While most people seem interested in the idea of owning an online business, few are willing to put in the time and patience to see tangible results from their initial efforts. Unfortunately, most online money making methods involve exercising patience and waiting for results to materialise while putting in a lot of groundwork that doesn’t always pay off. This risky, no-guarantees framework scares a lot of would-be entrepreneurs away and keeps most of us content with “real jobs” or a business model that we’re confident in and experienced with, like real estate or construction. So how do you make the leap into online business without dealing with the waiting game? Try starting with the following 5 online business ideas that you can literally try today but do not forget that you would need to also promote it with different options, like SEO or social media marketing.
1. Forex Trading
Although the full description of the occupation goes beyond the scope of this article, as a trader you’ll be able to start making potentially profitable trades and acquisitions in a matter of minutes with no special credentials or training required. Forex Trading platforms make it easy for anyone to join and get started on the same day. With that said, there is no one-size-fits-all strategy for Forex, so it pays to do your research.
2. Open a Retail/Consignment Shop
Another way you could start earning money online today would be to open a store in a marketplace like eBay, Amazon, or Etsy. There are a few different approaches you could take – sell your own stuff and/or items brought to you by people in your community (consignment), or find a product that you can buy for at least half the price of what you’ll be selling it for (retail). Once you have a business model in place, it’s just a matter of optimising your profile, item descriptions, and auction pages.
3. Freelance Writing or Translating
Perhaps the fastest way to make money out of literally nothing with no startup capital would be to start applying as a freelance writer on freelancing sites. You could also apply for some of the top content mills out there. If you have a decent grasp on the English language and can write in a professional manner, you should be able to find work if you stick with it. Likewise, if you’re proficient in a foreign language you could put your skills to use as a translator.
4. Brokering Digital Services
As mentioned in the tip above, there are loads of freelancing marketplaces in which digital service providers are constantly bidding on projects. You could start your own agency and broker some of the services of these professionals for a percentage off the top. For example, if you find a web designer that is willing to design web sites for £250 a piece and you’re able to find clients that are willing to pay £500 per site, you’re in business.
5. Launch a Blog
Finally, we listed launching a blog last because, although you can build a site and put it online today, it’s unlikely that you’ll start making money with it immediately. Instead, you’ll have to put in some work to build the daily traffic, at which point you should start seeing a bit of residual income in the form of ad revenue.
What are You Waiting On?
Imagine how much income you could generate if you were running all 5 of the businesses above simultaneously? Even if only one of them pays off in the long run, you will have found your entry into the world of online business. Before you run off to tell your friends and family about your new career as a web entrepreneur, be forewarned that none of the above business ideas will be “easy” to execute, so be prepared to research and work.