Tired of your 9-5 job or working under someone who never appreciates your efforts? You have a few start-up ideas and want to monetize them, congratulations on that! But are you confused about where to start from or which business idea could bring in good fortune? Or do you have special marketing skills or other talents but don’t know how to make proper plans?
Online business today has taken center stage, especially in this COVID-19 crisis when we are having to stay back at home. For consumers, browsing products on mobile devices, mostly through shopping apps, placing an order instantly, and getting them delivered at the doorstep is more convenient than going to the shop.
This answers why around 1.79 billion customers shopped online in 2019, as per the Fundera stats. Moreover, the total global eCommerce sales should reach $4.8 trillion by 2021, and this is the reason businesses are switching to the online marketing mode.
Best Online Business Ideas In 2020
Before getting started and leaving everything else, determine and understand the business type and model you are comfortable with. You must also devise practical strategies to implement your plans successfully. To help you make the right decisions, we have listed some super-cool Online Business Ideas for you that’s quite trending in 2020 and are showing promising results. Check them out below:
1. Dropshipping is Cool!
Dropshipping is an excellent way to start an online business that’s profitable and scalable. Moreover, you don’t need a physical inventory or warehouse to start a business and sell products. The best part is dropshipping allows you to get started within a lower budget and you can easily estimate that. You can source your products from a supplier or dealer and ship them by taking care of packaging and delivery dates.
2. Launch Your Clothing Line
Do you think you have good fashion designing skills? Do you have a unique design in mind? Try converting your talents by setting up your Shopify store. Alternatively, you can also launch your own clothing line through various product sourcing apps, like Oberlo, Printful, Printify, and others.
It’s very satisfying to create products that people use every day. Moreover, we all love to try out new fashion trends and styles. So, you will never fall short of customers!
3. Sell Your Art Online
Do you have some unique works of art to show to the world and monetize them? Do you love creating handmade goods for your home or friends? Why not turn your passion into a business and make good money?
You can make photo frames, wall arts, jewelry, customized gift items, or even paintings, at your own free will and at your convenient time. Create a portal at very affordable costs and sell your products there. There is a huge craze for handicrafts and you will surely grow and prosper.
4. Teach the World!
If you are a subject expert, don’t wait up, teach online! There is a host of portals where you can start your online classes, including YouTube, or register on any teaching site and sell your online courses. When you have received a good fanbase, you can also launch your own website and publish your courses there.
With online education being the new normal, especially in times like these, this could be a great business idea in 2020.
5. Freelancing is Promising!
Freelancing is one of the most promising business opportunities in 2020 and you can really make some good money. Explore your strengths and become a freelance writer, graphic designer, or website developer based on your talents.
Also, freelancing gives you the required work flexibility as you don’t need to make long-term commitments. You get paid only for the work you deliver, allowing you to complete projects more comfortably.
6. Tried Being an Influencer?
Influencer marketing is gaining popularity since the past few years and brands are running after them to promote their products and services. Ranging from food blogging, fashion blogging, travel blogging, to providing reviews for the latest tech products, you can have a good scope to earn money through social media influence.
You can either open your blog, create an Instagram business handle or start Your YouTube Channel to reach a specific target market, and promote the products/services of various brands.
7. Start a Blog
Speaking about blogs, if you think you possess good writing skills, blogging is definitely a great choice! This has been a highly profitable business idea since the advent of digital marketing and helps to reach a wide audience. You simply need to choose your preferred niche and try researching unique topics to write on.
Make sure you build a loyal and engaging audience who would find good information from your blogs; so make them as meaningful and in-depth as possible. You can easily integrate a good monetization tool with your blog page and you draw money from publishing sponsored posts, selling your products, or hosting third-party ads.
8. Become an Affiliate Marketer
Affiliate marketing is another rewarding business concept that involves building a portal to promote other brands. You can recommend their products or services in your blog or on your social media channels.
Every time a consumer buys products using your unique code or referral link, you receive a commission. This is an excellent source of passive income and you can sign up for various affiliate programs (like FlexOffers, ShareASale, Affiliate Future, etc.) as per your interests and target market.
9. Publish Your Book
Let’s admit that you have thought of publishing your own book someday and let the world know your thoughts. You might choose a specific genre you are comfortable in, like detective, crime thriller, horror, adventurous, sci-fi, rom-com, historical fiction, fantasy, women’s fiction, biographies, and autobiographies, or even a cookbook.
You can even sell your work as ebooks on famous platforms, like Amazon. If creative writing is your passion, why not convert it into a source of income? It’s easy to get publishers and printers these days at very affordable prices. Just go ahead and pen down your thoughts and imaginations!
10. Develop an App
If you love coding, why not use your programming skills to make money? App development is a highly profiting business idea in an era when digital marketing is gaining the most attention. Today, more businesses are working on improving their customer experience and engagement, generally through mobile-friendly websites and apps.
Mobile apps have great potential for generating huge revenue of as much as $189 by the year 2020 (BuildFire). Interestingly, about 21% of Millennials open a mobile application for more than 50 times a day.
So, the more user-friendly the app will be, the higher would be its consumer engagement rates. Start building an app, such as by working with clients directly, or developing and selling custom Shopify templates or themes. Apps are the need of the hour!
We hope the above Online Business Ideas help you to think of a concrete strategy before launching your eCommerce business platform. Yes, online business is challenging and requires patience, but if done right, you are sure to shine!
The key is to do it smartly and keep up with the trends. Bringing innovations and adapting to changes will definitely push your online marketplace forward and help you stand out!
Name: Akash Tripathi
Bio: Akash Tripathi is a Content Marketing Manager at TopMobileTech. It is a blog where I cover all the tips & tricks related to Mobile and more related to tech. Stay connected to the rest of the world with Top Mobile Tech. We bring latest and critical news to your mobile and computer devices.