7 Best Online Business Ideas – An Essential Guide

7 Best Online Business Ideas – An Essential Guide

Many people like to work from home because there are many benefits from a business perspective. Starting an online business gives you autonomy and helps you avoid the traditional 9-5 job. Plus, it allows you to reach your targeted audience and turn them into loyal customers. 

A recent report shows that 90% of homeworkers plan on working online to create a steady flow of income and increase their return on investments (ROIs). In today’s article, we will give you the seven best online business ideas that you can start quickly. Read on! 

1. Affiliate Marketing

Affiliate marketing is a profitable option for beginners, but it requires commitment and dedication for a long time. It refers to promoting a third-party’s product through your website, and every time someone buys the product, you earn a commission. 

Amazon’s Associates is one of the most popular affiliate programs, where you fill millions of products that you can promote. It is crucial to focus on building a user-friendly, responsive, and content-rich website with proper SEO to rank higher on Google and other search engines. 

When you review products and drive a significant number of visitors to a third-party company’s website, you can earn up to 50% commission. However, this depends on the types of products you choose and your promotional strategies. You can earn 10% of commission on selling products from amazon. Other popular affiliate programs are:

2. Blogging
Starting a blog is a popular online business idea, especially for beginners. Not only is blogging fun and creative, but it also provides value to online users, and you can make a lot of money. Financial Samurai reports that bloggers can earn $10,000 to $100,000 from 1,000 monthly visits depending on their niches. 

Choose a profitable niche that engages users. You can earn money from any niche or topic as long as you get organic traffic from Google, Bing, Yahoo, or any other search engine. There are various blogging platforms to choose from, but experts recommend WordPress. 

According to OptinMaster, WordPress hosts over 60 million blogs and is one of the best content management systems (CMS) for bloggers. Focus on posting high-quality content if you want to earn some serious cash. Experts recommend at least three high-quality blog posts per week.

You can monetize your blog with advertisement programs, such as Google AdSense, Ezoic, Ad Thrive, or Info links. Other monetization options are affiliate marketing, selling ebooks, courses, digital products, and coaching services. 

3. Vlogging

According to Oberlo, YouTube is a popular video-sharing platform, with over 2.3 billion users worldwide. There were over 37 million channels on YouTube in 2020, and the growth rate of channels on this video platform is a whopping 23%. 

On average, a YouTube channel with 1,000 Ad views can earn around $18. It translates to $3 to $5 per 1,000 video views. It is easy to earn money via Vlogging because all you need is a content topic, a high-quality camera, a microphone, and high-speed internet. Make sure you choose a video niche that provides valuable information to the viewers. 

According to Google, a YouTube channel must attain 1,000 subscribers and receive 4,000 watch hours to qualify for monetization. Therefore, you have to work diligently and with dedication at the start before starting to make money. 

4. Freelance Writing

Freelance writing is a profitable online business and an excellent way to earn money. If you are an IT expert, you can write IT-related articles. Likewise, if you are a medical practitioner, you can write health and wellness articles. There are endless opportunities for freelance writers to make a decent living. 

You can join freelance sites like FiverrUpwork, and Outsourcely. Because Fiverr has a gig-based system, you can get writing projects quickly. You can build your own website to offer writing services, but for that, you need a strong portfolio and marketing strategies. 

Research shows that freelance content writers, on average, make $30 per hour. You can earn more because it depends on the number of clients you have, your experience, skills, and profile reviews. 

5. App Development

The demand for Android and iOS apps has risen in recent years. Research highlights that people in the U.S check their smartphones every 12 minutes. Another study shows that Americans spend 90% of their phone time on apps. 

If you have excellent programming, creativity, problem-solving, communication, and analytical skills, you can develop Android and iOS apps. The plus point is that you don’t have to worry about the shipping costs when selling apps. 

Likewise, app development does not cost you money, and all you need is a commitment, dedication, and time. You can make thousands of dollars every month via Ad revenue if you have an app that provides value to users. 
6. Coaching

If you have coaching expertise, you can make money via Skype by sharing your advice, wisdom, and skills with anyone at any time. An average life-coach earns around $160 per hour, while a business coach makes up to $230 per hour. 

However, starting an online coaching business requires careful planning and preparation. Choose a niche, find your unique selling proposition, decide promotional channels (social media, referrals, partnerships), use technology tools, and stay up-to-date. 

Follow a step-by-step approach to build a sophisticated and profitable coaching business. Research the best practices and test various methods to analyze your results. Maintaindiligence, devotion, and perseverance to generate substantial revenue. 

Coaching Area or NicheAnnual Growth Rate
Healthcare7.1%
Education4.8%
Management3.6%
Business Coaching3.5%
Marketing3.6%
Personal Training3.2%

Source: Miles Beckler

7. Search Engine Optimization (SEO)

SEO is one of the most demanding niches online, and people who have excellent digital marketing skills can make a significant amount of money. Because 71.33% of online users click on the first SERP on Google, every business, company, blogger, and eCommerce owner wants to rank their websites. 

Considering the potential of SEO, it is a life-long opportunity for freelancers to make a steady flow of income. You can also launch many websites and blog with the right SEO skills. 

There are numerous free and paid resources available online to flourish your SEO skills. You can watch videos on YouTube, take an online course on Udemy, or buy books to learn and practice SEO. Once you have mastered the skills, you can sell your services on Fiverr, Upwork, or your own website. 

Final Words

Starting an online business offers tremendous benefits and represent a cost-effective and autonomous alternative to a traditional 9-5 job. If you want to start an online business and earn a decent profit, explore your opportunities, make a plan, and enhance your skills.