By harnessing the selling power of the internet, anyone with a computer can now start a business. What’s more, you don’t have to have the considerable resources of a traditional start-up to get your venture off the ground.
As the world continues to battle the COVID-19 pandemic, more people than ever before are struggling financially and looking for innovative ways to make ends meet. With a bit of ingenuity and effort, you can turn your idea into a profitable business with little or no money down.
There are many potential business opportunities online for the millions of people who are now trying to make a career work at home during the quarantine. You don’t have to have a lot of technical experience to make things work. Using a variety of free online tools, you can put together a business platform like a pro.
If you are struggling during the pandemic, you can get some financial help from a Canadian online lender and look over our short list of online businesses that you can start for free. Get inspired and open your business today.
Drop-Shipping
The basic principle of a drop shipping business is to sell products to your customers directly from your supplier and avoid having to pay for any inventory. Your supplier will handle all the shipping details, and you can collect the money for your products.
Simply put, you choose products to stock your online store at a higher price than it’s being sold from your supplier. When a customer wants to buy an item, you simply order it on their behalf from your supplier, pay a discounted price, and forward the shipping details. For example, if you wanted to sell iPhone cases on your site, you may list them at a cost of $15. Once a customer makes an order, you then purchase the item from your supplier for $5 and pocket a $10 profit.
Work with supply companies that cater to drop shipping retailers to get the best prices. You can choose from thousands of different products and focus on the items that interest you the most. Your focus can be on your marketing and advertising and leave the rest up to your supplier.
Blogging
Maybe you want to share your experience as a new parent or want to connect with other people who enjoy international travel. Whatever your passion, there is a platform as a blogger. Using online services like Blogger.com, you can start your blog for free and start making money just for sharing your stories.
If you aren’t sure that your writing skills are up to the task of blogging, you can try a video blog or a photoblog. The crucial thing is to post quality content that will draw an audience to target using search engine optimization (SEO). This will help your readers find you more easily on the internet.
Using tools like Google AdSense, you can effortlessly include banner ads to your blog to bring in a casual income. You may only make a few cents for each click, but with several ads on your blog space, those pennies will start to add up.
Information Products
Your online business doesn’t have to sell only physical products. Creating a site where you can sell informational content for a price can be very profitable. Once you choose a niche that you know, there are a few different ways to create informative content.
Videos
- Record an instructional video and post it on your site, your social media, and YouTube. Subscribers that need the information in your video will pay for quality content.
E-Book
- There are no limits to the subjects on which you can create an e-book Essentially, you are making an informational pamphlet that includes instruction or education for your users.
Audio
- Record a voice recording of an instructional class, an interview, or any spoken guidance that will inform your users.
Affiliate Marketing
This type of business is similar to drop shipping in that it doesn’t require you to spend money on physical inventory. The difference comes in how the transaction is completed. Once you choose a niche for your site, you can start including links to an affiliate partner in your content for services and products. Forging a partnership with large companies like Amazon.com and CJ Affiliate will give you access to millions of informational and physical products to share with your customers.
As your subscribers go through your content, they may choose to click on a link for more information. That action will take them directly to your affiliate marketing partners site where they can complete the transaction. Once the product is purchased, your affiliate account will receive a commission on the sale.
The most important part of starting a successful online business is to find the right niche. Some of the most profitable online platforms include parenting, travel, technology, clothing, and makeup. Find the right topic for you and start making some money with your new online business today for free.
