A common mistake that many people make when it comes to validating their business idea is that they’ll need to invest hundreds or thousands of dollars developing an MVP. You actually want to spend very little at this stage.
While you’ll certainly have higher levels of success if you can nail creating and marketing your own unique product, from my own experience (and that of many other entrepreneurs), I know the extremely high costs and risk associated with starting a product-based business.
The great thing is that creating your own professional-looking social media is incredibly easy with a tool like Canva, which you can use by signing up for free. Even with their free version, you have access to thousands of templates and images.
I’m really interested in the wave of productized consulting that seems to be swelling up recently. To put it in layman’s terms, an individual (usually a freelancer or consultant) who has a very specific skillset packages their services up in a way that makes it appear like a product. Some people are hesitant to work with individual freelancers, but if you look and sound like a company, they are much more at ease.
Sign up for a reputable affiliate network: Aside from Amazon, there are dozens of large reputable affiliate networks, such as Share-A-Sale, Clickbank, and Skimlinks, that specialize in connecting you with merchants who are looking for affiliates to sell their products. They charge relatively low commission fees for the privilege of connecting you with merchants, and the merchants on these sites tend to offer much higher commission percentages or set dollar amount payouts.
Building a YouTube channel is a lot like starting a blog or website, except that you’re working in video—not writing. The first step is to choose what kind of videos you’re going to create. Most successful YouTube channels fall under one of two categories:
It doesn’t pay much, but if you’re a healthy person and want to make a bit of extra money online, the AchieveMint app will reward you for doing things like walking, tracking your food, or taking health surveys. AchieveMint works by connecting to fitness apps you might already be using like Fitbit, RunKeeper, Healthkit, and MyFitnessPal and then giving you points for certain actions. For every 10,000 points, you earn $10 with no limit on your earnings.
And while freelancing might not be as scalable as some of the other ideas we’ve spoken about, it’s not uncommon for solopreneurs to build healthy six-figure freelance businesses for themselves. (In fact, I’ve interviewed tons of them on my podcast!)
Of course, there’s a higher price per product and your margins are lower, but you’re able to start your online store with little more than a Shopify theme and some hosted images of your products. When a customer makes a purchase, you in turn buy the product from your supplier who then ships it directly to your customer.
Because of the strong interest in quality of life and work-life balance issues, life coaches have become popular in recent years. Unlike the intellectual demands of becoming a technical or executive coach, life coaching can be successful if you possess common sense, a respect for family and a commitment to enjoy life to the max every day and helping others do the same.
Take a look at what problems you’re facing right now in your life, whether it’s something that annoys you a little bit, or something that can potentially uproot your entire day. See if you can find a solution to that problem, if you’re experiencing this issue, you can be pretty sure there are others out there who are going through the same thing.
There are a few different ways you can accomplish this. First, you should include a good, professional picture of yourself. And no, the picture of you in your Hawaiian-print shorts and “Kiss the Chef” hat from last year’s summer barbecue won’t do. Giving your visitors a professional image to associate you with will go a long way toward establishing your credibility.
Instead, if you can find a solid product that’s already being manufactured at a reasonable price from a marketplace like AliExpress, LightInTheBox, or DinoDirect and market it to your audience, you’ll have the start of a money-making eCommerce machine.
Every day, there is a huge fluctuation in FX markets. If you have a combination of technical and fundamental analytical skills and some cash flow, you can become an online currency trader. Places like www.forexfactory.com are great for learning the basics. Remember, this is leveraged cash, so if you make the right decisions, you have a chance to profit big! At the same time, the risks can be high if you don’t have a money management strategy in place.
If you’ve got experience and expertise in a specific area of business, there are hundreds if not thousands of business owners who would love to jump on a phone call and pick your brain. This can be an easy way to make extra money online and to hone your skills to use in your consulting or freelance business. Sites like Clarity.fm let you create a profile where entrepreneurs and business owners can pre-pay to book a phone call with you for a set amount of time. Whether you’re an expert in raising money for startups, building apps, or running a restaurant, you can make extra money selling a few minutes of your time to people in need.
