This article attempts to throw light on the multitude of opportunities available to start an online business. It is a continuation of the first part, where I had listed nine online business opportunities.
Let’s have a look into the remaining eight:
10. Affiliate marketing: Affiliate marketing is yet another type of marketing business where a commission is earned by promoting a third party’s products.
There is a specific guideline on how Affiliate marketing is done. You only need an
online store or domain possession to become an affiliate marketer, but some entities might require you to have a stipulated amount of traffic or specific content to collaborate with you.
Skills required: Strategic Prospecting Skills, Interacting Skills, Sales and Communication Skills, Networking Skills, Content Making.
11.Virtual assistant: Virtual assistant is another self-employment model wherein the employee offers various services ranging from administrative tasks like answering emails, scheduling meetings, etc., to creative and social assistance to the employer.
Skills required: Oral Communication and Writing Skills, Computer Skills, Analytical and Decision-Making Skills.
To start working as a virtual assistant, you might have to search for clients yourself by showcasing your skills on Freelancing websites. There are many Freelancing websites like Upwork, Truelancer, TaskRabbit, Zirtual, which you can use.
12. Social media manager: As a social media manager, you are required to represent a company across various social media platforms and create content to enhance their online presence by acting as the sole voice of the company.
Skills required: Content Creation, Creative Thinking, Strategizing, Content Promoting, Social Media Expertise, SEO Knowledge, Adaptive Skills and Communication Skills Along with Quick Decision-Making Skills.
13. Domain name flipping: Domain name flipping is as simple as buying a domain name for a lower cost and selling it away at a profit immediately without adding anything to it! Best places to sell domain names: Godaddy auction, Flippa marketplace, Efty website, BrandBucket, Namepros forum.
Skills required: Keyword Research Skills, Negotiation Skills, Marketing Skills, Market Researching.
14. Stockmarket: The stock market is an aggregation of buyers and sellers where the trading of stocks takes place. The best way to make money from stock markets is to trade on strategies where your capital is protected and you have consistent profit throughout the investment.
To be more specific, as an investor in stock markets, you need to focus on total return and decide to invest for the long term. There is no fixed strategy to trade in the stock market. And the avenues of stock market trading are almost infinite; some of them are Upstox, Zerodha, 5paisa.
Skills required: Interest and in Financial Markets, Numerical Skills, Research Skills.
15. Software as Service business: Software need not mandatorily imply conventional office work always. With the developing technology and the rising significance of the internet, software has taken a new shape.
It can offer several opportunities like Payment gateways, social media analytics, blog services, cloud services. Software as a service business possesses a platform online. It provides the users any technical support, access to its functionality, and additional services on a monthly or annual subscription basis.
Skills required: Coding Skills, Communication Skills, Marketing Gifts, and Other Technical Skills.
16. Amazon FBA: Amazon FBA (fulfillment by Amazon) means selling your products by sending them to the Amazon warehouse; they will deposit the products till you get orders and deliver them once you receive the orders. Delivering is not your concern, and when the product is delivered, you get your payment.
Skills required: Content/Descriptive Writing, Marketing Skills, Pricing Skills, Choosing A Product Niche.
17. Consulting services: Consulting services comprise of the assistance offered to the customers. It could be for the development, management, installation, or testing of the products or technology for a fee.
To engage with the clients, you either need to have a domain of your own and drive the traffic to your domain or do freelancing on freelancing websites like Freelancer, Upwork.
Skills required: Communication Skills, Niche of Your Choice.
The internet is now nothing less than a global communication tool. The increasing reach of online businesses opens up avenues for diverse customer-client interactions and opportunities without any territorial restrictions. Most of them require negligible to zero investment!
Before creating a web, presence and strategizing on the rivalries, a clear plan for the content and implementation are the first and proper steps in this direction. A webpage/store/freelance profile without an engaging profile or information may not bring back visitors, limiting the chances of success. A perfectly chalked-out plan and persistent efforts