How To Find Online Business Models To Use Right Now (Post-Pandemic)
How To Find Online Business Models To Use Right Now (Post-Pandemic)
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With the onset of the Coronavirus pandemic there has been a dramatic effect on many businesses throughout the world, which is still ongoing.
In this article, we will attempt to explain and identify business models that are available now and which you can use in order to perpetuate and develop your own business online, ie How To Find Online Business Models To Use Right Now (Post- Pandemic).
Essentially what you need to do (whichever business you are in) is to follow the simple 3 step process as follows:
1) Identify something to sell (either a product or a service).
2) Make A Website (arguably this is not essential, even for Affiliate Marketing).
3) Find Traffic (that is you need an audience to sell your product or service to).
Taking the First of These – Identify Something To Sell – Your Product Or Service
You can either sell your expertise and time for a price.
Alternatively, you can sell a PRODUCT, which may be a physical product or may be a digital product.
Examples of digital products that you can sell are such things as:
1) A book, or an ebook
2) An online course, which could be in written form, or audio or video.
3) Other peoples products, either physical or digital, using Affiliate Marketing so as to gain a commission.
4) Services – which could be anything from gardening or labouring to legal or specialist expertise, including selling your expert digital marketing knowledge in the NEW ECONOMY (POST PANDEMIC).
Under this latter heading, you could also sell Software As A Service (SAAS), for which you could be paid a subscription, every month, or annually. Sometimes these may be sold from a membership site.
You will need to think about what services you may be able to provide REMOTELY, ie not requiring a personal face to face visit.
How To Find Online Business Models To Use Right Now (Post- Pandemic).
What exactly are you looking for with your new business in the POST PANDEMIC ERA? How much personal contact do you want with your customers or clients?
PRIMARILY you will be looking for PROFIT. There would be no point in going to a lot of effort and expenditure of time and resources if at the end of the day there were no personal gain to be made from it.
Secondly, you would be looking for GROWTH, since in the future you would usually want to expand your business, and make it more profitable, assuming it provides a service which is in demand, hopefully, there would be more people who would be interested to take advantage of it.
You may want to PRIORITISE YOUR EXPERTISE so that you provide a range of products or services, and you would focus on the most profitable of these, which could well be your expertise.
If certain markets are declining, then you would want to possibly withdraw from those markets, whilst keeping an eye on possible opportunities in new markets. Examples of declining markets are TV repairs since it is relatively cheap to buy a replacement television, rather than repair an old one with old technology and lack of easy availability of parts. Similarly, thatch roofing is another trade that is in decline, as the number of thatched-roof cottages is gradually diminishing. However, since such skills are rare, then thatch roofers can command a premium when their services are in demand.
Opportunities occur when people NEED to do things in order to solve a problem or ease a pain point that they have in their lives. So bricks and mortar businesses who are seeking to adapt their business to working in the online world, even more so, post-pandemic, may require such services as:
MARKETING SUPPORT – websites, videos, Social Media content are all essential for maintaining an online presence. If you have the skills or can provide such skills, to solve their problem, then customers will pay a premium in order to ease their pain points.
Where there are shortages in the supply of equipment or services which are in demand, then this provides an opportunity to earn a premium from such shortage in market supply, the laws of supply and demand dictate that in such circumstances the price of the scarce resource will rise.
if you are unsure whether your product or service will be in demand, then you can test the market with a trial campaign first. This ensures that you do not waste your time and money on something which is not in demand.
You need to be sure that the product or service which you offer will be in demand, and also that people will be prepared to pay for it. If there is a lot of free information available already then it will be difficult to find an audience of people who will pay for such information.
Where are the best markets?
You can find out such information from Google search of such questions as:
What are the fastest-growing hobbies in the UK?
Beekeeping is one of the fastest-growing hobbies.
Another rising hobby is that of keeping chickens at home.
Find out what are the essentials of such a hobby, and what are the market prices of the necessary items, then see if you can offer a competitive product or service.
There are lots of opportunities are a result of the changing market place and way of life.
Things which may become more in demand could be:
Electric vehicles, small carts or scooters and bicycles.
Home automation.
Spread betting
Relevant technology for COVID 19 testing, obviously.
Supplies such as medical gloves and masks and gowns and even respirators will continue to be in short supply and therefore high demand for a considerable time to come.
There is always new legislation coming about, and opportunities may arise as a result of this. For example, Permitted Development Rights on certain classes of building such as industrial and commercial and farm buildings make the conversion to residential dwellings easier, which give lots of development opportunities.
Restaurants and shops which are struggling in the current economic climate may present opportunities for conversion to other purposes as well.
Will, there be an increase in demand for take away food in the future, and will this make it easier to offer higher quality cuisine on a takeaway basis.
Conversely, there may be a further decline in the demand for luxury items which could be regarded as non-essential in what will clearly be a very demanding period of reduced demand and worldwide recession for the next few years.
