Here are the 10 best ideas to start an online business in 2020 and make money online.
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Perhaps you've been thinking of starting your own business for years but you've never gotten around to taking that all-important first step.
Maybe you're looking for an extra source of income to prepare for the recession that we all know is just around the corner.
Or maybe you've already been affected by it and your main income has dried up.
Well, as Gary Vee tells us there's never been a better time in human history to set up a business and of course that's mostly thanks to the internet
In today's video we're focusing on businesses that can be scaled, not online jobs that are limited by your working hours.
So let's not waste any more time and get straight to the 10 businesses you can start right away, that's right not next week, not even tomorrow but today.
Number one is flipping goods
Flipping things basically means buying something from one place and then selling it to somebody else for a higher price.
Some people who do it source their products from thrift stores, garage sales and flea markets but you can do the entire thing online and buy items from Amazon or Ebay or Craigslist and then resell them.
Even after fees for processing and delivery you can make a great profit for clicking a few buttons, it's a good idea to find a niche you're interested in and that has potential for big profits but make sure to look around that niche in detail to get good knowledge of the going rates.
The idea is to get really good knowledge on the going rates in a specific area, more in-depth knowledge than any other people who buy and sell from time to time.
And that knowledge will give you the ability to make money after doing it for a while on amazon and finding your niche.
You might want to start your own website, just ask Benjamin Kickz, he made his own website which makes millions of dollars a year specializing in collectible sneakers which often sell for over a thousand dollars a pair and his customers include Paris Hilton and Travis Scott.
Number two digital design courses
If you've got valuable know-how in a particular area of course you can make money from one-to-one classes online but that isn't scalable.
The money you make depends on the number of hours you put in teaching lessons but there is a way you can scale the same idea beyond the hours you put in.
Turn your lessons into an online course, this is a great way of getting exponential sales without exponential operating costs.
In other words, you can keep on making money without putting in any more time, also if you've got a successful blog you can collect a lot of your best ideas in the form of an e-book and the great thing is if you've already got a following on your blog you already have a customer base.
Well-written e-books can easily sell for ten dollars to download and if it's really great it could sell for more like 200 dollars.
Keep in mind there are a lot of digital courses out there though, so if you want to differentiate yourself you'll want to find a specific niche and offer a special book.
Number three low cost accessories
Do you know anyone who doesn't have a smartphone these days, think about every tech product from phones to smart watches that can be placed or wrapped in something.
The market is huge, there are lots of websites that sell accessories in bulk and you can turn a pretty decent profit if you know what you're doing.
You can go even further and contact suppliers directly to negotiate better deals and figure out the best shipping routes to cut down cost.
And if you feel fancy you can hire a freelance graphic designer to make you some interesting designs and make a deal with a painting and customs shop to apply the design onto your products.
Here's a pro tip, make sure you also get full rights on the design, sure the cost will increase and you're adding an extra cost into your little machine but it just might be the right way to distance yourself from the crowd.
Will you get rich from this, probably not but it's a super straightforward business to get into and besides some pocket money you'll also learn a lot about running a business.
Number four design and post-production agency
In the age of the internet content is everything and every piece of content needs a face, whether that's a thumbnail, a banner, a cover or even post-production, there is no shortage of work.
It's also an interesting domain if you're a very creative person because the competitive advantage will come from your own ability to create better visuals and how good you are with clients
But the competition is too big and hard for this, yes we hear you but think of it this way.
The entry barrier for designers is very low because everyone who changed the color of a background one time is calling themselves a designer now so that means if you're actually good and know what you're doing you're instantly better than the majority of people in the field.
Now you also need to get good with handling clients and making good proposals that you actually can complete, people don't mind paying extra if the extra is justified.
After you get the hang of this hire some help to handle more projects at that time and you're good to go.
Number five drop shipping niche and viral products
You can't have a list like this without mentioning drop shipping, but there's an important note here.
Drop shipping can go very poorly if you're doing it wrong ,the argument against drop shipping is that profit margins are very low and you need a lot of orders to get some real cash flow.
