2020’s Best Online Business Ideas – Top 10 Lifestyle Businesses Revealed.

Articles, Blog

2020’s Best Online Business Ideas – Top 10 Lifestyle Businesses Revealed.

2020’s Best Online Business Ideas – Top 10 Lifestyle Businesses Revealed.

Hey, Miles here, milesbecker.com… This video reveals the top 10 online businesses
to start for 2020! We’re going to go through a full list which
has been updated since the last video I did on this topic and it’s updated specifically
for 2020. Platforms are changing… User behavior is changing… Trends and competition are changing. Therefore, the top 10 list is changing! It’s important to keep in mind before we get
started that a successful business and ultimately you making money online is a result of you
giving value to your audience. Okay? You need to scale your audience, which means
you can give little bits of value to millions and millions of people or you can give large
chunks of value to smaller and smaller amounts of people, but just starting a business is
not enough. Make sure you keep in mind that it’s all about
your audience giving value to them growing your audience. That’s really what you need to focus on within
this. Also, one note, one more note before we get
into it. Um, over the course of growing a successful
business online, I’m talking to the three year, five year, 10 year plan of you growing
this. You’re probably actually going to be earning
income from several of these. Uh, my wife and I enjoy multiple streams of
income and you’ll get there as well. What I’m trying to give you is a starting
point. If you haven’t started. So don’t feel like you have to choose one
and you’re limited to one because again, back to that audience idea. Why don’t you have an audience of people who
know you, they like you, they trust you, they’re on your email list. You can leverage different one of these with
the same audience effectively stabilizing your income stream. So without further ado, let’s jump into the
top 10. Um, ah, one more caveat. I apologize. This is ranked for me. You might have professional experience, you
might have personal experience, you might have certain skills that would make something
I put in number five or six, your number one. So don’t, don’t, here’s your grain of salt
with this. And on that note, now we’re into it. So number one is information products. Now I still love selling information products. My wife and I’s business, that’s one of the
biggest things we sell. Downloadable MP3s, downloadable PDs, streamable
video courses. The reason I really like these is the very
high margins, but one of the challenges is there’s kind of a high barrier to entry. You have to be able to help people get results
in their life already before you can start creating online courses. Okay. If you can’t help women in their 50s lose
10 pounds in 30 days, you shouldn’t be making a course about how to help these women lose
weight. There’s other options for you, if that’s your
passion though. Um, I also think that the world of self education
is growing and will continue to grow. I think more and more people are looking at
the internet, looking at individuals like myself and like you, to help them learn that
professional skills and the personal skills they need to earn more income or to live a
more fulfilled life. So I think it’s a growing area and the really
high margins make it very, very worth your time. But again, you kind of need to be an expert,
which leads us to number two. What if you’re not an expert? What if you’re committed to becoming an expert
in something, but you’re not quite there yet? Affiliate marketing is a fantastic business
model. It’s my number two on this list because it’s
so beginner friendly. And as an affiliate marketer, what you do
is you actually go create the audience, you create helpful content, you build the relationship
with the audience, and you help that audience get what they already want. You help that audience get the things they’re
going to purchase anyways through your affiliate links. But that all happens after you grow the audience
and after you build trust with them. So it’s a way to start very low upfront costs
and a lot of energy. Um, and ultimately you can build an affiliate
marketing site that, uh, helping women over 50 lose weight idea, right? Let’s say you build a content heavy site and
an email list and you promote affiliate products like organic buying, daily burn, etc. And then eventually you create your own product
to sell to them. You build the audience, you’re able to monetize
that process as an affiliate, but then you create your own course. Once you get a lot of skill helping people
or maybe you start selling one on one coaching and that’s where you learn the process that
you turn into your course ultimately, and that’s a little taste of how these all work
together. Number three is coaching and consulting. So to me, bridging the gap between I teach
this this stuff online or I’m using content to help my audience. Bridging the gap between that and creating
courses is really going deep with individuals. If you haven’t helped one person lose 10 pounds
in 30 days, that’s really what you need to do. Once you start growing your audience, you
need to find somebody who is committed and you need to help them and you need to build
a process and then you need to help somebody else and then you need to help somebody else. Now, the cool thing about coaching is it can
be done one on one, but you can also do group coaching, which is a way for you to leverage
your time to get a little bit of leverage so the income goes up, but the amount of effort
and energy from you stays the same and that’s usually the path to creating online courses. You start learning about the world, you gain
a result for yourself, then you start helping individuals get that results. So you’re creating a repeatable process. Then you help a small group of people get
that result together. And once you’ve proven that your system works
over and over for dozens, if not hundreds of people, you’re ready to build it into a
course. One of the other cool things about consulting
and coaching, um, people are willing to invest very relatively high volumes of money to get
specific results and they love being held by the hand, right? They love having a individual guide cause
