Making money online used to be a lot harder than it is now. That’s because there are more opportunities to turn a decent buck online and it usually doesn’t require a genius to put them into action.
What are we talking about? Only some of the most popular online businesses today and that is not all.
In this article, we’ll tell you what online businesses are making money – and how you can see your dreams of entrepreneurial success blossom in 2020.
The Best Online Business Ideas to Start in 2020
Here are our top 10 best online business ideas to help you make more money in 2020:
1. Streaming Influencer
Whether it is Twitch or Instagram or YouTube, becoming an influencer can leverage your passion for your hobby or field into a full-fledged career in which you become both a symbol of your niche as well as a minor celebrity.
The numerous examples of people meeting entrepreneurial success in this area is staggering and it is considered by many to be the future of marketing. It requires a bit of knowledge plus charisma but, other than that, is as simple as could be.
2. Chatbot Business
One of the biggest developments in ecommerce in the past decade is the rise of chatbots. These pieces of complex software are made to simulate interacting with an actual human during customer service inquiries.
As you can imagine, companies have made extensive and effective use of chatbots to help sell their products and grow their online presence.
Platforms like Many Chat make it a lot easier for the average person to make use of chatbots and the cost effectiveness of using them to push product tends to reveal itself within the first sales cycle.
3. Box Subscription Business
A box subscription business typically involves sending subscribers a monthly box of goods in exchange for a subscription fee.
The goal is to keep the fee higher than the box’s cost but also to keep the contents of the box good in order to maintain subscribers.
One of the fastest growing business models out there, the subscription model is found in everything from content to software as a service.
Logistically speaking, a box subscription service could be a lot of work but it is also hugely rewarding. If you have a niche that you have mastered and can provide your fans with regular, quality content then this might be the path for you.
4. Ad Management
Managing online ad campaigns for businesses tends to be complex. This is why these businesses often hire local experts to help them craft and execute and online marketing campaign. Though it might be complex to your clients, once you have mastered online ad management it will become extremely lucrative for you.
While it requires some mastery before you plunge head first into this world, learning how to manage online ads is often as simple as taking service provider tutorial courses and free classes online from gurus who know what they’re talking about.
Like ad management, SEO is something that the budding entrepreneur can learn, master, and then sell those skills to websites and firms in need of their expertise.
SEO, also known as search engine optimization, involves doing the research and often technical work of setting up a website for success in online search.
This involves finding the phrases that a niche’s customers use to find those products and leveraging the combined content plus optimized campaign to draw in more and more people to sell a product or service to them.
6. Vacation Rentals
We’re talking about AirBNB and the like. If you own a property and are near a desirable tourist location, renting out your home or helping others to rent out their space is not only smart but extremely profitable if handled well.
Of course, this is a business like any other and, like any business, it is going to require some hard work on your part but it makes use of existing assets that you or a client already has.
The goal is to find the right people to put in the vacation rentals so that you can keep it rented out through consecutive weekends or week nights without having to deal with a lot of cleanup and problems.
7. Book Publishing
Online book publishing is easier now than ever before. And if the consulting and webinar guru lifestyles don’t appeal to you, don’t worry: You can put it all in a book.
The best part about selling books on what you know (or even on your own fiction) is that the books do a lot of the work for you at a point.
While you’re asleep, they’re selling online. The key is to find out how to combine what you know with what people want in an ebook and, once you do, making it work in the marketplace.
If you have a particular area of expertise, you might want to try teaching it in a webinar. Webinars are not only one of the fastest growing ways that people are using to learn new skills but also they’re very profitable for the presenter.
Depending on the kind of value you are offering your students, you could charge thousands or even tens of thousands of dollars. Be warned, though: If you don’t know your stuff and you overcharge people, your reputation will proceed you.
This is one area where it might be wise to go small and then grow rather than come roaring out of the gates. But if you’re a well known figure in your field, it makes absolute sense to pursue this on day one. This is a good online business to start in 2020.
9. Business Coaching
Think of business coaching like life coaching but for a business.
What you’re doing here is leveraging your expertise in the cause of assisting a young entrepreneur make sense of it all.
This can involve everything from setting up a business plan and budget to executing on a strategy and finding customers.
If you have vast experience in setting up and running businesses, there are tons of entrepreneurs out there that will want to make use of your skills – and today.
Like business coaching but more specific, consulting involves leveraging an area-specific piece of knowledge and helping a business or individual to thrive based upon that.
It could be anything from the above mentioned business expertise to SEO marketing consulting to setting up an influencer profile.
These best online business ideas can make you rich if you invest and handle the business properly. But, if you are looking for online business ideas to working from home, you can start a blog with low investment.