Running a business can give you the freedom to create your own schedule and make money from anywhere. And, it can be a great way to earn extra cash in your free time.
However, many potential entrepreneurs are put off because:
● They lack the startup capital needed to start a business
● They think they don’t have the time to run a successful business
● They’re not sure what type of business is best for them
Although these concerns are valid, there are plenty of businesses that don’t require vast amounts of time and money. Whether you want to become an entrepreneur part-time or full-time, here are some fantastic, profitable online business ideas for 2021.
E-commerce now makes up 14.1% of all retail sales, and this is predicted to soar in the coming years. Dropshipping is one of the fastest business models for anyone interested in getting into the e-commerce market. Plus, it’s low-risk and requires very little up-front investment.
Dropshipping involves displaying a product in your online store, and then it is delivered by a third-party supplier directly to the buyer.
You can set up a dropshipping business by:
● Setting up a store using Shopify
● Customizing your store and adding a logo (you can build a logo using a tool like logocreator.io)
● Finding suppliers and products from AliExpress
● Adding your products to your store
● Advertising your products and store using Facebook or Instagram
Another excellent way to earn money online is starting a niche website, then monetizing it using Google ads or affiliate marketing. In the long-term, this can create substantial passive income.
Targeting a specific niche makes it much easier to get the traffic you need, as there’s less competition for keywords.
You can start this type of business by:
● Choosing a niche topic you’re interested in
● Researching some topics your target audience would be interested in
● Start a blog using WordPress and customize it
● Add the “Yoast” plugin for SEO purposes
● Sign up to affiliate programs (Amazon runs one, for example)
● Use Google AdSense to earn money from adverts
Trading domain names is another fantastic way to make money in 2021. This business model involves buying cheap, unique domain names then reselling them for a profit.
To maximize your chances of success, it’s important to carry out some research into what types of domains work well. If you get it right, there’s a lot of money to be made!
You can start to flip domains by following these steps:
● Go to a platform like GoDaddy to find domain names and check availability
● Stay up-to-date with current trends to get some ideas
● You can also use Google Trends to check domain popularity
● Regularly check the value of your domains
● When you think you can make a profit, sell them using an online marketplace like Empire Flippers or GoDaddy Auctions.
If you have strong writing skills or expertise in a particular area, writing and selling an eBook can be a very effective business idea. There is lot of demand for new and unique books online, and the process is not as complicated as you might think.
If you’re not sure where to start, Amazon has an easy-to-use self-publishing service that’s ideal for beginners. And, the eBook market is booming, so there’s a good chance of making money!
Some of the most popular genres include business and investments in non-fiction, or sci-fi, mystery, thriller, and romance in fiction. If you want to write in one of these areas or about another topic, you can start an eBook business by:
● Research topics and make a plan and outline
● Write your book, then edit it, or pay an editor
● Format it using a standard eBook format – you can find these easily online
● Sign up to Amazon kindle and publish your book
● Promote your business by joining groups and communities, guest writing on other websites, and promoting your books on social media
The idea of starting a business is an exciting one. If you want to succeed in these types of businesses or any other, make sure you find something you’re passionate about, and that matches your skillset and strengths.
In 2021, it’s very much possible to make passive income online. By working hard and staying motivated, you can make money by starting an online business.
So, are you planning to start one of the above businesses? or have you have already started! We have helped many entrepreneurs, small business owners, startups to thrive successfully on the internet with our Digital Marketing Consulting. Need help? Contact us!