there’s part accountability in it. There’s a lot of reasons why when your position
as the expert for them to be able to do Skype calls with you one on one, three times a week,
Skype workouts with you one on one three times a week, they stay accountable to you. They text you every single day with they’re
eating their calorie counts, et cetera, et cetera. Sometimes that real personal touch of coaching
is what’s gonna get them the result. And a lot of us like me, we know we need that
level of accountability as well. So that’s how it can work really well and
I think there’s a beautiful business to be had there. Uh, number four is membership site. My good friend Dave wooding says that recurring
income is the Holy grail of income and I totally agree. Great membership programs can allow you to
do one body of work each and every month and sell that hundreds if not thousands of times
over. Now what do you include in your membership
program? Obviously this needs to come from what you’ve
been doing, the results you can help people with. I use a forum for my membership program to
where people can kind of get my trainings, my advanced trainings, but then they can ask
me questions about the trainings and that’s a big part of it. So my membership program has a little bit
of a group coaching type, tweaked my wife’s membership program. It’s really on demand access to a vault of
past paid content. So it’s video courses, it’s PDFs, it’s MP3s,
and it’s kind of an on demand access to a vault. So we just put our body of work in this interface,
in this kind of learning management system and people can log in and download what they
want and they get all of the new things from there. The reason why membership site is so high
up is ultimately you sell it once and you can earn income from that one sale for months,
years, potentially decades in the future as long as you’re still delivering lots of great
value. Number five, digital marketing agency. Um, I did a video on this channel and honestly,
pretty much each and every one of these that we’re going through, I have not just all video
on these. I have deep dive videos that teach you exactly
how to set these things up, the mindset, the macro, the micro, the clouds, the dirt, everything. So definitely dig through the videos on the
ones that you’re really interested in, but a digital marketing agency for me, if it all
came crashing down, if my YouTube channel somehow disappeared and my blog somehow disappeared
and I was starting over, I would leverage these skills that I have about how to put
a blog post on the first page of Google about how to put a video on the first page of YouTube
about how to run Facebook ads. And I would go leverage that and I would sell
that as a service. Not only would I sell that as a service, I
would build a team of people who would actually do the work, and I would stay focused on speaking
on stages and I would stay focused on running local meetup groups and essentially bringing
in clients. Right. I’d be the figure head. I’d be the position and I would then let my
team of experts do the actual day to day work for the clients. I think digital marketing agencies are incredibly
powerful today because there’s more and more businesses all competing for those top three
spots on the Google map. There’s more and more businesses today competing
for those top 10 spots on the first page of Google, but here’s the caveat. You have to have skills. You have to actually be able to drive traffic. You hacked to have to actually be able to
create the result for you to be able to sell it. Now, I ran an agency for five years very successfully
and the result that I had learned how to do was building my wife and my first website
up to 30 and then 60,000 visits per month and I was able to show local business owners,
Hey, I got the side, I get 2000 visits today. Would your business be transformed if you
had 2000 people a day looking at what you do and your offers and they thought to themselves,
well, yeah, of course it would. And that was how I closed the sale was the
proof of my past work. So this is where you could start as an affiliate
marketer, build your site, grow your traffic, learn the ins and outs of WordPress, learn
how to rank a posts on the first page of Google, and then that could actually be your case. Study your testimonial for you to go and start
a little digital marketing agency. Number six, freelancing and doing virtual
assistant type work. Um, this is an easier way to get started than
digital agency. Obviously there’s SEO freelancers out there,
but I make this as a, it’s this distinguished to me because I think it includes things like
transcription, video editing, uh, making show notes from podcasts or even editing the audio
for podcasts for people, uh, translating documents, translating books. We have, uh, several of my wife’s books are
in Spanish. We had those all translated doing copy editing
or proofreading. Now this is looking into what you’re good
at, right? Are you good at Photoshop? Are you good at video editing? What do you love? What are you good at? That other businesses, they would love to
pass that side of their business off. Because most digital business are actually
most everybody businesses, right? Brick and mortar business. Most businesses realize they need to be active
on their blog. They need to have a YouTube channel, they
need to have a social media presence. And they probably don’t want to do that because
they’re so busy with the day to day operations of their business. You could step in and fill that one role for
them as a freelancer. And this is drastically different than running
an agency because you do the work in this scenario and it floats you. So you’ve got a number of clients who look
to you to do specific work and it’s a great way to bridge the gap from kind of being in
a corporate setting to the side hustle that can give you some time and location freedom,
which is great. And from there you can kind of build your
own internet business. You can teach people how to do what you do,
et cetera, et cetera. There’s, it’s a stepping stone also just like
the other ones are um, software as a service. S a, a S. um, absolutely brilliant income
opportunity because if you are able to create a software tool that I personally use that
