Online business is the most accessible gateway to become an entrepreneur and make money without any significant investments. Setting up a business online may not require a substantial investment or a vast workforce. During this pandemic and sequential lockdown, you can find ways to start a conducive business.
But one thing that is the most essential part of starting is the idea. Not having an idea and setting an unattainable goal is one of the common issues that lead to business failure. You can only set attainable goals when you know ‘how’ to do it. Here are some ideas you might want to purse.
1. Start a Dropshipping/Ecommerce Store
Dropshipping is an ecommerce business model and retail fulfilment process where the seller (you) does not keep any products. The seller only displays the product in-store, whenever buyer purchases a product the seller source the product from a third-party supplier and shipped directly to the buyer.
The customer pays the seller, and the seller pays the supplier.
It is one of the easiest methods to jump into the bandwagon of online selling business. To start a dropshipping business, you need the following things,
- An ecommerce platform to set up an online shop (Shopify Recommend)
- A supplier to source product
- Marketing and advertisement (Facebook and Instagram)
All you need to do is to find a profitable niche and trending products to sell in your store. Get a reliable supplier or manufacturer to the source. Run Facebook ads to find the most relevant audience to sell products instantly. Receive the orders and redirected them to your suppliers. Pay your suppliers and receive the payment from your customer.
2. Instagram Account Flipping
Buy or create an Instagram account, optimize the account for some months, increase the followers, and sell it for higher prices. To get started with this online business idea, you need some smart working, automation, and knowledge of the topic of your Instagram page.
Choose a category. It would be best tochoose a category in which you have some prior knowledge. It is massively significant for you to know what your audience would prefer to see.
Create an Instagram page. Add at least 15 relevant posts within 15 days (post/day).
Use the Automation tool to follow and unfollow relevant people.
Grow your Instagram page up to 10k followers. Once you get enough followers, go to Social Tradia and list your account for sale. An Instagram account with 10k – 20k followers can quickly sell for up to US$500.
3. Start an Affiliate Business/ Become an Affiliate Marketer
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
Promote someone else product on your platform and earn a commission.
First, you need to create a platform to generate a loyal fan following and BUILD YOUR AUTHORITY in any particular niche.
It can be either your website visitors, Instagram page, or personal profile. You need some kind of following who trust your platform.
The most important feature of becoming a successful affiliate marketer is to build a reliable platform.
If people are watching your content, then you can easily convince them to buy from your medium.
Make your authority, grow your audience, and become an affiliate marketer
4. Start an Online Agency (Writing, Designing & Developing Services)
If you have any skills or working as a 9 to 5 job as a content writer, graphic designer, or webdeveloper, then you can easily start your agency to provide these services.
Although It has become quite a cliché online business idea, it still has a lot of potential for consideration.
Note: This business idea is ideal for anyone with freelance experience or someone with a PR in respective industries to increase your clientele quickly.
Graphic designing, website development, and writing is a kind of field that work side by side.
For example, if a client comes to your platform for website development or infographics, you will require a content writer to fill up the words.
So, I would recommend offering all these services if you are planning to start an online agency.
Gather multiple experts from different departments, mainly content writers, graphic designers, and website developers. Make the contract of outsourcing and discuss the rate on an hourly basis.
• Make a website to look professional and display the services of your agency.
5. Become a Virtual Assistant
It is not mainly an online business, but it is one of the trending online jobs right now that cannot be ignored.
Virtual assistant jobs are one of the common and easy to do tasks that most companies prefer to outsource rather than hiring a full-time employee.
If you think of yourself as an organized person who just wants to earn money online, then a VA job is the best option for you.
The most business owner who starts a business requires doing many tasks, including social media manager, cold calling, writing product description, listing products online, etc.
You must have the idea now that a VA helps the business owner and entrepreneur for their personal as well as professional work. All you need is a steady Wi-Fi connection and a laptop.