Online business, online passive income, words that sounds soo sweet and appealing. Am I alone to ba carving to generate some passive revenue from my web activities? I think no, thousands of people are looking for reliable sources of online income, but here is the nuance, predominantly people aren’t predisposed to really strive in order to achieve their goals. They desire it ardently but they aren’t prepared to putt all necessaire efforts for the achievement of goals. Undoubtedly online business is real and thousands of people generate huge revenues from it, but in order to achieve that level, we need to focus all our efforts and energies on this work. The reality is that the internet has opened up limitless possibilities to people regardless of age, location, or social belonging to build a sustainable, online business or side project that can generate extra money online every single month. I launched this blog in order to become a part of the successful blogger’s community and to prove that hard work is the only price we need to pay in order to succeed.
So, let’s talk about online business opportunities in 2020. It depends only on you if the 2020 year will be financially revolutionary for you or not.
Launch and Grow an online business (Startup)
Do you have dreams of starting your own online business one day? Building and developing a high-growth startup, while by far the most difficult way to make money online, inversely has the most important potential.
According to statistics by the 3rd quarter of 2017, Venture Capitalists had invested over $61 billion into close to 6,000 startups in the US alone.
Money is never the problem, there is lots of money around you, and if you can successfully envisage an online service, tool, or marketplace that fulfills a rapidly growing need of society, you could be on the right path for creating a really valuable online business. Anyway, each good realization doubtlessly requires an intense dedication of time, efforts, and some financial resources.
What do you need at the start?
In order to start, you’ll want to have a high level of area experience within the industry’s branch your startup is going to operate. This means understanding deeply your potential customers, the problems they face, and the perception of potential solutions they’ll be willing to pay for. This is the minimum base you need to start.
After, you’ll need to observe other major players in the area who might be good partners or competitors, as well as a close knowledge of how to raise funding, market your product, hire and manage the best talent, and assure the financial viability of your project. All you need in order to start successfully is the clear vision of one particular solution that you are able to provide through your idea.
The most important thing you need before you start is a problem. What do people need that they don’t have? What solution is currently missing that you can offer?
Once you have that problem or need to be detected, the next step is to validate that your idea is able to create a solvent market in the measure to pay for the solution you want to provide. This means developing a maximum viable product, generating objective feedback from real customers, incorporating updates, testing the market for demand, and getting pricing studies to be ensured that there’s enough of a margin between your costs and the price consumers are willing to pay.
You’ll need some investment in order to earn money online in this case
You can be faced with the necessity to invest massively in your Startups to start successfully. So with your idea and market observation verified, there are a few different ways you can pursue to get your initial (start) cash:
- Bootstrap: This means you have to provide yourself the required cash for your business. While not everyone will have the funds to pay for everything they need to start a startup, bootstrapping means that you preserve 100% control over your company.
- Pitch to VCs/Angels/other investors: If you need some huge investments to grow your startup, you’ll want to put together a pitch deck and attain investors who might want to contribute the money you need in return for a share in your company.
- Join a startup accelerator: Another great option is to benefit from startup accelerators like Y Combinator, 500 startups, or TechStars, where a group of investors will contribute coach you, connect you with potential partners, and provide startup investment in exchange for a small stake in your company. The competition is high to get into these, so consider other paths too.
Once you’re off the ground, it’s all about customer acquisition, market validation, more funding, and growth.
Accordingly to specialists, the most profitable startups are operating in the following areas.
- AI Startups
- Ecommerce Startups
- EdTech Startups
- FinTech Startups
- Food and Beverages Startups
- Health Care Startups
- Blockchain Startups
- IoT Startups
- Software and SaaS Startups
- Transport and Travel Startups
- Mobile Apps Startups
- Fashion Startups
Start a blog
If you’re seriously intentioned to make money online, the don’t hesitate to start a blog. Blogging is one of the easiest and most sustainable ways to leverage online business. As long as the blog is setup the right way, in the right chosen niche, with the valuable content targeted at the right audience, and the offer is complementary to the content, you could make an enormous amount of passive income from your blog. The following article will help you to realize how to create a money-making blog in 2020.
Just take a look at these statistics, you see below the income statements of most profitable blogs of the web. It must encourage you yo create you on the lucrative web experience.
- Huffington Post– $41.6 million per month.
- Endgadget– $3.95 million per month.
- Moz– $3.74 million per month.
- Perez Hilton– $3.44 million per month.
- Mashable– $3.33 million per month.
- CopyBlogger– $2.75 million per month.
- TechCrunch– $1.87 million per month.
- Tuts+– $833 thousand per month.
