Can’t decide what internet business suits you? Need ideas for an internet business? Maybe I can help.
When you’ve been on the internet for a while, you’ll learn that most offers of quick profit should be ignored. Don’t be seduced by flashy promises. Get rich schemes won’t bring you lasting success if by some chance they are even legit. On the internet, as is also true in the real world, hard work is key.
There are plenty of solid ideas for an internet business. It all boils down to what you know and how you can apply it. You can refine that list of ideas to a few basic categories and come up with a short list. I recommend that you choose the business type where you can capitalize on your strengths and passion.
You might already have an idea of what you want to do and I won’t discourage that. What this exercise can do for you is identify other areas that are compatible with your skills and experience. It will also help you pinpoint the skills you can monetize.
Versatility is a great asset in any business. Sometimes what we set out to do is just a way for us to discover what we are really meant to do.
Here are the steps:
- List down your skills, experience and background. Everything means everything, even the knitting skill you learned in home economics. You’ll be surprised how profitable it can be catering to very specific niches.
- Rate your level of competence on these skills. Use a scale like “beginner”, “experienced”, and “certified”. The scale should reflect your experience and level of expertise.
- Write down your ideas for an internet business. Be as specific as you can.
- Write down what you expect to get and the potential income of from each business.
- Estimate the amount of time before each business starts to earn.
- Rate your business ideas based on the skills and experience required, the potential income and time frame for ROI (return on investment)
- Review your top 3 options. Get more information from similar businesses and case studies.
- Once you’ve chosen the business that you want to build then its time to start on the business plan.
Here are a few of the most popular income earners online and the skills they require.
Niche Blogger – Your goal here is to get traffic to your blog by offering expert level information to your readers. You’ll need to have a respectable amount of experienced or professional expertise on the niche topic. You’ll also need to have a good command of written English. Setting up a blog is easier now so you won’t need a high level of technical knowledge. It will likely take a year or more before you can get established and gain enough steady traffic to earn income from affiliate links or advertising.
Content Marketing – similar to regular blogging but you concentrate on various topics that are related to the product your marketing or advertising. The brand and its products maybe featured heavily in the articles and media. This is usually run by an organized group and can be considered the next step up from niche blogging.
Social Media Management and Marketing – This focuses more on engaging the followers of a brand or personality. You’ll need to be able to: communicate easily with fans or customers; write good copy and short informative posts for the wall updates; do some marketing and customer service too. There is bigger emphasis on real-time customer engagement.
Web Designer – One of the more in-demand but highly competitive businesses online. There will always be a need for individual brand pages that are separate from social networks. There will also be a consistent requirement for updating and upgrading websites. This is where a good graphic design skill and programming are needed to do the job right.
Programmer – Programmers for Mobile apps, CMS and website plug-in are in heavy demand at the present. If you have the experience in programming or coding then this is the best business for you. A bit of marketing and networking can help keep job offers coming in. You can also choose to develop your own application. Find a better way to do things online and program an app for it. Who knows you might end up with the next Facebook or Google, or more realistically, the next Instagram or Pinterest.
Network Marketing – The focus here is to either sell a product or get people who can sell the product. You then earn a share of the income for sales made by you and the people you’ve recruited. A whole lot of skills come into play here and it can definitely be the most challenging online business. Skills like blogging, marketing and presentation come into play. Network Marketing is also your best bet for a consistently high earning income at minimal cost. Time and effort are more needed here.
Affiliate Marketing– Traffic is the key to success here and getting it by any means at your disposal. You can opt to have a niche blog and just buy the content you want to put in. Or create interesting content then post it on social networks with a link to your page. Traffic can be converted to buyers or leads on your page and this is where you get your income. Creativity is an important skill in this line of business.
Online Store– If you have something to sell you opt to create an online store and promote that online. You’ll need to have some good marketing skills, social media management and some programming knowledge too. You will also need to coordinate with other content creators online to help get your site promoted. There’s also the bigger website that can help you sell your wares but these are usually not in your full control. They can help you establish yourself and then you can choose to run your own store at the same time.
Customer Support – There will always be a demand for technical and hardware support online. Some choose to work as freelancers or build teams who then offer their services to different vendors. You’ll need a good level of technical knowledge and customer support skills for this business. Your biggest challenge will probably be managing the team so management skills are also required.
Transcription Services – This service is usually offered for language, messages or medical transcription. Freelancers also offer this type of work but you will earn more by building a team of transcribers and getting large contracts. You can choose to do it via remote team or individual remote freelancers. You’ll need knowledge on what is being transcribed (usually medical terms for medical transcription), management and marketing skills.
I won’t discourage from pursuing your ideas. Whatever your ideas for an Internet business, it is your passion that will oftentimes bring you to your goal. Do what you want to do and what you can sustain. I wish you good luck and I do hope that this exercise will help put you in the right direction.