Posted on by Tiffany LaToi

Are you Ready to start a business but not sure what type of business to start? Coming up with a good business idea is often one of the hardest hurdles. 
 
Everyday more and more women are wanting to start online businesses and be their own boss. They are looking to leave their daily grinds for something that is exciting and feeds their passion. I often hear women talk about their dreams of creating a business but not sure where to start.
 
The cost of setting up a new online business has never been so low. It is now easy to start a business from scratch without spending a fortune.  Technology has made starting your own business easy, affordable and possible. All you need is a phone, a computer, an internet connection and some motivation.
    So I wanted to give you the Top 20 Online Businesses in 2020.  I want to inspire you to create a business that also gives you the flexibility to work from anywhere & make money while doing so.  Sometimes all you need is the right business idea to make it big.

     

    HERE ARE THE TOP 20 ONLINE BUSINESS IDEAS FOR 2020

     

    #1 SELL DIGITAL PRODUCTS

    If you want to set yourself up to make some serious passive income every month, without the need to start an online store with physical products then consider selling Digital Products. 

    An easy way to make money from the internet is to sell informational products.  In order to do this you need to establish yourself as an expert in your niche/industry.   Use your knowledge & skills to educate, teach and build people up while making cash along the way!  If you are an expert in your field or know more than the average person in your field then you should be selling informational products.  Your products could be sold to individuals or businesses. 

    The options are endless.  Trust me there is a market ready for what you are selling.

    AVERAGE MONTHLY INCOME: $6,000

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    #2 START A BLOG & MONETIZE ON IT

    Blogging is one of the fastest growing business trends on the web. Blogging is an online business where a ton of people all over the world are making money from the internet. If you think you have good knowledge on a particular subject, you can make money by sharing your knowledge to a wide range of an audience via your blog.

    There are millions of blogs out there about any topic you can think of. When coming up with your idea, think about topics that you love, topics you consider yourself an expert in and ones that you regularly help others with.

    There are thousands of bloggers who are making six figures by writing about their passion or expertise.

    AVERAGE MONTHLY INCOME: $5,000

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    #3 AFFILIATE MARKETING

    Affiliate Marketing is a business where bloggers and influencers recommend services or products they like or find useful, something that will be genuinely helpful for their followers, and earn a percentage of profit for each sale that follows. Basically you get paid to promote other people’s products and services.

    The thing I love about affiliate marketing is that it is truly passive. Once you set it up, your only real job is to promote & increase traffic to your site and promote the products through social media, email marketing and your blog. 

    Affiliate Marketing is a GREAT business opportunity!  You do NOT have to have any investment money to get started.  The amount you get paid can vary a lot but there are some really great affiliate programs out there!  I suggest starting with brands that you know and enjoy using.

    Some of the biggest companies in the world have affiliate programs. Google those brands + ‘affiliate program’.   Do your research, I have found that some businesses have them but don’t advertise them on their website.

    AVERAGE MONTHLY INCOME: $1,000-$7,000

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    #4 COACHING, COURSES & CONSULTATIONS

    It has become easier to share your knowledge or expertise online. If you consider yourself an expert or passionate about something, then you can convert it into some serious cash!  If you have a great deal of business experience and knowledge, why not create a business that helps aspiring entrepreneurs find success?

    People buy courses and pay for professional advice all the time. If you’ve got a service or training course to offer, then starting an online course, consultation, or coaching business is for you!

    Coaching, Courses & Consultations is big  at the moment! Think about areas that people might need help in.  As a business consultant, you can use your skills to help new business owners get off to a good start and help experienced entrepreneurs keep up with demand.

    AVERAGE MONTHLY INCOME: $7,000

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    #5 MEMBERSHIP WEBSITES

    Does making an impact while earning a consistent monthly income and a bunch of loyal clients sound good to you?

    Starting a membership site is probably one of the best things you can do for your business.  If you are an expert in your industry, then you should definitely think of starting a membership site.

    A membership site is a secured part of your online business where only members who subscribe can access the content.  It’s a site that offers “specific information” to people; for a monthly recurring fee. A successful membership site can generate income monthly without you lifting a finger.

    Members pay a monthly fee to be a member. It’s a great way to create reoccurring income.

    AVERAGE MONTHLY INCOME: $5,000

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    #6 ONLINE BOUTIQUE

    If you love fashion and are looking for a way to work from home, then an online boutique can be the perfect way to do something creative and PROFITABLE!

    The E-commerce industry continues to grow daily!  Year after year online shopping continues to increase and platforms like Shopify makes starting an online boutique super easy.

    An online boutique, can be accessed & viewed all over the world. I know boutique owners who are making 6 figures MONTHLY!

    AVERAGE MONTHLY INCOME: $1,000-$7,000

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    #7 GRAPHIC DESIGNER

    Are you good at designing? If so, it’s time to sell your talent.  There are loads of people out there who are looking for graphic artists to contract their graphics jobs to. If you are a graphic designer, then you can take your services online.

    You can create logos, flyers, promotional material, mailers, business cards, print or digital ads, and other designs. Companies are always on a lookout for graphic designers for branding purposes.

