Starting a business is everyone’s dream.
But few of us start working on this dream to open a business. Mainly because we don’t know what business to start or have some vague ideas.
And above all, we don’t have the capital or money to invest in a new venture.
If you’re among such persons, then continue reading. Because here I’ll be discussing seven great online business ideas for newbie entrepreneurs in 2023.
Let’s start by looking at some of the advantages that an online business has to offer, especially for newbie entrepreneurs.
Reasons to Start Online Business
There are at least five main reasons to open an online business if you’re a newbie entrepreneur. I’ll list some of them to make my point.
- The new normal dictates that all businesses have an online presence, in the aftermath of the 2020 Covid-19 pandemic. This means an online business could attract more customers than a traditional brick-and-mortar one.
- Setting up an online business is superb for newbies because it requires minimal investments. All you’ll require is your skills and a superb domain name with hosting that costs $9.99 per month or more.
- It’s economical to promote an online business through ads on the internet and your own website. In stark contrast, conventional advertising in newspapers, magazines, billboards, and other physical means is very expensive.
- You can adapt an online business very quickly to suit changing market conditions. This isn’t possible with offline business models.
- There’re countless ideas to start an online business. Comparatively, there’re fewer ideas for offline businesses.
If you would like to benefit from these five top advantages that an online business offers, then here’re some great ideas that you might like. Of course, you can adapt them to suit your skills and location, among other things.
7 Great Online Business Ideas for Newbies
The seven great online business ideas for newbies that I’m going to discuss require a minimum investment and your skills only. Therefore, you can try any of these. Furthermore, they’re easy to set up and operate too. You can select any of these ideas depending on your skills and the money you wish to invest.
1. Online Marketplace
E-commerce is growing at a rapid pace, as we would all know. Nowadays, most people buy stuff online. That’s due to the need for social distancing to prevent the Covid-19 contagion, despite the availability of vaccines. Therefore, opening an online marketplace is one of the great online business ideas for a newbie entrepreneur.
Actually, you don’t need to invest much in an online marketplace. Facebook Marketplace allows you to list and sell items within a specific area, free of cost. If you’ve something that can really sell, try Amazon Handmade, which specializes in handcrafted goods.
At the same time, consider opening an online marketplace on Shopify or Etsy. While Shopify is ideal for all kinds of stuff, Etsy allows you to open a marketplace only if you’re selling rare items, antiques, or handcrafted items.
2. Online Translations
Online translations are another superb business idea if you’ve expert-level fluency in English and a foreign language. There’s no limit on how much money you can make from this business of online translations. In fact, online translation services are always in demand since individuals and businesses require them frequently.
You could open a website offering online translation services. Or signup with any translation services company as an independent contractor and make money as a newbie entrepreneur. In fact, there’re several companies that offer superb online translation services. This requires no investment.
Generally, you’ll be translating documents, advertisements, legal notices, contracts, and other such stuff as an online translator. As I mentioned earlier, you’ll require excellent, expert-level language skills for this business since your translations should have at least 99 percent accuracy.
3. Selling Online Courses
Another fabulous online business idea for newbies is creating and selling online courses. As education continues to suffer and people remain indoors, there’s a huge demand for online learning or e-learning. And you can ride the wave to make money from this business idea for a newbie.
To create an online course, you’ll require superb knowledge about a school or college subject or even something to do with a profession. Or you can create courses on your hobbies such as cooking, dancing, or playing a sport and sell them through any superb e-learning portal.
Another option is to create live courses. This means you’ll be conducting live classes using video conferencing software.
To create an online course, you’ll also require superb teaching skills. One way to be an online tutor is by signing up as a teacher at any of the topmost e-learning portals. In such cases, you’ll be working as an independent contractor that provides the course. In fact, several online tutors have become millionaires.
4. Online Graphic Designing
Online graphic designing is a superb business if you’ve got the right skills and a relevant degree. There’re countless websites where you could signup and enter contests for graphic designing. You could win a superb contract to design logos, livery, and product brand images from some of the topmost companies in the world.
Generally, online graphic designers work through a freelance system known as crowdsourcing. This means that a company will hire a full team of graphic designers to work on a project. This means you’ll be working alongside some of the top graphic designers from the USA and abroad. This provides ample opportunities to learn a lot from them too.
