Financial independence, the dream of millions of people. Actually, internet globalization offers a precious opportunity for everyone to realize their entrepreneurial dreams. Building and maintaining an online business enable entrepreneurs to benefit largely from the freedom to make money from anywhere in the world. The idea is appealing and more possible than ever, but many entrepreneurs don’t know where to start. The most important step in starting a profitable online business is to find a business idea that matches your skills and strengths, and what you are passionate about.
Regardless you are looking to become a full-time online entrepreneur or just to start a part-time business as a passive income source, your product or service should satisfy a specific consumer need. Take a look at this series of profitable need-based businesses, with minimal startup costs, that you can immediately. The area of online business is highly competitive so if you envisage creating a profitable online business rely only on your hardest work.
1. SEO consultant as an online business
If you know the ins and outs of search engines and have technical skills in platforms like Google Ads and Google Analytics, becoming an SEO consultant could be a profitable activity for you. Many small business owners don’t realize how huge the impact search engine optimization (SEO) can have on their business. Build your online consulting business by educating those business owners on the power of SEO to help transform their websites and grow their conversion rates.
You should leverage your marketing skills to show business owners the benefits of using analytics data, strategic keywords, and content structure to generate more organic web traffic. If you are unfamiliar with SEO or want to brush up on your digital marketing skills, you can refer to Moz’s Beginner’s Guide to SEO.
Keep in mind that Google’s algorithms are always changing, so you will need to continue your education on SEO to stay relevant and successful in this field. Avoid various doubtful schemes to attain your goals, remember always that only the hard work conduct to prosperity.
2. Small business consultant
If you have valuable business experience and knowledge, why not create a business that aspires to other entrepreneurs to pursue their success? As a business consultant, you could use your skills to help new business owners get off to a good start and help experienced entrepreneurs keep up with demand. Your chances of success are greater if you focus your strategy on a niche aspect of business consulting.
To ameliorate your credibility, demonstrate your expertise and bring in clients, it is advantageous to be present in the digital business community. You can leverage opportunities like small business communities contribution like business.com or write business articles on platforms like LinkedIn.
3. Social media consultant
Nowadays it’s not a secret that social media can be considered as a steady source of your business growth. Only the big enterprises can hire an agency or full-time staff member to manage their social media accounts, but small businesses often have to arrange themselves for their social media strategy. Charged with so many responsibilities, business owners are often too busy, overwhelmed, or undereducated about the importance of a social media presence to spend time developing and applying an effective social media strategy. As a social media consultant, you can guide small businesses to determine the best tactics, posting schedules, and content for their target audience. As their follower count grows, so will your business.
Facebook and Twitter are still the most important business networks, but businesses often tend to cooperate with more visual platforms like Instagram, Pinterest, Tumblr, and Snapchat. All these platforms possess huge consumer audiences, but many businesses don’t realize how big they are, how effective they can be, and how to make them work for their brand. If you have a background in social media marketing and a passion for photography, focusing your consulting business on one specific platform, like Instagram, it can be a worthwhile way to generate income while helping other businesses improve their social media presence and achieve their business goals.
4. Bookkeeping and accounting online business ideas
If you’re an accountant, you’re the real superhero. Especially during tax season.
Browse through platforms like People per Hour, and you’ll see just how many people could become your clients.
You don’t even need advanced software. Quickbooks works just fine in most cases, so you’re cutting your startup costs significantly.
Depending on your credentials and experience, consider these small online business ideas:
- A service to help small businesses transition to cloud accounting software like Xero
- Monthly bookkeeping services
- Individual tax return preparation
- Tax consulting for individuals or business
5. Become a Web designer or web developer
If you are a creative, digital professional who thrives on forming the layout, visual theme, font set, and color palette of a website, freelance web design may be a good path for you. If you have little to no experience in this field, you can learn the basics of web design and master the tools you’ll need for success, like Adobe XD, Chrome DevTools, and text editor software.
Put your technical and creative skills to good use for business owners who want to take their online presence to the next level. Build a comprehensive portfolio, and then create your own website to show it off and attract a steady stream of clients.
