3 Common yet Successful Online Business Opportunities

Perhaps you are one of the people looking forward to starting an online business but is unsure where to begin. Are you looking for convenience? Profitability? Are you unsure of the risks involved? If you are, I bet you’d do anything to get the fundamentals to set up a successful online business.

You must have come across news articles and blog stories of people running successful online businesses. They say the profits are great, some work from the convenience of their homes and they are able to manage their time. Most do not even consider getting the conventional nine to five jobs.

It sounds too good to be true? But is it?

In 2017, the number of successful online businesses keeps growing. The owners will swear that online businesses are the future and the sooner you get into it the better.

Why an Online Business?

As compared to an offline business, an online business allows you to maintain low overheads and expect high margins.

The beautiful thing about an online business is that it provides access to a worldwide market. It has no geographical limitations and there are no specific hours of operation.

Who doesn’t like limitless freedom? An online business allows you the freedom of not being tied to a particular desk or location from nine to five. It can be very empowering.

However do not use this free will to slack off. To be successful you need to learn effective time management and put in hard work.

Drop Shipping

One of the common yet successful online business ideas is drop shipping. It is a business model that allows you to sell inventory that you don’t own. You develop your own website which you use to sell goods.

When you receive an order, you act as a middle man and pass that order to the drop shipping company. The company then packs and fulfills the order to the customer.

How do you make your money? Your profit is the difference between what the drop shipping company charges you and the price you charge customers on your website.

The beautiful thing about drop shipping is the very low cost of capital. All you need to invest significantly is your time. Drop shipping provides you with the opportunity to offer a wide variety of products without buying and managing that inventory upfront.

It has its downside though. The margins tend to be low making it difficult to compete with established retailers and manufacturers. You also have little control over the brand experience.

Freelance Online Writing

There has been an increase in the number of online freelance writers. This is another common yet successful online business concept which allows people the freedom to work and make money online.

There are numerous ways of making money as an online freelance writer. You can make money blogging, writing articles, copy writing, you name it.

Some online writers have built websites and blogs which they use to source for business from clients. A good number of them offer affiliate services on their sites.

You will have to sharpen your writing skills and be patient as you grow your experience. A number of experts who have been in the writing industry for a number of years offer tips and training for newbies.

Social Media Management

Are you a fan of social media? Do you spend most of your time on Facebook, twitter, Instagram and the like? Then you are sitting on a brilliant business idea. Not all big businesses have someone to manage their social media accounts. Yet almost every big business needs social media presence to reach their customers directly.

Although it is a relatively new idea, it is quickly catching on and more people are considering it as a lucrative business opportunity. As a social media manager, you will be able to help businesses grow their online following in return for a commission. Imagine how many business opportunities you can help expand their reach!

In 2017, the number of successful online businesses keeps growing. The owners will swear that online businesses are the future and the sooner you get into it the better.