    In addition, If you are good with graphics, you can write an e-book on ‘How to create your own graphics.  There are a ton of people out there who are willing to pay for something like that.

    AVERAGE MONTHLY INCOME: $4,800

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    #8 WEB DEVELOPER

    There are over 4.5 billion internet users in the world. 7 out of 10 small businesses have a website. This is why web development is such a valuable skill.  People are opening new websites on a daily basis. Statistics show there are well over 350 million active websites on the internet.

    Every business needs a website!  Another great way to make money while working from home and starting an online business is by building online websites for others.  You could work as a developer to build eCommerce sites and help people develop their own business ideas for online web pages.

    Web design is an online service business that has been around for a long time; yet, the market is not saturated. With a growing demand for websites, forums and blogs; the momentum for web design services will never die down.

    To get started as a web designer, you don’t need to know how to design a website or blog.  All you need to do is to master the automated web design software.

    AVERAGE MONTHLY INCOME: $4,000-$6,000

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    #9 DROPSHIPPING

    To sell a product, you need an inventory, right? Well, that’s how it used to work... until drop-shipping came out.

    Drop-shipping is relatively a new concept, but a great one! With the enhanced growth of the online business, entrepreneurs are eager to get involved. Drop-shipping requires a low investment. 

    So, what is an online dropshipping business all about? It’s actually super simple.  As a retailer, you are not required to keep any products in inventory.  The products are shipped directly to the customer from the wholesaler or manufacturer and the retailer earns a profit.

    The customer places an order on your website, you sell an item and the manufacture ships the product directly to your customer.  Simple!

    This is such an amazing process because it eliminates the need to purchase and store inventory.  All you have to think about is running your online store, collecting payments, and customer service questions or concerns.

    You can sell virtually anything and you are not limited to just one supplier. 

    AVERAGE MONTHLY INCOME:  Varies greatly depending on the products you are selling.

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    #10 SOCIAL MEDIA INFLUENCER

    Data shows that influencer marketing will be a 10 billion industry by 2020! 10 BILLION!

    A social media influencer is a person who has the power to affect another person’s buying decision based on their online presence. They use a variety of social media platforms to express their opinions on a specific brand or product.  Platforms such as Instagram, Snapchat, YouTube, Facebook or Twitter. With the rise of social media channels, now consumers are increasingly turning to niche influencers to get advice on a product they are looking to purchase.  Bloggers, celebrities, and industry leaders are considered examples of social media influencers.

    Being a successful social media influencer can be a great way of earning side income in your free time.  I recommend that you find your niche, build a website, build a brand, publish good content, utilize your personality, engage with your audience, network, be consistent and promote!  

    AVERAGE MONTHLY INCOME: $500-$6000 per post

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    #11 AD MANAGER

    Want to have a business managing ads for other businesses?  An Advertising Manager is someone who plans and directs the promotional and advertising campaigns of companies in order to generate interest in a particular product or service.  This is a growing market and a great online business to supplement your monthly income.

    Think about all of the Instagram and Facebook ads you come across daily!  Someone had to create and manage those ads for businesses. This is a booming and growing business.

    AVERAGE MONTHLY INCOME: $4,200

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    #12 SELL HOMEMADE GOODS

    Jewelry, handmade clothing, vintage, party decoration and crafts… there are so many handmade goods out there, and unfortunately… people often overlook this one because it isn’t one of the ‘fancier’ online options but there is a huge market for it.

    If you are a crafty person, you should take a look at ETSY, the largest online market for homemade and vintage goods.  Etsy is a good marketplace for crafters because there is potential to access an audience who is already looking for handmade items right on the site! 

    Startup costs for this business idea are extremely low.  This is a really great side hustle.

    AVERAGE MONTHLY INCOME: $3,000

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    #13 FREELANCER OR VIRTUAL ASSISTANT

    Offering a service is probably the fastest way to earn an income if you are looking for a new online business. Do you have a service that you can help individuals or other businesses with?

    Essentially you are trading hours for money but have control over what you’re charging.

    Think about what you’re good at.  Are you good at Facebook ads?  Are you good at social media management?  Are you good at copy-writing?  Are you good at creating graphics?  Are you good at creating sales funnels?  Are you good at creating websites?  For this type of business, you need to play to your strengths and do what you are good at.

    In addition, you can offer your services on the internet as a virtual assistant.  This is a great way to create an extra stream of income.  Virtual assistants are in high demand by corporations, freelancers, and a variety of businesses.

    Everyday small and big business owners are looking to hire and pay virtual assistants to help them handle some of their job responsibilities.

    As a virtual assistant you can handle various job roles such as answering emails, making phone calls, online marketing, making travel arrangements, products listings, typing letters/documents, research and so much more!

    FREELANCER AVERAGE MONTHLY INCOME: $4,000

    VIRTUAL ASSISTANT AVERAGE MONTHLY INCOME: $4,000

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    #14 CONTENT WRITER

    Content writers are in huge demand, it is one of the most outsourced jobs.  If you are a skilled and creative writer or have a passion for writing, you can earn good income from the internet!  Ghostwriters do not get the credit for what they write BUT they sure do make a lot of money!  It is a VERY lucrative career.

