Here, you can find 10 online businesses that you can start fast. They are online businesses that have high demand and are highly profitable. Most of them could earn you good profits. The only setback is that the majority of these online businesses have a lot of competition. That said, I will briefly discuss them below. You will know how you too can claim a portion from the profits of the online business world.
1. Sell Information
People are starving for information nowadays. Information could be anything that passes across a message in these online businesses. Art can also be a kind of information, images, files, games, books, software and e-books are information too.
You may decide to create your own products. Then again, you may decide to have other people create it for you. Either way, you must invest time and money.
You will have to outsource the projects if you wish to have the products created for you by others. You can go to others even to people outside your country in these online businesses. This is the technique that so many companies make use of today.
Selling information is always lucrative because the costs of reproducing a product you sell is next to nothing. As long as you can create the first product you can make as much duplicate copies as you need at virtually no cost.
The time needed to distribute your products to your customers is also next to zero. Finally, the cost of shipping or delivery is often non-existent in the online business world. This obviously makes it a highly lucrative business.
2. Become an Affiliate
You can decide to sell products created by others if for any reason, you can’t create your own product. Your only task will be to create good adverts and creating effective adverts is not easy.
This is especially true in such a business as competitive as affiliate marketing. You must understand that it requires discipline and patience to learn how the super affiliates succeed. Only then can the time spent on the venture be worth it in these online businesses.
Some major players in affiliate marketing make tens of thousands in a month from only this business. So many companies need you to promote their businesses.
This is just one out of the numerous reasons why so many new affiliates never gain ground in these online businesses. The question now is how does one know which of the companies are trustworthy and which of them are not?
Seek Online Businesses That Pay High Commissions
The answer is simple. Attach yourself with the firms that pay higher commissions like 50% to 75% on every sale. Also, consider the companies that have higher conversion ratios.
For example, if a company pays you a commission of 65% to sell their commodity and for every 100 persons that lay eyes on the product 2-3 buys it, then you should consider staying with such company and promoting the products.
You must also expect to receive a minimum of $20 on every sale. Personally, I wouldn’t advertise a commodity I cannot get a minimum of $20 on every sale. It’s simple logic in these online businesses.
Let’s say you receive a payment of $25 for a sale. Your advertising cost is $5 per 100 people. If the average is 2 out of 100 people purchase the item, then you can expect a huge return on your investments.
Don’t get me wrong, these figures are hypothetical. In the real world, things may turn out to be a little bit different. Locating these products will not be so easy, but that’s basically the concept behind starting up an affiliate business.
3. Sell Advertising Space
This is also a good idea. The basic tool you will need is a website that attracts a lot of traffic in these online businesses. You can get very high quantity yet cheap traffic from auto surf software and other sources. You may decide to deceive some advertisers but most won’t continue with you after their first test.
That’s why it is advisable to get it right from the very start in these online businesses. This business is surely profitable but you need a reasonable amount of quality traffic every day. You can achieve this by offering quality content on your website alongside other places.
An example is that you can publish articles on e-zines or article banks. You can also offer an e-book free of charge to your visitors on your website home page. You can choose to write reviews for programs.
A Forum Will Attract Visitors
One may also take one step further to create an avenue for their visitors to interact with each other. It could be in form of a forum on your website.
Any move that can potentially provide services or that can enhance your visitors’ experience can be an efficient source of your traffic. An advantage is that most of the visitors will love to come back and visit your site at intervals. These techniques are free in these online businesses.
You must also understand that as long as your website offers good content to your visitors, you will not need to pay anybody to get visitors. They will come to you on their own.
4. Online Auctions
Online auctions can be an efficient source of income in these online businesses. You can truly sell most anything on these auctions. Who will say he/she hasn’t heard of e-Bay? Virtually everyone in civilization knows about it.
The basic concept is to get the best possible quality for the cheapest possible prices. This can be achieved by building a good working relationship with the best wholesalers in the field where you are trying to sell.
You can succeed in buying below the wholesale price. You can also retail those items you definitely will realize a handsome monthly profit just by doing that alone in these online businesses.
Some individuals earn their living majorly through online auctions. They make as much as hundreds of thousands of dollars in a year. Another method of making money through online auctions is to be what we call a ‘dropshipper’, which I have discussed below.
5. Be a Dropshipper
Being a dropshipper means you don’t have to buy the products in order to sell the product. This eradicates the major risk factor. All you have to do is make a presentation for the products either on online auctions sites or your own site. Then you wait for someone to purchase the products.
Once the payment is made by the customer, you transfer the order to the initial distributor who will package and send the commodity to the buyer. Then you receive a percentage of the sale price in these online businesses.
