Are you trying to find a way to make some extra money today? Do you need the chance to earn some full-time cash while doing some part-time work that you love? Many entrepreneurs are seeking out online business opportunities right now because of that.
OK, but what is the best online business?
It is one that you are passionate about that also has a level of scarcity to it that will put you and your goods or services into high demand.
There are a lot of people who claim they make millions of dollars every year with their online business.
Can you do this too?
Anything is possible, but there are more people earning $40-$60k than $1 million and that can be life changing money as well.
Here are some of the top online business options to consider for 2015.
#1. Affiliate Work
Becoming an affiliate is a rather simple process.
All you need to do is sign up for a program with a business that has an internet presence.
You could then sell the goods or services offered by that business through email or by creating an independent third-party site.
When you make a sale, then you get a percentage of it as a commission.
It’s easy to start and implement, but you will need to have a business plan in place before you begin.
Not every product is going to sell well. Some of the most popular programs on the internet today have so many affiliates in them already that it’s virtually impossible to get noticed.
Look for a product that you’re passionate about, get into the program, and then start selling.
#2. Start a Blog
Blogging isn’t something that is hard to do and you can blog about virtually anything today.
This means your spare time can become profitable time if you monetize your site. There are several different ways to make a blog profitable, from the selling of advertising space to the creation of subscription services.
If you really want to earn good money, however, you’ll need to have your own product to sell through the blog.
Here’s why: the average blog earning AdSense revenue makes less than $10 per month.
If you’re selling advertising, then you need to have proven traffic numbers and many blogs just don’t have it.
Affiliate links to Amazon are another popular option, but if you’re trying to sell TVs on a blog where you talk about cooking… it just won’t make sense.
Your own products, however, will always make sense. Write consistently about the things you are passionate about, get some help here and there when you’re feeling too tired to create content, and eventually your site will grow into something that can make money online.
#3. Become a Freelancer
The freelance economy is growing and thriving thanks to the creative talents that people have.
The great part about working in a freelance arena is that you get to set your own terms and conditions about each job that you take.
The only boss you have is your customer and you get to control which contracts you decide to complete.
From writing to painting to photography: there’s a demand out there for your skills and talents that could legitimately turn your passion into a full-time online business.
You can do this in one of two different ways.
- Create your own site. You can create your own e-commerce storefront and sell the services that you plan to offer as a freelancer. You’ll need to have some form of payment processing to make this happen, as well as a delivery system in place that will give your customers some sort of guarantee.
- Be represented. There are dozens of freelance websites that will give you the chance to earn some cash as well. These sites act like an agent for your business, promoting your work in return for a commission on your sales. Most commissions are in the 15%-30% range, so you’ll want to plan your profits accordingly.
#4. Start an eCommerce Store
If you have a lot of products to sell and you don’t want someone to take a commission from each sale, then starting your own online storefront can be a good way to get an online business quickly headed toward profitability.
You’ll have some higher expenses at first with this online business opportunity, such as a good domain, a store template, and credit card processing setups, but then you’ll be able to go live and start selling.
As with any other storefront, people won’t buy anything if they don’t know you exist or don’t feel like they have a need for your product.
You’ll need to market yourself in some way to reach your targeted audience. Segment your customer base, send out specific media marketing messages that will encourage people to visit, and start getting your name known.
What is an online business? Sometimes it is a place where you must spend money in order to make money.
If you have some extra money lying around and you want to invest it into yourself, then running your own online store is one of the most lucrative opportunities that exists today.
It isn’t always easy to make a profit on eBay because the site is more buyer focused than seller focused.
With that being said, however, there are thousands of sellers who earn more than $1,000 every month on this auction website.
Through Buy It Now listings and strategic options, these entrepreneurs are able to stay within their niche to provide the best products possible and this attracts customers like a magnet.
Some stores have over 100,000 listings on eBay right now.
You probably don’t want to take that much time to begin listing items, but if you do have some unique products to sell, 50 listings or less can be created over the course of an afternoon.
Take advantage of the chance to write an expert guide in your niche to enhance the amount of traffic that you receive.
#6. Become a Mentor
This is one of the most exciting ways to earn money online right now. All you need to have is a broadband internet connection and a computer or mobile device that can send out video. You’ll be able to talk 1-on-1 with people from around the world in your specialized subject.
There is virtually no limit to what you can do right now as an online mentor. Here are just a few of the high demand options that you might be able to fill.
- Teaching a language in which you are fluent, including English.
- Offering specific training opportunities in your career field.
- Becoming a life coach.
- Being a digital Big Brother or Big Sister for children in need.
The best structure for this online business opportunity is what is called “freemium” today.
You see it with a number of game apps that are downloaded from Google Play or the Apple App Store.
You’d be giving away some of your product for free, but then charge people for the specific services that they may need.
In this way, everyone wins. There is free value to be had and people will want more of your specific services if they benefit from the free services.
Your free services also become an easy marketing point to drive home.
#7. Buy and Sell
Domain names are bought and sold every day at premium prices. The idea of this online business is pretty simple: buy a domain name at a discount price and then sell it for a higher one.
To be able to create higher prices, however, you’ve got to “flip” a domain like people flip houses today.
You need to encourage traffic, age the domain, and make it more appealing. If it looks attractive, then it’s going to sell for more.
#8. Outsource Work
The goal of an online business is to do the least amount of work possible for the most money.
Many times you can get work from a customer and then outsource that work to someone else at a lower price.
As long as the quality of the work remains satisfactory, you’ll be able to earn money by brokering the deal between your buyer and your outsourcer.
Profits are generally smaller in this business model, at least at first, but the work levels are also at their lowest.
You literally get the contract from your customer, send the work to be outsourced, and collect the difference as pure profit.
There are many ways that you can earn money online right now. The most important thing isn’t the type of business that you have, but that you’re willing to spend time within the business to begin building relationships.
When you can do that on a consistent basis and deliver a high quality product, then you’ll be on the path toward success.
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