    There are a ton of websites you can secure high paying writing jobs from. Some of my favorite sites where you can bid for freelance writing jobs are:

    www.fiverr.com

    www.freelancer.com

    www.upwork.com

    You can specialize on guest blogging for clients, article writing, eBook writing or freelance writing. From website copy to blog posts and email newsletters, you can write content for a variety of things. You can also add editing & proofreading.

    Experienced freelancers earn anything between $1000 to $5000 in a week.

    AVERAGE MONTHLY INCOME: $6,000

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    #15 CONTENT MARKETER

    As the digital marketing industry becomes more specialized, the need for skilled content marketers is growing fast. 

    Content marketing is a form of marketing focused on creating, publishing & distributing valuable, engaging and relevant content to attract and retain a defined audience and to drive profitable customer actions.

    Content marketing is a specific niche within the field of digital marketing.  It is a way that businesses connect with their audience outside of selling them their brand or services. 

    Some examples of content marketing are:  blog posts, social media posts, emails, gated content and video.  Normally the material helps the reader, answers a question or solves a problem. 

    Startups, small businesses, and social media influencers are always looking to increase their online presence by promoting high-quality, engaging content.  As a content marketer you would need to understand how to position and promote content so that it reaches the correct audience for your customers.

    There is a huge demand for content marketers!

    AVERAGE MONTHLY INCOME: $4,000

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    #16 SMARTPHONE CASE

    There are more than 2.5 billion smartphone users in the world, and the number is increasing every day.  With smartphones costing between $500 - $1000 (or more), customers have no problem shelling out $20 to $80 on a case that will protect their investment.

    Since everyone worries over the safety of their Smartphone, Smartphone cases are one of the top-selling mobile phone accessories. As a result, mobile case sellers are bringing in 6 or 7 figures by selling smartphone cases in huge volumes.  25 billion was spent on phone cases in 2017.  Which means there’s an ample amount of opportunity for you to grab a slice of the growing market for smartphone cases.

    AVERAGE MONTHLY INCOME: $6,000

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    #17 SOCIAL MEDIA CONSULTANT

    Billions of people are on social media, and businesses are spending millions to reach their target audience through a variety of social media platforms. If you have enough time and you are good with social media platforms such as Instagram, Facebook or Twitter, then you can start an online business managing social media accounts for businesses, celebrities, and other busy entrepreneurs. 

    As the craze for social media content increases, so does the competition for social media attention.  Business owners are often too busy, overwhelmed or under-educated about the importance of a social media presence to spend time developing and implementing a great social media strategy.

    As a social media consultant, you can help small businesses determine the best tactics, posting schedules and content for their target audience.

    If you’re always online and understand how the platforms work, then you can put your knowledge to good use and start your own social media marketing business.  You can make some amazing cash from this type of online business.

    AVERAGE MONTHLY INCOME: $6,000

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    #18 Travel Consultant

    In 2018 travelers spent 1.1 trillion traveling.  If traveling is your passion and you are always updated about things like best airplane ticket options and hotel deals, then this may be a great business for you.

    You can start by helping your family and friends, securing the best travel deals. It will help you earn free word of mouth publicity and kick start your freelance travel consulting business.

    Create pages on platforms like Instagram, Facebook and LinkedIn to promote your business and connect with people who want to leverage great deals.

    When you develop a solid follower base, you can also collaborate with travel agencies to cut exclusive deals for your customers.

    The start-up costs are relatively low and there are plenty of opportunities for someone with passion to sell travel!

    AVERAGE MONTHLY INCOME: $6,000

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    #19 PODCASTING

    More people are listening to podcasts than ever before, and it keeps growing every year. 150 million people listen to podcasts at least once a month.  Podcasting is a fun and affordable way to promote your business, connect with your audience and showcase your expertise. 

    If you run a business or have a brand you’re trying to build, It’s important to look at all the different ways you can communicate to your audience.  Podcasts are one new outlet that is providing businesses an excellent way to connect with their audience.

    Podcasts allow you to position yourself as an expert in your industry. You don’t need to be a techy person nor does it require a lot of money to learn how to start a podcast.

    AVERAGE MONTHLY INCOME: (depends on your # of downloads) $500-$2500

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    #20 YouTube CHANNEL

    Several YouTubers are making thousands of dollars by vlogging about their passion, skills, travel, food, reviews, and so much more.  Pick a niche you are passionate about and have sufficient knowledge to create engaging and unique videos. The more entertaining content you post, the more views and subscribers you will gain.

    Several successful YouTubers earn millions by posting videos. However, an average YouTube earns around $3 to $5 per 1000 views.

    Before starting your YouTube channel, learn about YouTube guidelines and how to use its tools. Also, invest in a good camera and microphone to make quality videos for a greater earning potential.

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    I really hope you found today's blog helpful!  More importantly, I hope it lit a fire in you to start exploring.  The possibilities are endless. 

    Remember your perfect online business idea should consist of three things:

    1. It should be something you like doing,
    2. It should be something you are good at, and
    3. It should be something that people would pay for.

     

    XOXO 

    Tiffany LaToi