Do You want to start a new Business in 2021? In this post, I will Suggest You 20 Most Profitable Online Business Ideas. Some have very high hidden costs, while others require personal effort and dedication that increases exponentially over time. And when this was not planned, it can spell the end of any project.
But, as you will see in this article, there are also extremely profitable online businesses that you can start with very little prior knowledge and resources. You just need a good strategy and make the right decisions.
To this day I have created businesses of all kinds. With some, I feel fulfilled and others are simple systems with which I obtain passive income without spending too much time on them.
And it is that surely neither you nor I will invent the next multi-million dollar social network or application, but it is not necessary either. There are countless opportunities within our reach to build a business that allows us to live happily, without physical or economic ties.
The most coveted online business model
There are two types of online business: those that operate on autopilot and those that require constant dedication.
Logically, the most coveted are the first, those that can become an automatic passive income capable of growing without requiring more time or money.
This type of business must meet 3 golden rules :
- Solve an existing need. Many online businesses fail because they are guided by an “intuition” of their creator, instead of satisfying a real demand from their target audience. That is why it is essential that you first validate your idea, no matter how innovative it may seem.
- Operate autonomously. A passive online business must be able to generate money without your intervention is necessary. For that, you need to automate the processes.
- Be scalable. This means that you should be able to increase your billing without increasing costs proportionally. Otherwise, the more money you make, the more expenses you will have.
Next, I will show you the most profitable and easy to start models today with the potential to generate passive income, and the results that I have achieved with several of them.
PS: at the end of the article you will also find a practical guide to choose the most suitable business model for you.
- How to Set and Achieve your Business Goals in 2020
- How to Become a Distributor? See the explanation in just 7 steps.
20 profitable online businesses you can start today
I started creating an online business while working in a multinational pharmaceutical company. The economic crisis that began with the Great Recession had completely slowed my career progression, so without any knowledge of digital marketing, I started looking for alternative ways to generate income.
Three years later, I was already living exclusively on my Internet businesses, earning thousands of dollars per month without having made practically any investment. Here are the 20 Most Profitable Online Business Ideas to start in 2021.
Start Affiliate Marketing
Affiliate marketing without a doubt, one of my favorite online business modalities for its ability to become a recurring passive income. With it, I have come to earn more than 7,000 dollars in a month without dedicating more than a couple of hours.
Many entrepreneurs who want to enjoy greater freedom choose this online business model. Although you will have to invest a lot of time at first, in the long term it can turn into a totally passive income. In fact, it is not uncommon for people who succeed in this way to end up leaving their job to travel the world.
Affiliate marketing basically consists of creating a web page where you recommend certain products through affiliate links. When someone clicks on those links, they are redirected to the website where the product is sold, and if they buy it, the seller gives you a commission.
Some sellers, like Amazon, have their own affiliate programs, while others are on platforms.
Commissions can vary a lot depending on the type of product and seller. For products such as online courses, the commissions are around 30-50%, while for electronics products they are usually around 5%.
These are Amazon’s commissions according to the category of the product sold:
The great advantage of Amazon is that it is a vending machine. And you will not only charge commissions for the product you have recommended but for everything that customer buys for 24 hours!
The key to this business model is to attract visits to the website or blog where you recommend the products. For this, you must generate attractive content and use a good online positioning strategy.
- Fully automatic passive income generation system: you do not have to manage stock or make shipments
- Does not require any investment
- Very simple and easy to implement, even for inexperienced people
- It can be integrated into your blog if you already have one
- Commissions for best-selling products are usually low
- The opportunity is now and there is more and more competition
Monetize Your Personal Blog
Creating a blog and positioning yourself as an expert on a specific topic is one of the most sustainable ways to build a long-term online business.
Do not think of a blog as a personal diary where you can write what comes to mind at all times. That hardly has any economic potential. A blog is a place where you offer the public your knowledge on a specific topic for free.
Luckily or unfortunately, most people don’t dare to start a blog. You think you have nothing to contribute, you fear that you will not meet your expectations, or you worry that readers will accuse you of being an impostor.
