Starting an online business is probably the best decision you can make in 2020. Following COVID-19 and massive job losses throughout the world, this is a choice that just makes sense.
Even if you have been able to hold on to your permanent job, an internet-based business will bring in an extra income. Following financial losses, almost everyone can do with extra money to see them through this period and beyond. Read on to find out what our 7 top choices are to kickstart your online business in 2020.
1. Start a content writing portal.
Sure, this online business may seem like an old hat or that it’s been done to death. A closer look, though and you’ll find that this is probably the quickest and easiest way to build new income.
You may have experience with dog walking or making craft items, or you may be good with figures. Put your talents and hobbies to good use by writing a blog. Set up your blog online, free or paid, and start marketing your skills to help others.
2. Find an online business for sale.
Maybe you don’t want to start at the beginning but want to look for an established business that is for sale online. Do your research and look into buying or exchanging an eCommerce business.
You may find that your passion is better suited to digital marketing or selling pet food and look into purchasing an established business in these areas. If you already have a business and want to change direction, look at swapping an eCommerce site that you think you can manage better.
3. Fancy being an online teacher or a coach?
Several online businesses cater to private coaching lessons or offer online learning courses. Develop courses for the online environment in which you excel. Create an online course and offer this at learning websites and once you are successful, create your own portal.
You can resell the same product over and over again. Offer online language courses face to face or in small groups, or use your motivational skills to coach others to excel in life. They may just need that little extra encouragement to create success in their chosen field.
5. Test your eCommerce talents.
Various online platforms are now offering drop shipping business models that are already developed. Drop shipping simply involves having a website that offers sellers a space to advertise their products.
Buyers place their orders online, and you send all the shopping orders directly to the seller. They take care of all orders and shipments, and you take a cut of the total order. You have very little involvement in direct sales made, which takes a lot of the responsibility and angst off your shoulders.
6. Graphic designer talent.
Create a basic website to start your own business, and then contact digital marketing agencies to subcontract your skills to. Once they see that you have your own website with a range of work samples, they’ll be more likely to take you seriously.
Businesses are constantly looking for help with branding, especially small online startups that need affordable help in this area. Advertise your skills across freelance platforms, keep your prices competitive, and even create online teaching courses to help others learn this skill.
7. The ’influencer’ business.
Exercise your passion for fashion or love for food or travel to get out there and cause a stir. Once you’ve attracted a healthy following of over 100,000 people or less—you will attract business. Instagram influencers can earn anything from $400 to $5.800 or more for every post they add.
Multiply these figures by 4 posts a week and they’re earning a pretty decent income. Just don’t become arrogant or you will quickly lose business as several influencers have recently discovered.
8. Create your own podcast.
People are really starting to hone in on favorite podcasts. Choose a niche area of interest, look for people to interview who align with this interest, and start building an avid audience.
Obviously, you will need the necessary equipment to get this type of business started online, but startup costs are low. You will also need to find a podcast hosting site that is able to store all your interviews or talks, and distribute these to places like Spotify, iTunes and others.
9. Become an online assistant.
Are you good at online research, making appointments and organizing someone else’s calendar? Are you good at responding to emails, checking documents and balancing travel arrangements? If your answer is ‘yes,’ you may be well suited to starting your own VA business.
All good business ideas should have their own website because it looks more professional. Go free or purchase a website at a low monthly cost from any number of providers. Then start marketing your skills on LinkedIn and other platforms where professional services are in demand.
10. Social media agency.
Big brands are always looking for social media managers to manage their brand reputation. If you spend most of your time on social media, consider putting your interests to good use and create another income.
Influencers and small businesses typically outsource this service because it is so time-consuming. If you understand target markets and what different demographics like, you could kick start your online business with one or two small accounts and quickly grow these into a self-sustainable business within a year.
11. Web Development agency.
After you learn how to build your own website, put your new skills to good use and start a web development agency.
Approach various sites to offer your skills as a consultant, and offer your skills to individuals who want to run their own businesses. Your help can create an entire new economy.