6. Blogging as an online business
Blogging may seem like an outdated business strategy since nearly everybody already has one, but the competition should not deter you from starting this online business journey. If you love writing or have important information to share, blogging may be a profitable business for you.
Starting a blog as a business is very simple with website builders like Weebly and WordPress, but the key to success is consistency and quality. To gain a steady following, you must continually write and produce high-quality content that provides value to your readers. Content that educates, informs or entertains your readers gives them a reason to follow you.
Once you’ve mastered the creation of consistent content, you can make money through your blog by selling products like online courses, digital coaching, e-books, or webinars. You can also sell ad space or sponsored posts. This business strategy may take a little more time and effort to monetize, but it can be very profitable in the end.
7. Virtual assistant service
Do you have impeccable organizational skills and task management abilities? Maybe it’s time to put those skills to good use by becoming a virtual assistant. VA services typically consist of basic administrative tasks like entering data, making travel arrangements, and answering phone calls. Previous experience in this field is ideal but not required.
Platforms like TaskRabbit and Zirtual make it easy for VA professionals to find jobs. They allow you to create an online profile and sign up for tasks you want to complete – such as data research, virtual assistance, or basic errands – and begin building clientele.
8. Become an affiliate marketer
Affiliate marketing is one of oldest ways to create an online business. If you love leaving customer reviews on sites like Amazon, you may want to look into affiliate marketing as a source of income. Word-of-mouth advertising is still a huge lead generator for many companies, and many businesses are willing to share a portion of their profits with persuasive individuals who will promote their products to the public.
Affiliate programs break down into different levels of involvement: unattached, related, and involved. Unattached affiliate marketing is a basic pay-per-click campaign that requires little to no involvement with the product you are promoting. Related affiliate marketing requires you to have some authority and content on the product you are marketing, but you don’t personally use the product. Involved affiliate marketing is perhaps the most effective, as you’ll be marketing a product that you actually use and enjoy.
If you have a personal website or social media presence with a large following, affiliate programs may be a profitable approach for you. PR reps are always seeking out brand advocates and influencers they can send free samples to.
9. Remote tech support as online business
Many small businesses don’t have room in their budgets to hire a full-time IT employee, so when their systems go on the fritz, they usually call a computer-savvy friend or family member. If you are tech-savvy and have experience working on computers and networks, you can eliminate their need to call in favor by offering immediate remote technical assistance.
Although some businesses may prefer you to have a technical degree, many will look to your experience and knowledge instead. You can start to build your remote tech support business by reaching out to friends, family, and local business owners about their tech support needs. You can also find freelance tech support gigs on job boards like Upwork.
10. Handmade craft seller
As merchants switch their sales to e-commerce, online marketplaces for handmade goods, like Etsy and ArtFire, make it extremely easy for artisans who can produce a steady supply of quality handmade products, such as crocheted blankets or unique painted glassware. If you have a unique craft, selling your products on an e-commerce site is a good way to earn income while you’re at home, doing what you love.
Startup costs for this business idea are extremely low if you purchase your creative materials in bulk from a craft supplier. If you can create and sell your artwork quickly on an online store, you’ll be making a profit in no time at all. Local artisans find higher success when they promote their businesses on social media.
11. Become an app developer
If you have an app idea but don’t know the ins and outs of coding, there are plenty of software developers looking to collaborate with people on app creation. Depending on your situation and know-how, you may be able to make a lucrative business out of app development.
12. Search engine creation
Google and Bing are ubiquitous, but they don’t necessarily address all users’ needs. If you’re an expert in a certain field, build your own search engine that helps people with less knowledge find what they’re looking for. Your chances of success might be higher if your search engine gives users opportunities to insert parameters, such as subtopics and source type, rather than just conducting a general search.
If you want to own a steady source of online income why not create an e-commerce site? In this case, you might be worried about storing inventory. With drop shipping, you can take customer orders on an online store and send them directly to a third-party retailer for fulfillment. As long as your business model involves selling items at a price higher than what you’ll pay to the third-party retailer, your dropshipping business will be set for success. If you are seriously looking for your store creation you can observe the possibility to create a Shopify store. Don’t neglect this type of business because it can become unbelievably profitable.
