Building online income streams can be the most liberating thing you do, and gives individuals all over the world a chance to provide better for their families, make ends meet and build a safety net in case everything else fails. The idea is enticing, and more possible than ever, but many don’t know where to start, let alone how to start. In addition, many drop the idea when they need startup capital before they see any money coming back.
Whether you are looking to become a full-time entrepreneur or just to start a part-time gig to generate passive income, your product or service should fulfill a specific need that others want to consume. To do that, the most important step in starting a profitable online business is to find a business idea that matches your skills and strengths. It is not easy to find that business idea, so we decided to compile a series of profitable need-based businesses, with no or minimal startup costs, that you can start today.
1. Blogger
Blogging is inexpensive and easy to start doing. It could be as simple as you just writing about your favourite music or food, and eventually, you can start generating money from your blog. Just keep in mind that you need to be patient when it comes to cashing in on your blog. If this is something you want to pursue, you might want to set up your blog with WordPress and start a profitable blog.
2. Editor
Perhaps you don’t want to start a blog from scratch, but you do want to help build exceptional content. Good content requires good editing to reach new levels of quality that will excite and capture the attention of potential customers. Businesses know this, and that is why they are hiring editors that can work remotely and hence collaborate online. There are many type of editorial services, but here are some that you can provide from the quiet of your own home:
- Copyediting. This is where fact checking takes place, and where grammatical, stylistic and typographical errors are captured.
- Proofreading. This is the last stop for a “finished” piece. The proofreader makes sure the copyediting changes have been properly made and no new errors are created in the process.
- Indexing. There are indexing courses available and you can get indexing software to rank higher.
- Developmental editing. A developmental editor works with a manuscript on big-picture things like organisation and content issues.
- Book doctoring. This is an editorial service provided for manuscripts written by experts. They create a manuscript as best they can and then a book doctor puts it into publishable shape.
3. Copywriter
Rather than just editing, you might want to write from scratch. If you can write copy that gets people excited about purchasing what your client has to sell, you can make good money in this business. Unless you are highly experienced working in the copywriting field, take a course. There are online courses or classes at community colleges and universities that can give you a leg up in getting savvy at writing copy for brochures, catalogs, advertising and, of course, marketing copy for the web.
- Ghostwriting. As a ghost writer, you actually do the research and write a book in someone else’s name is attached as the author.
- Book writing. Do you have expertise in something professional, such as accounting or interior decorating? Or personally, like knitting? Why not write a book about it?
- Magazine article writing. Magazines and newspapers are a great way to get your writing published before tackling the daunting task of writing a whole book.
- Web page content provider. Providing content for a web site is a good way to make some money writing.
4. Affiliate Marketer
For those unfamiliar with affiliate marketing, it’s simply referral marketing where you earn a commission. Let’s say that you have a website and refer a book on Amazon. When the visitor clicks the affiliate link and buys the book, Amazon will pay you a percentage of the sale. People love affiliate marketing because they can start earning money passively with very little startup costs.
5. Animator
Are you an artistic and creative individual who is able to create animation and visual effects for television, movies, video games and other types of media? Then you can work at home as freelance animator, animating for people everywhere in the world.
6. Data Entry
Inputting data for businesses isn’t the most of exciting of jobs. However, you don’t need any previous experience, and you can start today at $10 per hour.
7. Webshop Owner
Both e-commerce and m-commerce is exploding these days. Dropshipping, wholesaling, manufacturing, white-labeling and subscription services are just a few examples of a long list of webshops, allowing you to make money online. Thanks to sites like Shopify, Magento and WooCommerce, you can quickly launch your own ecommerce store.
8. Graphic Designer
Many businesses are in need of someone to design their logos, websites, visual ads and other visual assets. If you have a degree or certification in this area, you can make a comfortable salary annually, reportedly $45,000 and up. The more skilled you are, the more clients you’ll likely get through word of mouth. Here’s a guide on how to build a website that can help you get started.
9. Online Juror
When attorneys prepare for a trial, they often seek feedback on their case. Depending on the mock jury website you choose, you can make between $5 to $150 for your opinion.
10. Online Teacher
Are you a teacher who’s looking for a more flexible schedule? Then consider teaching via Skype or via a pre-recorded session through organizations like K12 and Connections Academy.
11. Peer-to-Peer Lender
Got money to spare? Thanks to sites like Lending Club and Prosper, you can easily lend money to a business or individual. As an investor, you’d make money on the paid interest of the loan.
12. Product Reviewer
You can make a decent living just by reviewing the products that you use daily, reportedly between $20,000 and $95,000.
13. Social Media Manager
There are a lot of organizations who need someone to manage their social media accounts, and some may even want you to completely develop a social media strategy for them.
14. Survey Taker
This won’t make you a millionaire, but you can be paid between $1 and $50 each time you take an opinion poll, answer questions about your shopping habits or review a product. You’re usually paid by check, PayPal or points that can later be redeemed for gift cards.
15. Translator
Are you fluent in another language? Start earning a living off of this skill by translating documents or becoming an interpreter.
16. Virtual Assistant
If you’re organized and can handle office duties like replying to emails, calendar management, entering data and assisting with social media, then this job is perfect for you. And you can make between $10 and $15 per hour.
17. Virtual Public Relations Representative
Some small- to medium-sized businesses don’t have the budget for a dedicated chief marketing officer, a vice president of marketing or even a public relations firm. But they may have the funds to hire a virtual public relations representative to take care of duties like promoting a business or managing a crisis.
18. Online Recruiter
This is pretty much the same position as an in-house recruiter except you get to work wherever you want. The other major difference is that you search the web to find the right employee for the right position. You’re also responsible for screening the applicant and being a part of the interviewing and negotiation process. Some recruiters are paid upward of $125 an hour for building resume templates.
19. Online Tutor
If you have extensive knowledge in a specific area, then you could earn between $12 to $35 per hour by tutoring students either over the phone or on Skype.
20. Web Search Evaluator
In order to deliver the most accurate service to customers, search engines pay individuals to analyze search results. You don’t need to have much experience, and you can haul in $12 to $15 an hour.
21. Website Tester
Businesses want to make sure that their websites are intuitive and easy to navigate. As such, they’ll assign instructions for people to follow to check out their site. Each test usually takes around 15 to 20 minutes. In return, you’ll often be paid $10 to $15 per test.
Wondering how to get started? Look no further, begin a profitable blog today.
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