Online hustling is the new freedom. Maybe you are a parent and just want to have more time with your family or you just want to complement your income.
Finding a way to make money online will give you time freedom as you can work from anywhere. It will also provide a wide target market as the audience to reach is global.
Here are 11 possible online businesses you can start today:
1. Dropshipping
This is a perfect business model if you want to be self-employed but without handling stock.
You find a possible product to sell, that should solve a problem and is marketable.
Source for a reliable supplier with the fairest prices.
Create an online store around your product, you could use Shopify or WordPress.
Get a domain name and launch your store. Constantly market your product on social media.
When a customer makes an order, place the order from the suppliers’ website and put in the customer’s address, so that it is shipped directly to the customer.
Pros
No product handling.
Minimal capital is required.
Good margin sales will create great revenue.
You can sell several products without handling stock.
Cons
Damaged products may be delivered to a customer, as you have no direct contact with products, and this may increase return rates.
A bad supplier can ruin the whole business.
You do not have all the product information.
2. Affiliate marketing
If you are on any social site this is an amazing business model to complement your income.
Google affiliate programs, associated with the niche you mostly post about.
Register for those programs, you could try digistore24, JVZoo, Rakuten affiliates. Pick a product or service and a link will be provided.
You can post and market the link on any social site.
If a customer follows the link and makes a purchase a certain, stated commission amount is credited into your account.
Pros
No stock handling.
No capital is required.
Flexibility as you can work from anywhere.
May make sales years after sharing your link.
Some programs have repetitive commissions from monthly payments.
Cons
Some programs have minimal commission rates.
Requires constant and extensive marketing to make constant sales
You have no control over the products or the customers.
3. Joining the stock market
The stock market trades a trillion dollars in a day, so you can take some form of training to better understand the venture.
You have the option to trade in online exchanges or to buy and sell currencies, through sites such as Binance.
You can create an account and start trading on the currency of choice.
Pros
Makes fast sales and profits in a high-rising market.
Brings time freedom as it can be done from anywhere.
Easy to buy and sell.
It is a convenient investment opportunity.
Cons
A certain capital will be required.
Fast profits equals fast losses in equal measure.
The market is prone to constant fluctuations.
4. Importing and selling
In the retail market, there is always something new and a new need that is yet to be met.
Find a product that can solve a problem and ship it from your supplier.
Create an online Instagram shop and extensively market the product through posts and ads.
Pros
Has time freedom as it can be done online.
The ability to find a less saturated product can generate a lot of sales.
No finances for a physical shop.
Wide target audience as it is online.
Cons
Requires start-up capital as there must be stock.
Stock control is essential as goods could be stolen or damaged.
If a product does not sell as expected losses will be incurred as stock was already bought.
5. Blogging
If you are a writer or have some form of expertise in a certain field, you can write articles and post them on your blog.
Eventually, when the site has a good enough following and articles you can monetize through ads and affiliate marketing.
Pros
Startup capital is minimal as it includes the purchase of a domain and hosting for your website.
It is a learning avenue through extensive research.
You get to share your knowledge for community development.
Helps build an audience that can be harnessed to create other businesses such as product sales.
Cons
It takes time to grow a following and to write catchy and consistent articles.
Traffic to a blog will not always be at its highest.
It requires extensive research to write outstanding posts.
6. Social Media Management UGC Content Creator
At the moment every thriving personality and business has an online foothold.
A social media manager controls the social media presence, by growing a following and maintaining a positive image.
You could create a social media presence and run interesting, catchy, and viral content.
Use these pages as part of your portfolio to reach potential clients.
Pros
No startup capital is required.
Has a large working scope, as you can take in as many clients as you can handle.
It is well-paying.
You get to build a brand and an audience.
Cons
You have to have some knowledge of SEO (Search Engine Optimization) and control what reaches the public and their reaction.
Bad publicity can ruin a brand and your reputation in the industry.
You never know what to expect from social interactions.
7. Offering Online Services.
If you are an expert in a certain field could be finance, medicine, architecture etcetera.
You can create a profile on sites such as Upwork and Fiverr.
State the services you offer and the amount charged and bid on any available work in your field of expertise.
Pros
You get to choose the jobs you can do in terms of time and knowledge.
No startup capital is required.
You choose your rates.
You get experience from your field of expertise.
Cons
If the jobs are at a low season you could earn very little to nothing.
Bad reviews or account dismissal may hinder you from getting clients.
8. Print on Demand
This is a business model where products are printed after an order is made.
You can get a free account on Canva, create designs, and download them.
Then you can create an account on sites such as merch by Amazon, Zazzle, Printify, and Printful among others, and digitally place your Canva designs on products.
Market your designs and once a customer makes a purchase you earn.
Pros
No startup capital is required.
You can earn by creating designs and marketing through affiliate links then you get double commission as a creator and an affiliate.
You do not handle stock.
Cons
Your designs have to be very unique and marketable and extensive marketing has to be done to make sales.
Not handling stock could bring quality issues to the products delivered to customers.
9. Amazon FBA (Fulfillment by Amazon)
This is an order fulfilment hustle.
You can find a saleable product and purchase quantity.
Amazon will get your purchases from your supplier and store them in their warehouses.
You will make a post with the selling price on Amazon and once a customer makes a purchase amazon will pack and send it to the customer.
Pro
No product handling.
You have access to a large target market of people accessing Amazon every day.
You could earn as a supplier and share a link as an affiliate and earn as well.
It is a flexible opportunity as you can work from anywhere.
Cons
No guarantee on the quality of items sent to customers, as you do not handle stock.
Startup capital is needed to purchase the stock.
Competition can at times be very high.
Returns and refunds lead to losses.
10. E-Books creation and reselling
Selling, reselling, or creating eBooks is a perfect side hustle.
You can opt to buy books on PLR.ME as it gives you resell rights to market them as your own.
You can also find a book supplier and sell the books online.
Better yet you can create your books for example flipbooks, low-content books, and eBooks, and sell them as downloadable.
Creating eBooks can be down on designrr.
The books can be sold on your website, social media, and even on Amazon Kindle.
Pros
Startup capital is minimal.
As a downloadable, the books can be sold all over the world without the possibility of damage.
Sales can be made years after posting a book online.
Cons
Most of these books have low-margin profits.
Creating an eBook could be time-consuming.
Conclusion
It takes several streams of income to be financially comfortable.
Most of the above business opportunities have time freedom and require minimal capital yet provide an opportunity for growth and great financial benefits.
During a time of digital marketing such as this, why have you not begun yet? Take time, research more, and start building on your business today.
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