Top 15 Best Online Businesses To Start In 2023: The world is fast evolving, and so is the labour market. These days, one’s certification doesn’t matter as much as what one can do or one’s skillset. The internet is full of opportunities to utilise one’s skillset to make money. In addition, online entrepreneurs have the freedom to take their business anywhere they go and to work at anytime they please.
The important thing is to keep to agreements made with clients and deliver when due. Running an online business can be used as a passive source of income, or even a main source of income. The whole world is hopping on the online train, and you should too. If you’re looking for inspiration to start an online business, this is the post for you.
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Reasons Why You Should Start an Online Business
There are so many reasons why you should think of starting an online business, but we’ll only highlight a few. First, owning an online business give you more autonomy and business flexibility than owning a physical one. This emans that you can control how you work and here you work, and even your income flow. You decide the prices to sell your services or product, and you can easily locate your target market without making too much of an effort.
Secondly, the world is moving into an age of automation, where nearly every transaction or job will be done online. Thousands of jobs are bound to fade into nothingness in the years to come, and as intelligent entrepreneurs, we also need to move our services to the internet space to avoid being left behind.
Essentials for launching a profitable online business
- Depending on your expertise and interest, pick a business venture or sector that you have a knack for.
- Identify a market niche based on the available market therein.
- To evaluate your competitors and the viability of your product, conduct market research and a competitive analysis.
- Learn about the regulations that deal with online commerce.
- Do a proper research before settling on a certain piece of software to create your online store.
- Develop a comprehensive marketing strategy that includes local marketing, social media marketing, SEO, email marketing, and website marketing.
Top 14 Best Online Businesses To Start In 2023
There are so many online business ideas that one can take up at any time. Many of them actually require zero cost! In this post we bring you ten of the best from this sea of ideas and the basic mechanics of how it works.
1. Online Tutoring and Digital courses: There are many platforms online that provide tutoring services to a wide audience spanning eager learners from around the world. These platforms also offer opportunities to people who consider themselves experts in any field/area and tutors to pass their knowledge to those who need it, and for a fee of course. Some of these platforms with a large working audience include Udemy, Coursera, Skillshare, etc.
When people take digital courses, it could be professional courses, or otherwise courses to learn a skill or particular skillset, to gain new information, or even to undergo training of some sort.
There are many courses offered online – how to play a piano, how to develop characters for a fictional book, how to pry an Xbox open, programmin 101, the basics of Engineering Mathematics, etc. Whatever you want to learn, you’d likely find several detailed courses of it on the internet. If you have any skillset, knowledge and expertise in any field which you feel you can impact on others, then you can develop a digital course and become an online tutor. There are so many people already involved in this business, and people pay to view their courses.
2. Graphic Design: If you’re involved in designing and aesthetics, and have an eye for good graphics, then making a career from graphic designing might be for you. There’s a whole lot of opportunities for graphic designers.
From designing fo company logos and flyers, business cards, catalogues, ads, etc. Many companies require these services and graphic designers can hop on this train.
3. Web Design and Development: If you have programming skills, then the internet has a world of opportunities for you. There are many platforms that host freelancers who sell their services, including web design, web and app development services, to clients who need them. There are also platforms where one can build their presence as a programming expert, gain recognition, and thereafter, attract potential customers to themselves.
4. Content Writing/Management and SEO: The world has come to the realization that words hold a power that can make incredible changes and a huge impact. Words convince, stir debate, influence, market, advertise ad pass information.
Successful businesses know all too well the power of words, this is why many of them employ copywriters to manage their company blogs, draft their cold emails, newsletters, sales pages, about pages, etc. An equally lucrative part of freelance writing is SEO or Search Engine Optimization. This involves strategic keyword input/placement in a content piece to make it rank higher on search engines. There is a steady demand in the online market for people with these skills.
5. SAAS: SAAS or Software As A Service is almost like programming in the online space, but it is more service-oriented. If you’re is a software expert of any sort, you can identify a target market, find a problem that they have that needs to be solved – often a tech-based problem – then solve it by creating a software that’s designed to specifically tackle that problem. Once you put this product out before your target market, there are high chances of sales and possibly gaining your own set of clientele.
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6. Drop Shipping: Drop shipping is one of the most popular ways to make money online without investing a dime in the business. Usually, those involved in drop shipping research about a particular product which they can pitch to their target market. Then they find sites where they can buy these products at a cheap price for their potential customers.
