Are you looking for new online businesses to add to your portfolio? Do you want to diversify your income streams? Or maybe you just want to make extra money while working from home?
There are many reasons why someone would want to start an online business. In fact, there are thousands of different types of online businesses. Some of these include affiliate marketing, blogging, selling online courses, dropshipping, consulting, etc.
I've compiled a list of ten great online business ideas that will help you get started with your first online business. These are all proven businesses that have made millions of dollars for entrepreneurs just like you.
Let's get started.
Firstly, why start an online business?
There are many reasons to start an online business. Some people just love working from home while others enjoy having the flexibility of choosing their own hours. Whatever the reason, starting an online business can be a rewarding experience.
One of the biggest benefits of running an online business is the ability to earn money whenever you choose. Whether you decide to work full-time or part-time, you can set your own schedule and pick your own hours. As long as you meet your sales goals, you can continue earning income.
Another benefit of starting an online business is the freedom to pursue other interests. Many entrepreneurs say that they were able to quit their jobs after setting up their businesses. Others found that they could spend more time with family and friends.
Starting an online business can also provide financial security. Since you aren't tied down to a traditional job, you can save money and plan for retirement early on. Plus, you can invest your earnings into additional revenue streams, including real estate.
While starting an online business can offer many advantages, it does require a certain amount of commitment. Most people who start an online business fail within the first few months. But if you follow a proven strategy, you can avoid common mistakes and succeed instead.
In addition to learning how to run an online business, you'll also learn valuable skills that can be applied to future endeavors. For example, you'll develop leadership abilities, communication skills, problem-solving skills, and organizational skills. These traits are highly valued in today's workplace, making starting an online business a smart career move.
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Consulting
One of the easiest online businesses to set up is consulting. All you need is a computer, an internet connection, and a willingness to learn.
There are plenty of opportunities available for consultants who specialize in different areas, including web design, graphic design, programming, and much more. These jobs are typically done remotely, meaning that you can work anywhere you'd like.
To get started, you'll need to create a portfolio of your previous projects and experiences. Once you have enough experience under your belt, you can post up your consulting gig on freelance websites. Some of these sites include Upwork, Freelancer, PeoplePerHour, and Fiverr.
Once you land a client, you'll need to provide detailed project estimates and communicate frequently with your customers. This type of job requires strong communication skills and the ability to manage multiple tasks simultaneously.
It's easy to earn money as a consultant, but it takes dedication and persistence to succeed long-term. Depending on your experience, beginner consultants charge anywhere between $50-$100 per hour.
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Freelance writing
Freelancing is a great option for writers who want to earn extra money while working from home. There are plenty of freelance opportunities available online, including writing articles, blogging, proofreading, editing, and other tasks.
In fact, I started my SEO career through freelance writing and consulting before building my own blog. So this is definitely a good space to start as good writers are always in demand.
To get started, you'll need to create a profile on sites like Upwork, Fiverr, Freelancer, and PeoplePerHour. These platforms connect freelancers with businesses seeking specific services, so you can browse jobs and bid on projects.
It's easy to get started with freelance writing, especially if you have experience as a journalist or blogger. But if you're just starting out, here are three tips to consider:
- Find a niche: Choose a topic that you enjoy learning about and write about it regularly.
- Build relationships: Once you build a reputation as a reliable writer, you'll attract more clients.
- Network: Join groups related to your industry and attend events.
You can charge anywhere between $0.05 to $0.07 per word when you're starting out and slowly building your portfolio from here.
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Web design & development
There are plenty of businesses that require web designers and developers. These services range from creating custom eCommerce sites to building responsive WordPress themes.
There are also companies that specialize in designing landing pages, brochures, logos, etc.
These types of jobs are perfect for freelancers who enjoy working independently and don't mind having a flexible schedule.
Website design & development is a great idea for an online business as there are many templates you can use for free online!
Creating simple websites for your clients only require installing WordPress, installing a theme, and making minor customizations.
For more complicated projects, there are drag-and-drop builders such as Elementor Pro that you can use to customize the website.
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Tutoring
Tutors are usually paid hourly rates, but tutoring services can also be offered on a project basis. Tutoring projects can range anywhere from helping someone learn how to play the guitar to teaching English online.
Depending on the type of tutoring service you offer, you may charge different amounts for each lesson. Some tutors charge $20-$30 per hour while others charge $100+ per hour. Whatever amount you decide to charge, it's always a good idea to set a price that covers your costs plus a bit extra for profit.
Tutoring can be done online via Skype, Zoom, or Google Meets, you don't have to leave the comfort of your own home!
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Affiliate marketing
Affiliate marketing is a type of performance-based marketing in which other companies pay affiliates to send visitors to specific sites.
These affiliate programs usually require signups or other forms of registration before users receive anything from the program.
