Jumping onto a new business idea can be highly risky, and yet very rewarding. Due t recent technological advancements, budding entrepreneurs are becoming more and more skeptical about investing in the online business environment. To a smart tech-savvy entrepreneur, however, online business opportunities are limitless. Here are the top four digital business ideas that may interest you in 2020.
Digital Information Products
As long as you’re passionate about something, that is sellable knowledge. You can decide to start selling digital information products on various channels online and earn lucratively. What you know could be a solution to a problem that someone has been struggling with for a long time! Start by launching a blog, building an audience, and promoting your information on social media.
Thankfully, your digital information products will never go stale or become extinct. You can produce YouTube videos, blog, and interact with the online community from the comfort of your own home at any time. According to Forbes.com, 34 percent of fortune 500 companies depend on active blogs to make money. Just make sure what you want to share is not a regurgitated version of what is already online. Be creative, authentic, and unique with your ideas. Create a converting sales funnel that will not only attract internet users but also capture qualified leads.
Be proactive and start searching for angel investors and guest bloggers to boost your campaign. Meet and mingle with business executives such as Dr. Ehsan Bayat of the Afghan-based Bayat Foundation to boost your dream.
Affiliate Marketing
Affiliate marketing has of late become a very lucrative online venture for smart internet marketers. The business model allows you to market other peoples’ products for a commission. You can easily make money from affiliate marketing without too much hassle by building an audience and targeting the right people.
You don’t have to keep an inventory, ship out, transit, or deliver any items to earn your commission. You simply need to market someone else’s product and get paid for just that effort.
Being an online affiliate marketer requires you to be smart, creative, and self-motivated. In other words, you’ll be your own boss, and no one will force you to work for a specific affiliate marketing network if you don’t want to. Major financial affiliate networks will pay you top dollar if you do it right. You only need to include chosen or assigned affiliate links in your digital content to earn legit money.
Each time your referred visitor clicks on the affiliate link and takes action, such as signing up or making a purchase, you get paid. Reputable affiliate marketing networks such as Rakuten Marketing and 99Firms.com are good platforms to get started.
Online Courses and Coaching
Billions of people from all walks of life are constantly looking for professionals who can teach them one or two things over the internet. They do this because they want to succeed in achieving a specific goal or acquire certain skills.
For instance, many people are into life coaching, particularly in weight management. If you’re looking to get into this niche, you need to take a unique approach, such as advising your audience to consider introducing hypnosis therapy into their weight-loss regimens. In other words, come up with something that most people have not heard of or thought about.
You can become an online coach or consultant in your specialty. For example, if you have ever ventured into a successful online business venture, make money by allowing upcoming entrepreneurs to pay you to share that information. There are many stay-at-home moms and fathers out there who want access to such information. Why not earn a few bucks or build a full-fledged business out of online consultations if you have the skills and knowledge?
Freelancing
Being a freelancer or virtual assistant allows you to become your own boss. You can become a freelancer working remotely as a copywriter, graphic designer, web designer, accountant, journalist, lawyer, or any other profession you can think of as long as you’re an expert in a particular field.
Furthermore, to cut down on overhead expenses and other operational costs, many companies across the globe are now hiring remote employees. This means that you can work comfortably from your couch, doing what you learned in college.
You don’t need to be extremely tech-savvy to work remotely; provided you have a stable internet connection on your desktop computer or laptop, you can start looking for online jobs in your field. You must be self-disciplined and hardworking because no one will supervise your performance. Jobs such as translating documents, copywriting, transcription, editing audio content, editing eBooks, and making show notes from digital data such as podcasts are plenty and surprisingly well paying.
Investing your limited resources in doing something you love can only be profitable if you’re focused and committed. Apart from the skills you acquired from your formal training, some little dedication will do you justice. All you need to do is scour the internet thoroughly, choose a niche, define your target market, and start making some business moves.