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Earn money online, but be serious: Find the best business ideas [+ checklists]

Earning serious money with a good business idea on the Internet today is not easy: The competition is fierce and legal pitfalls make life difficult for providers. An overview.

What makes a successful online business?

Doing business online is becoming increasingly popular as the internet offers unlimited opportunities to sell your product or service sell. You can make your own Company start up by selling products online, blogging, freelancing, taking an online course, or even writing content for someone else's website if you are a professional writer. With just a laptop and an internet connection, you can start your own business from anywhere!

It is important to take into account that not all online business ideas are successful. One of the most important aspects of any onlineBusiness idea is their scalability. When starting an online business idea, it is crucial to consider how much time and energy it will take to maintain and grow it.

It should also be noted whether the effort for an idea is worthwhile at all: If someone is looking for good online business ideas, they will likely always run into the same problem: They are looking for ideas that cannot be easily copied. He's looking for something that is really original. But most of the simple business models on the Internet have been around for a long time, and dozens of them. Because that is the crux of the Internet: The offers are low-threshold, the entry barriers are low and, as a rule, most offers can easily be copied with a little creativity.

What is a good online business model?

In addition, the idea of ​​the best business model is purely subjective. When it comes to marketing, social media, and networking, different people do different things. However, there are many similarities between what are supposedly the best models. In fact, there are no “best” online business models. Which model is best for a company depends on its size and the type of business in which it operates. It is important to understand the pros and cons of each model, as well as their pros and cons, before making a decision.

Some of these models work well because they focus on content marketing or online networking. Others work well because they offer customers a special experience by combining meaningfulness, high utility, and entertainment all in one Business Model combine. Above all, the right business model should help you grow your company without having to spend too much money on marketing or advertising.

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What is the difference between online business ideas and traditional business models?

It is always important to recognize current trends and that to find the right business areaTraditionally, the word “business” can be used to refer to a company, organization, or other group that provides goods or services to others. Companies generally offer these products or services on behalf of themselves or their partners or affiliates and derive income from them through their relationships with customers who purchase them for use, either through a physical store (e.g., Wal-Mart) or via an internet portal (e.g. Amazon).

The Internet has made a lot of things easier for businesses: a business could use social media to create a professional-looking online presence without investing in physical advertising or time-consuming marketing strategies. Businesses could also use networking sites like LinkedIn or Facebook to find job seekers and offer internships or jobs without having to set up a full recruiting website.

But the Internet has also set new limits for companies, for example through legal pitfalls and new regulations, of which the General Data Protection Regulation is certainly the most famous. As a result, it is not always easy for companies to effectively use new technology to their advantage.

Checklist: Typical online business models

Nowadays, online business models are often a combination of marketing, social media and creativity. You need to have a strategy in place for each of these areas to make sure your business is up and running. Many online business models revolve around a powerful marketing campaign. The more creative and compelling your ads are, the more effective they are. Most of these online business models are about social media campaigns as well as networking and Communication with customers.

Depending on the type of income generation, the following online business models can be distinguished:

  • Affiliate Marketing Business Model
  • Pay per click business model
  • Content sharing business model
  • Freemium business model
  • collaboration
  • licensing
  • Dropshipping model
  • Joint venture model
  • Lead generation model

The customer experience as the core of every successful online business idea

One of the most important aspects of any online business is the customer experience. A good customer experience can go a long way, but not all companies are created equal in this regard. Here are some of the best online business models to keep your customers happy. Hence the best online business models are those that offer the best customer experience.

Creativity and marketing always go hand in hand and this should be taken into account when setting up an online business. It's easier to get through social media channels like FacebookTo market and communicate on Instagram or LinkedIn. This also gives you an opportunity, your audience and yours Network to enlarge. This aspect of the direct communication with the customer is probably the reason why many people see marketing and communication as the best opportunities for a successful online business.

Legal pitfalls and gray areas: Not all business models are serious and legal

But be careful, not all options that are already offered as a service on the Internet are always legal and reputable. Online casinos are an exciting and complex example: there is no doubt that the online gambling business is booming. More and more people are trying their hand at the colorful slot machines or trying their luck with strategy and probability calculations at the classics of roulette, poker or blackjack.

But by no means all online casinos that can be accessed in Germany have the necessary license; there are also numerous providers who do not have a German gaming license. Theoretically, these casinos are not allowed to offer their services in Germany, but in practice this is a legal gray area: European casinos usually have licenses from a neighboring country such as Malta, Great Britain, Cyprus or the Dutch Caribbean island of Curaçao. One license means stricter rules and regular checks. Casinos without any license are illegal on the black market, untrustworthy and are not subject to any rules. In Germany, online casinos have only been allowed in Schleswig-Holstein since 2012, and now there is also a nationwide uniform regulation in the form of the State Treaty on Gambling. This makes it legally possible to use and offer online casinos throughout Germany. The background is that of course the German tax authorities also want their share of the gambling pie. In Germany there has so far been no uniform gaming law with which such taxes could have been levied.

How high the taxes are is determined by each country in which licenses are issued. Most EU countries tax players' gross winnings, while in Germany stakes are taxed at 5%. This form of taxation is heavily criticized in the industry. The gross winnings, on the other hand, are calculated from the stakes minus winnings paid out. Great Britain, for example, also taxed the stakes on sports betting until 2001, but realized that this was to the disadvantage of the players. Since 2001, gross gaming revenues have been taxed at a uniform rate of 15%. Other countries such as Switzerland or Austria use a tiered system with different tax rates for land-based casinos, lottery, online casinos or sports betting. Depending on the income, the minimum tax rate can increase from 20% to 80%, but the basis for calculation is always the gross profit.

Checklists: First steps to implement your new business idea

The example shows how much new laws can have a major impact on a business model. Hence, if you are considering starting an online business, the first thing you should check is whether what you are proposing is legal or not. Clarify the following questions:

  • Are there any laws that prohibit starting my business?
  • Does my service infringe any intellectual property rights?
  • Are all those I deal with consenting adults?
  • Does my idea violate data protection guidelines?
  • Does my idea violate applicable copyright law?
  • Does my idea comply with applicable tax law?

All clear It has to be said: Not every possible option to make money is actually legal. Some business models are just risky, others move in legal gray areas and still others are actually illegal. Hence, it is important that you do your due diligence to make sure you are not breaking any law.

Further steps in developing your business idea should be to think carefully about the conception of your idea. This includes making sure you have a website with updated content and a social media presence with new posts on Facebook, Twitter and other platforms. It can also extensive start-up coaching help. In any case, you should pay attention to the following checklist:

  • Identify your core target group and your ideal customers
  • Define the needs, wishes and expectations of your target customers.
  • Identify the core competencies of your company.
  • Write down exactly which end product or service will be delivered and under which conditions.
  • Create a plan for marketing your product or service.
  • Write down the various methods of marketing an online business. Keep in mind that some methods are more effective than others.
  • Read market research and find out which marketing method is most successful for which type of company.
  • Use free marketing methods such as social media or your own website.
  • Think creatively about how to market your product or service through social media platforms like Instagram.

Conclusion: create an irresistible offer for your customers

In conclusion, the key to running a successful online business is having a unique, compelling proposition for your potential customers. When your offering is unique, you have a better chance of reaching the right audience and turning them into a customer. If your offer is irresistible, your customers will be much more motivated to buy from you.

Select the online business model that suits you best. There is simply no such thing as a clear winner, the best business model in every situation. Each online business model has its own advantages and disadvantages, and each of them can make you rich and famous if you really want to and are willing to work hard for it.

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