Broke, hate your job, need more income? The internet is here to help. Since it came into being people have been using it to make money and there are many millionaires who made (and continue to make) their fortunes online. There are plenty of different online businesses that you can try, but there are some that pay better than others. To help you out we have selected 10 of the best.
- Affiliate marketing
Affiliate marketing is one of the oldest online businesses, and it has been a raving success. Basically, you sell a product on behalf of someone else and earn a commission for it. The great thing about this model is that you don’t need to come up with a product of your own. In fact, everything that you need to get your business started, including a website and training, are provided to you by the party that you are selling for. All you have to do is develop a strong social network and do effective marketing. The more sales you make, the more money you earn.
Blogging as a business has been around for more than 15 years and those who do it well earn a lot of money – John Lee Dumas and Patt Flynn, some of the top bloggers, make around $180,000 a month. Blogging is all about content. If you become an authority blogger in your niche you have multiple income streams that you can exploit: advertising, affiliate marketing, selling leads and you can even sell the blog itself.
- Niche ecommerce sites
Niche ecommerce sites are becoming more and more popular. The idea is to select a niche and then focus on marketing it to the right demographic. Do not choose one where you have big competitors. Instead, choose a niche with little competition. You can, for example, focus on a certain type of garment such as a kimono. If you market yourself to the right demographic you will over time become the go-to site for kimonos, and you will make a lot of money.
- Selling on big ecommerce sites
Sites like Amazon and eBay are growing every year. They are marketplaces where anyone can become a seller. You too can become one and if you sell top quality products and provide great customer service you will soon have a following. In fact, if you join Amazon’s FBA program they will do all the work for you helping you maximize your profits.
- Web based services
This is a niche that some may argue is saturated, but if you start a new business and angle it the right way it will grow and make you money. You will be providing services such as SEO, web design, content development, online marketing and so on. There are tons of new businesses that are created online every day and if you can sell your services to them you can make some good money. Make sure you deliver every time if you want to stay in business – it is a competitive niche and one bad job can cost you everything.
- Online tour guide
If you live in a small town that has the potential for tourism you can make money by selling tourist packages. All you need to do is design a website on which you will showcase good content about the tourist spot. Sell it through social media and soon you will have people booking trips through you. The potential to make money lies in collaboration with big tour companies and hotels.
- Language translation
People are looking for translation services all the time so if you can learn an additional language or two you can make money.
- YouTube channels
These are quickly becoming a big money maker. The idea is to start a channel and attract followers; if you become big enough your channel will attract a lot of advertising from which you will make money.
- Use Facebook
Facebook has more than a billion users which means that if you start a business there you have the potential to make lots of money. Find a niche and then start by marketing to your own inner circle, who in turn will tell their friends and so on.
- Help others start an online business
Yes, you can get people to pay you, and in return you help them start up their own online businesses.