With people stuck in their homes, being an entrepreneur might seem strange right now. However, this opens up the possibility of running an online business. The economy is still running and people are still buying things. The difference is that they are now doing it online. It is also much easier than you might think.
Here are a few ideas for online businesses that don’t need much investment:
Turn Your Hobby Into a Business
If you have been sewing or knitting all through the pandemic, then you’ve got a business all ready to go. People appreciate arts and crafts, especially when they are done well. If you have a good enough output, then you can likely sell some of them. You can even use your creativity and add even more offerings. It is not just clothes you can sell either. Trinkets, art, and more sell pretty well as long as you have a market for them. You will have to do some advertising, though that is possible on social med.
As for logistics like payment and courier services, they should be easy to arrange. You can also give these over to a platform like Etsy but they will be taking a cut from your earnings.
Use The Dropship Model
Thanks to the internet, you don’t have to own a big warehouse to compete with stores like Amazon. If you start an eCommerce store focused on a particular niche, you can mainly serve as the middleman when you use the dropship model. Your store’s main focus would be marketing and advertising. Your online store will serve as an extra gateway for customers.
When they buy from you, the order is forwarded to a wholesaler under your name. You will be purchasing it at a lower price than retail so you still get profits. The retailer then does all the shipping and handling. All of this can be completely automated so you just need to focus on raising the profile of the product.
Creating Educational Content
If you are an expert in something, then you should consider sharing that expertise. You can do this in the form of writing how-to guides or recording instructional videos. The important thing is to not do it for free. You can monetize these guides through various means. The simplest is to start a YouTube channel and use ad revenue to get money from it.
But you can also start selling these as educational packages for students. For example, an enterprising language teacher can record language lessons in podcast form and offer them as a learning package. The great thing about the content is that you record or write it once, you can get money from it constantly.
Offer a Service
The internet allows you to provide your services anywhere in the world if you are in the right industry. For example, if you are an editor, you can start an editing business. You can charge per page and offer to submit it within a specific time. This is just one service that you can give over the internet. Others can include consulting services and even tutoring.
Your main problem is ensuring that you get proper payment and that you can deliver what you promise. With good word-of-mouth, you can expect people to use your services more and more.
Everyone is feeling the crunch so earning a bit of extra money can be a great idea. The good thing about a lot of these businesses is that a lot of the processes are automated. This means you can have multiple businesses running or have a full-time job working from home along with it. This is a big advantage and can be worth the effort.