Starting an online business is important as almost everyone is online these days. If you are looking for a successful online business to start, you are in the right place. In this article, we will list the best online businesses you can start and make money.
Why you should start an online business
The internet has become like a home to everyone. From Facebook to Twitter, to, Google, to news websites, and more, billions of people are active on the internet.
Basically, businesses succeed in an environment where there are many potential customers/clients. That is the main reason you should start an online business because there are about 3.2 billion people on the internet. That is about 51% of the world’s population.
Where else in the world can you find a such number of people? Only the internet can help you reach 3.2 billion people.
This means, with up to 3.2 billion people on the internet, there is a market for you, no matter what online business you do.
Also, the internet gives you the ease to market your business, organise your business, and conduct transactions with ease.
With online business, you don’t need a big office, it cuts you lots of expenses. Mostly, the key things you need is your internet connection and computer.
Online business also gives you the ability to reach customers all across the world. You can be in Nigeria and your customers are in America. From India, you can reach Customers in Austria. You can be in the USA and transact with customers in China, that is the power of online business. There is no boundary or limitation.
It costs you less, it gives you access to so many customers, in summary: it puts the world in your hand.
When running an online business, branding is very important. Make use of a logo maker to get a good logo to brand your online business.
Let’s look at the best online business ideas to start and make money
Here are the best online businesses to start
These are the best online business to start:
1. Freelancing
For me, freelancing is the number one online business for anyone who has any skill and is looking to make money online. Freelancing is all about working on a project for individuals or companies, that you do not have a long-term commitment to.
For example, if you are good with graphics, writing, editing, photos, speaking, teaching, marketing, coding, and more. You can find companies or individuals online, who are looking for these skills for a project. You work on the project for them and get paid.
There are platforms that connect freelancers with companies or individuals that need them.
Freelancing is a big industry the world over. In the US, Freelancers make up 35% of its workforce and contribute over $1 trillion to the US economy according to Forbes.
So if you have any skill and you want to start an online business, this is it. Get a computer, and a stable internet connection and invest your time in finding clients, building your reputation, and grow.
Platforms that connect Freelancers with companies or individuals that need them include Upwork, Toptal, Guru, Freelancer, 99designs, PeopelPerHour, SimplyHired, Fiverr.com, and more.
You can make a lot of money with this online business. For example, Freelancers make over $1 billion every year on Upwork alone!
Working as a freelancer is smart. You can also rent an office space, get many people with different skills, then bid for freelancing jobs and give these people to do. You pay them a percentage or a salary. So many people run online freelancing companies this way.
Try and read this:Â How to make money as a freelancer online
If you are looking at how to start an online business from home, then this is for you. Also, If you are looking at how to start an online business with no money or capital, this one is for you. All you need is your skill and the internet.
2. Affiliate Marketing
Affiliate marketing is all about finding products and services to promote online. Usually, you are given a link. Once someone buys through you or books a service through you, you get a commission. It is as simple and as easy as that. You make money quickly and fast.
The affiliate marketing industry is worth over US$6 billion. And it continues to grow.
So how can you start this online business and make money? First, you need to pick a good niche. Niche is all about an area of interest. It could be finance, insurance, technology, games, sports, and more. Pick a niche that is profitable and that you are good at.
Build audiences around that niche and become an authority. You can do this via a blog, Facebook, Twitter or Instagram page. Any of the social media networks. You can also build an email list.
On these platforms, talk about your niche and recommend products that you are an affiliate of. If your audience trusts your judgment, they will buy and you make money.
So imagine you market a product worth $300 and your commission for each sale is 20%. Then you get up to 1000 people who bought through you. That means you have made $60, 000 on that product alone. Now imagine if you can make that sale in a month, that is $60k in a month.
Yes, it is not easy to get to this level but as you get to understand affiliate marketing more and become skilled and better, you can surpass this level.
There are affiliate networks that help you find products and services in any niche. You should register with them and find the right product for you. They include: Commision Junction, Linkshare, Amazon Affiliate, ShareASale, ebay Partner Newtork, ClickBank and many more. You can search for affiliate marketing in your specific country but these one listed here accept affiliate marketers almost from all countries. In Nigeria, there are Jumia Affiliate, Konga Affiliates, and others.
You can also contact companies directly and ask to be an affiliate marketer with them
Try and read this: How to make money through affiliate marketing
If you are looking at how to start an online business for free, then this is for you. You can start with your Social media audience. This is among the best business opportunities as far as online business is concerned and anyone can do it from anywhere.
