We are now half way through 2019 and I thought it would be a good time to cover my seven best small business startup ideas for this year.Starting an online business is not difficult if you know what you are going to do, develop a winning business plan and execute the plan the right way.
Hundreds of thousands of online business owners are making 6 to 7 figure incomes every year. I would like to say that you could do the same. They had the courage to take the leap, put in the hard work and time to gain their success. The question I have for you is, do you have those same traits for going after what you want?
The following 10 sections are business ideas I think are great opportunities for beginners.
1. Start a Website and Monetize it
My website is dedicated to starting an online business using a website. Starting a website or blog is so much easier today. You can even start a free blog (website) using several website providers using a sub-domain.
Remember that the money is not going to start rolling in on day one. It takes a few months for a blog or website to build traffic naturally. So, I don’t want you to think that the commissions are going to start rolling in right away. The top blogs are earning more than $50k per month.
Monetizing a blog or website is the best way to build an income source for future growth.
You can use your blog, or website, for selling ad space, digital products, e-books, coaching services and so much more.
Here are some resources that can help you get started:
How to Customize WordPress Blog
How to Increase Blog Traffic
2. Use Affiliate Marketing
Affiliate marketing is basically the process of earning a commission by promoting somebody else’s product. You can even promote these products using a blog just like I stated in the first point (Start a Website and Monetize it).
An affiliate marketer can expand the list of products that they are able to promote. Instead of promoting a single e-book, they can promote items from vendors, like Amazon, eBay and thousands of other affiliate network products.
After signing up for a company’s affiliate network, they receive an affiliate link that they place on their blog. A commission is awarded when a visitor purchases an item using the affiliate link. Commissions can range from 5% to 75% depending on the product and affiliate network the blog owner uses.
Please note, that affiliate should have some experience with SEO marketing and content writing. It is a free way to advertise the blog and gain search engine rankings.
Wealthy Affiliate – An affiliate community, that is free to join, which will help new affiliates learn affiliate marketing and build high ranking blogs.
Affiliate Marketing Training Courses
3. Start an E-Commerce Website
Starting an e-commerce website makes our number 3 pick on our 10 best small business startup ideas list.
If you go the route of an e-commerce website, you will have to compete against the old-school retail business that may already have a footprint in the e-commerce space. Affiliate marketing is so popular for this reason. The same old-school business has affiliate networks that allow affiliates to earn a commission by helping them to sell their products.
Should you decide to go with the e-commerce route, you will need to find vendors who have products that are in the market you are selling. These vendors are known as drop shippers. They have products in a warehouse. Your e-commerce website will sell the product, collect payment and shipping info. You then purchase the item at a wholesale price and have the drop shipper send it directly to your customer. You will keep the difference in the purchase price and wholesale price.
The biggest problem with an e-commerce website it that the margins can be very thin. E-commerce owners need to sell many items a day to make a decent living. The wholesale cost, shipping cost and customer acquisition cost tend to eat almost all the revenues after each purchase.
4. Create Digital E-Books and Monetize Them
n our journey of listing the best online business ideas for beginners, we have come to creating digital products or course and monetizing them. Writing an e-book is not a difficult task.
Publishers will develop a 25-page PDF that will walk someone through performing some sort of task that you may have some expertise in. The big categories are making money online, weight loss and relationship help.
Writing e-book in other markets will set you apart and could help you gain popularity.
Publishers can sell their e-books using websites such as ClickBank, Amazon or can sell directly through their own website.
E-book creation and marketing resources:
EBook Compiler.com – Software to create and publish eBooks
Sqribble.com – Create AMAZING eBooks & Reports In 5 MINUTES
5. Start a Home Daycare
A home daycare is not an online business, but it is good small business for those who love children. Daycare is always a strong market to run a business. Home business can be started with almost no capital.
You will need to research your local government requirements for a daycare and make sure that you meet each one. All most all states require that daycare providers take a class and/or get a daycare licence. After you complete the requirements and pass inspections, you can start marketing your new small business.
Resources regarding daycare businesses.
6. Sell Handmade Products on your e-Store
Do you like to make things with your hands. My wife loves making beaded jewelry as a hobby and sells some of them at our local farmers market. She has been kicking around the idea of starting her own website to help her reach more customers and grow her hobby into a business.
You can turn that hobby of making handmade products into your own online e-store. Simple start building your inventory while you are developing your e-store. You can market the e-store in your local area by placing adds in the local paper, on Craigslist or even getting a website decal for your car.
7. Flip Homes as a Small Business
Do you like working on do-it-yourself (DYI) projects around you home? Flipping homes as a small business is a popular and very lucrative business.
The key in flipping homes if acquiring the properties at a low price point and flipping the property quickly. You would need to get the property at a 30% to 40% discount. Foreclosures and tax properties may be to best choices.
Another barrier is having the capital for getting the repairs done quickly. Many flippers find that they bite off more than they can do. So have a set budget and a flipping plan in place before committing to purchasing a property. Use contractors when you can afford them.
Real Estate Flipping Resources
Thank you for stopping by and reading my seven best small business startup ideas posting. I did enjoy putting this list together. There are a number of other small business startup that could have easily been on this list. I will cover those on other articles.
Please leave a comment below and let me know how I am doing. You are part of my audience. Let me know that I am meeting your expectations or that I need to change things up.
Have a great day.
To learn more about me and my experience, check me out my About Doug page.