If you have your sights set on being a business owner or starting your own online business but don't have the knowledge or ideas on what type of business to start, this part of the article is just for you.
We have researched online business ideas that will bring in a significant return on investment with minimal effort and change how you do business.
We're all living in an age of technology and the internet. With its constant advancements, there is always a necessary or overlooked gap in the market for a new market or business idea. So strike while the iron and your concept are hot and take advantage of the technology available to you to earn money and make a significant profit.
Freelancing, dropshipping, and even online information creation are great examples of scalable online business ideas that will grow your profits without additional resources or overheads. You can read more about these ideas in the next section of the article as we give you a few ideas on the best scalable online businesses to start today.
Dropshipping is a popular form of e-commerce. Thanks partly to the COVID-19 pandemic that saw stores having to close their physical locations and move their operations online, dropshipping is more popular than ever as people do their shopping from the comfort of their couch.
Popular drop-shipping business ideas are those selling:
Dropshipping does not require storage facilities and can be done from absolutely anywhere.
This is a great way to do business as you are the middleman between the customer and the supplier. However, this has its downsides as you are held responsible when things go wrong. Still, you can avoid this by establishing a trustworthy supplier base and implementing processes to ensure a smooth transaction.
Online Information Creation
Do you know how to create an online course or information you can sell to customers via a website? There is a market for online courses, from training videos to language learning courses, as the world goes digital.
Online information creation can be a lucrative money-maker as people seek additional skills and information to add to their resumes or projects.
Great online information packets include:
• Training courses
• Cheat sheets
All you have to do in online information creation is to write one and watch the money roll in when people buy your product.
Fancy yourself a reviewer or blog writer? Affiliate marketing is a popular way to make money. Most affiliate marketing is now done via social media and is as easy as sharing a company's website on your social media page.
Affiliate marketing is a popular form of advertising that reaches many more people than other types of marketing typically would
How do you make money through affiliate marketing, you ask? Easy. Companies will pay you a commission for every sale made from a link or review you posted.
Build an App or Design Software
Create apps that automate a service or design software that can replace the need for a permanent hire.
SaaS (software as a service) products are great for big companies and help reduce the need for another hire to complete a task by automating that service. Moreover, a company would pay a license fee to use the service.
Options for license fees include a free trial and basic and premium software versions. The premium version would consist of most applications and can be sold at a higher price than the basic version.
Freelancing is an easy and great way to make money online. All you need is a skill, a stable internet connection, and a computer or laptop, and you can make money from home.
Sign up or subscribe to one of the many freelancing websites like Upwork and Freelancer.com. Create a profile, provide a few examples of your work, and apply for any of the thousands of positions posted daily. Choose from a once-off or longer-term project that will keep you busy for six months or more.
A few of the popular options when freelancing are:
• SEO writes
• Content writers
• Translation services
• Captioning services
These are only a handful of the fields available.
While no real skills are needed, it does help to post your education and work qualifications, as these allow you to land jobs that pay more.
Freelancing is great for anyone who wants to make extra money, and as we mentioned before, it is easy to do from just about anywhere.