helps me drive more traffic or drive more conversions. Okay. And my business gets greater profits from
that. Let’s say your $97 per month tool helps me
bring in an extra thousand dollars a month. I am never going to balk at your $97 price
as long as I’m getting a return on that investment. That’s a multiple of what I’m putting in the
challenges building software, right? You need to be a coder or you need to be a
visionary and have access to a coder. So one of the things I’ve done in my inner
circle membership, I’ve created five different software applications. Everything from YouTube optimization to SEO
optimization tools. And I’m working on new software tools. So this is how I’m almost blending software
with my membership because as my members get more and more software tools that help them
get the desired results they want, which is growing an audience, growing list and growing
a business, right? When I build software tools that help them
get way better results with their YouTube videos, they’re going to stick around longer. It’s not just the content, it’s not just the
access to me, it’s not just the info products is not just the group coaching, it’s also
the software. Okay. So that’s pretty much what I’m offering from
mine from a holistic standpoint. Um, software requires a certain type of person
who’s ready to deal with the tech challenges that come from building, scaling and growing
a software company. But the, again, the potential for longterm
income is amazing. I have tools within my business that I’ve
used for, I mean eight, 10 years straight, happy to pay for them, keep paying for them. I would not consider turning them off because
they actually are a part of my business processes at this point. Number eight. Um, and I think this one’s overlooked way
too often. Sell handmade goods. Um, so crocheting, niching, making jewelry,
there’s so many handmade goods. Uh, and it can come out of a story, right? Let’s say you have a baby who has very, very
sensitive skin. You can’t use normal sunscreen on your baby’s
skin. They, they break out into a rash. They’re, they’re extremely sensitive. And you came up with this sunscreen that works. It’s totally natural. It’s totally nontoxic. There’s no harsh chemicals in it at all. It’s safe for even your baby’s skin. That’s a brilliant thing, right? And then you could start selling that. So there’s, they’re selling it online. And I know this is the top 10 online businesses,
but I think most people overlook their local farmer’s markets. And I think the local farmer’s markets are
an amazing way for entrepreneurs who are creators to really get some real world feedback on
what it is they’re creating. You get to talk right there in the moment
with people. You get to ask them questions. Um, do you have children with sensitive skin? Do you have sensitive skin? Have you ever put on sunscreen that like you
can ask those kinds of questions right there with people who are just kind of strolling
the park for the afternoon because it’s the, uh, it’s the farmer’s market after noon and
that’s what they’re there for. They’re there for that community interaction
and these interaction moments, the, the things you can learn from actually trying to sell
a physical thing over the table to a real person, it can speed up the process. Three X 10 X and beyond versus trying to hide
behind a computer and listing it on Etsy, listing on Amazon, listing it on a Shopify
site. So I think you could do all of the things
ultimately if you’re one of these creators. But really I think it’s incredibly valuable
to spend time. If you’re looking for a business model and
you like creating things, soap is relatively easy to create. Go down your local farmer’s market. Is there a soap maker? Is there a lotion maker? Is there a jewelry maker? Is there a candle maker? Is there someone’s selling mushrooms because
mushrooms are really easy to grow micro greens. You can grow in a warehouse, these delicate
micro greens that are a very hot item right now. So it’s good to go to these and pay attention
what other creators are making and selling and then see if there’s a little opening,
uh, versus something you know how to do or you’re interested in doing. You can learn how to make good soaps in an
afternoon or a weekend and in fact you can buy entire loaves of soap on Etsy. You could cut them down, you can put them
in special packaging, special branding and put your little twist on it and then you could
go resell them. And that is actually a business model that
you could do in person. Build testimonials, learn a lot about your
customer avatar, your audience, et cetera. Number nine, I have as influencer marketing. Now I debated whether I was going to put influencer
marketing on, but I don’t have a better word for it. So it’s the word I’m going to use now. To me, influencer marketing is a podcaster. That was what I thought. I was literally thinking about putting podcasting
on here because I think more and more people are listening to podcasts. The growth year over year of podcasts is continuing
to accelerate and the kind of realness of podcasters, it’s becoming an actual thing. It’s becoming a respected world. So right now we’re going through the election
cycle here in North America and the, there’s a, a number of democratic candidates going
on right now and I like to listen to what they have to say and I don’t like the debate
stage that they’re on. It’s a joke. It’s, it’s an attempt to get them to, to bicker
with each other for a rubbish soundbite. But then Joe Rogan has had at least three
different presidential candidates on and I’ve listened to every one of those podcast episodes
and they range from one hour to over two hours. The depth of understanding of that individual,
their history, their story, their ideas, what their plans are invaluable to me as an individual. So that little story I just told you is why
I think podcasts are going to continue to grow. Um, you tubers are also influencers. Obviously people who take like Instagrammers
can be influencers as well, but I will put them at the absolute bottom of the totem pole. I think that’s the most difficult nut to crack
because it’s 99% of the time. Uh, cool and doing cool is very difficult
