Profitable online business ideas
struggle to come up with profitable online business ideas for yourself ? With the right business model, it is possible to create profitable online businesses. This article is about top 5 profitable online business ideas you can start right now.
i’m going to be sharing with you five profitable business ideas that you can start today and when i say that when i say you can start them today. What I really mean is that you can start them right now.
even if you have absolutely no experience running a business yourself or doing any sort of service work or selling goods yourself.I feel like this doesn’t get nearly as much exposure. it’s quite an underrated business opportunity.
1. JOB SERVICING
What is job servicing? In a way, it’s similar to an agency business model, where you work with multiple clients and you have people working for your company to provide services for those clients, but it is primarily different from an agency business model.
because you don’t have employees who are working for you and so you don’t have the hassle of managing employees. Additionally, you don’t have to worry about the sometimes significant expense of hiring employees.
First of all, you are going to choose a service that your business will provide to people. Now this does not need to be a service that you are personally capable of giving to people.
it just needs to be a service that there is demand for something that you know that people pay for and even if you don’t have much experience with a little tiny bit of research.
You can certainly think of a number of different services that people are willing to pay for. I am talking about things like video editing, text editing, graphic design, and website design.
you know the sky’s the limit here there really are hundreds thousands of different services that people pay for so you just need to choose a service and then you need to go out there and you need to find some clients.
I will give you an example of what this might look like. Suppose that you want to have a business that provides video editing services, so what you could do is email youtubers and ask them if they need help with video editing.
if you go over to the about section of a youtube channel you are very likely to find that youtubers email address and if you target some mid-sized youtube channels.
I’m not talking about tiny youtube channels where it might just be a hobby and they may not be ready to outsource, nor am I talking about giants with millions of subscribers. I think you should target channels with a few thousand subscribers in the middle.
you email let’s say a hundred of these channels then you’re going to get quite a few people who are in fact interested in having you edit their videos but then what do you do because you don’t have video editing skills?
You go to sites like fiverr or upwork and you find a professional video editor who can provide some good video editing services, and you outsource the work that you have contracted with these new clients to those freelancers.
So you have some clients who pay you for services and you turn around and pay these service providers to do the work for you and of course you will charge your clients for the excellent work your company does.
these freelancers who aren’t doing the work of going out there to find the clients are going to be being paid less so for example you might charge 100 per video edit to your clients and then you’ll pay the freelancers somewhere between 25 and 50 dollars per video and then you get to pocket the difference that 50 to 75 dollars per video edit as profit.
The math is easy to figure out. If your clients on average produce four videos per month, then that means each client is worth at least 200 dollars to you, so if you have ten clients, then your business will generate 2000 per month in profit.
if you had 50 clients then you’d be bringing in over ten thousand per month in profit all without you having to do any of the video editing yourself what you are going to be doing is working on finding the clients facilitating communication and managing projects and in return you will get compensated.
If this business opportunity sounds interesting to you then the very first step that I would recommend is starting by writing a business plan. now i know what you might be thinking you have no idea how to write a business plan that sounds long
That sounds hard but I promise it doesn’t have to be like that, especially when you are getting started. I just want you to write a simple and nice plan. you have some idea of where you are going because we all know that phrase.
failing to plan is planning to fail and that you can’t get anywhere if you don’t know where you’re trying to go so just writing a really simple initial plan can go a long way and can make sure that you’re really building the business that you want to be building for yourself.
The next business idea you’re probably aware of is that the way that a lot of people make money online is by doing freelancing.
it’s a really common business model where you’re just providing services to clients it’s really simple it’s clean but the problem is that in order to do freelancing you need to have skill in something you are passionate and good about that you can provide yourself maybe right now you are starting at zero and you feel like you don’t have any skills but there are a few different freelancing opportunities out there that pay pretty decently and only really require you to have some decent common sense.
2. VIRTUAL ASSISTANT.
In summary, a virtual assistant is just like an assistant in an office who helps out with lots of little things but you will be doing those things instead. This is typically done online for digital companies, so you can do it from home most on your own hours which is one of the main appeals of working online and making money online. this business idea is really good.
As far as what a virtual assistant does essentially you’re going to be doing things like answering emails, managing calendars, maybe doing some really simple graphic design or website updates, doing some customer service and managing social media.
you might be doing all of those things you might be doing just one of those things and there’s actually a list of probably 50 to 100 or so different skills and services that virtual assistants can provide to their clients.
i’m sure that you already have some of these skills in your back pocket. are you interested in becoming a virtual assistant?
Then here’s kind of the basic process you’re going to follow: first you want to assess what skills you have so that you know what you can offer to your clients.
