In doing research as to what is the best online business to start? I came across several options of online business ideas to start with, but the struggle is that, not all of them are that easy to start, specifically if you are just starting out in this kind of business.
While doing my own research to determine what is the best online to start? I came out with the following eight different kinds of options as the most popular at this time;
Top 8 Popular Online Businesses to Start
- Affiliate Marketing
- Online Courses
- Online Coaching
- Selling Physical and Digital Products Online
- Drop Shipping
- Web Design
- Social Media Consulting
To help you figure out, as to what is the best online business to start? From among those which come out in my research, let me give you an overview to each of them.
1. Affiliate Marketing
Affiliate marketing in simply promoting other people’s stuff and get commission for every sale. The process is to select a niche and find affiliate programs for the products in your niche, such as; Clickbank, Amazon, Ebay Partner Network, JVZoo, ShareAShale, CJ Affiliate, Flex Offer and Max Bounty. You can promote products within your niche through your own website, blog, you tube, email marketing and social media. You will be provided by the affiliate company an affiliate link for the product you are promoting. When someone made a purchase you will earn a certain percentage as your commission. The good part of this business is that you don’t need to worry about the inventory and delivery of products.
Basically, in this type of online business model, you earn through advertisement though banner ads that will be set up at the sidebars of your website. This can be done as well if you have you tube channel. You only need a code from Google through their Adsense program and put it in your website, when someone clicks you will be paid. The downside of this online business model is that you will only earn few cent per click at your ads, that being said you need huge amount of visitors to your website or volume of subscribers to your you tube channel.
3. Online Courses
With the advent of internet era, online courses become a lucrative business. Online courses is a form of distance learning delivered online , this means online teacher can teach a course through online platform and attendees can attend the course using laptop, computer or even smartphone and internet connection. The great thing about online courses is that you don’t have to be physically present in a specific place, or you don’t have to be online at a specific time taking the course. You can choose your most convenient time to take it.
For you to take the course you should have your email account and internet access as the course may contains reading materials, discussion and assignments which are delivered through email. Online courses are considered low-risk and high reward. Course creator can create the product once, which can be delivered to huge attendees all over the world and generate revenue continuously.
4. Online Coaching
Online coaching is a way to learn skills from expert of a particular field through online platform virtually, instead of meeting personally. If you have talent or skill of a certain field, it is the fast way to start your online business by charging premium prices for your work. However, it has its limitation as you can only reach limited number of customers. The core foundation of this business is that you should be a solution provider, meaning you should provide solution to your customer worthy for the amount that they will pay.
The hardest challenge of starting this kind of business is that most people are more likely to take coaching from coaches they already know and trust. To earn trust you have to establish first a good relationship with your prospective customers and establish yourself as an authority of your field, who can teach online to customers get out of their own way and provide support along the way.
5. Selling Physical and Digital Products Online
In the advent of digital age, it becomes easier for you to start online business by selling physical or digital products online. Selling online allows you for a wider reach of potential customers.
There are no shortages of market places to sell your physical products online; such as Amazon, Ebay, Etsy, Social Media networks and other E-commerce stores. The only challenge is choosing which suits your products. When it comes to selling digital products, the most popular marketplace is Clickbank.
6. Drop Shipping
In drop shipping you can sell products from manufacturer directly to your customer without going through the usual distribution channels. You don’t keep the product you sell in stock. Instead, when you sell your product, you purchase them from manufacturer online and ship them directly to your customer. You don’t need to have the inventory, you only need to purchase inventory when needed.
As you can probably notice, there is no risk on your part as drop shipper, as you don’t need to purchase the product until the sale is made by your customer. While it has no risk, the downside is finding a reputable manufacturer you can rely on to deliver to your customer as when the order is delivered late or did not arrive you are the one to suffer the blame.
7. Web Design
In web design online business, you need to have skills in creating website for other people. You need to meet prospective clients and assess their needs; such as writing, editing content and designing webpage layout.
Your primary role as web designer is coming up with premium design for a website, coding and modifying it according to your clients specifications.
8. Social Media Consulting
In social media consulting, you will serve as eyes, ears and voice online of your client’s company to raise their brand awareness and deliver traffic to their website.
Your primary role as social media consultant is to serve as marketing agent or public relation to highlight positive aspect of the business of your client. You help your clients manage their online presence through blogs, forums and other social networking sites.
In my final analysis, from among the eight top options online businesses to start with; Affiliate Marketing, emerges as the best one to start, for simple reason that it did not require a lot of capital and does not need a lot technical skills.
To help you start outright in this kind of business, please find it here in this in depth review of program that will help you eliminate the learning curve in Affiliate Marketing business.