But those beliefs only exist in your mind. All bloggers have started with those fears; The key is to choose something that you are moderately good at because there will ALWAYS be someone who knows less than you and wants to learn.
Also, as you work on your blog, you will adjust its focus according to what your audience really values about you and finds interesting.
Another key to success is to specialize because blogs that are too general do not tend to stand out in anything or be able to create a loyal audience. Some specialized ideas for a blog could be:
- Practical tips to travel cheaper
- Productivity to organize tasks at work
- Emotional intelligence training for parents with children
- Keys to improving public presentations
If you satisfy the need of your audience and make yourself visible in the blogosphere, you will start to receive more and more interested visitors. From there, you just have to choose how to monetize your blog.
Here are the four most popular ones, but if you want to know all the ways to make money with a blog.
- What is a Blog and How to Earn Money with Blogging in 2020
- What is email marketing, and what is it for?
Earn With Google AdSense
Google Adsense is Google’s advertising network and includes thousands of potential advertisers. It is a type of PPC (Pay Per Click) advertising, which means that every time a reader clicks on an ad on your blog, you receive money.
Implementing it is as simple as registering here and putting the code it provides on your website. Then the system will take care of displaying the most relevant ads for your readers.
Although it depends on the theme of your blog, as a general rule it is necessary to have enough visits on the blog to be able to generate a decent income. This is why I prefer other forms of monetization.
To give you an idea, the best-paid topics are executive training, finances, or health. Personal development or simply informative content is paid much less, as evidenced by the fact that with more than 300,000 visits per month my social intelligence website barely generates 90 dollars.
However, I also know entrepreneurs who bill more than 4,000 dollars a month with Adsense because they have chosen a well-paid topic, with high demand, and they have positioned well in search engines like Google.
- Very easy to implement
- Show the most relevant ads to your audience to maximize revenue
- It is usually necessary to have many visits to earn money
Use Private Advertising
Private Advertising is the Another Business to Start in 2021. Adsense is not the only form of advertising out there. If you have a website on a specific topic, you can also contact companies in that sector to offer them advertising space in exchange for a monthly payment.
For example, if you have a travel website, you could contact travel agencies or private guides to advertise on your blog.
Advertisers usually pay per impression, that is, for the number of times readers have seen that ad-supported page. Therefore, the more traffic your blog has, the more money you can ask for it.
- It pays better than Adsense
- You will need a lot of traffic to be attractive to advertisers
- You must do the work of contacting advertisers
Create Digital Products
Creating a digital product on your blogs, such as a video course or an area with exclusive content, and selling it is one of the best ways to generate passive income.
The idea is to create this exclusive content, put them under a payment system, and present it to your readers. If you automate it with a sales funnel through email marketing or pre-recorded webinars, you will no longer have to deal with anything other than collecting revenue.
To give you an idea of the potential of this business model, when I launched my premium video course at habilidadsocial.com, during the first week I earned more than 8,000 dollars when to date I had only achieved 50 dollars a month with advertising.
Its potential is so great that, in the medium term, most successful blogs choose to become a digital business offering paid content in the form of video courses or private areas.
- With few clients, you can generate high income
- The process can be automated 100%
- You control all the stages of the sale
- Building the product and sales funnel is laborious
Start Your Own Service
Finally, if you have a blog and have built an audience, surely there will be those who are willing to pay for your advice in the form of coaching or group workshops.
This is one of the best ways to generate income quickly, and it usually pays off pretty well. However, you will be limited by the number of clients you can serve at the same time.
- A very fast way to start making money
- It is not scalable nor can it be automated
Publish a book
Until a few years ago, publishing a book was a pretty complicated undertaking.
You had to convince a publisher to take over and distribute it among bookstores, which caused many aspiring writers to leave their manuscript gathering dust in their home bookstores or on their computer’s hard drive.
But everything changed with the appearance of the electronic format. Today you only need to have a digital file with your book to publish your ebook on the vast majority of online book sale platforms.
