for life to get in the way? The key is to keep trying. It’s not too late to get your business started. In this episode, I’m going to tell you about the 5 best business types to start in 2021 so you can figure out which one is right for you.

Ecommerce is a great starter business. You sell products online and build a customer base. The downside of this approach is that there is not much profit, but it does help you to learn about systems. The second business type is offering productized services. For example, you offer marketing services to other business through a standardized process. If it can run without you being there, then it’s a business.

Affiliate marketing is essentially acting like a sales rep for products and earning commission on sales, though it does provide lower margins than owning your own business. Next up is coaching, a business that has been expanding for the last decade. You can charge premium prices, but it is a time consuming and less scalable option.

The final business type is offering digital products, such as courses. This is an approach for you if you have already perfected a process and can distill it into an online course for people to follow. While this is a somewhat easier approach, it is harder to sell because people want that personal interaction they get from coaching.

Finally, if you are looking to start your business in 2021, do what interests you. Remember, if life gets in the way, just come back. The best day to start is today.


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