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Top 3 Online Business Ideas for You to Start Earning on the Side

David
Peter Martinez updated on 2020-09-25 17:19:49

In this world of ever-growing technology, online business ideas are being generated at a very swift pace. Internet is filled with a lot of literature to the search queries like "online business ideas from home" and "online business ideas 2020".

While this plethora of knowledge is available to guide potential entrepreneurs, many get distracted and start with that business idea which they realize is not their cup of tea. By the time, they know it, they also lose their motivation, to begin with, another business plan.

So, we decided to list down those practical business ideas which are feasible for everyone irrespective of how much tech-savvy that person is.

Dropshipping

What if I tell you that you can start selling pre-existing products without giving rent for a warehouse? Yes, you heard it right! In drop shipping, you are not required to have a warehouse for inventory storage.

Dropshipping is a great way to start a business on a budget because in this all you need is an appealing website with some marketing skills which you can learn very quickly from the internet. This business model allows you to skip over all those obstacles that might be stopping you from starting your own business. Furthermore, it eliminates the risk of finding out that there is no market for your chosen product after you place a massive order with a supplier or manufacturer.

online business ideas

Source: unsplash

Why Dropshipping?

  • Free from the responsibility of stocking products in a physical location. It means that you can manage your cashflow without worrying about inventory-related costs. Less upfront cash is required.
  • Whenever you got an order, you go to the third party stores such as Amazon to place an order with them, and they will take care of the rest of the process on your behalf. You will not be required to mail packages as Amazon will pack and dispatch that for you within their boxes.
  • Since it doesn’t require you to have any physical store, you can work from anywhere and anytime as per your ease.

Note: We have mentioned Amazon just for an example; there are many third-party stores with which you can do dropshipping business.

Affiliate Marketing

You must have seen some salesperson in physical stores or big shopping malls who motivates you to buy their recommended products because they would get a commission out of them. Similarly in the digital world when you recommend a product or service by sharing it on your website, blog, social media, YouTube or any other digital channel and someone buys through that unique referral code; you get a commission.

You can access ClickBank, ShareASale, Affiliate Future and FlexOffers to look out for Affiliate programs. Amazon has its affiliate program as well in which they give a certain amount of commission against specific products. And, that rate is different for different regions.

Whenever you sign up for an affiliate program, you get a unique link or code which you have to place within your blog post, in Youtube’s video description and anywhere besides your content. In this way, if a person who is reading your blog post or watching a Youtube video access that link and make a purchase, you will earn a specific commission on that product based on the rates which that platform has set up within your region.

small online business ideas

Source: unsplash

Why Affiliate Marketing?

  • Suppose you are looking for online business ideas without investment. In that case, you can set up your blog on free website building platforms and use affiliate marketing techniques to generate an income for you.
  • Every other day we are promoting some products or services intentionally or unintentionally so why not getting a few bucks in return to what we love to do already.
  • It is an excellent source of passive income. For instance, if you have written a blog post for a specific product for which you have got an affiliate link from Amazon, you will continue to earn the commission as long as people are purchasing through it. You will not be required to write a full blog post every time – a little editing will work for you.

Among many other best online business ideas, Affiliate Marketing stands out.

Blogging

Since its inception, Blogging has come a long way, and they are now considered as part of mainstream media. It is among the most sustainable online business ideas. Blogging allows you to make money from Sponsored Ads and Posts. You can also sell your products and services using this medium.

You can monetize your blog using Google Adsense, Ezoic and with some other reasonable monetization solutions.

The key to a successful blog is to identify the niche and gaps in the existing content and then to write with an audience-centric approach. By using this approach, you can cultivate a community which stays with you, no matter what.

online business ideas from home

Source: unsplash

Why Blogging?

  • While Blogging is one of the small online business ideas, the growth potential can be unlimited if it is used effectively for the right purpose. It could take months to generate your first dollar, but consistency can lead you to earn even more than $10000 per month easily. Ezoic offers a good revenue per 1000 visitors as compared to Google Adsense.
  • It allows you to practice your writing skill which is essential to have in business communication.
  • You can voice out your concerns by blogging and share them on social media.

So by now, we have discussed all of the three ways with which you can start earning money. There is a ton of information available on the internet if you want to know how to set up a blog, dropshipping store or affiliate marketing website.

For all of the above mentioned online business ideas, you need to have a website. And, the first step to create a website is to start with the Prototype Designing.

Wondershare Mockitt is a design tool with the help of which you can create a prototype for your Dropshipping store, Affiliate marketing website and a blog.

It is crucial to design your website in such a way that attracts your visitors to buy from your dropshipping store, readers to keep reading your blog and customers to purchase a product after reading your blog post. And you cannot just create a website without having a Prototype – It is same as if someone wants to build a house without getting the help of an architect. An architect gives the map and a plan for the construction workers to be able to start building the house.

Similarly, Mockitt gives a platform to the designers so that they get able to exercise their creative muscles before they hand over the design to web developers.

Mockitt has all of the features which you can expect from the state-of-the-art designing tool. Every element which is required to create a Dropshipping store, blog and an Affiliate website, you will find that within Mockitt library.

Mockitt allows multiple designers to work on a single prototype at the same time. You can collaborate with all your stakeholders simultaneously.

And Mockitt takes complete responsibility for all your data related privacy.

So, give it a try, and you would certainly end up making beautiful designs for your Dropshipping store, Affiliate websites and blogs.

best online business ideas

Keep one thing in mind that Unique online business ideas are not something which you should be looking at, but the practicability of that idea is what that matters the most.