If you want to self-publish it in physical format, still preferred by most readers, there are also several options:
- Contact a printer for a print run
- Work with a small publisher to help you distribute
- Use a print on demand service, where only the book is printed and shipped the moment someone places an order (thus you save the cost of printing a run and storing the stock)
If we talk about selling books, we have to talk about Amazon. The American multinational has a service called Kindle Direct Publishing that allows self-publishing of books in digital and print format on demand.
Selling self-published books on Amazon is a great way to generate passive income. Although it is difficult to get to live exclusively on it, almost half of the best-selling books on Amazon are self-published, and the margin for the author is around 70%.
I chose to publish my first book through a publishing house (Planeta). The margin is much lower than if I had done it on my own, but it is also true that the promotion is higher.
The best thing about publishing a book, either on your own or with a publisher, is that it becomes a recurring income. Once written, you don’t have to worry about anything else.
- It is an automatic passive income
- It has no associated costs
- You don’t need the experience to be successful, just the will and ability to write
- If you self-publish and have no followers or subscribers, it will cost you to achieve the first sales
- You must sell a lot of books to make a living from it
Become a Youtuber
With the rise of content in video format, the idea of creating an online business from a YouTube channel is no longer far-fetched.
YouTube is the second search engine on the Internet, only behind Google, and year after year it shows spectacular growth. Although there is increasing competition, it is still a relatively unspoiled territory.
If you consider that you can provide viewers with fun or knowledge, creating a YouTube channel is not far-fetched: in the medium term, you can make a living from it.
eye! This does not mean that it is simple. On average, YouTube advertising pays between 0.20 and 3 dollars for every 1,000 views of a video, a fairly low figure.
This number depends on the theme of your channel since, for example, the contents of higher education or health tend to pay better than the channels about video games, personal development, or curiosities.
If you wanted to earn 1,000 dollars per month and they paid you 1 dollar for every 1,000 views, you should have a million new views monthly. Assuming you upload four new videos per month, each of them should achieve 250,000 views.
Reaching this volume is quite difficult, but fortunately, there are other alternatives to increase income:
- Contact companies and offer to advertise them in your videos
- If your channel is popular, you can also sell custom merchandise, such as t-shirts and hats with the channel logo.
- You can accept donations or offer exclusive paid videos with Patreon
To stand out on YouTube, in addition to adding value to your target audience and printing your own stamp to your communication style, certain knowledge of video positioning is also usually necessary for your content to appear in top positions.
However, well worked, it is a channel of immense potential.
- YouTube and the video format are in full growth
- Even if you think not, there is still relatively little competition
- It is hardly necessary to invest (you only need a camera and microphone)
- The platform is not yours and you are subject to its changes in policies
- Creating a personal brand on video is more difficult than doing it in text
- Youtube does not pay too well (and less and less)
Create a podcast
In addition to videos, there are also contained in an audio format known as podcasts.
Podcasting is very popular in countries like the United States, where it is estimated that 21% of Americans have listened to a podcast in the last month. Little by little, this channel is also establishing itself in the rest of the countries.
In fact, there are already channels in English with thousands of followers such as Victor Martin’s The Success Academy, in which he interviewed me a while ago to talk about social intelligence (one of my great passions).
The podcasts are now a good opportunity as yet there is little competition, so creating a channel that addresses an unmet need has enough numbers to get a good audience.
To make money with a podcast there are several options:
- Sponsorships: if you have a community of followers and you deal with topics where there may be companies interested in advertising, you can get in touch with them to offer them the opportunity to sponsor you
- Create paid content: you can make some of your podcasts that can only be listened to after paying a small amount
- Recommending products: if you recommend services or programs in your podcasts, you can include their affiliate links in the description to earn extra money
- Patreon: this platform also allows you to integrate payments (monthly or by podcast), so that whoever wants to subscribe to listen to your content must contribute the amount that you have stipulated
In summary, although in Spain it is still difficult to generate significant income with a podcast, it can be a good way to have additional passive money month after month.
