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4 Best Online Business Ideas That Could Make You Rich in 2020

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Have you lost your job due to COVID-19?

Are you ready to make money online?

Over 2.1 million people have applied for U.S. unemployment benefits, a sign that companies are laying off the jobs in the time of a deep recession. It’s tough to get a new job. The Labor Department reported recently that 21 million people are now receiving unemployment aid that is a rough measure of the number of unemployed Americans.

Amid COVID-19, about 20% of online shopping has increased and offline spending, which is the majority of consumer spending, is still down 35% from a year ago.

Every company is focusing on making their brand presence on the Internet. This is the best time to start your online business.

So let’s get started and go over how to start your online business and make money.

#1. Write a Blog

If you have something to share with others, you should start writing a blog.

First ask yourself, what you can give to others then find the issues others are facing and start resolving their problems by your blogs.

There are many blog ideas which you can think about; health and fitness business, marketing and financial, software review, you have to find your blog niche, on which you can write valuable content.

After selecting your niche, buy your domain and hosting, create a website on WordPress for free. Post blogs consistently on your website and focus on providing valuable content to your audience, your content will drive traffic for you.

Make sure you connect your website with Google AdSense, after getting traffic Google will run ads on your website and give you a commission on that ad run.

You can easily earn $1000+ from one blog it just depends on the time and effort you are putting in your content.

Believe me, you don’t have to be a master in content writing for writing a money-making blog, you can learn this within a week.

#2. Affiliate Marketing

Affiliate marketing is a process in which you connect others to a product and service, and when they buy it you will get the commission on that sale.

The idea behind this is you will earn money online by promoting other products and services.

80% of companies are running an affiliate program and allow you to sell their product and they will give you a good commission.

Amazon affiliate program is one of the most successful platforms for affiliate marketers, Amazon is a brand so people will trust you if you share their products with them, they will easily buy it and you will make money on their purchase.

There is no limit on how much you can earn from affiliate marketing, it’s up to you, and the more people buy from your link the more money you will make.

The best way to get sales is by monetizing your blog with affiliate links, the audience of your blog will buy from that link and you will get your commission.

“Affiliate marketing has made businesses millions and ordinary people millionaires”. – Bo Bennet

Some affiliate program which helps you in earning money online is;

  • eBay
  • Big commerce
  • Blue hosting
  • SEMRush
  • 25 Dollar 1up

#3. Create an Online Course

If you are good at something, don’t do it for free, create your own course, sell it online, and earn money.

There is not any inventory cost you have to put in creating your course, you can record videos by your mobile, focus on providing value to the audience for which you are creating that course.

Think about what is useful for the people out there and how you can help them so that people are willing to pay for your course. Creating your course and selling it will make money while you sleep.

E-Learning Market size surpassed USD 200 billion in 2019 and it will grow over 8% between 2020 and 2026.

Some best platforms to sell your online course are;

  • Udemy
  • Kajabi
  • Skillshare
  • Thinkific

You can also sell your course on your own website, instead of giving commission to these platforms, create your business website, and sell directly to your audience.

#4. Start Drop-shipping Business

Dropshipping business model is a low-risk business; you don’t have to invest in products and even in inventory also. You have to pay for the product you sell to the customer.

Dropshipping allows you to partner with a supplier to display their products in your store. In other words, you can sell their goods on your online store without having any inventory.

Once you’ve made a sale your dropshipping supplier will ship your products from their warehouse to directly to your customer’s doorstep. You don’t have to worry about maintaining the product, packaging, or shipping your products.

You have to promote the product in your online store and make a sale. Find the product which has huge profit potential and sell at your own price to the customer and make money.

Do a complete analysis of the product you are selling, and try to understand the needs of your consumer market before starting the dropshipping business.

Here are the most popular dropshipping suppliers;

  • AliExpress
  • Oberlo
  • Doba
  • Wholesale2B
  • Shopify

Conclusion:

I have tried to inform you the best online business ideas you can start online.

You will get more ideas on online business ideas to earn money on Google, no matter how many business ideas you have, you will not make money until you execute the idea.

Each business idea that I have mentioned has the potential to make you rich, it’s up to you how consistent and hardworking you are.

Have patience in starting every business takes time to grow. Once you make it believe me you will earn more than your job.

I dare you to challenge yourself that I will make money online and tell me which business you will start and when in the comments.

Subscribe for more online money making blogs.

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