During the time that some might think that blog creation requires is a laborious effort, when you understand clearly all the steps you need to take, it becomes much easier. It all starts in the decision of picking a profitable niche and choosing the right domain name. After that, you need to multiply your offers. When the work is done and the audience is built you can test various methods of blog monetization in order to make maximum profit from your traffic. Check this article in order to reveal blog monetization opportunities in 2020.
Sells Products on a Shopify Store
If you’re serious about making money online through e-commerce, it’s pretty much impossible to not recommend Shopify. This platform provides you everything you need to create your online store and running in less than a day including a custom domain, beautiful templates (so you don’t need design skills), secure payment options, and they can even take care of marketing and shipping for you.
Here are the key features of this platform.
- Quick and easy to use – the platform takes care of web-hosting and coding issues, saving you time and expenses, that would otherwise be related to the development
- Reliable – has 24/7 customer support via email, live chat or phone
- Customizable ready designs
- A big app store with apps for everything; even though Shopify doesn’t qualify among the best blogging platforms, it allows for decent blogging efforts through its SEO and marketing tools
Doubtlessly Shopify is one of the best options for powering your online store and allowing you promoting your own products, or drop shipping the products of other suppliers with the expectancy of a considerable income. All you need to choose the right products and develop a strategy of promotion for your store.
Just take a look at this breathtaking statistics about Shopify stores.
Here we’ll see the best performers on the platform.
Top Shopify stores 2019:
- Budweiser – $11+ billion in annual revenue; 500 employees; $7+ billion in sales
- Tesla, Inc. – $11+ billion in annual revenue; 45,000 employees; so far in 2019 nearly 16,000 vehicles sold in the US
- Red Bull – $7+ billion in revenue; 11,886 employees; 6.28 billion euros worldwide sales for 2017
- Gymshark – $128 million in revenue; 215 employees; $100m sales 2018
- Rebecca Minkoff – $91+ million in reported revenue; 146 employees; $100m sales
To be inspired check the following article about 50 Exceptional Online Stores Built on Shopify
Launch and monetize YouTube Channel
If you are looking for a valuable source of passive online income then consider seriously to create a youtube channel. Assuredly the creation of videos isn’t an easy task, but doubtlessly it’s worth all invested efforts. Once created a video can provide a tremendous income in a steady basis. Recently YouTube changed its monetization program, if you’re able to provide their new minimum bar of 1,000 subscribers and 4,000 hours of view time in the past 12 months, it’s still an unbelievable source of passive online income.
Below you see the highest-paid youtube channels.
- 7 (tie). PewDiePie (Felix Kjellberg)- $13 million.
- Preston (Preston Arsement) – $14 million.
- Jeffree Star – $17 million.
- Rhett and Link – $17.5 million.
- Anastasia Radzinskaya – $18 million.
- Dude Perfect – $20 million.
- Ryan Kaji – $26 million.
YouTube is probably the world’s second-largest search engine (after Google) and is the third most-visited site in the world. In 2017, practically 5 billion videos were watched on YouTube every single day!
YouTube channels benefit from a traditional advertising system. Consequently the more viewers your videos generate, the more income you can make. Once you’re getting approved for the YouTube Partner Program you can start including ads on your videos.
What about your earnings? You can expect approximately $2-$4 with every 1,000 views perhaps isn’t quite impressive but imagine to get millions of views with your videos.
YouTube is one of the fastest-growing platforms you can make passive money online in 2020
Developing a YouTube channel is mostly familiar with starting a blog or website, except in the exchange of content writing you’re working in video. The first step is to determine what kind of videos you’re going to create. Most successful YouTube channels fall under one of two categories:
- Educational content: People always want to find the easiest way to learn something new. And YouTube searches including the phrase “How to” are growing 70% year over year, making YouTube an incredible place to teach what you know.
- Entertainment: Web series, product reviews, comedy sketches and pranks, vlogs, even video game walkthroughs—there are so many different ways you can entertain people through your YouTube channel.
Next, you need to set up and develop your YouTube channel. If you already own a Google account for Gmail or Google Drive, then you can use that to log-in to YouTube and start setting up your channel. Pick a username that works for you and is easy to remember.
You’ll also want to make your YouTube channel more easily found by adding relevant keywords under the “Advanced” section and picking your targeted country (where you think most of your viewers are). If you have a personal blog or site, add it as an “associated website.”
Now, it’s time to do the essential routine creating and uploading content. Make sure you’re using a high-enough quality camera, but don’t worry about being perfect at first. The particularity of YouTube is that you can continue to test out different content and styles as you find what works for you. Instead, stick to a regular schedule to build up your subscriber base.
Once you reach the 1,000 subscriber/4,000 hour threshold, you can begin your video’s monetization by selecting “Monetize with ads” under the Monetization tab of your channel. Despite all eventual difficulties, your hard work will be largely refunded.