You can also become a graphic designer by launching your own website and promoting it online. Or by advertising your services through different portals such as Craigslist, among others. The best way a graphic designer can become an independent contractor is by signing up on freelancing platforms such as Fiverr, Upwork, and FlexJobs.com, among others.
5. Affiliate Marketing
Affiliate marketing is a business where you indirectly promote products for an eCommerce company such as Amazon or eBay and make money. To become an affiliate marketer, you’ll require a blog or website, YouTube channel, or free membership to other social media platforms including Pinterest and Instagram.
There’re several superb affiliate programs available from online retailers. For example, Amazon runs the largest affiliate marketing program known as Amazon Associates. eBay also has a similar program. In fact, some 43 percent of Amazon’s sales come through affiliate links.
When you become an affiliate marketer for any online store, they’ll provide you a dashboard where you can make links and ads for the products you wish to sell. And you’ve to post these links on your website, blog, or social media pages. When someone clicks on these links to buy something, you get commissions. Amazon pays between two percent and 18 percent commissions to its affiliate marketers, depending on the type of stuff they’re selling.
Dropshipping is also a business that requires almost zero investment. In fact, dropshipping is becoming very popular across America as one of the best businesses for newbies. If this sounds interesting, I’ll explain in simple words what dropshipping is all about.
As dropshipper, you’ll have agreements with wholesalers and manufacturers of various products around the world. Under these agreements, you’ll get stuff at wholesale or factory rates. You’ve to add your commission and advertise these products on your website.
Whenever anyone makes a purchase and pays, a widget that you’ve to install on your website will automatically deduct your commission and pass on the money and the order to the supplier. In turn, the supplier directly ships the stuff to your customer.
However, to enter dropshipping, you’ll need a superb returns policy and agreements on minimum quantities you can sell with the wholesaler or the manufacturer.
Several years ago, blogging was considered a hobby. However, nowadays, blogging has become a big business that also allows you to self-branding. And indeed, blogging is also a very lucrative business, if you’re a newbie entrepreneur.
To open a blog, you’ll require a domain name and hosting which costs $9.99 per month or more, depending on the plan you buy. And you’ll need in-depth knowledge about something combined with excellent writing skills. You can create content and upload it on your blog site.
There’re four ways to monetize a blog. The first one is by subscribing to Google AdSense. When you subscribe, you’re actually giving permission for Google to display ads on your blog site. And whenever someone clicks on these ads, you get some money.
The second and perhaps best way to make money from blogging is with affiliate marketing. Join any good affiliates program, write amazing reviews of the products, and provide links for people to buy the stuff.
The third way to make money from blogging is by accepting sponsored posts. Often some companies or individuals want their posts to feature on your blog. And they’ll pay you too. And finally, the fourth way to make money from blogging is by accepting paid ads to display on your blog site. That way, you can make a lot of money too.
Final Thoughts: 7 Great Online Business Ideas for Newbie Entrepreneurs in 2023
As a newbie entrepreneur, you can try any of these seven online business ideas. As you can see, they don’t require any investments, can be started easily, and are simple to operate. Instead of going for complex businesses, these online businesses are almost hassle-free.
And online businesses are very versatile too, meaning you can add or remove or upgrade your offerings as and when necessary. Online businesses also earn you money while you’re asleep or doing some other work. You can also designate a family member to care for your online business as a newbie if you’re going to be busy.
Now It’s Your Turn!
Hey, I hope you enjoyed reading this list of 7 great online business ideas for Newbie Entrepreneurs in 2022.
So, now I’d like to hear from you:
Do you plan to work on any of these online business ideas?
Let me know in the comments below right now.
Also, share this post with your friends, struggling hustlers, and aspiring entrepreneurs who are looking for some great online business ideas.7 Great #OnlineBusiness Ideas for Newbie #Entrepreneurs in 2023 Click To Tweet
If you have any questions, feel free to contact me. I’m always available to help young hustlers like you.
This is a guest post written by Alice Feltch
Alice is a career and productivity copywriter who believes in the power of networking. She’s passionate about blogging and writes web content for a variety of clients. She is currently dedicated to Online Jobs Academy as a gig worker, she understands the benefits and challenges of the industry. Blogging about education and career regarding ideas to grow is something that she loves doing.
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