It is not hard to find online business ideas that can generate a decent income but for most beginners, the hardest part is to find one that suits their needs.
Asking beginners what they think is the best online business idea they would like to start you will find most want something that generates lots of cash quickly.
Unfortunately, we know that unless you get very lucky such opportunities do not exist. Creating a consistent income stream online requires dedication and hard work with no guaranteed outcome.
There are two types of people looking for online business opportunities and only one type will be successful.
The Quick Money Hunter
This is a web hunter that is looking for all the get rich schemes and never settle into starting a viable online business. Instead, they fail and try again somewhere else for the rest of their lives trying to keep the dream alive.
These are the inactive entrepreneur that watches hundreds of videos, read multiple articles and only attempt briefly what does not require a lot of work.
The Entrepreneur In Waiting
These type of people are the ones with purpose who identifies and gathers the right information to develop the skills they need. Not afraid of putting in effort and time they will start their own online business quickly.
The true online entrepreneur will have more solid goals with a well laid out plan to get there. In this fashion, they will be successful in creating multiple streams of income while developing more skillsets.
How Can I Start My Own Business With No Money?
It is possible to start your own online business with no or very little money. The fact though is that no business can succeed without some sort of cash injection for sustainability.
You can start your business with no money but to grow it you will have to invest somewhere in the future. Having no money is not an excuse as all you need is some skills.
Most beginners who start with no cash will join a freelancer platform to earn the first few dollars to get them off their feet. It is easy to make your first $10 or $20 that you can invest into hosting, domains or other resources you might need.
What Can I Sell To Make Money?
This is a question no one can answer for you as you can basically sell anything you want if you are serious about starting your own online business. The easiest way to find a product or service that you can sell is by:
- Selecting a niche that suits your skills
- Research the demand for products in that niche
- Establish the profit margins for various products
- Check cost and ease of delivery
- Check long term sustainability of the product
- Make sure the product is marketable online
At the end of the day, you would like to sell something that you have the knowledge and skills for. The whole idea of having your own business is to love what you do because if it makes you the money you are going to do it for a long time.
What Products Are Easy To Sell For Beginners?
Tried and tested there are several online business ideas that can give total beginners a good start to creating their own business online. The best a beginner can expect to get out of their first attempt is the skill sets they will be developing while learning.
These skill sets will have more value than you will ever make in money as they will open all the doors to online business for you.
The easiest businesses to start with no money and no prior knowledge are:
- Freelancing
- Selling Digital Products
- Graphic Design
- Blogging
- Print on Demand
All of these can be started 100% free with only input of time and effort. Patience is required as all successful online businesses take a while to yield a sustainable income. This is because there are so many factors that will affect your success which is not always in your control.
How Much Money Can I Earn With My Own Online Business?
Once again very difficult to answer as most people starting an online business will fail quickly and give up. This is not because you might be doing something wrong but it is merely a case of giving up before results start showing up.
Patience and hard work is the key.
If you persist then your income is only limited to your effort and quality of the product you provide. Most beginners can quickly see incomes from between $20 and $200 in the first few months. This is unless you have a unique product with good profit margins.
In a year or two, you can get to generate anything between $2000 to $10000 depending on your niche. Making money from online income streams are never guaranteed but the possibility is always there.
It must also be kept in mind that “free” startups usually don’t generate huge profits and that is why investment at a later stage will be essential. Only when reaching this stage will you be able to scale up your income.
By this time you will also have developed the skill sets required to start several streams of income. One income stream is like putting all your eggs in one basket which you cannot do if your only income is going to depend on it.
Online Business Ideas — Conclusion
When you are looking at starting an online business you have to be dedicated to the long term as it is not an overnight success story. You will require patience and put in the hard work to succeed.
You must also accept that you might fail a few times but by then you will possess skill sets that will get you going again quickly. Sooner or later you will have your own successful income streams running that will make you an experienced online entrepreneur.
Online income streams are not guaranteed so make sure you apply the skills you learn and over a period of time develop several income streams.
At Skillscloud I focus on the skills we learn together that we will need to be successful as online business entrepreneurs.