10 Proven Online Business Ideas For Newbie Entrepreneurs [2020]

The world is such a large market in that, even if everyone decides to be a business person, we’ll still have a huge market to sell to. Every serious-minded entrepreneur understands this fact. But here is the big news; did you know that 56 percent of the world population is active on the internet?

I’ll bet you didn’t know.

The Internet makes doing business a lot easier for us. Rather than make us go for things we need, the internet brings the things we need to our doorstep. Day to day necessities such as health care, food, shopping, conversations, information exchanges, and real estates can be efficiently managed on the internet.

Most people limit their use of the Internet to the aforementioned items or a little more, but the Internet is a hub of infinite resources, opportunities and wealth.

The internet economy fueled by innovation and technology has evolved so rapidly over the years. As of April 2019, 56.1% of the world’s population was estimated to have internet access and 81% of the developed world. That is to say that no less than 4.3 billion people currently use the internet.

whoops! You wish you had known this earlier, don’t you? Relax, we aren’t even there yet.

Global internet access is projected to double up to 7.5 billion in the next ten years. Imagine sitting down in the comfort of your bedroom and offering a service to 7.5 billion people. Isn’t that fascinating?

With such a huge market base, it is nearly useless to not be able to make at least 100 dollars daily on the Internet.

But often, our minds seem beclouded with questions like;

How can one make so much money on the internet?

The Internet is fraudulent, why should I deal online?

Is it even possible to earn from the Internet?

Wait! Are you talking about Yahoo (slang for Internet fraud) dealing?

Certainly not.

Without much ado, lets cut to the chase. In case you have been thinking about what business you want to venture into this 2020. Here are the top ten legit businesses that you can do on the internet and make good money.

1. Affiliate Marketing

In online business, there is always an opportunity for everyone. If you don’t have anything you are good at or don’t have the time to compile information or create a product to sell to a hungry market, then you can also make money by selling information produced by other people for a commission. That is what Affiliate Marketing is about. Many people are earning 6-7 figures in dollars every month from affiliate marketing.

Want to start an affiliate marketing business?

First, select a niche you are interested in promoting. Start building a list of people who are interested in your niche. Then you can start promoting other people’s products to your audience and earn a commission for each sale that comes through your link.

In affiliate marketing, the commission you earn is solely dependent on the product you are selling. A digital product may offer as much as 75% commission while physical products usually attract between 2% to 10%. But for a product that sells in hundreds and thousands of units, you can still make some good money out of it.

2. Create and Sell Online Courses

To fit into the modern world economy, every one of us has to learn a skill. The future workplace demands creativity and new ways of thinking, and of course, everyone is trying to match up to the new trends. Figures have it that in 2020 more people will develop new skills; in essence, a lot of courses will be purchased online and those who sell these courses would earn some good money.

There is a high demand in different fields for coaches and consultants… most of these are in wellness, fitness, digital skills, and online marketing. These are great ideas for online business ventures! And if you are an expert in any of these fields, You can deliver a service or training course via Tutorial videos, coaching videos, and lots more. Just be sure you solve your clients’ problems and you are in business.

3. Information Marketing

This business idea involves you selling information on a given topic or field as an expert in that niche. If you have sufficient skills or knowledge related to a particular topic, then you are one or two steps ahead in launching yourself into the business of information marketing. For example, there are lots of people who are looking for information on how to trade FOREX and you are an expert in that area. You can compile a step by step guide on how to start trading FOREX. With your knowledge and skills, you can build people up while making some cash along the way!

4. Drop-shipping

Drop-shipping nowadays has become a very popular business and it’s one of the fastest-growing sources of income that you can tap into right now. With drop-shipping, you need no inventory of any goods at all and you can sell products to customers, set your prices and promote your brand.

Dropshipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers its customer’s orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.

Wikipedia

I’ll tell you what, if you’re willing to knuckle down, you can build a successful brand with this business model.

5. Professional Blogging

Many would argue that blogging is a saturated business as there are so many blogs out there and much more springing up daily. But that’s not true, and I’m saying this as an expert in this field. Of course, it’s not easy to stand out as a new blogger especially if you lack the skills to create and promote your content. However, most blogs fail not because there are too many blogs out there but because there are too many blogs blogging about the same topics in the same way.

Saturated as the blogging business may seem, some blog niches are still quite deficient in content. And that’s beside the fact that many bloggers aren’t even in the business to make any money. In 2020, there is a huge difference between professional blogging and blogging just for the passion of it. Of course, they will tell you to blog about something you are passionate about but passion alone wouldn’t bring you a dollar.

Want to make money blogging in 2020?

If you want to earn some good money as a blogger in 2020, you must strive to work smarter and not necessarily harder.

First, choose a profitable niche by finding a way to solve problems your target audience is currently experiencing. Then take your time to start creating rich content that appeals to not just your target audience but anyone who bumps into it. Develop a unique way to double-up your reach and be stern enough to keep pushing forward until you start getting positive results. Understand that It’s gonna take a while for your blog to start getting good traffic, but if you sink your teeth into it, it might not take that long before you start smiling to the bank.

OTHER ONLINE BUSINESSES

Become a Youtuber

You can share unique videos on youtube and make a living. Find what your audience loves and make a suitable video, that’s all. You can also create crash courses/tutorials to teach a skill you know or help people solve a problem.

Start an eCommerce Store

Do you have a product you have created or do you sell products for other people or companies? This is for you. You can create a store online where everyone gets to see your items. Trust me, you can make more sales from eCommerce than you have ever imagined.

Online Researcher

Most people or organizations do not have time to conduct researches themselves so they engage others who are willing to research for them at a fee. If you are a good researcher, this is a good business opportunity for you.

Podcasting

Podcasting is fast becoming a big deal. It is kind of easier explaining things to a person over voice than putting them in writing. If you’ve got something important to say, you better start selling it.

Start Now

We have discussed these few online business opportunities and there are many more we failed to mention. Look around you, and find that product, service or knowledge you can market online and kick-start your brand. There is no doubt about making money on the internet so long as you are persistent, consistent and unique. Though it may not be all easy in the beginning, it gets better with your mastery of the business.

Besides, you can find fulfillment when you decide to become the boss of your passion. Statistics have it that a good percentage of not less than 30% of businesses gained a threefold increase in sales when they moved their business online. More than 20% of internet users today have been able to change what they originally saw as fun into a good source of income. The internet is taking over, don’t be left behind.

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