Do you want to start an online business but struggle to find online business examples that might work for you?
Creating a profitable online business and making money online can be easy with the right business model.
I've compiled a list of the top 5 most profitable online business ideas with you that are low-cost and easy to start so that you, too, can make money online.
We're exploring this list countdown style, with number one being my absolute favorite, so be sure to stick around until the end.
5. Selling Digital Marketing Services
Although the internet has been around since 1991, it was only in 2000 that people started to use this new form of communication to connect with their customers.
The internet is a powerful tool that can be used to connect with customers. Digital Marketing uses this same idea. Instead of communicating through email or text messaging- which would require an actual person- brands are reaching out via social media posts and websites on the web.
The power behind marketing tactics such as Facebook ads has made it possible for companies worldwide to reach their target audiences in ways they never before by simply tapping into new databases where names appear alongside interests picked up from online browsing.
Today almost every business relies on digital marketing for success because companies can easily reach potential consumers by slipping into their social feed or inbox.
Succeeding generations have grown up knowing about these technologies, making them more likely than ever before to Capitalize On These Technologies: Online Media And Marketing.
As a new entrepreneur, you could take free to low-cost online courses to acquire a skill and then begin selling digital marketing services. Or, in some cases, get hired as an assistant and learn the skills as you get paid.
Examples include, but are not limited to:
Search Engine Optimisation (SEO)
Search Engine Marketing (SEM)
While I can do most of these tasks reasonably well, over the years, I've hired small business owners to write email camp, optimize my content SEO, set up automation sequences, and repurpose my content into social media marketing posts.
4. Membership Websites And Membership Programs.
What is a Membership Website?
A membership website is a secure site that includes members-only content. Nonprofits, clubs, associations use membership sites, and even businesses to "gate" content that only members have access to provide additional value.
You can use a free/low-cost platform like WordPress to get started.
What should a membership site include?
Content like blogs or videos.
Perks for members like digital products or even physical merchandise.
A community section or forum where other members can interact.
Your archive of content.
Exclusive downloads like worksheets, templates, and more.
3. Coaching and Consulting
As a coach, your job is to extract answers from clients. At the same time, consulting you in guiding someone to a specific endpoint.
You don't need a business card or website to start, just an idea of how you'll help people, get the word out, collect money, and deliver on the promise.
I used word-of-mouth and a referral incentive when I started my coaching business. Paypal to collect money, my cell phone, and an in-person meet-up at a public location to deliver on my coaching promise.
Over time, as the money began to come in, did I start to invest my time and energy into building online marketing assets.
The cool thing about starting a coaching business is that while it's highly recommended that you pursue further education and acquire formal training, the industry is not regulated and doesn't require a coaching certification to get started.
2. Affiliate Marketing
Affiliate marketing is where you can earn a commission by promoting a product or service made by another company. The affiliate partner has rewarded a payout for providing a specific result to the retailer or advertiser.
A simple and low-cost way to begin is to register for an Amazon affiliate program.
You can grab links to your favorite products and begin sharing them online in your social posts, blogs, and email newsletters.
When someone clicks your link, you might not only get a small kickback from the product you initially recommended, but there's a chance you'll get a small percentage of whatever they buy on Amazon during that visit.
1. Selling Information Products.
Selling information products is my favorite online business example to date. It's what I specialize in.
In my signature course, I teach my students how to come up with an idea, pre-sell the picture as a live group coaching opportunity and then turn those recorded teachings into an evergreen digital course and self-published book.
Once the digital assets are made, we then work together to click them into an automation funnel that allows them to easily and quickly sell them repeatedly around the clock.
We do all of this in 12 weeks or less.
While there are many ways to make money online, these five examples should give you a good starting point. If you're looking for more ideas, or want help setting up any of these businesses, check out the additional blog articles linked below to get you started.
And if you're ready to dive in and start your own online course business now, we have everything you need in our member-only program.
Submit your application at MollyAnnLuna.com/Application to apply today so you can get out there and start making some money!
And in the meantime, be sure to tune into the next episode, where we'll discuss the Standard Operating Procedure Checklist for Your Online Business. See you there!