- A growing market with little competition
- You don’t expose yourself as much as in the video
- The investment is practically nil (one micro)
- Economic potential is still low
- You should contact most advertisers on your own
Sell your services online
Although you can sell them through your blog, YouTube channel, or podcast, if you still do not have an audience you can advertise on specialized platforms in connecting freelancers who offer their services online with interested users.
The jobs offered by freelancers on these platforms are usually 100% online, such as translating a text, composing a jingle, editing a photo, or making a marketing plan. There are even people who sell love spells from a distance!
These are the three most popular lamps of the moment:
- Upwork: although it is only in English for now, it has a huge number of clients
- Freelancer: it is in English, it has less volume of clients and it is not so easy to use
- Fiverr: it is also in English and has many potential clients, but most do not intend to spend too much money
All tend to stay around 10% of your turnover and rely on your customer reviews to increase or decrease your popularity. The more positive reviews you have, the more visible you will be to those users interested in services like yours.
You can make a lot of money from this type of business if you become popular and your services are in high demand. In fact, I know people who dedicate themselves full-time to serving clients doing translation work.
- You don’t need to build an audience
- You can start making money from the beginning
- Some platforms have a huge volume of clients
- You cannot convert it to automatic passive income
- The margin is not too large
- There is usually a lot of competition
Become a copywriter
More and more companies and entrepreneurs are committed to strengthening their online presence, and that means that the demand for written content is increasing.
To give you an idea, more than 3 million articles are published on blogs every day. This need to generate content has caused writers to become a highly demanded profile in the online world.
Also, the barrier to entry is very low – you just have to like it and you have to be good at writing.
Within the copywriters, there are several levels according to their specialty, experience, and the quality of their texts and their standard rates are usually between 3 and 10 dollars for every 100 words (although some charge much more), so a text of 2,000 words it can be paid perfectly to more than 100 dollars.
I have worked with several copywriters for my affiliate projects with Amazon, and I know that working full time, the monthly income of a writer can be around 2,000 and 3,000 dollars.
Generally, copywriters who specialize in creating sales pages are the best paid, since they are the key stage in getting a visitor to end up becoming a customer. In some cases, thousands of dollars have been paid for a page of this type.
With the rise of copywriting, platforms dedicated to putting writers in contact with companies, entrepreneurs, or bloggers who need content have also appeared. Some examples are:
- iWriter: there are more and more English writers joining this platform. It doesn’t pay excessively well, but it makes up for it with the number of clients it gets you.
- lowest: pays a little better and has a good volume of customers who need written content
- Textbroker: allows you to negotiate the price directly with the client, but on the contrary, there is not too much workload.
- You don’t need anything more than knowing how to write well (and that you like it)
- With copywriter platforms, you can start earning money today
- The best copywriters make real fortunes
- There is more and more competition and it costs more to stand out
- Rates are going down due to the proliferation of copywriters
- It is not a passive income
Sell online courses on other platforms
If you want to sell an online course but are not willing to work for months to build an audience on your blog, you have a faster alternative.
There are platforms like Udemy or Tutellus where you can become an instructor by uploading your own paid video course. These platforms usually receive thousands of visits a day from people interested in learning about a specific topic, and if your course meets demand and meets the expectations of users, you can earn a lot of money.
Unlike your own blog, to sell on Udemy you must adjust the price of your course (according to the studies of the platform itself, 90% of the courses sold are below 50 dollars).
But there are still people who generate thousands of dollars per month, as shown by the fact that some courses in English already have almost 20,000 enrolled:
Assuming an average of 15 dollars of profit per course sold, you can already imagine the money they are making with this.
My recommendation for building a successful course on Udemy is as follows:
- Make a list of topics in which you consider that you know more than the average of the population
- Create your account on Udemy and enter your topics in Udemy Marketplace Insights, an application that allows you to calculate the potential of your online course
- Choose a theme where the monthly earnings of popular courses are high
- If the demand is HIGH and the number of courses is MEDIUM or LOW, you are facing a very good opportunity
In this real-life example, the most popular web development courses in English are generating an average of more than $ 4,700 per month.
