What's the Best Online Business for You - 5 Questions to Ask Yourself

coaching dropshipping ecommerce entrepreneurship online business Aug 21, 2019

So you really want to start an online business, but there’s one major problem. You don’t know what type of business you want to start.

Because it’s so easy to start a business online — you can literally do anything — it’s also really easy to be overwhelmed with all the ideas you come up with. To make this conversation easy, let’s narrow your choices down to two main categories.

We’ll use the two I mentioned in the How to Start Your Online Business with Virtually No Money episode of my podcast, Master Your Mission — Coaching and Dropshipping.

Now, remember, Coaching means you’ll be teaching other people something that you’re an expert at, like I do. Dropshipping means you’ll have an online shop or boutique where you sell products without ever buying or holding inventory — your wholesaler holds the products and ships them directly to your customers.

To help you determine which option is best for you, I came up with 5 questions you should ask yourself.

1. Do I like interacting with people?

Coaching requires that you interact with people. You don’t have to be a total extrovert or the most popular person in the room, but you do need to at least be personable and likable. If you don’t want to put yourself at the front and center of your business — essentially becoming the face of your business — then coaching might be rather difficult for you.

2. Am I really good at something that people constantly ask me to teach them?

If your answer is yes, then you may have just found your best online business! Think about it. If your friends, family, coworkers, and anyone else are constantly asking you to teach them something that comes naturally to you, there are probably hundreds, or thousands, of other people who also want to learn the same thing. You could coach them through the learning process.

3. Do I love to follow all the latest shopping trends?

Keeping up with all the latest trends in fashion, or electronics, or skateboards, or really any niche of products, might make you great at being an online boutique or shop owner. And you can do that by dropshipping.

Since you know what’s hot and you know what people are buying, that could mean that you would be a natural at finding the latest hot products and turning them into cold, hard cash.

4. Do I avoid being in the spotlight?

Avoiding attention might be a good indicator that you’d rather be behind the scenes than in front of any cameras. If that’s the case, ix-nay on the oaching-cay and swerve on over to #TeamDropshipping.

You’ll do better putting all of your effort and creative juice behind selling products. The best part? You get to keep your anonymity…for the most part.

5. Is helping people my strong suit?

Okay, this one is kind of a trick question, because if helping people IS your strong suit, either option for an online business could be good for you. As a coach, you’ll be helping people in a very personal, very hands-on way. As a dropshipper, you can sell products, like medical equipment, that help to make people’s lives easier or happier.

As you answer these questions, it may become clear to you which route you should take for your online business. Remember, there are really no wrong answers and no bad tries.

If you try coaching and realize it’s not for you, you can always start a dropshipping business and vice versa. Once you figure out exactly what you want to do, you can move forward with getting started on your business.

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Did these 5 questions help you determine which type of online business is best for you? Find me on Instagram or Facebook and let me know.

Also, if you know someone who might enjoy this article, please share it with them. And listen to my podcast, Master Your Mission, for daily motivation and inspiration to pursue your dreams.