5 Online Business Ideas You Need to Start in 2020

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Are you excited to start 2020 with big changes?

If you’ve been envisaging setting up your own online business this past year, now is the perfect time to turn your dreams into reality.

The good news is, there are plenty worthwhile business ideas that you can choose from. From blogging to drop shipping to self-publishing and affiliate marketing, the opportunities are endless.

The bad news? Starting an online business isn’t as easy as you can imagine. According to experts, nearly 50% of companies fail before their 5-year mark, with 70% of those remaining failing before the 10-year mark. Ouch!

This is why, if you want to make 2020 YOUR year, you need to take all necessary measures in order to make your BIG business idea real.

Remember, the faster you launch your online business, the sooner you’ll achieve success. Read how to start a money making online business in 2020.

Blogging: Write your way to success

Blogger Updating Her Post Inside WordPress

Even though blogging has been around for more than a decade, it still remains to be one of the most popular ways to make money online.

If you like writing and creating content that people would love to see, your blog has the potential to become a good source of income.

The key to building a blog that will earn money is to learn how to monetize it. It’s not enough that you produce content consistently, you need to know how to sell something on your blog like digital products, ad space, or sponsored posts.

setting up a blog has become much more comfortable these past years. At the same time, blogging is much more competitive nowadays. So you need to work diligently to build your blog from the ground up to get past your competitors.

Affiliate marketing: Build partnership with other businesses

Affiliate marketing is another money making scheme that’s been around for quite some time now.

Many people prefer this online business idea because it requires very little capital and muscle power.

Affiliate marketing allows you to earn a commission by promoting someone else’s product on your website. As long as you have a knack for copywriting and SEO, you can turn a simple landing page into a goldmine.

The two main ways that people do affiliate marketing is by promoting information products like membership sites, video series, and ebooks, or signing up as an Amazon partner and marketing all sorts of tangible products.

E-commerce: Build a valuable online store

If you’re wiling to sell real products online, you have two options. Setting up your e-commerce site with a storefront and dropshipping using a third-party fulfillment solution. Either way, you need to fill out a unique niche and have a solid marketing strategy to make your business more profitable.

So, how exactly do you decide on a profitable niche?

You start by giving people what they want, that’s how!

Think of your target market and brainstorm product ideas that will solve their pain points. Or if you’re targeting consumers with hobbies, try to look for ways that you can capitalize on their willingness to spend on their passions.

Writer: Become a self-published author

typewriter

A few years back, becoming a self-published author was practically impossible. But now, the internet has made it much easier for all aspiring authors to gain readership.

With Amazon, you can realise your dream to become a legitimate author. Moreover, it can become a steady source of online income for you!

Before you get all excited and start writing your book, make sure that it’s going to be something valuable that people will want to read. No matter what is the area of your activity first of all seek for value.

You first need to validate your book idea to avoid wasting time and effort on a book with low interest. Quick tip: do a quick survey using online survey sites to understand what type of ebooks people are willing to pay for.

Using tools like Survey Monkey or even Google Forms allows you to create forms and surveys on the go. Then share the link to your readers and email subscribers and get their insights.

If you want to become a fiction writer, you must have the creativity and storytelling to capture the imaginations of readers. If you’re into this type of writing, then you want to follow the tips and advice in this post at Writer’s Digest.

Coach: Share your expertise

Are you an expert in your industry?

Do you believe that you have what it takes to help people achieve their own goals?

If you think you have enough life experiences to become a life coach, then online coaching might be the opportunity for you. And the best part is, there are online coaches for just about anything – health, career, and yes, even dating.

To become a successful life coach online, you must set up a blog that revolving around on your expertise. Your website or blog is your primary marketing tool to promote your knowledge. For example, sharing free advice on your blog or social media accounts will help you build your credibility and develop a loyal following.

Even if you do the things above, the biggest problem you’ll encounter is getting and closing clients. Your website and blog should help you build your reputation and expertise in the long run. But if you want to grow a client base fast, you need to follow the tips featured in this Forbes post.

Conclusion

Don’t procrastinate, Let’s do it – there are more online business ideas to start the new year with a bang than the ones featured above. And as much as a problem choosing the right business for you, following through with your promise is just as troubling.

It’s easy to imagine the kind of life you want to achieve with a successful online business. But getting to that point in your life from scratch won’t pretty. You’ll encounter hardships, sleepless nights, and high blood pressure (hopefully not).

But the point stands: if the going gets tough, you need to persevere and push through with your online business.

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