The second thing you should do is find your first clients. It’s usually the most challenging part of the process, so you might want to offer some of the professional work when doing this.
i know a lot of people are against working for free but i think that it is so worth it when you’re just trying to get your start in a new industry by working with a few clients for free you will get some really valuable practice working with clients.
if that’s something you’ve never done before it’s also going to mean that you can get some testimonials and maybe some reviews that you can share with other prospective clients maybe you can get a few reviews on say your upwork or your freelancer dot com page.
so that other future clients are more interested in actually working with you once you have a little bit of experience under your belt then you can start actually charging clients and when you come to that point i would recommend if you haven’t already done so creating a profile on upwork and freelancer
and really build it out by explaining the different skills you can provide and then from there you can start bidding on some jobs and working with your first clients and earning money online.
i also want to mention just a little hack if you can network in some facebook groups some entrepreneurial facebook groups i think you will find a lot of eager clients because people are always looking to hire virtual assistants but especially in the networking circles and the word of mouth Virtual assistants can actually get pretty expensive. A lot of virtual assistants charge between 30 and 50 an hour.
If you can undercut that market just slightly by just charging 20 to 25 per hour you will find that there are a slew of clients who are interested in working with you.
3. YOUTUBER
a lot of people feel like to become a youtuber would be an amazing job and business opportunity but isn’t it a gamble i mean what are the chances of you actually being successful with it well honestly higher than you might think.
It’s true that it used to be more of a gamble when youtube was just starting out; they didn’t really have much of an algorithm and the chances of you getting found on the platform were pretty random.
it was only if you happened to get found and accumulate a large number of subscribers that your channel would ever go anywhere and you could ever eventually earn money from it but these days things are a bit different because youtube has really perfected their algorithm they have built it into a super powerful machine that matches viewers with videos they want to watch.
if you can create good quality content here on the platform then it is almost certain that your channel will in fact take off and that your channel will grow and you will be able to earn a living as a video creator which i think is such a cool opportunity.
learn more about how youtube works and how you can work with the algorithm to grow your channel as quickly as possible so that you can get monetized as quickly as possible and you can start earning a living as a full-time creator.
4.PRINT ON DEMAND
what does print on demand means? Well basically it means that a product gets printed when it is demanded so what that means is only when a customer purchases a product does it get created.
Print on demand products are things like t-shirts and mugs and books. Anything that will be printed, of course, will be manufactured ahead of time, but they are blank, and then they can be printed with whatever design you wish.
A print on demand business requires you to create some designs and then put them on products from a print on demand company. then people are going to purchase those products. after they purchase them the print-on-demand company will finish creating the product by printing them and they will ship them out to the customer without you having to be involved in that transaction.
which is really cool because that means you don’t have to carry any inventory you don’t have to worry about storing the inventory it’s way less risky because you don’t have to pay for the inventory up front and of course it means that it’s way easier for you because you don’t have to deal with the hassle of shipping or anything like that.
and then how you earn a profit is your customers are paying at the price you’re charging but the print on demand company is charging you a lower rate.
for example you might be selling a t-shirt with a clever phrase on it and you might be charging 24 for that t-shirt but the print-on-demand company is only charging you ten dollars for the t-shirt itself and then six dollars for shipping which means that you are going to pocket eight dollars for every single t-shirt that gets sold pretty cool right.
so how you’re going to do this is first of all you need to decide exactly what kind of merchandise you really want to sell this really depends on you you need to make this decision for yourself who do you want it to be for and then think about what that group of people would like if you don’t have any brilliant ideas don’t worry at all because internet is filled with lots of inspiration. go scrolling on pinterest and certainly other marketplaces like amazon.
It is possible to come up with things that you can write on your shirts, mugs, or even notebooks and journals, in addition to getting some inspiration for the design. When you get that inspiration, you will want to go to canva, which is a free graphic design tool that you can use mock up a design yourself.
if you are really struggling with this of course you could outsource this part of the process to a freelancer you find on fiverr or upwork you could pay someone 5 10 20 maybe 30 dollars to create the design for you which of course is going to be money well spent if you are really struggling with this part of the process because it’s going to just save you much time once you have your design then what you’re going to do is you’re going to head to printfy you could also use a service called printful and you’re going to actually upload the design and create the product.
once you upload that design you’re just going to slap it on a mug or a t-shirt or whatever you want it to be and it’ll be done then the next step is to head over to etsy. create an account there and then connect your printify account to etsy account you then get your products from your
printify stores listed on etsy and why that’s so important is because you need to put your products in a place where they will get found and etsy has something like 80 million customers each year.
