The Best Online Business to Start & Make Money Online
Will you become the next Steve Jobs, Bill Gates, or Jeff Bezos? When you think about Apple, Microsoft, or Amazon, you can’t help but feel that the ONLY way to have a successful online business is by starting the next mega software company.
But, of course, it’s not the easiest type of business to start. First, you’ll need many specialized skills including software development. If you don’t already know how to program, learning can take years. Even if you do build a viable business, such a company might make zero profit for years.
In fact, you might have to pour in your own money initially to keep things afloat, and you might rely on VC money to grow. Yes, some may succeed, but it’s not the most accessible path.
Not every online business needs to be this type of lottery ticket though. There is another type of online business that can also lead to wealth and freedom — and the barriers to entry for this one are lower, and the time to profitability is shorter.
Today, I’m going to walk you through what that online business is and why I think it’s the best online business to start. Take my word for it because I’ve written a #1 New York Times’ bestseller and founded my own multi-million dollar company from scratch. You can trust that I’ll use everything I know to help you kickstart your path toward financial freedom.
If you’re ready to take the leap and learn all about the best way to make money online, then let’s begin!
Table of Contents
An Accessible Starting Point
Selling services online is, by far, the easiest way to make money online for several compelling reasons.
Instead of investing extensive time in creating digital products or accumulating physical inventory, you can simply offer a service that suits your skills, whether it’s hands-on professional work or consultancy.
Moreover, unlike traditional networking events, online platforms offer a quicker and more cost-effective means to connect with potential clients. The key is to keep it simple in the beginning: sell one thing to one person and establish a straightforward process in scaling.
You can even leverage your existing network or explore platforms like Upwork and Fiverr to gain initial traction. What makes this approach even more appealing is that you only need to deliver the service after securing a client, ensuring zero wasted effort.
Additionally, requesting upfront payment can provide instant profitability. While there are plenty of other great online business ideas to start, nothing beats the ease of selling services you aligned with your skillset.
How to Scale Up
After establishing your service-based online business, the path to scaling up requires building an audience. This audience not only helps attract clients but opens up monetization opportunities. Fortunately, there are numerous ways to reach an unlimited number of viewers online.
To start, take a small but consistent approach. Begin by sharing quality content related to your expertise. As you gain momentum, scale up your efforts with unwavering consistency. This gradual process, combined with a growing audience, will pave the way for expanding your online service business and exploring additional avenues for income generation.
These avenues include:
Starting a podcast can be a game-changer for scaling up your online service business.
Many people begin podcasts to build an audience, understanding that it’s a powerful tool for earning trust. Your authentic voice can resonate with listeners. The best part is, you don’t need to be a born orator to succeed.
The key to podcast success is value, persistence, and consistency. It might take a few episodes to hit your stride, but once you do, the rhythm of continually producing powerful content will draw in more and more listeners.
To guide you on the right path, take some of the insights I’ve shared in my blog on how to make money from your podcasts. You’ll find insider tips as well as tricks on how I expertly break the rules when it comes to using podcasting to significantly boost my brand.
Creating YouTube Videos
Creating YouTube videos is a potent way to scale up your online service business. But it’s important to remember that it’s less about you as the creator and more about the value your content provides.
Building an audience on YouTube involves understanding your viewers’ needs and problems, staying focused on your niche, and consistently delivering high-quality content.
Before starting your channel, get to know your audience deeply and tailor your videos to address their specific concerns. Niching down instead of going broad helps you provide exactly what your viewers want, maintaining their engagement.
For example, if you’re teaching your viewers about copywriting, avoid expanding your topics to related niches like blogging to avoid diluting your focus. And, just like with any platform, success on YouTube hinges on the quality of your content and your consistency in posting new content.
Creating a Website
A website is one of the most effective marketing tools for reaching billions of users globally.
It serves as a 24/7 storefront for you to share your expertise and showcase your services, as well as a platform for clients to contact you at their convenience. When your content addresses the pain points and questions of your target audience, you become a valuable resource, and trust starts to develop.
To build an audience through your website, start by selecting a unique domain name with a keyword related to your niche. Register it with domain registrars like Namecheap or GoDaddy. Next, secure hosting services and use a content management system (CMS) like WordPress.org or Webflow to build your site. If you find this too technical, consider hiring a website developer.