- Then look for a course in English on the same topic that is selling a lot
- Get inspired by its title, format, and content structure (which have already been shown to work) to create your course
- You do not need to attract visits or create an audience
- There is still little competition in English
- The price of the course is limited
- The topics that sell the most are techniques
Sell your creations on marketplaces
If you like photography, composing music, or programming, you have a business opportunity on some platforms that act as a marketplace, putting creative people in contact with clients.
The concept is simple: you associate with these companies and they include your creations in the list of products on their website. When a client buys the license to use your content (be it a photo, a music jingle, or a web template), you earn money and they take a commission.
These are some of the most popular marketplaces:
- For photography, you could register in image banks as a provider in Shutterstock or Fotolia, where they pay you a percentage of the subscriptions of customers who download your photos.
- For music, you could join Encore (a website specialized in hiring musicians for events) or license your creations online at Airbit or AudioJungle.
- If you create web templates or plugins, you can sell them through Themeforest. It is the most popular platform for buying and selling digital products, where some suppliers have invoiced more than 1 million dollars a year.
It is true that, as a general rule, it is not easy to generate a large income in this way. Unless you have an extremely popular product, the most common is that you earn extra money each month to supplement your other sources of income.
- They expose you to a lot of potential clients
- It is a 100% passive income: once you upload your creations, you can not worry
- If you are not extremely popular, the income is not very high
Give online language classes
Since English is the second most widely spoken language in the world (only behind Chinese), it is not surprising that there is an increasing demand to learn this language.
In recent years online classes have become very popular among people who live abroad and want to learn English. Although the idea is that you train as a teacher, it is true that in many cases the simple fact of being a native and having a good methodology may already be enough to attract students and earn a good salary.
There are two ways to teach online language classes:
The advantage of creating your own blog and offering classes there is that you will be able to set higher prices, in addition to that you will not be competing with hundreds of teachers who would appear next to you on the platforms.
However, starting a blog and getting visits is a medium-term job in which you will have to invest a lot of time.
On the contrary, online class platforms usually charge a monthly commission for staying enrolled, but in return, they put you in front of thousands of students looking for language teachers.
Also, the fact that many students reside abroad will allow you to adjust your class schedules to ranges where you would not normally have students if you were to do classes in an academy, such as after dinner or at lunchtime.
If you are interested in teaching online classes, my recommendation would be that you sign up for these platforms while you grow your blog. When the latter is popular, you can focus exclusively on it.
- It’s a quick and easy way to earn money
- There is a lot of demand, and classes are well paid
- The money you can generate will depend on the hours you are teaching
- Surely you will have to train to be able to give classes with guarantees
Work as a virtual assistant
The virtual assistant profession is one of those new opportunities that have arisen with new technologies, and the demand for which is expected to continue growing in the coming years.
A virtual assistant is someone who works remotely taking care of various tasks for other people, be they bloggers, entrepreneurs, or even companies, to relieve them of the most tedious and heavy work.
Some of the functions performed by virtual assistants are the following:
- Receive and reply to emails
- Take care of your client’s schedule
- Update contents
- Pay providers
- Organize face-to-face events
- Prepare documents in Word or PDF
- Manage and streamline private Facebook groups
- Post content on social networks
- Edit videos
- Edit written content
In general, they are usually quite mechanical tasks, but if the client trusts the virtual assistant and they establish a relationship of trust, they may end up delegating tasks of greater responsibility, such as writing content or contacting the media.
There are several ways to get clients as a virtual assistant:
- You can contact yourself with companies, bloggers, or entrepreneurs and present your services (ideally, you will contribute a sample to check the quality of your work)
- You can be attentive to the requests for virtual assistants that bloggers usually make to their subscribers
- You can sign up for Upwork or Freelancer since many entrepreneurs look for virtual assistants on those platforms
The rates of a virtual assistant are usually calculated at a price per hour, which usually ranges from 10 to 40 dollars per hour worked, although some specialized assistants can charge a lot more.
