Physical resources are no longer a necessity to run a business. If you are looking for unique money-making ideas online that you can readily turn into a stable online business, this blog is for you.
I have laid out 17 successful online business ideas along with some tried and tested strategies. A lot of helpful content is available online to help you implement any of these strategies if you’re an absolute beginner.
Let’s get started without any further ado:
- Drop Shipping: Dropshipping is a type of order fulfillment business model. The retailer/company is not required to hold the stock of products; instead, they need to partner with the manufacturer/wholesaler and list their products on their site for sale.
Once the retailer receives an order, he/she forwards the order to the manufacturer/wholesaler, who then ships the order to the customer and charges the retailer only for the price of the shipped product.
Some top Drop Shipping tools: Dropified, Alipay, Oberlo, Shopify.
Skills required: Content Writing skills, Effective Marketing skills
2. Print on demand: Print on demand, also called on-demand printing, is a type of drop shipping practice that allows the retailer to sell the products you make your custom design. For example, mugs, t-shirts, hats. You can print custom digital content on various products using this business model and then sell your customized plans to retailers. This way, you can expand your store and establish your brand.
Skills required: Designing Skills, Marketing Skills, Descriptive Skills.
Some of the sites that support print on demand business: Shopify, Printrove, Qikink, Snazzyway.
3. Drop Servicing: In Drop Servicing, you sell the services, but it’s not you who offer the services. You have to find people who do it for you just as you find products in drop shipping, and your job is to market these services and earn a profit margin from the orders received.
Skills required: Customer Service Skills, Sales, And Communication Skills.
Intermediaries of Drop Servicing: Fiverr, Freelancer, People per hour, Upwork.
4. Coursera: Coursera is an American online learning platform that offers its customers various courses in diverse fields and subjects. For example, Programming, Robotics, Astronomy, History. Coursera videos are generally free to watch, but you can also create paid courses and issue certificates who join your course and charge them an amount reasonable to your course content.
Skills required: Teaching Skills, Editing Skills, Description Skills.
5. Sell digital products: Digital products are intangible products that exist only in digital forms. Ex: e-books, Articles, Music, Digital images, Software, etc. There are various ways to sell your digital goods online with little to no investment required by just creating your domain or store online.
Platforms for selling digital products: Instamojo, Shopify, Amazon, or create your eCommerce website.
Skills required: An Exciting Niche, Marketing Skills, Strategic Prospecting Skills.
6. Sell a white label product: A white label product is a product that is manufactured by an entity but sold by a third party by rebranding it. It usually happens by removing the logo and changing its name. There is an insanely large number of ways to sell white label products, which are pretty easy to do, and there are many tools in place to help you succeed.
Some of them are Shopify, Amazon, Instamojo.
Skills required: Digital Marketing, Marketing Software, Content Creation.
7. Freelancing: Freelancing is a self-employment model in which people often work on several jobs for various clients at one time by offering their services to the clients.
Freelancing Websites: Freelancer, Upwork, Truelancer, Guru, and Fiverr.
Skills required: There is a wide range of fields you can choose to work in the Freelancing world, and there are no specified set of skills needed. You are free to select your area of interest depending on your skills, ranging from copywriting to software designing.
8. Youtube: Youtube is an American video-sharing platform where you can upload videos by creating a channel of your own by linking your Google account to Youtube via the Youtube account page. There are a plethora of ways to monetize your Youtube channel by uploading videos: Adsense, Affiliate marketing, promoting products.
Skills required: Video Making and Teaching Skills to Monetize by Making Videos, Marketing Skills, Customer Service Skills.
9. Blogging: Blogging has evolved as one of the most common and appealing ways to make money these days. And it is not necessarily making content that can earn you some bucks but owning a blog can open up more avenues to make money in many different ways. For example, Affiliate marketing, product promoting, AdSense, write advertorials and sponsored content, work as an Amazon merchant, sell products, and these just form the tip of an iceberg!
Skills required: Networking Skills, Writing Content, Interaction Skills, Discipline, Time Management
Some of the best Blogging apps or sites include: Blogger, Medium, Tumblr, Weebly
Stay tuned for the continuation of this post in the second part of the online business guide!