10 Best Online Business Ideas to Earn Money in 2020

In today’s digital age, technological advancement has given more people the opportunity for employment, especially because now, it’s easier to learn the best online business ideas. We are moving now to an on-demand economy, opening more avenues for entrepreneurship, remote work, wealth creation, and more control over your time.

There are several platforms you can use to start getting some freelance work and land a remote job easily. If you have your place, you can list it on Airbnb and earn money without shedding a lot of money.

But if you try to search for articles about how to make money online, you will probably come across a lot of outdated ones. Answering surveys from Survey Junkie, watch videos to earn pennies with UserTesting or InboxDollar cashback with eBates, or gift cards with Swagbucks. These tactics don’t give you enough cash and it’s mostly not worth your time.

The internet has a lot of REAL opportunities. All you have to do is find something that suits you and your skills so you can learn how to make money online.

Are you tired of false promises by most articles saying that you will earn bucks online? Don’t despair, we have rounded up here actual proven ways of making money online. Find the one that will surely work for you.

Best Online Business Ideas to Earn Income

1. E-commerce: Amazon FBA, eBay, Etsy

best online business ideas

Do you have any products that you want to sell? Have you considered selling it online? If not, then now is the time for you to do it. Putting up an online store gives your product a wider reach by tapping more potential clients a regular brick and mortar store can a good business to start online.

If you already have one, you are off to a great start. While it is a good move to put up an online store, making sure that you are visible in every platform increases your chances of generating more income.

Most businesses tend to depend on one platform. Whether it’s eBay or Amazon, focusing on just one channel limits your possibility of reaching your store’s full potential. Whatever your product is, the future is omnichannel marketing. You need to be visible across major platforms because that’s where your customers will be.

Yes, launching an eCommerce store on eBay or Amazon is easy, but don’t leave just leave it at that. Explore every option you have. Right now, social media platforms like Facebook, Instagram and Pinterest can be used to sell your products directly. For crafty products, Etsy is the best platform.

If you want to make money online, you need to learn how to understand your target market and know which platform they use the most. Once you’ve learned which platform you need to target, you can now start building your presence. And if you’re ready to set up your online store, you can checkout Shopify, an online platform that unifies all your selling channels.

Don’t have enough capital for an online store but still interested to have your eCommerce site? Don’t worry, there’s another option for you.

 

2. Dropshipping: eBay, Shopify, Amazon

best online business ideas

Source: Statista

Okay, you think that creating an online store is the key to earning money through the internet a good business to start online. But like any other physical store, it requires you to store products, maintain inventories, even hire employees, and more. It will cost a lot of money and requires a lot of work.

With drop shipping, you don’t need a substantial investment or a warehouse to store your product. You also don’t need to worry about delivering the products. All you have to do is act as the mediator for the buyer and the seller. It’s very easy to start, sustain and yield profits.

So here’s how a typical dropshipping model works:

First, you need to create a website where you will upload pictures of your desired product with their prices. Then, the customer buys the product and pays you online. You forward the order to the supplier/manufacturer you’ve partnered with and keep the margin for yourself. Lastly, the supplier/manufacturer ships the product to the customer to complete the order.

See, it’s really simple!

To start your journey through dropshipping, find a partner supplier/manufacturer that offers this kind of service, create your website and start marketing your product. This is a sure way to make money online.

3. Deliver Services: Uber, Lyft3

best online business ideas

If you don’t want to go through all the trouble of selling a product but have your car, getting into delivery might be the one for you. Delivering anything these days; be it food, products, or even people can help you make money online. Different apps can help you get started with this.

Interested in giving people a ride? You can become an Uber or Lyft driver. All you have to do is bring people to their destination through a simple app on your phone a good business to start online.

Maybe you have a bigger car and want to help out moving families, you can check out TaskRabbit Moving Services.

You can also deliver food or pizza through UberEats, GrubHub, or DoorDash. Or you can deliver products and sign up with Amazon Flex.

These are just some of the websites/applications you can take advantage of. Delivery isn’t passive but this type of work can be anything you want to make of it; a side hustle, a full-time gig, or an income stream to pay for something. But one thing is for sure, this is a great way to make money online and offline.

4. Remote Worker/Freelancer: Fiver, Upwork, Flexjobs

best online business ideas

Source: Freelancinghacks.com

Do you know that there is currently a high demand for remote jobs? If you have digital skills, it’s time for you to get started with your career online.

There are several freelance sites like Upwork and Flexjobs that will help you make a full-time income online without the trouble of searching for clients. And the jobs that they offer cover a broad range. So whether you have designing, accounting, marketing, or customer service skills, you can now easily land a job online.

You can sign up from either of the freelancing website available online, or the above-mentioned ones a good business to start online. After signing up, you can now view their available remote job boards across all kinds of industries and choose which ones you can perform. No matter what your experience level is or industry background, there are plenty of remote freelancing jobs for you.

Another option is Amazon Mechanical Turk (Mturk), which allows users to complete manual microtasks for business owners all over the world. While the pay is low compared to other freelancing jobs, this will still add up some extra cash and will help you make money online. With Mturk, you will be motivated to get a lot of tasks because the key to making a lot of money on this site is by volume.

If you are ready to make money online, go ahead and brush up your skills and start applying for remote jobs online.

 

5. Transcribing, Writing and Self-Publishing

best online business ideas

Source: Publishdrive.com

For those who enjoy writing, there are endless opportunities to earn money online. Those days are gone where writers or journalists need to rely on an agent or publisher to get published and sell their novel. Thanks to the internet, limitless possibilities are available for you now.

Did you ever dream of getting your book or short story published? Thanks to Amazon KDP (Kindle Direct Publishing), you can now easily publish your work and sell it on Amazon.