- Does not require any initial investment
- No specific skill required, just management skills
- It can be done from home and part-time
- It can be monotonous or unrewarding
- It is not possible to automate it
Create an online store
E-commerce is booming, and if you sell products or can get them from a wholesaler or manufacturer, one of the most profitable ways to earn money is to create your own online store.
Nowadays it is very easy to create an eCommerce without any prior knowledge. There are specialized platforms that allow you to build an online store simply and quickly, such as WooCommerce for WordPress, Shopify, or Magento.
All of them allow you to offer various purchase options to customers, integrating payment gateways such as Paypal or credit cards. They are also in charge of keeping the stock updated and allow you to adjust offers and promotions.
The great advantage of this model is that it offers high margins, allows you to fully customize the image of your business, and eliminates internal competition to sell on Amazon, where the customer will find you with ten other companies that sell the same or similar.
Also, if you combine a blog with an online store, you can create content that attracts visits and generates customers constantly.
The main drawbacks are that you will have to make an initial investment to have a certain stock of a product, in addition to storing it and taking care of managing shipments.
In any case, the main key to success is finding a product where there are high demand and low competition. And if you buy it directly from a manufacturer, that it is reliable and offers you good prices.
In the long term, it is a fairly scalable model. I have advised online stores where at the beginning the same owner was in charge of making the shipments, and as the orders increased they ended up hiring a person to carry them out.
On the other hand, in case you want to sell handmade products, an option to consider is also Etsy.
Etsy is an online macro store where only manufactured products are sold. You can register there and create your own commercial space where users can see the products you sell and buy them.
The platform charges you a commission of 3.5% on each sale, and you also have to pay a symbolic price for advertising your products there.
- Good profit margin
- You have total control of your business
- It allows you to create a blog to attract visitors to your blog
- Requires an initial investment in stock
- The management of shipments is at your expense
- Depending on the type of product, you may encounter fierce competition (Amazon, for example)
Sell through drop shipping
The problem with online stores or platforms like Etsy is that they are not totally passive: you must take care of managing the stock and making the shipments.
However, there is another business model that relieves you of this responsibility: dropshipping.
The idea behind dropshipping is to partner with a manufacturer or wholesaler to take care of the shipments. You only have to create an online store where the orders will be collected and attract customers.
In addition to eliminating all the work of shipping, drop shipping also has the advantage of reducing the financial risk associated with purchasing and storing stock.
The profit margin is usually between 20 and 50%, which is not bad. But the biggest drawback is that you lose control of the delivery and the status of the merchandise.
This means that if the shipment does not arrive or it is necessary to process a return, the customers will complain to you and you must make sure that the incident is resolved with the distributor.
In dropshipping, it is essential to work with serious and trusted distributors, who have a system to synchronize their stock with your product catalog. Otherwise, customers may buy products in your store that are actually out of stock or discontinued.
To find distributors, you can attend fairs where various manufacturers of the type of product you want to sell are exhibited, investigate, and reach a dropshipping agreement with them. To avoid disappointment, it is best to work with two or three distributors who can serve the same product.
Some platforms are responsible for putting you in contact with various drop shippers. Some of the best known are:
- Aliexpress: It is a gigantic Chinese e-commerce website with thousands of suppliers.
- BigBuy: it is an English platform with a strong presence in the dollar, specialized in products for companies.
- DHgate – Another Chinese giant, specializing in electronics.
Amazon also has a model similar to dropshipping, called FBA (Fulfillment By Amazon). They are those products where the seller’s brand appears next to a “managed by Amazon ”. This indicates that it is a product of an external seller but that the distribution and after-sales are handled by Amazon.
In this case, you will have to buy an initial stock, but you send it to Amazon to keep it in its warehouses and make the shipments. Then you can integrate your online store with Amazon FBA so they can manage shipments from there.
There are several ways to automatically integrate the orders you pick up in your store so that they arrive automatically at the distributor, and most eCommerce solutions such as WooCommerce or Shopify offer them.