There's also no reason people should buy from you if they can find the same product on a more trusted website like Amazon.
People get caught up in the trap of drop shipping when they try to make a website that sells literally everything that can be sold online and they expand too big into every market thinking the more products they offer the more chances they have.
They waste time and energy thinking they're making the next Alibaba and that's the wrong way to do it.
There's a website that made close to a million dollars in sales by selling only one type of item with one design, a blanket with a burrito print on it.
Others made a lot of money during this pandemic by drop shipping puzzles, people are stuck in their house, they have nothing to do so they get puzzles to kill time.
Do you see the trend, think of an item that will make someone go, look what I got and then you've got something to work with.
Number six community oriented businesses.
We're talking affiliate marketing, blogs, podcasts, Youtube channels and everything in between.
We decided to place them all into one group because they're all super dependent on one very important factor, community.
We can actually say the real business here is community building, then it's just a matter of how you monetize it.
The thing with these businesses that is often neglected is you need huge numbers of orders or views in order to be profitable.
If you want to make good money out of your blog you better have a couple of million views a month, you want to promote products through affiliate marketing to your community so you better have a big number of loyal followers.
Just to be clear, we aren't saying it's impossible, we're saying if you want to start a blog to make money it's going to take a very very long time until you get there.
So unless you're super passionate about writing and creating content it might not be the right call.
Number 7 concierge services
Here we go into some juicy stuff, if you don't know by now, a concierge is usually a hotel employee who's in charge of making sure guests have stuff to do when they stay there.
It can involve anything from booking restaurants, making reservations, organizing trips and so on.
Have you ever planned a trip with your friends and there's always that one person who takes care of everything from accommodations to the logistics of the entire trip.
And you think to yourself, we should really pay you for this because we don't have the time or know-how to search everything, this can actually be turned into a pretty interesting new age business.
Think of it like a new age tourism travel and event planning agency, people want to do cool stuff, they have the money to do cool stuff but don't always know where that cool stuff actually is and that is where you come in.
Let's say you have a couple of friends who want to plan a trip next year, they want to swim, drive speed boats and watch the sunset from an infinity pool every night for two weeks straight.
Your job is to find the perfect location that has all the amenities they need along with flights, transportation to and from the airport, everything booked and ready. And you get to charge a fee for saving them time and research
Number eight web optimization and data analyst
A very similar concept to the graphic design agency where you need to have a special skill set beforehand.
What can be measured can be tracked and improved and your job is to do just that not, every business owner knows how to get their websites to come up higher on google or other search engines.
And of course that means more traffic and more money if you've got experience in this field, you could use it to show business owners how you can use analytics, data, strategic keywords and content structure to get more web traffic and again it's something you can learn fairly quickly if you're internet savvy.
Number nine new age marketing
Marketing has become such a broad term that nobody can say what exactly it means but think about it like this, marketing is like movement, you can walk, run, ride a bike or rent a jet.
If you have the money for it, the purpose is to get you going but it's not about speed, it's about efficiency.
Do you remember the burrito blanket website from before, one of the ways they marketed their product is by promoting photos of cute puppies in burrito blankets on Instagram.
That's what we mean by new age marketing, in order to be successful online you need to know two languages, the first one is obviously English but the second one is internet language.
Internet language means understanding what makes a meme funny, why Tiktok clips are going viral, what's hot on Reddit right now.
You can't really learn internet language, it's something you just acquire by spending a lot of time online and if you have the business skills you can turn this seemingly useless knowledge into a marketing agency.
Number 10 automation and bots
No surprises here, if you have the ability to build a system that automates the process, what are you even doing here, go do it.
Like it or not, people are being replaced by automated processes so make sure you're the one who builds them.
This is not a matter of right or wrong or if it's ethical or not. The industrial revolution will repeat itself and it won't wait for you to be comfortable with the idea.
People are so resistant to change to the point where they fail to see that progress is made to make our lives easier, always try to be ahead of the curve.
Now, for those of you who want to build an online business, become successful, and make a full time income online, make sure to check out the first link in the description below for my free training.
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