Let’s be honest, all of us have thought about finding an alternative to the 9-5 routine at some point in our lives. The long commutes, lack of freedom, and disrespectful bosses can suck the joy out of a person’s life and there’s only so much that a person can tolerate before having a breakdown.

It’s especially a challenge during these times when most of us are working from home, or should we say living at work.

What if we told you that there was a way out of it all? That you didn’t have to waste two hours every day commuting to work.

Intrigued? Well, we won’t keep you waiting for too long. The answer to all your worries lies in starting your own online business.

Stepping Into the Online World

As tempting as it sounds, we suggest that you refrain from jumping immediately into the online world. There are certain factors that you should take into consideration first. Most importantly, you will need to figure out and identify which business model works best for you. 

There are several avenues that you can tap into but which one would give you the maximum return? That’s another question that you would need to ask yourself. We have compiled a list of online businesses that you can start in 2020. Take a look at these and find out which appeals to you the most:

Affiliate Marketing

Let’s start with a few statistics first. Affiliate marketing contributes to 15% of total digital marketing revenue. 81% of marketers and around 84% of publishers use affiliate marketing to capture customer’s attention and engage with them.

The aforementioned statistics might give you an idea why over the years there has been an increase in spending in affiliate marketing.

The idea behind affiliate marketing is to promote other people’s products through an affiliate network. In return, you get commissions every time someone makes a purchase because of your marketing.

At its core, affiliate marketing is all the relationship between three parties which include: merchant, affiliate, and consumer.

Merchant is the person who has created the product/brand that is being offered. Affiliate is the person who promotes the product on their website or affiliate network and consumer is the person who purchases the product.

Becoming an affiliate is not very difficult. All you need to do is find and join an affiliate program. The next step is identifying the products and offers that you want to promote.

Once you have got that covered you get a unique affiliate link that you share on your social media and blogs. Anytime someone makes a purchase after clicking on your link, you get a commission. 

Digital Marketing Services

These days almost every other business has started posting ads on Facebook, Instagram, and Google. There’s a reason for that. Marketing on digital mediums allows businesses to reach a wider audience and generate higher sales.

However, there is a lot more to digital marketing than just posting ads and you can leverage that in your favor. As a business owner, you can suggest new ways in which businesses can save their money by reducing ad spend while retaining their customers.

This can be done through organic marketing tools such as SEO. Content and graphic design too play a huge role in digital marketing.

Then there is social media management. Platforms like Facebook, Twitter, and Instagram have a lot of users who can eventually transform into potential customers. The trick is to ensure that your posts and content are engaging enough.

Finally, there is website development. When it comes to digital marketing, a company’s website is its most important asset. You can work as a website developer. Someone who uses WordPress to develop websites for e-commerce businesses.

Once you have developed the website, you can work on its ranking on search engines through SEO and keyword research. The higher your website’s ranking, the more chances that it will get visitors who might end up converting into customers. 

Freelancing

We all have that one skill, that one thing that we do better than anyone else. Why not make the most of that skill? There are various freelancing opportunities available for copywriters, designers, and SEO experts.

Some other areas that you can also explore include video and audio editing, translation of documents, and transcriptions.

Freelancing opportunities depend upon a person’s experience. If you can advertise your skills properly, there is no doubt that you can find great opportunities online. 

Selling Information Products

With the internet people have access to all kinds of information and they are trying to make the most out of it. Some of them are trying to learn how to play the guitar, others are learning how to knit while some are learning how to garden.

The point is online self-education industry has a lot of potential. So if you have a skill that you feel people would be interested in learning then you market it on the internet. Not only will you help build people up but you will also make some money along the way and that’s never a bad thing, right?

The key is to establish yourself as an authority in your respective field, build trust with your potential customers, and reach out to people who you feel would be interested in what you are offering.

SaaS

Do you have software development skills? If yes, you can use these skills to develop custom software for clients. We can assure you that if your software fulfills a need for clients then it will get subscribers.

Even if you can’t develop the software on your own, you can outsource its development and focus your energies on finding clients for your product. Through software sales and subscriptions, you can generate regular cash flow for yourself.

Final Word

So there you have it. Some of the ways in which you can earn money online. Of course, there is a learning curve attached but once you overcome it, there’s a lot of potential for monetary growth in the online world.

The best part is that you can step into the online world with minimum investment. All you really need is a fast and reliable internet connection such as that comes with Spectrum internet packages. It offers you high speeds at reasonable rates and trust us when we tell you, you will need a reliable internet provider once you start an online business.