14. Tutoring business
Just because somebody is taking classes in a subject doesn’t mean they understand the material well. If you’re great at explaining things to somebody in a one-on-one setting and have ample experience and knowledge in a subject, consider starting an online tutoring business in that field. You can use video chat tools such as Skype to conduct tutoring sessions remotely and offer your knowledge to anybody, anytime, anywhere. Consider incorporating a budget for ads on Craigslist and Fiverr into your business model.
15. Digital courses
Similarly to tutoring, people all over the world might benefit from you sharing your expertise with them. Starting an online business that offers digital courses to anybody interested in the topic can easily earn you money – you can sell prepared written materials or other downloadable content for a fee.
16. YouTube channel
YouTube makes starting an online education business especially easy. Upload videos of yourself educating viewers on any subject, whether beginner or advanced, and use social media to spread the word of your channel. As your number of viewers grows, you’ll be able to monetize your videos and make a profit from them.
17. Skype coaching
Some people looking for one-on-one help might want something more than lessons. People who want help advancing their careers, improving their nutrition, or finding more meaning in their lives could benefit from your coaching through Skype. Rather than giving exercises and grades, as a Skype coach, your goal is to offer advice, guidelines, and support for your clients. If you run a blog for your business or regularly post to LinkedIn about the topics in which you’re coaching, you’ll appear more trustworthy and knowledgeable.
18. Podcast network
The past several years have seen an explosion in podcast availability and listenership, and you can capitalize on that by starting your own podcast network. You can populate the network with any podcasts you record, but if you give other people – whether friends or strangers from the internet – opportunities to contribute their own podcasts, your network will likely grow more quickly. As your network grows, you can increase the price per podcast download.
19. Technical writer
The internet is full of copywriters for hire, but only a few of these copywriters have the technical background to properly write an instruction manual for a large machine or properly convey scientific results. If you have a background in science and can write about it, start an online business through which people can hire your technical writing services. Advertise yourself on LinkedIn, Fiverr and other platforms to draw in customers.
20. Resume and cover letter writer
Almost everyone has sought help from other people when writing resumes or cover letters. Offer your expertise in crafting compelling resumes and cover letters to anybody willing to hire you. Provide examples of not just other people’s resumes and cover letters with which you’ve helped, but successful resumes and cover letters of your own to increase your chances of successfully starting an online business.
21. Corporate counsel consultant
Corporations need lawyers to protect them in legal matters and educate them on what they can and can’t do. By starting an online corporate counsel consultation firm, you can offer corporate workers a way to keep their legal affairs in order without the commitment, exorbitant fees, and extensive in-person commitments of traditional lawyers. You’ll need to show proof that you’ve passed the bar exam to build clientele and make it clear that your business is entirely online – because when it comes time for your client to go to court, they’ll need to hire a lawyer in their region who can represent them in front of a judge or jury.
22. Publishing as an online business
Selling your books on Amazon is a great way to monetize your blog, podcast, or social media channel. It has never been easier to self-publish a book, using Kindle Direct Publishing.
You could also help other authors get published by starting an online publishing agency, like Angela Lauria at Author Incubator.
When it comes to publishing, stick to what you know well and work on becoming the authority on your subject.
23. Startup advisor
Many of the world’s most prominent tech companies began as small startups still figuring out the right business model for success. As a startup advisor, you can advise tomorrow’s companies today. Use any expertise you have in corporate finance, software development, and other relevant fields to provide new businesses with the knowledge they need to succeed. As these startups succeed, so will your business.
Wich one of the online business ideas is the most profitable?
Out of the online business types above, corporate counsel consulting is the highest paid, followed by app development. Some experts in online businesses also expect educational businesses – tutoring, digital courses, YouTube channels, and even Skype coaching – to reap higher profits in future years, with e-commerce sites following close behind in profits. However, the profitability isn’t the only quality you have to consider, primarily you need to choose a business you are interested in in order to put into all your efforts.