to sustain for long periods of time. Uh, things can go hot or not, but if you’re
delivering real value, if, if you love sports, if you love some obscure sport like drone
racing and you are just all infatuated with drone racing and you interview all of the
best drone race pilots and you cover all of the best drone racing events, your podcast
could be the number one hub for all things drone racing. And in that moment you are an influencer. You can sell brand deals, you can promote
things as an affiliate. You could eventually make courses like it
could go in every direction. So it’s influencer means you’re creating an
audience with the focus and the goal of delivering value to that audience and helping them achieve
their goals and solve their problems. How you go about that is I’m kind of individualistic
based on the platforms. Even Twitch streamers, right? Somebody who’s streaming games, they’re like
a professional E sports person who supports themselves 100% by a streaming themselves
playing the game on, on YouTube and Twitch. Both. I would consider them to be an influencer
and they can be mega influencers in this day and age. Um, they absolutely can be mega influencers. And then number 10 is drop shipping and e-commerce. This is almost related to that idea of, you
know, buying the, the log of soap and cutting it up and selling it and reselling it. Uh, one of the most common ways to build a
business and to earn money for eons has been buying and selling things. You buy something over here and you sell it
over there. Now drop shipping means you sell it without
ever buying it. Okay. Somebody else’s warehousing it, someone else
has the fulfillment centers. You build an audience of people and then you
sell it, you manage the transaction, you manage the customer support, but they actually ship
it from their warehouse. So it eliminates or it lowers drastically
the cost of doing business and for high ticket products like I’m electric wheelchairs for
elderly people who need mobility help, um, to uh, electric bikes, right? There’s a lot of different, um, $3,000 products
that can potentially have a fairly good margin. Uh, your margins shrink significantly compared
to digital products and information products, but people are more willing to buy things,
right? We all buy things in our world. You’ve probably bought soap, toothbrushes,
toothpastes. You may have bought a bicycle and higher ticket
things as well. So buying and selling things is absolutely
still a very real business today. Um, you can sell on Amazon as FBA. You can sell again Etsy, eBay, as we said,
you could build your own website, drop ship through like a Shopify store, which are very
easy to run. You can do woo commerce, which is essentially
the WordPress open source, alternate to Shopify. Um, the truth is people buy stuff and they
buy stuff all the time, which is why Amazon is a behemoth in its space. It’s a crowded market. It requires more investment, generally speaking. And the margins are also lower, which is why
it’s at the bottom of my list. But maybe you have a logistical team, maybe
you have fulfillment centers that you’ve used, maybe you’ve sourced products from another
country before and you have really interesting access to some beautiful jewelry from Bali
and you could go get loads and loads of this jewelry from Bali and you want to start selling
that way. Very, very doable in this day. People buy jewelry online. My wife sells a ton of jewelry online as an
affiliate actually. So that’s it. Those are the top, top 10 businesses for 2020. Uh, the real key to all of them or those key
to success that overrides everything here is your audience’s everything and showing
up and delivering value to your audience before asking for the sale and return is one of the
keys of business. And that’s why my channel has been so successful
here and this business that I’ve built around this channel of teaching, everything I know
about digital business, digital entrepreneurship, and digital marketing, why it’s been so successful
as I put out about 575 videos of really, really helpful, shareable information with zero pitches. There was no call to action here. There’s no call to action coming. And I mentioned this because you need the
perspective of a, I want you to get started, choose a business model and get going. Think about your audience. Who are they? What do they need? Why are they searching for this? Why do they need to buy this right now? Are they aware of the problem or are they
aware of the solution? Meet them where they are through content and
help them get what they want. Learn how to build an email list. And at that point you open yourself up to
start to dabble in all of the different aspects of the business. I do very well as an affiliate marketer each
and every month here from the content I’ve put out. But I also do very well with my group coaching
program that also has those software tools. So I’m mixing and matching about four of them. My wife is mixing and matching even more. She has physical products that we sell. She’s got about six of these dialed in, which
means we have a very stable business that it affords us the lifestyle we want with security. And if we lose any one channel of traffic,
if we lose any one stream of income, we still have many others that are actually supporting
us. And last note, Rome wasn’t built in a day. We’ve been building her business for 10 years
straight. I’ve been building this business that you’re
watching on the miles Becker channel for over three years, uh, aggressively. Not to mention the 15 years of hands on digital
marketing experience that I built before ever teaching and starting my first video here. So who can you help? Who can you be of service to? If you want to start next, go to my how to
choose a niche video series that I have here on YouTube. It’s going to help you really kind of get
all these ideas and who can I help? That’s the number one question you can ask
yourself and then go forth. Create a ruckus, create value for them. Give value. First. We must put deposits into the bank account
before we can ask for withdrawals. Thank you very much. I hope you enjoyed it. If you did, thumbs up like comment, do what
you do. Subscribe, hit the bell. I appreciate you and I’ll see you on the next
video. Until then, be well.