- Does not require any initial investment (except Amazon FBA)
- Generate income on autopilot because you forget about shipments
- Good profit margin
- You totally depend on the distributor
- If the distributor does not personalize shipments with your image, you are not building a brand
- In competitive markets, you will have to adjust the price a lot
Using an online franchise
Online franchises are one of the businesses that have been experiencing the most growth in recent years because they allow you to start generating income faster than other types of online businesses.
The model is very similar to that of physical franchises: you pay an initial fee to be able to use the name of the franchise, and then it takes a percentage of your billing (usually between 20% and 40%).
To this, you have to add the stock costs if any, since in some cases the business may need actions outside the Internet. For this reason, the ideal is to look for franchises where you can provide services from homes, such as consulting, training, web development, or eCommerce.
The biggest advantage of online franchises is that they are often based on a business model that has already been proven to work. They also allow you to use their name and thus take advantage of their authority.
Another point in favor is that, normally, your website will be linked and recommended from its portal, which will help you get customers. But keep in mind that, depending on the franchise model, you will also have to take care of finding clients to expand your portfolio.
There are many types of franchise, such as:
- Online stores that work through dropshipping
- Real estate agencies to serve clients in your area
- Digital marketing companies to take care of the management of clients’ social networks
- Online travel agencies that will get you the administrative license to operate
If you are afraid of not knowing these topics, don’t worry. Most franchises offer training and advice to their franchisees, as well as promotional materials.
Creating an online franchise is a good way to generate extra income each month, since many allow you to work part-time, assuming the amount of work that you can handle. But, deep down, it’s not your own business.
- They allow you to work part-time
- The investment is less than in a physical franchise
- You will get customers faster
- In some franchises, customer acquisition must be done by you
- You depend on the franchise
- Don’t create your own business/persona brand
Make money by gambling or investing
Finally, some ways to earn money online have become very popular in recent years, and for many people, they have become a real business, such as investing in financial markets, playing poker, or gambling in casinos and sports websites.
However, if you don’t have a lot of experience, you run the risk of losing a lot of money. And even with experience, there is always the possibility of getting upset.
Also, if you are not careful it can become an addiction. That is why it is not a system that is recommended in the long term for someone who wants to start an online business.
If you still want to try it, the best thing is that you do not jump on your head and train well at first. Of course, the courses are not exactly cheap.
It is also possible to earn extra money on pages like Microworkers by filling out surveys or taking actions like visiting web pages and clicking on links.
You do not need to have the knowledge or make any initial investment, so anyone can do it. However, its potential is minuscule and it is practically impossible to live on it or generate a significant income.
- If you are good and you know what you do, you can earn a lot of money
- The initial investment is low and many cases give you the first dollars to invest
- They require little commitment on your part and you can do it in your spare time
- It requires a lot of knowledge and experience in this sector
- Some platforms are very unreliable and you should inform yourself well before
- You do not stop depending in large part on luck
- You can lose a lot of money in an instant
Create your payment service
The next step is to turn your blog into an online business by offering a paid service.
This service can be of two types: face-to-face coaching or a digital service, such as an online course.
The second option is my favorite because it is the most scalable way to earn passive income.
Creating a course in the form of recorded videos only has the initial cost (and basically it is your time). Once you have created it, it will cost you the same to sell one as two hundred, unlike coaching where you will be limited by the number of hours you can dedicate to each client.
These are the advantages of creating an online course:
- You will reach thousands of people around the world
- You will create an asset that will continue to provide you with money for many years
- You can scale your business without limits
In abilitysocial.com I sell a video course that generates an average of 3,000 dollars per month. I only had to create it once. Then I put it up for sale and I could already forget about it: it became passive income.
If you want to build a personal brand that brings you long-term benefits, I recommend starting a blog and turning it into a business selling online training. Otherwise, affiliate sites still have a lot of potentials.
Whatever your choice, the important thing is to start without waiting for everything to be perfect. Your experience in an online business is what will open a sea of new opportunities for you.
I hope this article has helped you understand what profitable online business models exist today. Each of them has its advantages and disadvantages, but these are the ones that are currently generating the most income for small entrepreneurs.