Just head out to your local cafe, set up a small sign saying that in exchange for a coffee all you need is 10 minutes of someone’s time, and spend the whole day talking to people. All you really need are some concept photos, even a simple slideshow, and then talk to as many people as you’d like to gather valuable information.
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For the former, do a smoke test by building a simple landing page advertising your product and what it’s all about. You don’t need a ton of bells and whistles; all you need to know is whether or not people will actually pay money for it.
Do you know the ins and outs of search engines and have skills in platforms like Google Analytics? The owners of a lot of smaller companies don’t realize how much of an impact search engine optimization (SEO) can have on their business. Educate those business owners on the power of SEO to help transform their websites into a more SEO-friendly property. Use your skills to show business owners how to read and use their analytics data the right way, and how to properly use keywords and structure content to get more traffic.
So you must walk a fine line, making sure that you keep confidential client information confidential, while (1) proving that you’ve satisfied the needs of other clients like them with great results and (2) demonstrating your ability to customize your service to meet their personal, unique needs.
With North Pole Notes, subscribers sign up to send personalized and unique letters as Santa Claus, not just in the holiday season, but ALL year. Perfect for parents, Godparents, Grandparents, Aunts, and Uncles, or just about any gift giver!
The benefit here is that you don’t have to risk buying up stock in a product and losing money if it doesn’t sell. The entry barrier is lower and you don’t have to invest nearly as much to get started.
As long as there is still the written word, there will always be editors. Freelance editing and proofreading not only pays a decent hourly wage, it also gives you the chance to read about potentially interesting topics too. What’s more, pursuing freelance writing & editing as a business idea can afford you a lifestyle that lets you travel the world as a digital nomad. You can find lots of job postings from companies and individuals in need of writing, proofreading, and editing services on Upwork, which makes this a high-demand opportunity to make money online.
Phase 3: Quickly write, record, and edit the course content. As he already knew there was demand, it made sense to create the content as quickly as possible. He could always go back and update or edit based on feedback from his initial students.
You could travel the world with ease, create a comfortable lifestyle for yourself and your family, and achieve financial freedom. You could finally escape the constraints of the 9-5 lifestyle and own your time completely.
A lead magnet is basically a piece of content that you give away for for free to potential customers, in order to capture their attention and convince them to hand over their contact information. Most people aren’t going to sign up to your mailing list just for the sake of it, so a lead magnet allows you to ask for something in exchange for something your audience finds valuable.
Online sites like Etsy and ArtFire are platforms that make it extremely easy for crafters who can produce a steady supply of quality handmade items, like crocheted blankets or unique painted glassware. Startup costs are extremely low if you purchase your materials in bulk from a craft supplier, and if you can turn around orders quickly, you’ll be making a profit in no time at all. It’s even possible to turn your store into a full-time gig.
Like I said, this process can be a bit overwhelming. And that’s why I put together this free master course to help break this entire process down into easy to follow steps that’ll get your blog off the ground and generating readers in less than 1 week.
If editing and advising college students on how to write compelling 500 word essays on topics such as “You were just invited to speak at the White House. Write your speech,” seems like something you would want to do, you can make good money online.
Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found on her personal blog Wattlebird, and exploring all that her home state of Michigan has to offer.
We went micro-niche with Chicken Armor poultry saddles when we were unable to find chicken saddles/aprons that were affordable and didn’t need to be laundered. Chicken saddles are worn by chickens like a vest and help to protect their backs against mating and molting injuries.
It takes time and effort, but website owners like myself and Pat Flynn of Smart Passive Income, have built life-changing careers through affiliate marketing. In fact, Pat even publishes his income reports online, showing how he made over $2 million in the past 12 months alone.
Along my journey, I’ve launched four separate online businesses. The first one lost me $6,537 in a matter of months, while I completely overestimated the audience size for the second. Both shut down very quickly.
People on your email list are not only more likely to be customers, but you can use the power of email to help nurture a lead by regularly sending them quality content through something like a newsletter.