Consistently reaching your audience is dependent on delivering top-notch content. Over time, collaborating with an SEO agency to optimize your site for relevant search phrases can significantly expand your reach and returns. While there’s an initial investment, the long-term benefits are worth it.
Networking on LinkedIn
Networking on LinkedIn offers a powerful opportunity to scale up your online service business. With over 700 million users, LinkedIn stands as the world’s largest professional networking platform.
When it comes to building an audience, LinkedIn is a goldmine. By connecting with individuals who are eager to learn or potential clients seeking your services, you’re engaging with an audience that’s highly likely to convert.
Wish you could connect with more amazing people, and not feel awkward in social situations? Download our FREE Ultimate Guide to Social Skills below.
Building this audience on LinkedIn starts with creating a high-quality profile, expanding your connections with people you know, and joining relevant LinkedIn groups. Actively engaging by liking, commenting, and sharing valuable content positions you as an industry expert, making LinkedIn an invaluable tool for scaling up your online service business.
Build an Email Newsletter
Building an email newsletter allows you to grow a subscriber list and deliver valuable content directly to their inboxes. It works well because it’s a direct channel to engage with your audience. With an effective email newsletter, you can provide insights, updates, and exclusive content that keeps subscribers invested in your services.
To build this audience, start by creating an email subscription form on your website or sharing it on platforms like LinkedIn. Utilize features like live chat windows or lead magnets to attract new subscribers while ensuring a seamless browsing experience.
Finally, maintain a consistent newsletter design aligned with your brand identity and deliver top-notch content to keep your audience engaged and eager for your services
Stop Trading Time
Once you’ve cultivated an engaged audience, selling digital products, particularly game-changing online courses, is easy.
For starters, online courses are a goldmine for experts in their niche, allowing you to monetize your valuable knowledge effortlessly. Marketplaces like Udemy, Skillshare, Teachable, Gumroad, and Kajabi offer platforms to showcase your courses in user-friendly formats.
What makes courses so enticing is their evergreen nature — you record once and sell indefinitely. While it takes some initial effort, you avoid the manufacturing, packaging, and shipping costs associated with physical products. Plus, your earning potential knows no bounds!
If online courses aren’t a good fit for you, here are other lucrative opportunities to monetize your audience:
With eBooks, you don’t need to be a literary sensation to write one. Simply hone in on what you excel at and how you can share that expertise through writing.
Once you’ve nailed down your content, publishing on platforms like Amazon Kindle or eBay, or selling directly through your website, becomes a straightforward path to turning your knowledge into income.
Consider memberships as your secret weapon for turning your online business into a cash-generating machine. It’s a brilliant way to monetize your expertise by offering exclusive content and building a thriving community of members who are hungry for what you have to offer.
The beauty of this model is that you can keep your premium content secure and accessible only to subscribers, allowing you to host exclusive, high-value content that’s streamed and not just downloadable. This creates an enticing offer that’s hard for your audience to resist, turning your knowledge into a profitable venture in no time.
PDFs and Guides
Leverage your skills for producing written content and turn it into a profitable venture with PDFs and guides. Whether it’s how-to guides, educational materials, deep analyses, or captivating stories, there’s a substantial market who are willing to pay for your expertise.
Platforms like Google Play Books and Apple Books offer expansive reach and straightforward distribution. If you want to retain control, sell your digital products directly through your website.
Once your side hustle is up and running, it’s important to keep 5 crucial things in mind:
By harnessing the power of social media, SEO, and email marketing, you can attract a broader audience and maximize your earning potential.
Online Cooking Instructions
Your culinary adventures, whether in your hometown or abroad, hold a treasure trove of delicious recipes waiting to be shared. Convert this wealth of experience into profit by crafting enticing cookbooks.
Compile these culinary gems with added value through tips, photographs, and engaging stories. With your cookbook ready, you can effortlessly sell it online, leveraging platforms like Amazon Kindle or offering it directly through your website.
When you’re just starting out, remember to concentrate on nurturing a devoted following, as they will be your future digital product customers. Understand that while the journey may be slow at first, the potential of your online business knows no bounds.
If you’re excited to start a business but don’t have the money to invest, then definitely check out my blog for some great ideas to help you get started.