Where Investment Money In 2020
1. BEST ONLINE BUSINESS IDEA: START A PROFITABLE BLOG.
When you start an online business, you’re most likely selling one of three things:
- Your time (coaching or consulting).
- Your own products (ecommerce or SaaS).
- Someone else’s products (affiliate marketing or ads).
First, you need to reject common blogging advice and learn how to blog like a business from day one.
A lot of common advice from successful bloggers (who all started 5-10 years ago mind you) is to “write about your passions” so that you can make a decent side income within a few years.
I never liked this generic advice. I always felt that it was written to appeal to the widest possible audience and it never gave tactical step-by-step guidance on how to grow from zero.
The entire reason I started this blog in 2019 was to prove that most blogging advice is outdated and you absolutely can make life-changing money in months, not years.
You just need to scale and treat it like a business.
If you’re interested in learning how to start a blog and follow the exact formula that made me over $200k year one and pacing to seven-figures year two, check out my ultimate guide to starting a blog:
2. ONLINE COURSES AND COACHING.
It has become easier to share your knowledge or expertise via online course platforms. If you are a subject matter expert or passionate about something, then you can convert it into a substantial income.
Offer online coaching classes to students, build a community to help while building your online coaching business. You can set up a Facebook page or even a podcast where you can reach out to people looking for online coaching classes.
There are also several online platforms, including Thinkific and Teachable, to help you get started quickly. You can register on these platforms and start coaching right away.
You can get started today with a One-Month Free Trial of the Thinkific Pro Plan with my link below.
3. DROPSHIPPING.
If you have the ability to procure products in demand at lower prices, then you can start a lucrative dropshipping business by reselling those products at third-party sites like eBay or AliExpress. Dropshipping is a concept in which sellers procure products in bulk from suppliers and sell them further to the end-user.
Here’s a perfect breakdown of how dropshipping works:
For dropshipping business ideas, you need to do extensive market research and identify critical products in high demand and can be procured easily at discounted prices. Check high-selling products on the leading ecommerce website, including Amazon, to gauge the current trend.
Learn more about dropshipping by taking an online course or by reading my ultimate guide to dropshipping.
I recommend you get started dropshipping with a free 14-day trial with Shopify.
4. GRAPHIC DESIGN.
Companies are always on a lookout for graphic designers for branding purposes.
From designing marketing collaterals, including banners, posters, and logos to creating stunning designs of landing pages, the opportunities here are immense.
You can pitch your design skills to small business owners or individuals to start your gig. Graphic designers can also join freelance websites like Flexjobs to find relevant work.
If you have prior knowledge of this field, then getting clients would be helpful. However, learning the basics of graphic design from scratch is pretty easy, with a vast number of online courses.
You can leverage graphic design software like Adobe InDesign to learn the foundation of graphic design.
Alternatively, you can use other user-friendly online tools like Visme to hone your graphic design skills further.
5. WEB DEVELOPMENT.
There are over 4 billion internet users in the world. And to cater to this massive online population, 6 out of 10 small businesses have a website. This is why web development is a valuable skill to cater to the surging demand for launching and upgrading websites.
Start by developing websites for your friends and family to polish your skills. New businesses are always looking for efficient coders at cost-effective prices. You can kickstart your career by offering competitive prices for your services and then slowly transform it into a more lucrative business plan by solidifying your portfolio.
Every web developer must have basic coding skills in computer languages like CSS, HTML, JavaScript, and Java. There are several free or cheap online courses including Treehouse, the Web Developer Bootcamp on Udemy and Codecademy that can help you learn to code and get started with web development.
6. INSTAGRAM INFLUENCER.
With the rise of social media channels like Instagram, now consumers are increasingly turning to niche influencers to get advice on a product they are looking to purchase.
This is what being an Instagram Influencers is all about.
The term evokes images of promoting energy drinks and raving about skincare products.
Kylie Jenner, anyone?
But it’s much more than that.
