“If your business is not on the Internet, then your business will be out of the business” – Bill Gates
If you’re planning to start your online business, this is the right time. We live in a golden era of opportunities. The advent of the Internet and smartphones bring unlimited opportunities. Online business is booming like anything. There’s certainly a lot of competition. But there’s also plenty of so-called Blue Ocean. Since the eCommerce business is booming, the growth is widespread and across every single sector in business.
Considering that the internet is still largely in its infancy, as the modern technologies give way to near-instant delivery of products via drones, 3D printing, and other means, and as virtual and augmented reality help to improve the online shopping experience, nearly all our commerce will eventually be conducted through online channels rather than offline channels.
The question is, how can you take advantage of this massive surge of internet revolution? If you’re looking to start a simple online business as a side hustle, or you want to become millionaire, here are Top 8 business ideas that will make your dreams come true:
Starting an online business:
With less investment or without investment, you can start your online venture. To start an online business, you don’t need to be a professional. If you know the tricks of online marketing, or if you’re familiar with social media, you’ll clearly find it easier. Using your time wisely and managing your time properly is crucial to ensure your success.
- Chatbot business
A chatbot is artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, and mobile apps or through the telephone. A chatbot is often described as one of the most advanced and promising expressions of interaction between humans and machines. Users communicate with a chatbot via the chat interface or by voice, like how they would talk to a real person. Chatbots interpret and process user’s words or phrases and give an instant pre-set answer.
Many businesses looking to automate and reduce much of the man-power it takes to have a chat with its customers. Not only Customer care, but tasks such as checking the weather, ordering a pizza or hiring cabs can also be done more efficiently with chatbots. Similarly, businesses can use chatbots to automate tasks such as inventory ordering and management. You can launch your chatbot business to help automate the sales and marketing efforts of clients. It has a huge market that you can harvest. There are a variety of chatbot-related services that you can offer your clients. These can be priced independently, upsold, provided as free, or whatever combination you think would work best in your particular niche.
- Box subscription business
Businesses hitting big with the subscription box model. The online subscription market has more than doubled each year over the past five years. Subscription boxes are one of the best ways to shop, period. They offer consumers unique experiences curated around products and themes, introduce new brands, and make checking the mail just plain fun. In a nutshell, a subscription box is a fantastic way to indulge a favourite hobby, try out new products or simply treat yourself or a friend to a unique monthly experience. On the business side, subscription commerce offers a stable financial model rooted in recurring monthly revenue that can be built around almost every niche – from puzzles to beauty to pets. If there’s an existing community around a product or category online, chances are you can build a subscription box around it. First, start with a great subscription box idea and launch it. Set up your website, Marketplace listing, or both. Then take orders and ship your subscription boxes. Grow your subscriber base.
Connecting with customers is one of the keys to obtaining success as a subscription box company. Providing value, quality and fulfilling market needs will make you stand out among others. If you make the unwrapping of a package an overall gratifying experience, you will secure a loyal following that will be sure to spread the word and help grow your business.
- Ad management business
Ad management is a planned managerial process designed to oversee and control the various advertising activities. It is designed to reach the target audience and influence the consumer’s purchase decisions. If you do understand the basics of paid advertising, then you could easily launch an ad management business. Considering that ads are fueling the growth of tech giants like Facebook, Instagram, Google, and YouTube, with loads of others coming into the mix, understanding and navigating the murky waters of paid advertising could poise you to reap massive riches.
The sheer facts reveal continued explosive growth of online ads. And we’re still in the infancy of the internet. The earlier you capitalize on this industry, the quicker you can build it into a formidable online business. Study and learn all the complexities of advertising on platforms like Facebook and Google. Find courses, or use the free material available from a multitude of platforms to become a seasoned pro.
- SEO business
An SEO company offers search engine optimization services to businesses to help them improve their visibility online. Search engine optimization is the process of making changes to your website design and content to make your site more attractive to the search engines. When it comes to organic search keywords, there is sheer value at the top. Considering that roughly 40% of people click on the first search results and that the first page accounts for some 91% of the search share, appear organically at the top of Google’s Search Engine Results Pages (SERPs) is something that is lusted and longed for by the world’s foremost online marketers.
