You have what it takes to start an Online Business. The best one you should start is an: Resale Business
Well done for completing the Online Business Quiz. Based on your answers, the best online business you should start is a Resale Business business. Keep reading to learn more about this type of business and your next steps to make it a reality.
What is a Resale Business?
Resale is selling another business’ product or service. You don’t own the product or service but instead, sell someone else’s.
How does it work?
Example of this Type of Business
The most common online form of reselling can be found on Amazon Marketplace. On Amazon, individuals like yourself can purchase in bulk from manufacturers and sell to individuals. You collect the difference between the price paid for the product and the price you sold the product for (minus Amazon and shipping fees).
The key to resale is product/market fit. You need to find a market that is hungry for your product. Or, if you are smart, first find a market and then match the product to the existing market.
How to make money from this type of business?
Online resale businesses can be particularly powerful because of just-in-time purchase. This is basically only buying from the manufacturer when you have already sold to the end customer.
Imagine the opposite: you are an apple reseller. Each week you buy a tonne of apples from the local manufacturer (apple orchard). You then head to the market to resell these apples to customers. You now own all the risk of selling these apples - you need to store them, keep them from going mouldy, transport them to market, deal with damaged goods, etc.
And what if no one fancies apples this week because peaches are all the rage? Then you’re stuffed. You, sir/madam, are now the proud owner of a metric tonne of going-off apples. Oops!
Online we can be smarter by only purchasing from manufacturers what we need. When a customer buys from us, we relay the order through to the manufacturer who produces the product and sends it directly to the customer. We might not even ever see the product! This is a form of reselling called “drop shipping” that is very powerful.
Even better than drop shipping is reselling digital products - i.e. products that have zero cost of storage, do not go “bad”, and can be purchased only when we need to sell them to customers.
Use the BATON Model
In the BATON model, we always recommend digital products or (failing) that just-in-time drop shipped products.
Both allow you to de-risk your reselling business to make sure you don’t end up holding a tonne of rotten apples.
Note: Reselling is also an essential part of all online businesses, even if you have your own products and services. You can always supplement your own products with those of trusted third parties for easy additional revenue streams.
Stacking business types in this way is key to building a solid, diversified online business. We cover this in detail in the BATON model.
PROS and CONS for this Type of Business
Pros
Cons
ConClusion
Don't buy someone else's physical product in bulk, in advance, at your expense. This is high risk, high cost business. We instead focus on selling, then shipping. This is low risk, low cost business. We do this using the BATON Model.
How YOU can Get Started and Build Your own Attention-Based Online Business
Now before jumping in, buying product in bulk to resell. And then quickly shutting down shop because you can't keep up with cashflow demands.
We want you to set off in the right direction and see this through. By learning how to build an Online Business - the right way. From the ground up. Avoiding all the expensive and time consuming mistakes we made when we started 15 years ago.
You can do this by learning the fundamentals. Which in turn will allow you to turn any idea into an automatic money making online business.
So it doesn't matter if you want to build an - attention, resale, service, product or subscription business - it all starts with the BATON Model.
We've created the BATON Model over the last 15 years through - building our own businesses and client business - to the tune of £10's of millions.
The BATON Model walks you through each vital stage an online business must have in place to guarantee financial success.
Here's a visual diagram of each important stage of online business you must set up and have in place:
BATON Model: 5 Key Stages to Any Business Success.
In fact, once you learn our BATON Model you'll be able to build any type of online business you want, whenever you want. It's that important to your online business success.
Because let's face it, we're not building a business for fun. We're building it to make money. And if you do it the BATON way, you'll be making automatic money.
And don't just take out word for it, we've helped 25,000+ people get their online business started using the exact same BATON model you will have the opportunity to access...
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DIMITRIOS KONTZIAS
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ALGIN TIAGAN
Although I'm experienced, these guys still bring me back down to earth with their marketing fundamentals. It can be confusing when I'm in the thick of my business so having these guys have my back is great.
CHEYNA B GRIGGS
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