Do not see the Internet as a solution to earn money quickly. Although there are people who have become millionaires overnight, they are the great exception. To be successful you must be willing to learn, be consistent, and persevere.
How to choose your online business model
As you have seen, each online business model has its advantages and disadvantages, and not all of them are equally suitable for everyone.
Some have greater potential, but also require more work. In some, you will be the visible face, and in others, you can remain anonymous.
There are also business models with higher financial risk or scaling costs, while others require little investment and can be turned into fully automated revenue.
To choose the one that best suits your needs, you should take into account the following factors:
Do you want to build a long-term online business?
There are short-term opportunities that can earn you money, but they do not guarantee that it will continue to be that way in the future.
As a general rule, working on third-party platforms such as YouTube or Udemy has two risks:
- It is the platform that saves all the information and contact details of the clients
- No one guarantees that they will continue to exist in the future, or that their conditions will change
If you want to ensure the viability of the long-term business, you will probably have to work on your own platforms, such as a website or blog.
Do you want to build a personal brand?
Building a personal brand can open up more business opportunities for you. For this, the most recommended would be a blog or YouTube channel, for example.
In my case, creating a blog helped me appear in various media and allowed me to publish a book. It has also allowed me to meet people with similar interests and find many opportunities for collaboration.
But if you prefer not to have any public exposure, it would be best to choose an affiliate website or online store.
What is your favorite support?
If you have decided to create your own personal brand, you should consider which is the medium in which you feel most comfortable to convey your message.
There are basically three:
The written format, be it a website or a blog, is comfortable because it allows you to control your message well. It is also very easy to edit before publishing.
If you are good with the camera, you may prefer to create a YouTube channel to broadcast your messages. And if you have a good voice and public speaking skills, you should value a podcast.
You do not have to stick with a single support, but to start it is better to focus on one and not divide the efforts.
My recommendation on Most Profitable Online Businesses to Start in 2021
In my experience, online businesses with lower risk and greater potential in the medium and long term are:
- The webs membership on a product category
- Create a blog on a topic and sell automated services, such as video courses
A blog will help you build your personal brand, plus it is likely to offer more security in the long run.
What is your idea?
If you decide on a blog, first you have to make a fundamental decision: its theme.
The ideal is to specialize and satisfy the need of a specific audience. When you try to cover too many topics, your readers don’t feel identified and stop seeing you as an authority on the subject.
To find your idea, ask yourself these three questions:
WHAT DO YOU LIKE?
If you are going to have to be writing for several years on a topic, it better be about something that you like.
Look for hobbies or interests that you would never tire of talking about because all of them are excellent candidates to become the central theme of your blog. Write down 5 to 10 topics that meet this condition.
WHAT ARE YOU GOOD AT?
Now write down 5 things in which you consider yourself especially good or that your knowledge is above average. You can also ask your friends what they would ask you for advice on; they will often give you very valuable information.
But remember that it is not necessary to be an expert on a topic to start a blog, because this is the fear that stops 99% of digital entrepreneurs.
When you launch your blog you will not have readers. By the time you start to have an audience, you will have had to inform yourself so much about your topic that you probably know more than 99% of the population. What seems obvious to you may not be so obvious to a layman on the subject.
CAN YOU FILL A NEED?
Now you should have several ideas to start a blog. Before deciding on one, validate that there is potential. That is, it covers an existing need and that there are also people who would be willing to pay to solve it.
For example, you could create a blog with tips on finding accommodation, socializing, or traveling safely for solo travelers. If when you talk to them they tell you that they would be willing to pay to solve those problems, bingo!
Do not be afraid to be wrong, because you can always adjust the theme to the needs that you find in your readers and in which you feel most comfortable.
In fact, when I started abilitysocial.com I dealt with all kinds of topics related to social psychology, and I only started to be successful when I focused on offering guidelines to improve the personal relationships of introverts.
My final recommendation is that you create an online business that can be automated and belongs to you, like a blog or an affiliate page. It will last longer in time.
And you? What type of online business do you want to start?