As the internet grows and expands, not only is SEO going to get more competitive, but it’s also going to grow more lucrative. You could quite easily capitalize on this industry if you know what you’re doing. This doesn’t just go for doing work for clients, but also yourself. You could launch any number of online businesses, niche websites, and blogs with the right amount of SEO skills.
- Vacation rental business
Vacation rental industry is evolving notably fast last few years. Just a few years ago, vacation rentals sites mostly consisted of individuals who were looking to rent out an extra bedroom or a second home. Today, the vacation rental industry is well-established on these platforms with a plethora of third-party services available to support growing businesses. Vacation Rental Marketing Is on the Rise. Today, vacation rental industry platforms such as Airbnb, VRBO, and HomeAway have millions of listings combined. With a vacation rental industry that is worth more than $100 billion, the stakes for hosts are higher than ever when it comes to making money from their rental properties. As property management agencies join these platforms to compete with individual property owners, the competition among hosts has only increased. By providing additional services to guests, hosts can create and exceed the experiences that guests have come to expect as the standard of staying with a hotel.
These days, unoccupied properties can essentially be transformed into hotels with very little effort. As a result, a marketing study predicts that by the year 2020 vacation rentals will topple hotels. Overall, vacation rentals remain extremely profitable for hosts around the world. However, going forward property investors may need to adjust their strategies to account for increased competition by adopting third-party tools and adding new services to their accommodations. While hosts should prepare to adjust their vacation rental business plans going into 2020, there is still plenty of money to be made in a rapidly growing industry.
- Webinar business
Webinars can be an extremely powerful tool for businesses looking to market a product or service or even startups wanting to attract audiences and gain visibility. A well-planned webinar is a win-win both for your business and your customers or prospects. It gives you a chance to interact with, and sell to, your customers while building value for them that no other sales strategy can offer. Webinar offers an engaged audience that is ready and willing to purchase whatever it is that you’re offering. The best way you can launch a webinar business is to find a product you can promote and get behind. Then, build an excellent webinar.
Promoting your webinar is as important as, if not more than, creating it. After all, it is this step that will get you your customers and enable you to pocket the revenue. The success and failure of your webinar depend upon how well you’re able to promote it. Either way, you approach it — whether you have an existing business or just want to sell as an affiliate — some of the best webinar platforms that you could use are GoToWebinar and Andy Jenkins’ WebinarJam.
- Business coaching
Business coaching is a lucrative online business that can tap into the massive market of entrepreneurs and business owners trying to find their way in the world of commerce. If you’re an expert in business or have a deep understanding of the market forces of what drives purchases, then becoming a business coach could mean financial freedom.
The best approach you can take in this industry is to offer an incredible amount of value upfront, and then have people pay you for execution. First, you analyze the business and understand where it is today, then discover where they want to be down the road, and then figure out an approach to get them there. The understanding and successful execution of an effective strategy are key here. You want to instill confidence in yourself, and to do that, you often need a good deal of social proof. For that reason, if you do want to launch a successful business coaching business, first, grab some customers and help them succeed. Then, get their powerful testimonials, and only then can you actually position yourself to charge high-ticket rates.
- Mobile App Development
With the advent of smartphones, the mobile app market is growing faster than a beanstalk. The industry is huge and growing daily, and there is no end in sight. The global app economy will be worth $693 billion by 2021. During that same time frame, people using apps will be 6.3 billion, while the time spent in apps will grow to 3.5 trillion hours in 2021. Expectedly, the mobile developer population has boomed, and the number of mobile apps in the market has hit new heights. The revenue generated by the global mobile app industry has skyrocketed.
Mobile app development can be a profitable business venture since demand has been skyrocketing for years – whether if it’s a game or app that provides a useful function, such as a budgeting tool. If you have an idea for an app, you can start. If not do the market research and select niche. If you know coding, you can create the app. Otherwise, You can hire a programmer to develop the app. Then place it in the Google play store or App store and promote it. The App Store is filled with thousands of great apps, so to be successful, you’ll need to breakthrough. Focus on a few key areas to effectively market your apps, allowing customers to discover and download them. Your app’s basic elements are marketing opportunities, and that is essential to being successful in the app business.