Since the COVID-19 pandemic ravaged the world, businesses have had to adapt. Though we were already heading in the digital direction, many companies discovered that selling their products and services online was key to their survival.
If you’ve been thinking about joining their ranks and starting a business in the digital world, you may not yet know which route to travel down. The ideas below may offer the spark of inspiration you need:
Homewares and Cookware
If you’re passionate about kitchenware, then an online cookware store could be worth your consideration. Having a passion for your products will help you connect with people who share your love of beautiful kitchen accessories.
Since it’s strictly online, you don’t have to worry about infrastructure costs. You can set up an excellent working relationship with a business-to-business manufacturer, then build your brand from there.
Suppose you’ve got a desirable skill such as graphic design, art, web development, or content creation. You may have toyed with the idea of being your own boss but are daunted by the prospect of high lease costs and associated monthly payments.
The beauty of freelancing is that you don’t have to work from anywhere in particular to launch a successful online business. You can work from home, the library, your favourite cafe, or a serviced office in your area. This allows you to keep overheads low, and increase your bottom line.
E-Books and Online Courses
Whether you’ve led an interesting life or have skills from which other people could benefit, there’s room to turn those experiences into courses and e-books. While there can be many hours involved in establishing the course or writing the book, it’ll be worth it in the end.
Launch your creation in the online space, work on your digital marketing strategy, and you could be making passive income while you go about your daily business.
Flipping Secondhand Goods
Do you love going thrift shopping in your spare time? Rather than losing money on this hobby, you can turn it into a fun little money-making venture. Look out for those back-corner bargains that you can flip for a tidy profit. With the right eCommerce store, you could become the go-to person for unique or rare goods.
This line of work also has many expansion opportunities. You can move into upcycling when you find old furniture or even become a personal shopper for people looking for a particular type of item.
Many people dream of owning and operating their own online store but have no idea where they would store the many thousands of products such a venture would require. That’s where drop shipping comes in.
You can set up an online store stocking as many products as you desire without ever having to see them in person. All you need to do is align yourself with a third party who can manage packaging and fulfillment. A fulfillment company can reduce overhead and improve distribution of products. You can then spend all your time focusing on building your brand and ensuring everything runs like a well-oiled machine.
If you’re tech-savvy, app development could be the business for you. If you believe there’s a gap in the market for a particular app type, you can set about establishing it. While this does involve a sizable upfront time commitment, it’s mostly cost-free. You may then benefit from monthly ad revenue without having to lift a finger.
Becoming a sole trader or business owner can offer flexibility, work-life balance, and freedom. While you might think it involves investing heavily in infrastructure, quite the opposite can be true. There are plenty of online business ventures just waiting for you to explore.