First, you have to choose your niche. It can be anything, from tech to beauty to health. Make sure to select the domain area you are passionate about and are well versed with.
Next, you have to build a solid Instagram following by posting interesting stuff about your life and talk about things that are relevant to your target audience.
Once you build a healthy following, brands and affiliate marketers will contact you automatically for collaborations with handsome pay-outs.
People with the right marketing skills, know-how, and thousands of Instagram followers can earn anything from $500 to $6000 per post. Even if it can publish 3-4 posts a week, it becomes an extremely profitable business.
You can check out this course on Udemy to learn a ton about Instagram marketing.
7. PHONE CASE BUSINESS.
There are more than 2.5 billion smartphone users in the world, and the number is increasing every day.
8. AFFILIATE MARKETING.
Affiliate marketing.
It’s been a buzzword in the marketing arena for quite some time.
When someone asks how to make passive money online, a lot of people automatically envision affiliate marketing. Brands that want to sell products online create new affiliate programs and allow affiliates (publishers and bloggers) to promote their products and earn commissions.
According to one blog income report study, bloggers making between $7500 — $25k per month make 38% of their income from affiliate marketing.
9. VIRTUAL ASSISTANT.
You can use your excellent organizational skills to create an extra stream of income. Virtual assistants are in high demand by corporations, freelancers, and every kind of business.
It is also an excellent opportunity to know successful and influential people from different fields of work to build a vast professional network. At the same time, it also provides you the opportunity to work from anywhere in the world while developing your professional skills.
People are always looking for efficient Virtual Assistants on freelance job websites like
Flexjobs.
10. SOCIAL MEDIA MANAGER
Billions of people are on social media, and businesses are spending millions to reach their target audience through various social media platforms. If you are glued to social channels and understand how the eco-systems work, then you can put your knowledge to good use and start your own social media marketing business.
Small businesses, start-ups, and influencers with massive social media presence are always looking for capable social media managers to help them grow their social media presence. You can pitch for social media account management and help businesses run paid ad campaigns on Facebook, Twitter, and other channels.
Websites, including Flexjobs, CareerBuilder, and Fiverr offer a lot of jobs related to social media management.
Disclaimer: Please note that some of the links in this article are affiliate links, which provide me a small commission at no cost to you. These are merely good business tools to use in tandem with these home business ideas. You can read my affiliate disclosure in my privacy policy in the footer.
11. TRAVEL CONSULTANT.
If traveling is your passion and you are always updated about things like best airplane ticket options and hotel deals, then you fit the bill.
You can start by helping your family and friends, securing the best travel deals. It will help you earn free word of mouth publicity and kickstart the growth of your freelance travel consulting business.
Create pages on platforms like Instagram, Facebook, LinkedIn, and WhatsApp to promote your business and connect with people who want to leverage great deals. When you develop a solid follower base, you can also collaborate with travel agencies to cut exclusive deals for your customers.
To make it a full-time career, you can also consider earning a certification in travel consulting.
12. INTERIOR DESIGNER.
13. WEDDING PHOTOGRAPHER.
Wedding photography has become grander and fetches handsome pay per project. Professional wedding photographers can charge anything between $2500 – $10,000 and even more for each photoshoot.
At the start, you can build your clientele by searching online and registering on aggregators, including MyWed, to find the business. You can also reach out to potential clients through Facebook and Instagram.
To hone your skills, you can either take online wedding photography classes or learn by reading this detailed guide. Here is the list of wedding photography gear you would need to start your wedding photography business.
14. WORDPRESS WEBSITE CONSULTANT.
WordPress is the go-to platform for small businesses and budding bloggers to start a website of their own. If you are well versed in how to set up a WordPress blog, then people can pay you hundreds of dollars for your skills.
Apart from WordPress consulting, you can also offer digital marketing services to your clients to diversify your revenue stream. It will help your clients bring relevant traffic to their website.
