Many of the business ideas mentioned here are completely home-based and typically do not require that much capital to start.
The trick will be finding your customers, keeping them, and making them happy with your services enough to justify the kind of price you would ask. That being said, here are some simple business models you should consider:
1. Sell Your Crafts Online
There are platforms such as Shopify and Etsy that allow you to sell anything you want online. If you are good at creating things such as sweaters, clothes, or art, then you can host them on Etsy and advertise them for people to buy online. On Shopify, you can literally build a digital storefront where you can sell a wide variety of wares.
The idea is to find something that people like buying, find out where those people hang out online and redirect that traffic to your digital store. It takes quite a bit of work, but it is worthwhile. You will have to:
- Create high-quality products
- Create high-quality content to lure the traffic
- Deliver on your sales to get great reviews
After that, you rinse, repeat, and scale up your business as you see fit.
2. Professional Blogging
Technically speaking, about 1,000 websites are created every minute and hosted online. While that may seem like a huge number, the truth of the matter is that most of these websites do not offer the kind of value that readers like and want to be associated with.
Only a handful of the blogs online today give readers the kind of evergreen content that they keep coming back to; content that binds them to that blog and makes them lifelong readers and customers.
This opens potential business opportunities for those who have a flair for words. Starting a blog and monetizing it is one way to make a living online. The earning potential here is immense.
Here is a list of some of the highest-earning blogs online:
- Gizmodo: $325,000 per month
- Perez Hilton: $575,000 per month
- CopyBlogger: $1,000,000 per month
Bigger, more popular blogs like the Huffington Post earn more than $14,000,000 a month. $14 Million a month! If that is not madness, we don’t know what is! The point is, starting a blogging business is – big business. Potentially.
You will need to set yourself apart though if you want to succeed. Some of the things you will need to do include:
- Creating an attractive and easy to navigate website, to begin with
- Offering evergreen, current, and relevant content
- Finding a niche that gets a lot of traffic
- Using the right keywords that will help drive traffic to your website
- Monetizing the blog through avenues such as Google Ads or selling your own merchandise on it
- Finding ways to engage and grow your audience.
Yes, it is incredibly taxing work to start, but once you get going and start making money, the growth can be exponential. It could take years for your blog to become profitable, but with consistency and high-quality content, it WILL be profitable.
Anyhow, if you’re ready to get going, find a cheap hosting plan to get started with. Bluehost offers plans starting from $5.95 per month if you’re looking for reliability at a justifiable price.
3. Get into Affiliate Marketing
Have you ever wondered how companies such as eBay and Amazon make their money? Yes, they sell things online but how do they get their traffic? They use affiliate marketers.
Affiliate marketing is the art of harnessing online traffic and redirecting towards a certain platform or product and making a commission every time someone buys that product or from that platform using your affiliate link.
It is very much like being a digital salesman, only you do not have to get horrid body aches as you walk from door to door. Imagine the kind of potential for income this business has. Platforms such as Amazon offer up to 10% commission on every item purchased using your affiliate link. Other platforms and vendors offer higher commissions, some even going as high as 50% – 60% or more.
It is estimated that the affiliate marketing industry will grow to around $6.8 billion in the next half-decade. There is a lot of money to be made out there, and all you have to do is find a way to redirect traffic. Some of the most successful affiliate marketing websites include platforms such as “This is why I’m Broke” which makes about $50,000 worth of commission every single month.
The good thing about this is that starting a blog isn’t that expensive. In fact, there are platforms such as Wix that allow you to build a website for free and very quickly. Of course, if you want to go professional, which is advisable, you are going to have to pay a designer and content creators who could increase your overhead expenditure a bit.
All in all, you could start a blog today and get well underway to making money passively in the future.
4. Become an SEO Expert
As an SEO expert (Search Engine Optimization), your primary job will be to help websites rank higher on search engine results pages. SEO is one of the most critical factors that affect web traffic. To reiterate just how important this is, studies have shown that falling below position 5 on Google’s first page removes about 75% of all the potential traffic your website might have got had it been higher. In fact, being the number one link on Google’s first page gives your website a third of all the potential traffic directed towards your specific keywords on Google.
That is millions and millions of potential clicks lost just because websites have not hired an SEO expert. Most webmasters know this, and some try to carry out SEO on their own. But to be honest, the kind of patience and technicalities involved with proper search engine optimization is either beyond most people or requires too much work and time. That’s where you come in.
As an SEO expert, some of your duties will include, but won’t be limited to:
- Researching high-traffic keywords for your clients
- Keeping up to date with Google updates
- Making sense of Google Analytics to your client’s advantage
- Analyzing and editing web content for your clients
- Keeping atop of industry trends as well as best practices
To start this kind of business, you will not need that much money. In fact, all you would need to do is create a website that advertises your business. Your website needs to be professionally done if anyone is to take you seriously. It also needs to rank well on Google because you cannot say that you will help them rank highly while your own website is languishing in the dark corners of the internet. You will also need to actually know a thing or two about SEO.
5. Internet Research
This line of work applies to those who are interested in learning new and diverse things online. However, to make money as an internet research assistant, you need to carve out a highly specific niche – one that is willing to pay you to find out information that cannot be easily found by a simple Google search. Notable examples of the kind of services you could offer include things like:
- Academic research for students, scholars, and other academics. In fact, college students pay handsomely to have expert researchers to help them out with their school term papers.
- Data research for scientists, novelists, bloggers and even businesses such as NGOs.
- Market research for people who want to start a business or even already established businesses that want to launch a product or break into a certain market.
- Industry research for novelists, television, and movies.
- Competitor research analysis for start-ups, small businesses, and huge corporations.
Some people will be more than willing to pay you to find out everything about them online. This is particularly true if they are interested in cleaning up their brand image because they either want to run for public office or are quickly becoming a prominent member of society.
It is just a matter of finding what people are willing to pay for, finding where they go online to find those services, and offering them your research skills for a fee.