Undoubtedly, the Internet is the greatest platform for business. It provides countless opportunities for all those who know how to use it to the full. You may start an essay writing website, a personal blog, online courses, and even an online university. But what’s relevant now? In this post, I’m going to share with you the best online business ideas for this year.
#1 Online Store
According to the research, the number of online purchases in constantly growing. It is no coincidence as the specifics of online trade allows customers to get products at reduced price. Online shops are cheaper because the value of the goods does not cover expenses on rent, cleaners and security guards wages, etc.
However, it needs an effective promotion as well as there’s no other way to reach a wide audience. Also, you have to show some competitive advantages (for example, discounts, sales, loyalty programs, exclusive goods, etc.).
Before opening an online store, make sure the goods you want to sell are in demand. Analyze the market and find out the current customers’ needs.
- For example, you can engage in selling furniture, given that it doesn’t require huge investments. Make a deal with the suppliers and establish business relations with several brands to be able to suggest a wide range of goods.
- Another idea is a clothing shop. There are thousands of online shops, but many of them bring high income. The only disadvantage is that the clothes purchased on the Internet don’t always fit buyers, so you have to be ready to provide money back, taking all shipping expenses into account.
Finally, everyone has a favorite hobby. As practice shows, businesses built on hobbies are the strongest.
#2 Virtual Assistant Services
Virtual assistants are in high demand AND can charge upwards of $50 an hour for specific skills. If you’re new to the idea of starting a virtual assistant business, you can check out my one on one coaching. The problem many new VA’s don’t know how to properly get set up and even established VA’s have trouble finding clients and keeping a consistent flow of income. Thankfully, there’s a course for anyone who wants to work from home, created by a profitable Virtual Assistant (me!).
This course will take the guesswork (and legwork) of tracking down new clients. The most important thing here is trust. The higher the reputation of you and your services, the higher the income. Don’t even think to cut corners as a VA – you want to be known as the go-to person for handling the behind the scenes work! Be sure to protect the personal information of your clients and provide a contract and clear boundaries for working hours and expectations. Over-communication is a must in this industry since it’s all virtual.
#3 Promotion of Young Companies
There are a lot of young online companies that have great business plans but don’t enough funds to bring their ideas to life. The most common reason for that is the lack of PR. Promotion is a great challenge for a new brand, but it’s also the gap you can fill. If you have strong PR skills, search for companies who need PR managers and join the team. Such collaboration may lead to joining the company or working remotely.
Another advertising idea is earning on the contextual advertising – ads or banners that are placed on a website in full accordance with its theme. This means that if the site is dedicated to banks, loans and borrowings, and the ads will also be relevant to the topic of banking.
#4 Freelancing (Copywriting, Ghostwriting, Proofreading, Editing)
If you feel you’re a pen wizard, you may try writing on a professional basis. Well, freelancers deal with large volumes of work, so they sometimes make mistakes. Take the advantage and offer your proofreading services.
Of course, to deal with writing content, you need an excellent knowledge of the language style and grammar. Depending on the complexity, writing a page may take from one hour to several days.
It’s not necessary to treat freelancing as the main job – it may be just a source of additional income. That being said, many freelancers are making 6 figures a year!
More than one in three workers in the United States are freelancers or are a part of the gig economy. Despite this growing figure, many freelancers still have issues trying to get a home loan because the current mortgage industry makes it difficult for freelancers to obtain the mortgage they deserve due to their inability to prove consistent income.
Fortunately, Bankrate created a guide full of helpful tips to know when applying for a mortgage as a gig economy worker. Their guide addresses real-world financial implications for freelancers, loan assistance options, and potential legislature that could alleviate concerns for gig economy workers.
#5 Promotion on Social Networks
Today, almost everyone has a page on a social network. The smartest have adapted them not for entertainment but rather for making money. You may promote your own or someone else’s page. At high traffic, you can find advertisers willing to pay you a good reward for ads.
However, this niche is a high level of competition since it doesn’t require any skills.
Any original and even unoriginal business idea can bring you profit. Even your hobby can be turned into a source of good income. The key is to stand out somehow. Even if you are not unique, but render services at a high level, sooner or later, you’ll get your customer! Online businesses don’t require significant start-up costs, so the sooner you try, the better.
Guest Post Bio:
Lucy Adams is a blogger from BuzzEssay – a young but very promising essay writing website. Enjoy Lucy’s blog by following this link and send her your ideas if you want to get a premium whitepaper for free. Lucy is an open-hearted and diligent writer, so you’ll get a fast and grounded response to each and every query.