Everybody tells you something about “the best online businesses” in 2020
But nobody tells you something about the worst businesses you can start in 2020! I don´t want to annoy anyone, but if you are looking to start your internet career right now, you should think about whether the thing you´re up to is a good idea!
That doesn´t mean, that those things I mention below don´t work at all. But at the moment they don´t. Above all this does not mean that there are no ways to make money online!
Okay, let´s jump into this:
Selling high ticket offers:
- people who are selling e.g. online courses or other products for about 500, 1000$ or more have taken a massive hit. Employees all around the world are losing their jobs, so they are saving money for food, the rent and other things they need, but don´t think about buying a course for about 1000 bucks! In uncertain times people don´t take action on certain things like high ticket offers. Even under normal circumstances, it is extremely difficult to sell something like this. Now it´s almost impossible.
Bitcoin trading business:
- My friend Phil has been in my ears for months, I should start “something with Bitcoin”! Trading with Bitcoin (BTC) is no business model. It´s speculation, it´s gambling. At this time he told me about this opportunity 1 BTC equals about 15.000$ or more. Today they have to struggle to keep 1 BTC over 6.500! A huge loss. That does not mean that Trading will not work for a long period. And if you are a professional trader, everything is fine. But most people don´t know exactly what to do. And to start here in such a volatile market now is not a good idea because you can lose a lot of money.
Copywriting, SEO Consultant and Social Media Marketing Agency:
- There are a lot of emails in my inbox telling me to become a copywriter and they offer free courses about this. Copywriters charge a very good amount to write content for any topic. If things are doing well this might be something for you too because if someone is selling high ticket offers he needs to have a good copy to sell those products. But, as mentioned above, expensive products are not currently selling well and there is no money left to hire a Copywriter or it makes no sense to hire if you can´t sell. As a result, orders to Copywriters are decreasing sharply and prices are falling for this service.
- The same to SEO-and Media Marketing Services. Times are rough due to the spreading of the Corona Virus. Shops are forced to close all over the world.
As an SEO consultant, you optimize companies’ website or their social media accounts for better ranking. Social Media Marketing Agents do a similar thing. You contact businesses and get them to pay you a one time or monthly fee to run ads for them, care about their social media accounts and all this stuff. Essentially to get them, clients.
For both jobs, it´s the same at this time. If your clients have to close for 4 to 8 weeks or even more or the profits collapse, they will call and tell you that they don´t want to pay for the service this month, and the next month too. Their websites stay alive and remain in the rankings anyway. Okay, if you offer one time fees you will find some clients. But if you plan something with monthly recurring incomes it´s down for the rest of 2020 I think.
Is there hope?
I didn´t want to discourage you with my review of those “best online businesses” in 2020! I just saw a lot of those opportunities flooding my email account. And I know that there are a lot of people out there thinking about what to do because of jobs and the future is in danger.
And yes, there is hope! Affiliate marketing is still alive and working. Not for high tickets, but for offers from 20 up to 200 bucks. This segment is increasing. Not the same amount or percentage high tickets are going down. But if you want to start an online business in this range you will still make sales. Choose something from “The big three”: love and dating, weight-loss, and online business.
How do I know? I´m in this business myself. My expensive offers are crashing, my cheap offers are still running. And I did some researches. It is the same for other marketers. If you want to start and don´t know how to do this, there are a lot of free courses online to teach you how to do that correctly. My favorite ist Franklin Hatchet. He has great and constantly updated stuff you should check out here. I don´t recommend him because I get some commissions, it´s free stuff!, but because I´ve learned a lot from him.