If you build a successful business as a WordPress website consultant, you can even transform your business into a full-fledged digital marketing agency.
You can learn more about building websites on WordPress through courses on Skillshare.
15. DEVELOP AN APP.
There is an app for anything and everything – and they are making thousands of dollars. Bet you won’t be able to find a niche for which there is no app built yet.
The best part is that you don’t have to worry if your coding skills are good or not. Head to this course to learn about how you can build apps with little or no coding skills. But before implementing it, do some market research about the competition, revenue model, and feasibility of the app.
Look at some of the successful apps, including Instagram and Snapchat; all were built for a specific target audience and are now worth billions.
16. BUY AND SELL DOMAIN NAMES.
Trading of domains is an old tactic to make some extra money. But if you get lucky, then you can earn millions. The domain name Insure.com was bought for $16 million in 2009.
The key is to identify interesting blog names that have the potential to sell later. Buy them with cheap hosting plans and wait until a buyer approaches you. Building a desirable domain portfolio could take years. Keep researching and be patient.
However, the long term viability of this business is debatable. Hence, it is better not to go full time with this idea. This Investopedia article explains in detail about domain trading.
17. FREELANCE CONTENT WRITING.
Content writers are in huge demand, especially for digital marketing purposes. If you have a knack for crafting engaging stories and writing articles, then you can turn your skills into a lucrative freelance writing business.
From website copy to blog posts and email newsletters, you can write content for a variety of things. Experienced freelancers earn anything between $1000 to $5000 in a week. You can also take up editing and proofreading work to help clients upload error-free work.
Freelance content writing offers you the opportunity to earn from any location. Check out my article on freelance writing jobs to polish your skills further.
If you are starting out, you can find work on websites like:
18. DATA ANALYSIS.
Businesses are becoming data-driven to make more informed decisions. Talented data analysts, who can make sense of heaps of data and bring actionable insights on the table, are in high demand. If you are great with numbers and have sufficient technical knowledge, then this is the job you would love.
The data analyst industry also offers lucrative pay for full-time jobs as well. An average data analyst earns around $60,000 per year.
You can learn more about data analysis by taking online courses from edX and Coursera. Once you build your data analytical prowess, you can search for both remote data analysis jobs on platforms like Flexjobs
21. PERSONAL TRAINER OR WELLNESS COACH.
Personal fitness trainers are in high demand. If you are into fitness and know the technicalities of workout and diet plan, then you can make some extra money by helping people become fit.
Once you find the right clients and build a stellar reputation, the job is both physically and financially beneficial. Aside, you can also learn online about fitness diets to add more value to your service.
There’s also an option of starting your own fitness blog to share your fitness tips with a wider audience and position yourself as an authority in the business.
Strive to learn more about fitness training and earn a certification to add more credibility to your profession. You can also opt to become a wellness or mental health coach land offer continuing education credits like Core Wellness.
22. CREATE A YOUTUBE CHANNEL.
Several YouTubers are making thousands of dollars by vlogging about their passion, skills, travel, food, reviews, and stand-up comedy videos, among others.
Pick a niche you are passionate about and have sufficient knowledge to create engaging and unique videos. The more entertaining content you post, the more views and subscribers you will gain.
Several successful YouTubers earn millions by posting videos. However, an average YouTube earns around $3 to $5 per 1000 views.
Before starting your YouTube channel, learn about YouTube guidelines and how to use its tools. Also, invest in a good camera and microphone to make quality videos for greater earning potential.
24. TOUR GUIDE.
If you are living in a tourist hotspot and love interacting with new people, then you can easily become a tour guide. However, you also need to have extensive knowledge of your surroundings along with its history and culture.
You can launch your own tour guide company to help tourists get the best experience during their travel. On top of that, you can offer a little something extra by arranging vintage vehicles or unique local food for the travelers to stand apart from other travel agencies.
Tour guides also earn handsome tips if they delight their clients with their services. Read this detailed article to find out the qualities you need in a tour guide.
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