26 thoughts on 2020’s Best Online Business Ideas – Top 10 Lifestyle Businesses Revealed.

  1. Thanks Miles, great advice. I got into building my YouTube channel around affiliate marketing. I’m also investing into marketing training and creating content around what I’m learning.

  2. Thank you Miles! Struggling a bit with my niche still but getting closer to launching my freelance copywriting business and my husband is planning an affiliate marketing site. We find you super inspiring and this new video is mind-glowingly AWESOME!

  3. How do you feel about running ads for products you're affiliated with? I know you leverage affiliate offers on YT but that's organic traffic. Was just wondering.

  4. Hi Miles, quick question. With the Digital marketing agency business you had, was there a reason you didn't run Facebook ads or Good Ads for your clients? If you were to start over today, would you have included running Facebook ads and google ads for your clients, Or would you just stick to straight to SEO organic traffic services? I see a lot of guys selling Facebook ad services to local businesses, I'm starting an agency and would like to know, what would you recommend as the best service to provide for my clients. SEO organic or paid advertisement services?

  5. Great video! Funny you mention handmade goods as my best selling Amazon items are handmade. I like the SAS model or affiliate as well. A very successful person told me once that if you can make a tweak to say like something on excel, make it cheap, and have a bunch of people get it on a monthly basis, then that's a winning situation.

  6. Hey Miles. I've been going through your thrive tutorial and I can't find a homepage tutorial anywhere. Is there one you created that I can't find? If no, a tutorial would be cool. thanks

  7. I have owned my video production business for just over 5 years, and to celebrate, I've just made a YouTube channel to share all my best tips and hacks for building a successful business. I'd love if you came and checked it out! (And maybe even subscribed!)

  8. hey mike i saw some of your videos on affliate marketing i really wanna start my online bussiness and need some big help on how to begin? what sources are best for me to build up my audiences what website host should i use to start promoteing affliate products and who should i go to to let them promote my product? i was running facebook ads and they failed terribly cus i was doing it wrong hope u respond! 🙂

  9. Hey Miles, can you help me with this?
    I was watching your niche selection videos and I am super passionate about cars
    I can sit on YouTube all day watching videos on new cars and their features.
    If I create a blog around this, how can I monetize it?
    I want to become a motoring journalist one day but where do I start.
    If you can help point me in the right direction, I'll really appreciate it.

Leave a Reply

Your email address will not be published. Required fields are marked *