Then customers make a pre-order; this is where they pay for the goods to receive later. The buyer then collects this monies, takes off his profit, then orders the goods.
7. Virtual Assistant: If you are able to carry out tasks effectively, and have amazing organisational skills, then you might want to consider being a virtual assistant.
It basically involves being an administrative assistant to a person, not remotely this time, but virtually. You’d carry out tasks such as compiling and sending emails, making phone calls, data entry, etc. Platforms such as Upwork and Virtual offer numerous opportunities for virtual assistants to find work.
8. Affiliate Marketing: It seems like this type of marketing is highly profitable to companies and individuals looking to sell their products to a larger audience. Affliate marketing works in three ways; the unattached way which is the popular pay-per-click marketing or promotion that bloggers do for products that they not really involved with. There’s the related way where marketers who have some content on the product they’re marketing but don’t use it personally. Finally, the attached or involved way is when marketers promote products they actually use and are satisfied with.
Affliate marketing is what social media influencers with a huge following or fanbase do when they promote protect on their pages. Brand managers are constantly seeking these influencers out to negotiate a deal where they promote their brands for a fee.
9. Social Media Management: The advent of social media has drastically significantly changed the way we communicate. This new way of communication comes with immense benefits and exposure, almost like you could reach across to any part of the world, as long as you have a device that can access the internet.
Since many people are on social media, it is a rich market for many companies looking to sell, and therefore, an outstanding online presence is required. This is where the services of a social media manager comes in. If you know how to engage an online audience, control content and increase page followership, then social media management is definitely worth the try.
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10. Blogging and Vlogging: Individuals who have the knack for creating quality content, both in written and video format can take advantage of the internet space to earn money. People make millions of enquires everyday on the internet, and these questions need answers. Video content and blog content often provide these answers, and if their content appeals to the public, they may have a massive followership or readership. At this point, one can run ads or get involved in affliate marketing to earn some money.
Platforms like Youtube and Google AdSense pay successful vloggers and bloggers to advertise on their page or channel, and the returns for this venture are often massive.
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11. Small business consultant: If you have a lot of business expertise and knowledge, why not launch a business that helps prospective entrepreneurs succeed? You may use your abilities as a business consultant to help seasoned business owners meet demand and assist new business owners in getting off to a strong start.
Your chances of success will be increased if you focus your strategy on a certain area of business consulting that is highly specialized. Participating in the internet business community can help you build your reputation, demonstrate your expertise, and draw in customers
12. Supplier of handmade goods: Online markets for handmade goods, such as Etsy and ArtFire, make it incredibly simple for artisans who can produce a consistent supply of high-quality handcrafted goods, like crocheted blankets or one-of-a-kind painted glassware, as retailers shift their sales to e-commerce.
Selling your goods on an e-commerce website if you have a distinctive trade is an excellent way to make money while staying at home and doing what you enjoy. The start-up costs for this company idea are low if you purchase your creative supplies in bulk from a crafting supplier. If you can quickly create and sell your artwork on an online store, you’ll fast make money. Local artisans have greater success when they use social media to promote their businesses.
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13. App creator: People are willing to spend a lot of money on mobile applications that allow them to control their life from their cellphones, making mobile apps more popular than ever. You can go for it and develop an app if you have a brilliant new idea for one and know how to code.
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14. Start an online corporate counsel firm: For their interests to be protected in legal proceedings and to be informed of their rights and obligations, businesses, and individuals need legal assistance. You may give employees of major organizations a way to handle their legal issues without having to pay traditional lawyers’ exorbitant fees or commit to as many time-consuming in-person meetings by using an online corporate counsel consulting services.
You must present proof that you passed the bar examination in order to draw clients. Don’t be shy about stating that your business only conducts business online. In the event that your client must appear in court, they must hire local legal representation that can physically represent them before a judge or jury.
If start-up capital has been your hold-up to starting a business and making money, then by now, it is obvious that it should be. These online businesses do not require much from you, and online jobs are already one of the most profitable ventures the world has ever down. Simply put your devices to good use, learn a skill or find something you’re passionate about, and make a business out of it.
Edeh Samuel Chukwuemeka ACMC, is a Law Student and a Certified Mediator/Conciliator in Nigeria. He is also a Developer with knowledge in HTML, CSS, JS, PHP and React Native. Samuel is bent on changing the legal profession by building Web and Mobile Apps that will make legal research a lot easier.