With the boom of the internet, starting your own online business has become a real possibility. With minimal start-up capital you can start your new venture with ease. Before you decide what type of online business to start it is good to consider this question first:
What is the problem you are trying to solve? Go on to forums and search the internet to see what people are asking, and decide if you are able to offer them a solution. See what competitors in your market are doing, and if there is a gap how they are trying to fill it. By doing this research you will be able to choose a solution which will have more potential to be successful.
After you have found the problem here are different types of businesses you could start:
Offer your services
Do you have a flair for writing? Do you have exceptional organizational skills? Then you could become a freelance writer or editor, or a virtual personal assistant. There are a variety of online websites where you can advertise your services. Furthermore, you could create a basic website to advertise the expertise which you have on offer.
Make something and sell it
If you are creative and skilled with your hands you can make a product and sell it on websites like Etsy or eBay. People love to purchase items directly from the producer. If you don’t have money to produce your product, then try to presell the product with premise that should you not go into production the people will get their money back. By pre-selling your product you will also be able to see what the market is like for your product.
Affiliated marketing
Do you have a passion for books or are you a tech guru? Do you have a blog? If not it is very easy to create. When you have your blog set up then you can create reviews of your product and add affiliated links to the products. Every time someone clicks on your link you will get commission if the person buys the product. This is a great way to get passive income.
Sell advertising space
Do you have a blog? Does it get a lot of traffic? If so you could sell advertising space to businesses that are related to the topic of your blog.
Resell items
You could set up an online store that sells goods which have already been produced. By using drop shipping as a method of supplying the goods to your customers, you won’t have to worry about storing the stock as the goods are sold directly from the manufacturer to the customer. You could also go to garage sales or antique shops and find items of value which can be repurposed or sold as they are. With a mark-up on these product you will be well on your way to making some good money.
By using one of these ideas for an online business, you could be well on your way to becoming a successful online entrepreneur. With passion and a great idea, you will be unstoppable.
Brought to you by the NSBC.