10 Internet Business Ideas To Make Money Online-Starting up a business is by no means an easy task. If you want to learn how to make money online, you need to have good business ideas, but you also need a great marketing plan. The good news is with a domain and hosting, alongside some basic skills, your ideas can become a reality. Each of the internet business ideas below are competitive niches, so make sure you go in with all guns blazing!
1. Trade currencies
Every day, there is a huge fluctuation in FX markets. If you have a combination of technical and fundamental analytical skills and some cash flow, you can become an online currency trader. Places like www.forexfactory.com are great for learning the basics. Remember, this is leveraged cash, so if you make the right decisions, you have a chance to profit big! At the same time, the risks can be high if you don’t have a money management strategy in place.
Example – Bill Lipschutz
Bill Lipschutz is considered to be one of the best FX investors of all time.
2. Build apps
Again, CodeAcademy will give you good grounding in coding languages. Expect to train for 12 months before being able to build apps that are going to achieve lots of sales. There are a few options when it comes to building apps…
- Bespoke basis for clients
- Sell based on a fixed fee (multiple licenses)
- Charge a monthly fee
Example – Summly
Looking to hit the jackpot? Checkout this recent acquisition by Yahoo! to buyout Summly for $30,000,000…from a 17 year old!
3. Manage social media profiles
Social media is an important part of any online business. The problem? Time! Most business owners simply don’t have the time to be involved with Twitter, LinkedIn, Face Book and other sites, in a pro-active way. That is where you can help.
If you can engage clients and build up attractive social media profiles, then you will be able to attract clients, which makes this a service with value. Again, these projects are posted on freelance sites such as People Per Hour and Elance on a regular basis, so you can start building up clients straight away! Check out these amazing statistics for LinkedIn!
Example – Clorox Bleach
If you can consistently provide companies with successful social media campaigns and improve their profiles, they will pay. Clorox Bleach had some huge success with one of their recent social media campaigns.
4. Create valuable resources
The sites that hold the most value on the web hold the most valuable content. Face Book holds information about what hundreds of millions of users. YouTube possess millions of funny, educational and controversial videos. If you can create a website that focuses on offering valuable resources, then you just might be onto a winner.
Remember, you can offer the freemium model mentioned previously if there is no scope to achieve high advertising revenue. You could even be teaching others how to make money online, while doing exactly the same thing for yourself!
Example – Shopify
Shopify is a great example of the freemium model. By offering some applications for free, they get exposure for their whole business. Since the company was founded in 2004, they have acquired 30,000 customers, including Pixar and the Foo Fighters. Their revolutionary “build-a-business” competitions in the past have produced over $70,000,000 in revenue for over 14,000 entrants.
5. Offer telemarketing
Telemarketing services are great for appointment setting as well as creating warm leads. More and more companies are looking to outsource their marketing efforts and this is where you could fit in. Telemarketers charge £15-30 per hour depending on the size and type of operation.
Example – DM Concepts
DM Concepts is a telemarketing company that has managed to achieve some fantastic statistics. The higher quality the service you offer, the more you are going to be able to charge!
6. Create videos
UK spend on online video has seen 13.5% year on year growth, and now exceeds spend on TV advertising. (PriceWaterhouseCoopers) Hundreds of statistics like this have meant that businesses have to produce videos. Well, they don’t have to, but if they don’t, they are going to be missing out. Video platforms are just another avenue to acquire potential consumers. You can offer video packages from £50-5,000 and beyond. Select your target market and market to them effectively.
Example – Old Spice
If you can couple video production with the ability to be creative, you can make videos go viral. If you can do that, your £500 video is going to be worth £5,000 or even £50,000 to a client. Checkout the results from the Old Spice video campaign!
7. Train and mentor
Perhaps you have a specific skill set that you could teach. There are hundreds of skills that can be taught over the internet, especially due to the fact that services like Skype are free.
You might have to offer a free service now and build a freemium model (offer free accounts with limited features, then charge for upgrades) for the future in order to make some large amounts of cash. It’s one of the good business ideas for those with extensive amounts of knowledge. You could:
- Teach a language
- Offer marketing training
- Help improve writing skills
- And more!
Example – Code Academy
Although it is only in the early stages Code Academy is going to be one of those online training centres that really stands out from the crowd. More than one investor has seen the potential that is has with the Academy getting over $12.5m in investment within the first 12 months, including investments from Richard Branson and Yuri Milner.
8. Become a drop shipper
Drop shipping is fairly similar to running an affiliate store. You act as the mediator without ever touching the product. The difference between a drop shipper and affiliate is that the sale with drop shipping websites is not completely managed. You might have to set up systems to automatically make a purchase with your drop shipping company, in order for it to be sent directly to the end consumer.
Example – iPhoneStore
There was a sale confirmed on Flippa a few years ago for iPhoneStore.com. It was producing nearly $30,000 in revenue every month and sold for $90,000.
9. Deal in domains
You’ve heard of antique dealers and even car dealers, but what about dealing in domains? Domains are internet real estate and like real estate they could be considered as an investment. Don’t just buy any domains, spread your risk with a portfolio and make sure you hold out for the highest price possible.
Learning how to connect with the end consumer, rather than other domain dealers, will enable you to get the highest price possible for your domains.
Example – Domaining.com
If you are not familiar with some of the prices that domains have been sold for, then the all time list here is worth looking out. Checkout hotels.com, which went for $9,500,000! One of the highest domain sales back in 2012 was silver.com which sold for $875,000.
How about setting up a business that focuses on outsourcing? Most successful service providers on the internet find that they need external help at some point. They might have a blogging client that requires logo design. They might have a guest posting service client that needs web design . Instead of actually providing the services personally, you could outsource and take a profit margin of your choice! Make sure you learn how to outsource first!
Example – Copify.com
Copify is an example of a company that uses outsourcing. They source writers and they source clients. They connect the dots to create an online business deal and take their profit margin.
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