The cost of startup a new business is pretty low. Especially for online-based businesses. Technology has made starting your online business easy and affordable. All you need to start a business online is a phone, a computer, and an internet connection.
Here are some small business ideas for new startups in 2020.
- Dropshipping
The formula is fairly simple: you purchase your initial inventory, create a brand, and market (advertise) your products online.
You can even use drop-shipping or Amazon fulfillment services to do the whole thing without a physical warehouse.
- E-commerce – Online Store
Opening an online e-commerce store is very easy these days. Yes, the completion is tougher, but you have access to a wide range of free tools that you can use to set everything up with very little effort.
Affiliate Marketing
Affiliate marketing is very popular and pretty easy to start. Affiliate marketers promote the products of other people and earn commissions on their sales. Amazon is currently the most popular platform for affiliate marketing, but there are many alternatives as well.
- Data Analyst
A data analyst is someone who has the technical expertise to do this, often has a background in economics, mathematics, or finance.
Data analysts who work for large, international corporations can earn more money.
- Digital Marketing Manager
Marketing now is more digital than ever. The job of digital marketing managers is to produce the best results possible.
You can start your career as a digital marketing manager by studying freely available online resources and experimenting on your own.
You’ll need to understand things like advertising, SEO, landing pages, email marketing, content marketing, and social media marketing.
- SEO Expert
Search Engine Optimization (SEO) is an absolute necessity for all online businesses.
A capable SEO expert can turn a dying business into a profitable business in a few months. No wonder then that the best SEO professionals can earn as much as software developers.
- Self-Publisher
Some self-published authors earn a lot of money yearly. All you need is a few freely available tools and the ability to write an effective and compelling book that will sell.
Also, you can use Amazon or other e-book stores to sell your e-books.
Of course, you don’t have to earn six figures to succeed with self-publishing. Just a few hundred extra dollars every month can go a long way.
- Social Media Manager
This business is ideal for someone who knows how to use social media to grow a business. You can use social media platforms like LinkedIn, Snapchat, Twitter, Instagram, and more. Also, there are some social media tools to make this job easier.
- Content Writer
Businesses of all sizes use content marketing to attract customers and establish their position as market leaders.
A content writer should be able to quickly digest complex topics and turn them into engaging posts that are well optimized for search engines (SEO Strategy). As such, it’s great for people who know a little bit about everything.
- Blogging
Blogging is alive and very popular in 2020. It’s still free to get started, but be patient: it will take a while to get exposure and grow your audience. These days, the competition is fierce. There are over a billion websites and blogs, and over 200 million are active. Good knowledge of SEO is essential, as is creating excellent content.
- Youtube Channel – Video Marketing
Video marketing and Youtube video channels are a very effective way to make money online. People love video and YouTube is the second larger search engine. Many businesses and marketers use video marketing to promote their products or services and grow their business.
- Crafts
If you are a crafty person, you can take a look at Etsy, the largest online market for crafts (homemade and vintage goods).
You will find an amazing mix of leather wallets, lamps made from river wood, unique t-shirts, jewelry, and many other things. Top sellers often expand beyond the platform, creating their brands and opening stores across the globe.
Also, you can use platforms like Shopify and BigCommerce.
- E-Magazine
These days it’s very easy to start an e-magazine. You can outsource everything online.
The subscription model allows you to know exactly how much money you will make the next month, and the global nature of the online world gives you a very large audience to target.
- Graphic Designer
A graphic designer may create digital or print design work, like website design and print layouts. Many designers use gig websites like Upwork or Fiverr. Competition can be fierce.
You can make from $15/hour to $300/hour. Developing an impressive portfolio can help you earn more.
- Online Course Creator
One of the most popular platforms where people can access massive open online courses is Coursera. It has more than 15 million users, who are hungry for knowledge. Such online courses go far beyond the traditional high-school classes.
If you have any skill or knowledge that you think people might be interested in, you can create your online courses. All it takes is a web camera and basic editing skills.
- Mobile App Developer
Mobile applications are more popular than ever, and people are willing to pay good money for effective and useful apps. If you have a great idea and know-how to code (or learn to code), you can run with it and create your app yourself.
- VR/AR App Developer – Virtual reality and Augmented reality
The virtual reality software market is expected to reach 24.5 billion dollars in revenue by 2020.
All you have to do is learn how to develop immersive VR and AR experiences. The internet is full of resources and communities of like-minded people to help you along the way.
- 3D Printing Services
3D printing is a new revolution! You can be part of this revolution if you just invest in a high-quality 3D printer and offer it to other people.
They will simply send you their projects for you to print and then come to pick them up or send them to in a box.
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