Best Online Business To Start As A BEGINNER (2024)

 The article 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 Article 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.

Keywords

💡Arbitrage Economy

The term 'Arbitrage Economy' refers to a new economic paradigm where individuals capitalize on price differences of assets or services between markets to generate profit. In the video, it is mentioned as a way for young individuals to earn substantial income without traditional work experience. The script illustrates this concept by describing how people are leveraging the new economy to earn as much as doctors, by taking advantage of market inefficiencies.

💡Online Business

An 'Online Business' is a commercial enterprise conducted over the internet. The video emphasizes the importance of starting an online business with minimal capital and how the new arbitrage economy facilitates this. It is a key component of the video's narrative, showing how individuals can generate income through digital means, as opposed to traditional brick-and-mortar businesses.

💡Plug-and-Play

'Plug-and-Play' in the context of the video refers to a simple, ready-to-use business model that requires minimal setup and can be quickly implemented to start generating income. The script mentions a 'four-step plug-and-play business model' that is beginner-friendly and can be used by 20-year-olds to achieve high earnings with little to no prior experience.

💡ROI Marketing Services

ROI stands for 'Return on Investment', and in the video, 'ROI Marketing Services' are services that provide a measurable return, typically in the form of increased sales or leads for a business. The script explains that these services are in high demand and can be sold to local businesses or e-commerce brands, with the service provider earning a recurring monthly income.

💡Contractor Arbitrage

In the video, 'Contractor Arbitrage' is a strategy where the business owner hires contractors to fulfill services for clients at a lower cost than what is charged to the client. This allows the business to operate with high profit margins and without having to manage the service delivery themselves. The script provides examples of how this can be applied to earn significant income with minimal risk.

💡Recruiting Contractors

The term 'Recruiting Contractors' in the video refers to the process of finding and hiring freelancers or independent professionals to carry out the service delivery for the business's clients. The script discusses how to find these contractors online, particularly through social media platforms and professional networks, and the benefits of doing so, such as cost-effectiveness and access to a global talent pool.

💡Outreach

'Outreach' in the video is the process of actively contacting potential clients to offer the business's services. The script covers various methods of outreach, such as cold calling, email, and social media, and emphasizes the importance of this activity in securing clients and generating revenue for the business.

💡Niche Marketing

'Niche Marketing' involves targeting a specific segment of the market that has particular needs or interests. The video script advises choosing a niche where businesses already have a high average revenue and are likely to pay for marketing services. This strategy is crucial for the success of the business model presented, as it helps in identifying clients who can afford and benefit from the services offered.

💡Service-Based Business

A 'Service-Based Business' is a type of enterprise that offers intangible products, such as consulting, marketing, or any other service that does not involve physical goods. The video script promotes a service-based business model where clients pay a recurring fee for marketing services, which can be scaled and managed remotely with the help of contractors.

💡Passive Income

'Passive Income' refers to earnings generated with little to no effort by the individual after an initial setup. In the video, the business model described aims to create a passive income stream by establishing a system where clients pay a recurring fee for services that are largely fulfilled by contractors. The script mentions how this can lead to significant monthly income with relatively little ongoing work.

💡Digital Marketing

'Digital Marketing' encompasses the various efforts to promote products or services through digital channels, such as social media, search engines, and websites. The video script discusses digital marketing services like Facebook ads, SEO, and email marketing as examples of the types of services that can be offered in the business model, which are in high demand and can generate a substantial ROI for clients.

Highlights

Entering a new era of the arbitrage economy where 20-year-olds can earn as much as doctors without prior work experience.

Introduction of a four-step plug-and-play business model for beginners to start an online business with minimal capital.

Transparency about the potential for varied results and the importance of a creator's reputation for honest communication.

Case studies of individuals achieving significant income within months using the presented business model.

The importance of choosing a beginner-friendly business model to increase the chances of success.

Evaluation of business models based on six metrics: unitary gain, startup capital, profit margins, demand, fulfillment, and deal type.

Analysis of common online business models like affiliate marketing, Amazon FBA, dropshipping, and info products, highlighting their challenges for beginners.

The concept of 'contractor arbitrage' as a strategy for success in the new arbitrage economy.

Emphasis on the high demand for online marketing services and the opportunities for beginners to provide these services.

The strategy of selling ROI marketing services to small businesses and having contractors fulfill the services.

The four-step system to build a successful ROI marketing agency within 90 days.

The process of setting up an agency, including choosing a name, domain, and business email.

Selecting a profitable niche and service based on the client's revenue and your understanding of the industry.

The advantages of hiring experienced contractors from around the world for service delivery.

Strategies for finding and hiring contractors, including leveraging Facebook groups and other online platforms.

Outreach methods for potential clients, including cold calling, email, and social media tactics.

The 'Targeted Loom Plug-and-Play' system for sending video audits to prospects as part of the outreach process.

The importance of charging what you're worth based on the value provided to the client, not the cost to you.

Agency Navigator program overview, providing a comprehensive learning experience for building a successful agency.

The components of Agency Navigator, including training phases, tools, community access, and live Q&A sessions.

The pricing strategy and commitment to making the program accessible for beginners, with a special lifetime access offer.