With so much fear, uncertainty and doubt as well as a general distrust of big businesses in the world today, it’s no wonder more and more people are choosing to become independent entrepreneurs.
After all, there is nothing quite like starting your own business to feel like you’re making an impact on the world. And with small business ownership statistics only continuing to rise, now is the perfect time to get started.
So what kind of business should you start? Depending on your skillset and interests, there are many different types of businesses you could potentially launch. But which one is right for you? To help you get started, we’ve put together a list of some of the most popular online business ideas that will have an impact on your life in a positive way:
A children’s education app
Education is one of the most important things in life, but unfortunately, in many parts of the world, it’s out of reach. In the U.S. alone, one out of every five children is growing up in poverty. And while many of these families are working hard to provide their children with good nutrition and a quality education, many struggle to meet their basic needs.
A children’s education app could help solve this problem. By developing an app that teaches students the core subjects they need to succeed in school at an early age, you can help improve the quality of education children receive while also helping make it more affordable. And since you can run this business from home and have a flexible schedule, you can work around other obligations like having young children.
A digital magazine
Magazines have been around for decades, and it looks like they aren’t going anywhere anytime soon. In fact, according to the American Society of Magazine Editors, print magazine readership grew by 83% between 2016 and 2017, making printed magazines more relevant than ever.
If you have a particular subject that you’re passionate about, you could start a digital magazine to connect with other people who feel the same way. And since many people prefer to consume content online these days, starting a digital magazine has some key advantages over print, such as lower costs and more flexibility.
You can choose whether you want to charge for your magazine or make it available for free. Either way, you can make a real impact on the world by spreading your knowledge to others through your passion.
An online gaming platform
If you love video games, you’ll be happy to know that there is a ton of money to be made in this industry thanks to in-game purchases. In fact, according to Newzoo, Asia Pacific’s video game market alone is expected to be worth $108 billion in 2021.
But how do you get involved in such a lucrative industry? One way is through creating an online gaming platform that allows users to compete against each other. Not only could this be a fun way to make some extra money, but it could also make you a ton of cash thanks to the high costs associated with running such a platform.
Since you can run this business from home, it’s a great option if you’re interested in making some extra money while also having more flexibility in your schedule.
A fitness app
Becoming more fit and healthy has become an important part of many people’s daily lives. If you have a special skill or area of knowledge related to fitness, you could share your expertise by starting a fitness app.
This could be a great way to earn money while also helping others become healthier and feel more confident about themselves. And with the fitness industry expected to reach nearly $35 billion in revenue by 2022, now is a great time to get started. Plus, this is a flexible business idea, so you can work on your app on a part-time basis if you’re still in school or have other obligations.
An educational mailing list
If you have a unique skill or area of knowledge, you can use that to start an educational mailing list and make money through a subscription-based model. You can use podcasts, ebooks, live webinars and more to share your expertise with others. And since many people prefer to learn online these days, this could be the perfect way to monetize your expertise while helping others.
While many businesses are struggling right now, this is one that seems to be thriving through all of the uncertainty in the world today. Plus, it’s a relatively low-cost way to start your own business, making it an attractive option for people of all skill levels.
Similar to buying and selling real estate, internet domain trading can be done from the comfort of your own home. The short version is that some Internet domain names are more well-known, in-demand, and more valuable than others. After extensive planning and research, successful Internet domain name seekers buy high-value domains at discounted prices at online auctions, which they then sell to the highest bidder for a handsome profit. For example, www.hotels.com was sold in 2001 for $11 million.You have to put a lot of time, effort and focus into the market if you want to make a living selling domain names.
You can’t just pick up random domain names, as you will then have a bunch of unattractive websites. Instead, you’ll need to do your homework on SEO optimization of the websites you see up for auction, forecast which businesses and industries will be looking for new domains, and get creative with unusual names that you can afford cheaply but easily change. Also, patience is a virtue because certain domains you have purchased may not fetch the right price for months or even years.
But the advantage of this online business idea, of course, is that it is 100% online. It’s just you and your computer.
Starting your own business can be a scary, uncertain experience. But it’s also one of the most rewarding things you can do. And with so many different types of businesses available, it’s easy to find something that’s both suitable for your interests and skillset.
So the next time you feel like you’re overwhelmed or things aren’t going according to plan, remember that this is all part of the journey. And, if you need help with any of these online business ideas, we’d love to assist you with your next venture.