Affiliates earn commissions based on various actions taken by visitors to the site, including purchases made by customers who click on links within the affiliate’s website.
To start with affiliate marketing, you'll need to grow an audience. Choose a platform of your liking – TikTok, YouTube, or even a blog – start creating content, and recommend products or services that you like and are paying good affiliate commissions.
Affiliate marketing is a great online business idea as you get paid for recommending products you're already using without incurring many costs. The only cost you'll incur?
Your time in creating content.
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Accounting or bookkeeping
Bookkeepers and accountants are usually hired by businesses to handle financial records and other accounting tasks. While this job involves keeping track of money, it does not necessarily require advanced math skills.
Most bookkeepers and accountants are self-employed and charge hourly rates based on experience level. Depending on the type of business, bookkeepers and accountants can earn anywhere from $20-$50 per hour.
Some bookkeepers and accountants offer additional services, including payroll processing, tax preparation, and bookkeeping software. These types of professionals typically charge extra fees for these services.
While bookkeeping and accounting jobs aren't always glamorous, they are very useful and are always in demand for entrepreneurs who want to run their own businesses.
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Become a virtual assistant
Virtual assistants are becoming increasingly popular among businesses that want to save money while outsourcing certain tasks. Virtual assistants perform administrative duties like scheduling meetings, managing emails, and answering customer service inquiries.
There are several benefits to hiring a virtual assistant, including saving money, having someone to delegate tasks to, and gaining valuable experience. But before you jump into the world of virtual assistance, consider whether you really have the skills needed to become a successful VA.
Before you begin working as a virtual assistant, you'll need to learn basic computer skills like typing, formatting documents, and navigating online platforms. Once you've mastered these skills, you'll need to develop strong communication skills. You'll also need to be able to multitask effectively and prioritize projects. Finally, you'll need to be organized and possess excellent organizational skills.
There are plenty of online resources available to learn how to become a virtual assistant, including sites like Upwork and Fiverr. Virtual assistants typically charge anywhere from $5-$20 per hour depending on the task.
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Dropshipping Business
Dropshipping is a popular online business model used by thousands of entrepreneurs who sell products directly to customers via Amazon.com. Dropshippers put products on sale on their website or marketplaces like Amazon, and then resell them to customers.
The difference between dropshipping and opening an online store is that you don't have to buy inventory and don't handle the fulfilment part of it.
So when a customer orders from you, you take their order details and place an order with the manufacturer. They will then pack and ship those goods to your customers.
There are several advantages to dropshipping over traditional retail businesses. First, you don't need inventory or store space. Second, you don't need employees or a brick-and-mortar location.
Third, you can set your own prices. Fourth, you can choose exactly which products you want to carry.
And the best advantage you'll have is that you don't need a lot of capital to start with.
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Selling Online Courses
Online courses are becoming increasingly popular among those who wish to expand their skill sets or shift careers. There are plenty of online course providers out there, including Udemy, Teachable, and Skillshare. These platforms offer courses ranging from basic skillsets to advanced degrees.
To start making money from selling courses, you have to know what to teach. Think about what you're good at. Are you good at your hobbies or at your job? These can be potential subjects that you teach others.
Once you know what you'll want to teach, create a lesson plan, record yourself, and then put your courses up on these platforms. You can then begin promoting your courses to your friends or Facebook groups revolving around the subject.
Don't worry about not being an "expert" in your field. As long as you have good knowledge about a certain topic, there are students who are willing to pay for it.
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Blogger
Blogging is a great way to share your knowledge and expertise with others. Not only does blogging provide a platform for you to express yourself, but it also gives you the opportunity to build relationships with other bloggers who share similar interests.
Blogging is a great way to build authority online and drive organic traffic to your website. Blogging is easy to set up and requires no technical skills. All you need is a computer and an internet connection.
Select a niche, think of content ideas, and start writing!
To create a successful blog, you'll need to write regularly and consistently. Once you begin blogging, you'll probably notice that you have a natural tendency to talk about certain subjects over and over again. Don't worry; this is normal. Just try to avoid repeating yourself and focus on creating unique content that provides value to your readers.
Conclusion
In conclusion, online business ideas aren't limited to just selling products. There are plenty of opportunities available for everyone who wants to make their mark online. For example, you could set up a blog where you write articles and share information with your readers. Or you could sell advertising space on your site.
My advice as an affiliate marketer, blogger, freelance writer, SEO consultant, and web developer – whatever you decide to focus on, keep in mind that you'll want to build a strong foundation before launching your venture. That means doing lots of research and learning from the mistakes of others.
Once you know exactly what you want to do, it's time to get going! Start small and grow slowly; you never know where your idea might lead you. Just remember that you won't succeed overnight, so don't expect too much too fast. Instead, focus on building a solid base of loyal customers and followers, and watch your success grow over time.