8 Online Business Ideas That Could Make You Hit Gold in 2020

What Kind Of Online Business Is Most Profitable?

• The digital boom has opened up a treasure trove of online business ideas.
• It has been the biggest disruption that has impacted human life in every way possible.
• And the best among them have been the myriads of earning avenues it has opened for people irrespective of their geographies or academic achievements.
• Digital media has made it possible to convert hobbies and journaling habits into business opportunities.
• It has made it possible to communicate faster and with a larger ambit of people with very little effort.
• A single scroll of the social media page brings out a new brand, product, or service.
• And there is a substantial chunk of the revenue that these brands are earning through these social media platforms as well.
• It is a fact that online platforms help to drive business.
• And gradually, the online platform is also taking the center stage as a marketplace.
• More and more businesses are realising its worth as an asset-light business platform.

Online Business Ideas You Can Start Quickly

Here are some of the online business ideas that are changing the entire work culture and business trajectory:

Start A Blog

1. What started as some kinda digital journaling eventually converted into a knowledge-sharing platform, Blogging soon emerged as a profitable business proposition.
2. It came at a time when hosting a website needed you to shell out a good amount of money.
3. Blogging offered both free as well as paid platforms for posting content online.
4. Gradually, it developed into a potent money churner.

What Business Potential Does Blogging Hold?

• Blogging is one of the best online business ideas to start with if you are a newbie at digital media.
• It is a very important tool for promoting your existing business.
• It could also be a potent side hassle for a working professional or an academician.
• And as an independent business, blogging can be immensely profitable if executed strategically using the relevant digital marketing tools.

What Does It Take To Start A Blog?

1. Choose your niche. Make sure you are truly passionate about it.
2. Read and research very well other blogs based on the same niche
3. Select a unique name for your blog
4. Get a web hosting
5. Install blogging software such as WordPress
6. Pick a theme to design your blog
7. Customize your blog
8. Use Search Engine Optimisation for your blog
9. And get, set, create magic with words.

Start A YouTube Channel

• Youtube videos can indeed be addictive.
• You click on one link and get glued to it for hours.
• On one such occasion, I chanced upon a video on how to improve your productivity where the YouTuber said these golden words - “When you end up spending so many hours online, how about finding out a way to generate income out of it.”
• And if you are looking for online business ideas from home, what could be better than starting a YouTube channel?
• And in the past decade, YouTube has proved to be a goldmine for many people.
• Even homemakers who started making and posting videos out of fun started making an obscene amount of money that dramatically changed the course of their lives.

What It Takes To Start A YouTube Channel?

All it takes to start a YouTube channel is to have a Google account on your name or your brand’s name.

How to run a Profitable YouTube Channel?

1. Make a schedule for posting videos and stick to it.
2. If possible post more than one video every week.
3. Be consistent about posting your videos.
4. Streamline your production workflow
5. Make your content crisp and attention-grabbing. Keep the title short and to the point.
6. Design interesting thumbnails that grab the eyeballs
7. Use the end screen to promote more of your videos, social media pages, and/or websites.

Start An Ecommerce Website

• One of the many ways online platforms have been the choicest boon for businesses as well as customers is that it has created a virtual marketplace.
• This has enabled several businesses to reach out to a vast customer base.
• Ever the customers can make an informed purchasing decision after meticulously reading the product details and reviews posted by other customers.
• This helps the business owner to have an asset-light business model where he does not have to invest in real estate, shop-fitting, display, etc.
• All it takes is a good warehouse to stock the product and adept logistics to get started.
• Design your website beautifully as you would lay out your brick and mortar retail store.
• Absolute transparency, adherence to the cyber law, authentic information of the product, and adept customer care will make sure that your e-commerce website flourishes in a very short period.

Affiliate Marketing

1. Affiliate marketing is one of the best online business ideas for beginners and also pretty much hassle-free.
2. It is all about doing product promotions and earning commission out of it.
3. You can do it through your blog, YouTube channel, or social media pages.
4. It is as simple as recommending products to your friends and followers.
5. One of the easiest online business ideas without investment, affiliate commission in India can go up to 80%.
6. By far, blogging has been the most successful approach to affiliate marketing.
7. Some of the best e-commerce websites in India offer a very good conversion rate. Amazon, Flipkart, eBay, Make My Trip – are a few known names in this ambit.

Online Knowledge Sharing/Coaching

• Had it not been for the COVID 19 pandemic, we could have never woken up to the fact that online learning could also be so effective.
• Also, the last few years had seen a lot of applications and websites offering academic and professional courses.
• But somehow, there was some kind of a pullback factor that stopped people to count on online classes completely.
• It took access to real classrooms to be completely denied to realise how fulfilling and enriching online classes can be.
• You can start your online class from any of your social media pages, through cloud meeting apps or WhatsApp.
• All you need is a computer, laptop, or a mobile phone with a stable internet connection.

Online Consultancy

1. The work culture has gone through a sea change.
2. Remote working, freelancing, and online consultancies are gradually taking a centre stage.
3. Online consultancy can truly help you mint money through various freelancing platforms that hire individual professionals as well as agencies for various services.
4. Starting from photography to graphic designing to financial advice to content marketing and a lot more.
5. To start an online consultancy business, you need to register into the freelancing platforms, complete your profile, and share your portfolio.
6. You can connect with potential clients through these platforms and start working.

Start A Podcast

• The podcast is a comparatively new business idea that is picking up very fast.
• After Blogging and running a YouTube Channel, one thing that is pulling the attention of the online content marketers is starting a podcast.
• The prerequisite for this is to have a good grip on giving voice over and audio editing.
• Your voice is the hero of your podcast.
• So if you have a good voice or you can hire someone with excellent voice and oratory skills, you could go ahead with this idea.

Become A Social Media Influencer

1. Do you want to become a Social Media Influencer?
2. Indisputably, it is a brilliant online business idea.
3. However, it comes with a lot of responsibility. Being an influencer means you are motivating or driving the users towards something.
4. Hence, make sure the purpose behind your venture is beyond monetary gains.
5. The purpose has to compel enough and a do-gooder as well.
6. This essentially does not mean some charity-driven purpose, it could cater to commercial categories as well.
7. But make sure to check the credibility of the brands you endorse.
8. All it takes to become a social media influencer is to pick a niche and start talking about it on all your social media pages, blogs, YouTube channels, and Podcasts.

And with that, we come to the end of our article. Let us know what you think about the ideas we have discussed here. Please share your opinion in the comments below.

Also read:
Businesses that boomed Globally this Pandemic
Eco-Friendly Business Ideas for Small Business Owners
Top-5 businesses to start under Rs. 10000
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