With many people exposed to existing high borrowing, and possibly losing their job in the current COVID 19 crisis, and its aftermath, there will be a highly stressed financial situation. People may default on their loans and mortgages, and there will be a high demand for finance and re-financing products and services.
These are challenging times and there will be many opportunities made as a result of the COVID 19 situation, and its aftermath, which will have far-reaching effects on our society for many years to come. We hope that you enjoyed our article about How To Find Online Business Models To Use Right Now (Post Pandemic). We will write other articles tat are on the them of
Click here if you would like to buy: How To Find Online Business Models To Use Right Now (Post-Pandemic)
Wow! An amazing review you got there!
Been thinking about the kind of business to go into in the period we find ourselves and this review have been really helpful!
I will do a research on a good physical product to sell online and creating a website for it.
Thanks so much for this review. I really appreciate.
Hi Lizzychris, thank you very much for reading the article and taking the time to comment. Good luck with your research and finding a good product to sell online. Recent thinking from one guru who I follow has been to get a low cost (non profit making) doorbuster offer, followed by a single upsell of a useful product, so it is a 2 step funnel offering great value, and you make your profit on the upsell. cheers Alan.
Hi There,
Finding a product that is high demand is quite hard these days as mentioned in your review. I feel there are a lot of good points in your review and some that made me really think. I was thinking about when a market changes and less people are interested to change niches but for me I’ve spent so much time on my one project that you are correct in saying sometimes it’s better to move on. Great Review!
Jonah
Hi Jonah, Thank you very much for reading the article and taking the time to comment. I think that if people are interested in your offer they will respond, it is no use to keep pushing something if it is not of use to people. There are lots of different products and services out there, and you will find something which clicks, cheers Alan.
Hi, thanks for sharing this article about online business models which you can use right now . This article is really and educative and informative article. I have learnt a lot from this article on how I can use models to improve my online business and I will to put it into practice. Thanks for sharing once again.
Hi Sophia, Thank you very much for your comment, and i wish you success with improving your business too, cheers Alan.
Thank you for this good information on what we should be considering in relation to setting up our own online business.
You have given a good comprehensive list of ideas, so there should be something there that will suit everyone, whether it is an ebook, or selling products and those others in-between.
I think that it is very important as you say to stay with the market and know when to move on. I also take your point on testing the market first.
Hi Geoff, Thanks very much for taking the time to read our article, and also for your helpful comments, Cheers Alan
I find that there will be some big changes in the economy post pandemic. And the best way to get prepared is to be online. I have been researching how to open my business online and I’ve begunb to give my first steps. It takes a lot of work to get things rolling. But I am exicted about the out come and don’t want to quit.
Hi Abel, I think you are absolutely right and I am developing my online business in several areas. Thanks for taking the time to comment, Cheers Alan
That’s a great list of businesses that we can start right now and begin our journey in the online world. I think pretty much everyone has dreams of making it big in the online world these days. And the only way to do that is to START. I will take your advice and go in for a Blog. Let’s see how it works out. And yes, I do understand that there are no free lunches. It will be hard work.
Thank u for this inspiration.
Regards,
Aps B
Hi Aparna, Thank you very much for your comment and thoughts. I started this blog a few years ago and recently have increased my activity as a result of which my site health is much better. There is plenty of material to provide to support new online business owners, cheers Alan
Hi there — I hope I do not offend you but I am going to go ahead and point something out to you that has made it impossible for me to read your article. The “Do Something Great” banner that repeats across the screen and continues below when I scroll down, completely blocks me from being able to focus on what seems like a very good article.
From what I can see, you have an interesting topic and have gone to a lot of trouble to explain the business models you can use right now. But that “Do Something Great” banner keeps blocking what I am trying to read every time it gets interesting.
Please check the “appearance” section of your website and use the “customize” controls. You will be able to see the effects of every change you make right after you make them. Then you will be able to find a way to show the “Do Something Great” banner without blocking people like me from following what you have to say.
Good luck with your website!
Lisa
Hi Lisa, thank you very much for taking the time to comment and give me that feedback. I knew I needed to sort it out but have been swamped recently so not yet done it. Thanks again for reminding me, cheers alan
I have to say that the global pandemic has hit us all really hard especially in my family and now that things are starting to open up, I would to make as much money as I can. Thanks for sharing the ideas on way to make money. The ebook is an interesting one, not sure if I can write that good but it doesn’t hurt to try. Will try all the tips you suggested.
Hi Nuttanee, Thanks very much for taking the time to comment. I am sorry to hear you have been hit hard by the pandemic and I really wish you God speed for a quick recovery. I will share as much as I can of stuff that works, because I have tried out a lot and there is plenty of BS out there too. Good luck, Alan.
This is what I love about the online world, there are so many opportunities out there where you can start any type of business just about from the comfort of your home. It is so good to know that you are making available to us what we need to be able to find what business model we are looking for in the online world. Thanks again and all the best to you.
Hi Norman, Thank you for taking the time to drop by and comment. You are right there are lots of opportunities for everyone, no matter which business model they may choose, cheers Alan