Being the owner of a small business can be challenging. Over 42 percent of the businesses that fail cite the lack of a market for their product or service as the cause. This is why doing lots of research before starting a new business venture is so important.
If you are looking for a way to start a business with minimum overhead, starting an online business is a good idea. With all of the online business ideas for beginners, choosing the right one will require you to do your homework.
The following are some online business ideas for 2020 that can be lucrative when done correctly.
Become an SEO Consultant
One of the most consistent entry you will find on top ten online businesses list is an SEO consultant. Modern business owners understand just how important creating an online presence is. Most business owners don’t have the time or the skill to drive traffic to their website. This is why they seek out the help of experienced and reputable SEO consultants.
Having success as an SEO consultant will require you to stay up to date on things like changes with Google algorithms and trends in the world of content marketing. If you are looking for more information about how to develop a comprehensive marketing strategy for new clients, then check out this SEO strategy guide by Coforge.
Take on Some Freelance Design Work
Freelance design work is perhaps the best online business to start with no money. Most web and graphic designers already have the tools they need to perform this job. The key to having success as a freelance designer is building an impressive portfolio of work. In some instances, you may have to offer free design help to get a few pieces in your portfolio.
Once you have a portfolio you are proud of, marketing your services online is vital. Using your own website and social media can be helpful when attempting to generate a buzz. As you get more experience under your belt, landing quality clients will become a lot easier. By focusing on meeting and exceeding client expectations, you can easily develop a great reputation in the designer community.
Business Coaching can Be Lucrative
There are over 28 million small businesses in the United States. Some of the owners of these businesses will seek out help from time to time to help them stay on track. When making big changes to a company, having a business coach there to offer guidance is important.
If you have lots of experience in the world of business ownership and management, becoming a coach is a good idea. The best way to attract clients is by providing them with social proof that verifies your claims of being a great business coach.
The easiest method to use for this proof is positive client reviews. Putting these reviews on the homepage of your website is essential when trying to create a sense of trust with consumers.
Offer Tutoring Services
While learning comes fairly easy to some, there are people who need a bit of extra help to make it through high school and college. If you are one of the people who find learning easy, offering tutoring services to struggling students is a good idea.
Most of the tutoring sessions can be done online with the help of video chatting software. This means you can seek out clients from all over the world, which can help you make a better living with your online business.
Creating an Online Store is a Good Idea
In the past decade, more and more consumers have made a switch from brick and mortar retailers to online stores. For modern consumers, using an online store is mostly about the convenience and the low prices they can offer. If you are looking for a lucrative and affordable way to make a living online, then creating an online store is a great idea.
The first thing you have to figure out before creating an online store is what products you want to sell and where you will get them. Luckily, there are a number of wholesalers based in the United States and abroad. These wholesalers can provide you quality products for a reasonable price.
After you find the right products and wholesaler, focus on optimizing your website for search engine success. When trying to drive traffic to the online store, you need to use the right keywords in your product listings. Without relevant keywords, you will have a hard time attraction attention from consumers and search engines. Working with a marketing agency who has previous experience with optimizing online stores.
Learn To Be Patient
A successful online business is not something you build overnight. While achieving your business goals may take time, it is well worth the effort you invest.