If you have the skills to run your own business and are reasonably tech savvy, you might want to consider some of the suggestions below. However, the fact that you can code or write does not suggest you will succeed unless you can also market yourself. Starting a business is not for the faint of heart and you should carefully consider your talents before embarking on any new venture. That said, below are some suggestions for online businesses.
10. Flipping Websites
Flipping a website is essentially the same thing as property flipping. You find low-cost sites that have high-potential and improve their value.
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- This type of business is highly profitable.
- There is a low competition level.
- Can be done at home.
- High capital investment.
- Risky venture.
The personal investment and risky nature of this business make it a bit intimidating. However, the potential for profits are good if you can turn the site around.
9. Travel Writer
Travel blogs have become very popular because they capture the imagination of many people. If you have the time and money to venture off, you might make money while traveling the world.
- There will be plenty of opportunities to see the world.
- Nowadays, there is a high interest in this service.
- You don’t need any training or certificates.
- Expensive to travel.
- No guarantee of finding buyers for your articles.
As a traveler who also reads travel writers, I can attest that yet another article on the charms of Venice is not likely to find a buyer. If you travel to unusual locations, engage in adventure travel or otherwise go where the tour companies do not, you might find an interested publication. In any event, I’d strongly advise that you find a buyer for your stories before booking your flight to Beijing or Bangkok.
8. 3D Printing Business
3D printing has long been considered one of the top ten online businesses because the technology is not widely available to most Americans. There is substantial upfront investment in a good 3D printer and supplies and the technology will undoubtedly move forward rapidly, requiring you to keep up. However, this online business can rewarding.
- There increasing interest in 3D printing for an increasing number of applications.
- There is a low competition level.
- Expensive buy in for machinery and supplies.
- Niche market.
While it hasn’t fully taken off yet, 3D printing has a high potential for broad application in many industries.
7. Proofreader Specialist
Good proofreaders are a special breed and most smaller companies don’t employ one.Companies need proofreaders to check all of their content to ensure it is accurate, correct and readable. Proofreaders are also essential for anyone writing fro publication.
- It will cost you very little to start.
- It can be a profitable business for the person with the right skills.
- You can launch the business from home without quitting your day job.
- Can be time-consuming.
- Small mistakes impact your reputation.
While still something of a niche market, proofreading continues to grow in popularity and is a great business for the right person.
6. Tax Preparation Expert
Everybody has to do their taxes every year, but few want to do it themselves. Tax preparation can be a profitable business model for a person with the proper set of skills and experience.
- There is a high demand for this type of service.
- It is an online business with a high profit-to-work ratio.
- This online business is fairly easy to learn.
- Limited time frame and tight deadlines.
- Mistakes may cost you money and the business.
Creating a side-job as a tax preparation expert is a great idea for someone who is ready to work very hard for several months.
5. Web Designer
Every company needs a website. If you can code and have design skills, this might be an opportunity to explore.
- You can do it from home.
- It is a business that is always in high demand.
- Leads to plenty of freelancing opportunities for companies who do not wish to have in-house web teams.
- Very competitive field.
- Requires specialized training.
Web design is a great choice for those who have coding experience, real design capabilities and understand the complexities of creating a brand image for someone else.
4. Interior Designer/Interior Design Firm
Interior design has historically been limited to those with money to spend on having someone else advise them on window dressings or the red sofa/blue sofa question. Now the internet has created design firms for a broader audience by allowing individuals and businesses to access design input from professionals for a substantially decreased price.
- More people are cognizant of the advantages of design input and will consider having a professional consult.
- Designers may offer access to goods and services not available to the general public.
- Allows great personal creativity.
- Niche service.
- No guaranteed profit.
For those with the skills and drive, this may offer an entre into the design world without the large upfront expense of office space and employees.
3. SEO Consultant
- It requires a low personal investment.
- There is no need for complex or costly special training programs.
- It is in high demand due to the increased popularity of digital marketing.
- Competitive marketplace.
- Hard to master.
While it will take some time to master SEO concepts, it can help you become one of the top ten online businesses in your field.
2. Content Creation
Skilled writers who aren’t ready to do full SEO can often make thousands of dollars a month writing just a few hours a day.
- Almost no capital investment required.
- Millions of businesses need content.
- Simple business model.
- Highly competitive market.
- Low-cost content sites dilute the field.
Fighting against low-cost content farm sites can be hard for some to do. However, great writers can become one of the top ten online businesses in this field.
1. Lead Generation
These days, lead generation has become one of the most sought-after services. As a result, it leads the top ten online businesses available today.
- High demand for this type of service.
- Low capital needs.
- Runs almost automatically when done properly.
- Requires lengthy setup process.
- Takes time to fully implement.
Due to its low-cost of startup investment and the need for these kinds of services, this business model has quickly become the leader of most top ten online businesses lists.
Putting It All Together
If you have the skills, business ability and drive to succeed at one of these businesses, do a great deal of research before you invest any money. Create a business plan including a marketing plan detailing how you will access customers.