What is an Online Business?
An online business is one conducted entirely online,- the products/services are viewed, sold, marketed and distributed entirely online. The marketers and sellers may never have to actually hold physical products in their hands. Consumer may hold end products in their hands. Some many advantages of having and online business include being able to work from remote locations and being able to determine your own working hours. In addition to the flexibility, you instantly have access to the billions of people around the world with Internet access. Below is a list of possible business you can start.
How is this different from a traditional business?
A traditional business is one that typically has a physical presence somewhere else and has expanded its reach to include the online sphere. This means that a coffee shop or a clothing store can have a physical space but also have contact details, customer engagement and marketing campaigns happening online to support their physical store. Their online presence comes to complement work that is already happening elsewhere.
However, an online business is one taking place completely online. Despite carrying out the same functions, it will carry out its functions online. Customers can ‘visit’ an online store in the same way they visit a normal store, by going to a stores’ website address or social media page and find everything they need to make an inquiry or sale.
Examples of Online Businesses
Depending on your skill and interests you could try starting any of the following businesses in 2020.
If you understand the world of Search Engine Optimization, how to create engaging content and the analytics that go with this content then this could be lucrative business for you. You can start a business teaching other business owners how to ensure their content online creates good engagement. You need to understand google adverts, google analytics, social media adds with emphasis on running them in cost effective ways.
Social Media Consultant
Social media platforms like YouTube, Facebook, Instagram, LinkedIn, Twitter and Pinterest have huge business potential because of what they can achieve for any business. Although these are not the only social media channels one can use online they are some of the biggest for product promotion. But most people don’t fully understand how to use them to their advantage subsequently wasting hours on social media. A social media consultant assists business with their social media campaigns and communication mechanisms using social sites online.
A virtual assistant is someone who provides support to entrepreneurs and their organizations from a remote location. They can manage social media accounts, calendars, emails and back end website requirements. Not only are they crucial for start-ups that are working online and need help with mundane tasks, they are crucial for people who need a job but want the flexibility to work from home. If you would like to become a virtual assistant or you need one for you business consider www.247virtualassistants.com. The company has a collection of virtual assistants that you can find in different countries.
Niche Market E commerce Retailer
You can make huge sums of money selling your own products online using applications like Shopify, Amazon, Etsy and EBay. These platforms allow you to basically sell any type of product from any location in the world. Your product can be clothing, books, jewellery, clothes and accessories, bedding, computers and consumables, the list is endless. In addition, you can pay someone else to hold your product for you if you have limited space for use at the start.
Online (Affiliate) Marketing
Affiliate marketing was worth 12 billion dollar as an industry at the close of 2019 and was responsible for more than 170 million transactions worldwide in that year. Just like a traditional business has a sales department, affiliate marketing is the sale department not just for one company but you can do it for multiple companies at a time-all online. You promote other peoples’ products and receive a commission for each sale or refferal. Affiliate marketing is best done when you have an online platform that is accessible such as a website, or social media accounts. These platforms are useful for creating healthy content that will drive sales and generate interest in the product and sales. If you are interested in learning how to become an affiliate marketer try Wealthy Affiliate. Its free to join and has the best repository of step-by-step training that I have seen to date.
Blogging is closely tied in with affiliate marketing as most bloggers earn money generated from affiliate links. However, you can also earn money blogging using digital adverts, selling digital products like e books, downloads, online courses, selling membership and promoting your personal brand for gigs elsewhere. You can sign up here if you would like to learn how to blog profitably and receive training on pasting affiliate links and generating commissions.
Web Designer or Web Developer
Website development is a huge industry responsible for keeping the monumental beast called the ‘Internet” alive. Some entrepreneurs use the knowledge they have to create websites and flip them for thousands of dollars per site depending on the engagement already present and the number of articles the website has already. Or you could just build the site and hand it over
Developing applications that can be sold to organizations across the business landscape can be enormously lucrative. Apps are hugely important because of the efficiency they bring to online communications. They make communications with targeted audiences faster and more effective. Well developed applications allow companies to engage with clientele across the online space using functionalities and features that are compatible with different social media or search engines. App developers make this communication possible. You need to think outside the box and harness your creativity to thrive as an app developer. In addition, you need and patience as it takes hundreds of hours to develop an application properly.
Consultant or Tech Support
You can consult for just about anything. For example if you are well-informed as an accountant, a lawyer, a teacher, a therapist, what ever it is, you can leverage your knowledge in the online space to generate income for yourself as a business online. If your knowledge is tech related you can leverage it to service small businesses owners who need assistance with websites and applications.
How can you get started?
You can get started as a blogger or affiliate marketer by following this link and receive step by step training.However, for some of the other occupations like consulting, app development and web design you need some training in those specific areas to run an online business well.
Get started with Blogging
Get started with Affiliate Marketing