3. Selling your own product online
Selling your own product online is one of the best online businesses out there. All you have to do is create your online shop and start selling your products online.
Even if you do not have products to sell, you can sell online. You do not need to have the product physically and you do not even need to have the money to buy products and resell them. All you need is to create an online shop with a platform like Shopify.
Once you create an online shop with Shopify, you will have the opportunity to copy inventories from big manufactures and suppliers around the world into your online store without paying for the products.
Then you can promote these products on your social media, through ads and any other methods. Once someone goes to your shop to buy, the manufacturer or supplier will ship the product to the person, bill the person and you get your commission.
As easy as that! Operating an online store is quite cheaper and easier than a physical store. But you need to give it the time to learn and invest more time to build a brand that will attract lots of customers.
There are thousands of products you can choose to display in your online shop. But It is good to have a niche. You can focus on clothing, gadgets, books, or any for a start.
If you want to learn to create an online shop easily with step by step guide, then go here:Â How to create online shop very easily with Shopify
The global eCommerce industry is worth $22 trillion. So once you open your online shop, you will be in an industry that is worth that much.
If you are looking for an online business that pays, then is it. It may be time-consuming and requires some investment but in the long run, you build a brand that can make you a super millionaire, even a billionaire if you are lucky.
4. Blogging
Blogging is probably the most popular way to make money online. Definitely among the most famous internet businesses. You can become a blogger and earn good money online.
It is very easy to be a blogger if you have something that you are passionate about. Blogging is all about sharing information. So what information do you have to share? Movies? sports? news? insurance? Finance? Fitness? or whatever, create a blog about it. Write about it and you will make money from it.
As a matter of fact, blogging is the basic and foundation of nearly all internet business. For the other online business ideas listed on this page, you may also need a blog to help you reach more audience and build a resource page.
Blogging on its own is lucrative. Premium bloggers make millions of dollars every month.
To make money from blogging, you have to be unique, create your own style and have your own voice. Build your audience. Pick a good niche. Write contents and be consistent.
Learn SEO and all that will help you become successful.
There are many ways you can make money from Blogging. You can make it with Google Adsense, Affiliate Marketing, Sponsored posts, product sales, direct ads, and many more. There is no limit.
Creating a blog is very easy. If you feel motivated to get started, we have a step-by-step guide:Â How to create a blog in less than 20 minutes
If you are looking at online business ideas for beginners, Blogging is a good start. Since it is about sharing information and making money. It is also a very good online business for students, professionals, and everyone. There is no limit or boundary!
5. YouTube Videos
You can make a good income by creating videos on YouTube. The key is to pick a topic that you are passionate about. Make good videos about them. Open a YouTube account and post the videos. Share the videos across social media and promote them the best you can.
As people watch, you can make money from it using Google Adsense, Affiliate marketing, sponsorship, selling your product, and many more.
The good thing is, videos never die, people are always checking up on videos, and even your old videos will keep generating revenues.
But you have to make videos that impact the audience. Have a good message. Create timeless videos that people want to watch over and over again.
This is a very lucrative online business. People make $16.5m and more a year from YouTube Videos. You can see a list of top YouTube earners here.
If you will love to get started, read our guide: How to make money on YouTube
If you are looking for internet business opportunities that will make you money, consider this
6. Social media marketing
There are over 2.7 billion active users on social media. That makes it a big avenue for businesses to reach new customers and make more sales. That creates room for social media marketing.
Social media marketers are experts who help businesses reach more customers and drive more sales from social media.
You can earn good money as a social media marketer. Companies are always happy to engage the service of someone who can help them improve their sales.
For more, read:Â How to become a social media marketer
7. Course Website
You can teach people skills online and make money from it. All you need to do is create a course website. That will help you present your courses and bill students.
Selling and teaching courses online is a very big industry worth billions of dollars.
People are always looking to learn new skills and more. You can teach via your course website and charge a fee for each course.
If you will prefer to use an existing course website to teach online and make money, you can use platforms like: Teachebale.com Udemy.com or Skillshare.com
Read: How to make money creating and selling online course
Conclusion
Starting an online business is a very good step because people spend more time on the internet these days. That makes the online business very lucrative.
If you are looking at other ideas to make money online, check out our page: Make Money Online