It is a great marketplace to put your products into. Once your products are listed on Etsy, you can make sure they have the right title and description so they can be found easily in searches.
then people are going to just start finding your products and buying them and when that happens i think this is so cool printfy is actually going to just immediately ship your product directly to the customer.
you don’t have to do anything at all you don’t have to ship it you don’t have to facilitate a transaction between printfy and etsy it just happens automatically and then you get to pocket the profit.
5. DROP SHIPPING
if you’ve heard of drop shipping before because i have a few tips and tricks i want to share with you that can help you to be a lot more successful with drop shipping and i also want to share some insights that i have about just how to succeed with it.
I know that it’s something that a lot of people talk about, and I know that a lot of people miss, because they’re just nuances that get overlooked.
first of all what is drop shipping? l it is a lot like print on demand in terms of a business model in that you are going to be selling a product that you don’t have an inventory that you did not manufacture and then when a customer purchases from you then the manufacturer is going to ship it out to the customer automatically without you.
You don’t have to maintain inventory, you don’t have to be involved in transactions, it’s just really easy for you, but the main difference is the types of products that are being sold and how they are being created.
print on demand they’re all printed products Typically the mugs or t-shirts or notebooks are getting manufactured ahead of time and then your logo or designs just get slapped on them and they’re getting shipped out.
However, with drop shipping you are going to be able to sell any product that is already being manufactured by a manufacturer. It can even be customized for your specific customers
but it won’t necessarily be it just kind of depends on what you want and that means that you can sell literally any product that’s being manufactured and that just means that there are so many more opportunities out there.
you can reach so many more different types of customers you can have bigger profit margins potentially. it’s just a bigger opportunity
Let’s look at how drop shipping works and how you can get started with it. Just like with print on demand, you need to start by choosing your niche and selecting the potential customers you’d like to target and figuring out what they really want then you need to choose the product itself. the best way to do this is to head to alibaba and alibaba is a website that’s kind of like amazon.
a global marketplace but it’s more focused on wholesale so it’s typically selling larger quantities of products unbranded products at a wholesale type price so on alibaba you can start by creating your account and then you’ll want to choose ready to ship as a product category.
Once you choose ready to ship then you will click on whatever sub category you actually want to sell a product from and then you’re just going to scroll through the products until you find one you like and then click on that product and then you want to of course kind of assess.
the product make sure it’s really what you want to sell and also assess the seller so check out their rating check out their reviews make sure that they look legit then what you’re going to do is you’re going to click on the contact button and you’re
going to reach out to the seller and tell them that I’m interested in selling their products and drop shipping them. Not all sellers will provide this service, but a lot do, and you’re going to learn from them.
As you set up the product so that it is drop-shipped from your website, you will learn a lot about the seller or manufacturer’s communication skills, which can be really important later on.
i’d recommend you do your research and you don’t rush this step once you’ve worked those details out with the seller then what you’re going to do is create your own website now of course you could just sell this product on etsy or even amazon
SETTING UP YOUR OWN WEBSITE
The other option that we haven’t discussed much is setting up your own website and selling a product there. It is true that you won’t be able to tap into all the customers that are on Etsy or Amazon.
you will be able to specialize a little bit more and kind of stand out from the competition potentially charge a slightly more premium price so you can create your own shopping website with a service like shopify which makes this really easy then you can add the products that you found on alibaba to your website and then what you need to focus on is generating
sales so how you can do this is typical digital marketing strategies like promoting your products on pinterest even making tick tocks where you use your products.
Use facebook ads or google ads. you have to be careful because of course those ads can get pretty expensive but if you have a healthy product margin and what that means is the cost that you’re selling the product for is significantly higher than the cost you are paying for the product.
for example let’s say you are selling a computer keyboard and you are getting the product from the manufacturer for twelve dollars each but you’re selling it on your site for fifty dollars well that means that you have 38 dollars to potentially spend on ads for every single sale and typically the more successful transactions you get the less you have to pay on ads.
and that’s both because the ad algorithms learn who is actually interested in buying your product and also because you start getting some word of mouth sales and you start getting positive reviews from people on your website which makes your conversion rate is higher which just means that a higher percentage of your leads or your website traffic will actually buy your products.
I would highly recommend that, before you begin any of these business ideas, you create a strategic plan outlining exactly what your business will be, how you’re going to grow it and how you’re going to run it.
that is where writing a business plan really comes in i know that step can be intimidating but i promise it doesn’t have to be So many people still do not know that these opportunities exist and think that they must stay stuck at their current income level.