Some people prefer this because in the process of carrying out the transaction, they don’t have to go through the rigors of handling the merchandise. Neither do they get involved with the clients yet they get reasonable profits from the business.
6. Multi-Level Marketing
When you become part of a multi-level marketing company, you can sell other people’s products like in affiliate marketing. You even have the luxury of recruiting workers to do the same in these online businesses. You will then get paid a percentage for every sale that is made by your sales team.
The fascinating thing is that you can do all these over the Internet without having to make personal contact with people. The beauty of this kind of business is the residual revenue that it generates for you. If your sales team is properly trained, they carry out the same process with their own sales teams thereby multiplying your profits over time.
I know this sounds like a pyramid but it isn’t. The credible multi-level companies will not charge you to become a part of their program. They are more interested in your advertising skills and not your money in these online businesses.
Pyramids make people pay a large amount to join their program. Then the only way for you to make money is to bring in more people into the scheme.
Even without investing any capital on the company, with multi-level marketing you can make money in these online businesses. Your means of making money is to sell their products as well as train others to do the same.
Remember that you did not pay to join the scheme so people trained by you don’t have to pay anything to join either. They are not investors, they are just sales personnel in these online businesses.
7. Start a Consultancy Business
If you are well skilled or knowledgeable in a particular topic, you may decide to start up a consultancy business online and educate others. You can offer your technical know-how and advice for a price in these online businesses.
Anyone can run this business directly from their website. You can also use your website as a tool for advertising. Furthermore, you can then refer your visitors to some other media you use to run your consultancy business. For example; your telephone or any seminar that you organized for them that they can attend.
8. Start an Affiliates Network Company
When you start up an affiliate network company, you will serve as the middle man between the affiliates and the merchants. You may also decide to offer merchants a payment processing system in these online businesses. You can then let them use that as a tool to collect payments from customers.
Your main function is not to create products nor advertise them. Your job is majorly to serve like a bank. The merchant joins your firm to use your services to sell his/her products and services in these online businesses.
They do this also to reach affiliates. The affiliates that have joined in to be able to sell these products on the program and get commission. The merchants give the commissions they wish to and then take care of the customers.
The Affiliate Process In Online Businesses
You serve as the middle man by collecting the payments from the merchants’ clients in these online businesses. Then send the payments to the merchants and affiliates within a time frame already agreed upon. You then charge a fee for your role in the business.
That is the basic concept behind these kind of online businesses. Again, like I said earlier, these things are not always this straight forward and easy in real life.
You will face stiff competition in these online businesses, but the advantage is that you don’t have to create the products neither do you have to advertise them. You only have to act like a bank and intermediary between merchants and affiliates.
9. Become an e-Books Wholesaler
You can also buy e-books in wholesale quantities and retail them on the Internet. An e-book may cost you a few dollars but you can sell them again and again.
Some authors write e-books and after writing, they give out resale rights on the books. This implies that you can resell the books in these online businesses. Your clients can also sell them to their own clients and on and on.
Some authors prefer this because they need to create maximum exposure for other commodities that they sell. They also do this for the affiliate links which they have included within these e-books.
Then you can obtain a package of these e-books and software with the master resale rights and sell it to others. This way you don’t need to make your own products in these online businesses. You only have to invest a little once and make profits many times over.
10. Sell Hosting and Memberships
This type of business provides residual income for you. Selling hosting basically means you are selling a space on a server to webmasters. This is a good source of income because most webmasters remain subscribed to the same hosting company for several months or even years.
They are made to pay a monthly subscription fee in these online businesses. As long as they are subscribed you keep getting profits. The same thing happens with membership websites like dating sites.
You don’t need to have many subscribers for it to be profitable. The business is different from other businesses for the following reasons I’ll explain below.
If you are the author of an e-book and you try to sell it to people, you can only sell that e-book once to a particular customer. Then in reality, your customer might never come across your path again or talk more of purchasing anything else from you. So if you sell the membership to someone, that person will keep giving you money at intervals in these online businesses. The same product is sold to the same person repeatedly.
This provides residual revenue in which your profit grows exponentially over time. Let’s assume you have 1,000 subscribers and each of them pays an average of $5 per month for subscription. If you don’t get further subscriptions, you will still get on average $5,000 in the subsequent months in these online businesses.
On the other hand, when you are into sales of single sale products in online businesses, you need to get new clients to sell them to every month if you wish to keep receiving the same amount of profits monthly.
That is the reason residual income is important in online businesses. Web hosting or paid subscription businesses offer a great opportunity to obtain monthly residual income.
I hope these tips on 10 online businesses that you can start fast will help you in your search for what will work great for you. Best of luck for your success!