A great good business to start online is by transcribing videos and audio files for people. Several freelancing websites, like the ones mentioned above, offer this job. Just look for the one that appeals to you.

How about writing articles? Does this sound like something you would enjoy doing? You can make a lot of money as a freelance writer for companies. There are tons of writing gigs for different topics so pretty sure you will find something that fits your interest.

Another option for writers is by writing a guest post on other people’s blogs. You will get an exposure for doing this and might get gigs from your post. Or you can do a Google search for “paid guest post” and the industry you wanna write for.

To sum it all up, to be a successful writer, you should start picking the right niche. Whether you write historical, romance novels or nonfiction, technical or lifestyle, you need to select your area of focus and expertise. Then, strengthen your writing skills and get your content out there. After all, the stronger the content you make, the more money you can make. There are tools out there that can help you with this, like Grammarly.

 

6. Niche Blogging: Digital Products and Affiliate Marketing

best online business ideas

You love writing but you don’t want to write for another company? Why not consider starting a niche blog? But starting a blog means you’ll be making money right away. You need to grow your traffic to make it profitable.

You can also add Google AdSense ads on your site to make money off of it. This best online business ideas can work, but ads can annoy your audience if misused. This is the reason why so many people use ad-blocking tools.

Instead of relying on ads (which will require a lot of page views and search engine mastery), you can try to naturally sell with the newest affiliate programs to monetize your site. Some affiliate programs pay you per lead. If the blog you created has relevant traffic in a certain niche (like finance or home improvement), many of the companies in this industry will pay for the leads you send them.

A good business to start to make money through your blog is by creating and selling digital products and get other affiliates to promote your products. For example, you can offer your loyal followers/viewers video, podcasts, or magazine subscriptions. Aside from these products, you can also sell your eBooks, templates, guidelines, software programs, or make it a membership site. Be creative. Any digital product you can think of can be sold to your audience. Just make sure to provide them with real value.

So how can you get started? The easy way to start is to create a WordPress website with a web hosting company. You can search Google for a web hosting company that would go with your WordPress site. After this, begin creating content for the niche topic of your choice. Get backlinks with guest blogging to build-up Domain Authority and traffic.

We have very detailed articles on How to monetize a blog in 2020, and How to start a blog in 2020.

You can use a tool like Google Keyword Planner to help you understand potential traffic for different niche ideas. Even though the forecast impression results use data from paid ads, they work as an indicator of whether or not a niche you want to tap is accessible.

Then, start creating great blog posts and offering your reviews and digital products everywhere. Although to make a real amount of money in this way, it may take years. You just need to be patient.

You can find more detailed ways to monetize your Blog with Affiliate Marketing in our article here.

 

7. Ad Space/Sponsored Content with you Website 

Almost everyone on the internet is on the hunt for finding their target audience and bombard them with ads. Ads are tolerable especially if we are the ones who are benefiting from it, right? And proper advertising isn’t annoying especially if it’s done correctly.

If you already have a blog and have put in all the hard work needed, a great way to make money online is by placing ads on your site. There are just a few things you need to deal with:

  1. Your blog should have a decent amount of traffic.
  2. People from the industry your in look up to you.
  3. Your audience base is loyal to the niche topic of your blog or brand.

Check more our other article talking about Adspace monetization.

Let’s say you qualify from these criteria. Your question now is; how to sell ad space on my blog?

There are two ways to go about this. You can either do it on your own or use third-party services to do this hard bit for you. If you are new to this idea, the latter is what you should opt-in. It will be easier for you if you let third-parties manage ads on your blog. You can check out the websites below and see which one suits you:

  • BuySellAds – This is a huge marketplace where prominent website owners list their ads for others to buy. Just make sure you have enough traffic or else this site is likely to reject your listing. BuySellAds gives its users 75% of the total income.
  • BlogAds – This premium ad service is the same as the one above. The only difference is that it gives its users 70% of the total income.

 

8. Sell your Coding Skills 

best online business ideas

Do you know any coding language? If so, then get this skill rolling and earning some cash. Coding skills are highly valued in today’s digital world. Because of the ever-evolving technology, coding jobs are growing 50% faster than the overall market. It doesn’t matter where you’ve learned your coding skills. You can start coding as long as you can do it.

Conversational marketing is going to be the next big thing in marketing. This means chatbots will be in-demand soon. But artificial intelligence, machine learning, and natural language processing (NLP) are still developing and maturing.

Because of this, there comes a huge demand for people who can create, maintain, and upgrade chatbots. If you have skills for this or are willing to learn, you can start making a lot of money online for yourself.

Another option for you is to code new skills for Amazon’s Alexa. Back in May 2017, Amazon launched a program called Alexa Developer Rewards to pay coders for developing in-demand skills for Alexa. You can also take advantage of this program too.

If you’re looking at building a successful business through coding, you should start listing your skills on a personal portfolio website. From there, you can create a profile in different freelancing platforms mentioned above such as Upwork, or Fiverr. Soon enough, you will generating money online.

 

9. Be an App Developer

best online business ideas

Source: Demotix.com

There’s no point in telling you that developing apps is profitable. Because it’s not a secret that there’s a lot of money that can be made in application development. But it’s not a question of how much you can earn. The real question is, where do you start?

You need to learn how to code to build apps. But the question is, how can you make money online through app development?

Let’s go over these two scenarios:

You already have an app idea. 

The idea is all set, all you have to do is create the app. The first thing you need to know is how much money you need to cash in and not expect to make much money in the first year. Charging your audience to download the app is not a good idea because right now, no one pays to download an app. This is the main reason why most of the apps you see are free.

However, you can earn money from your app. This is one of the most profitable prospects in app development. Free apps can make a lot of money. Below are some ways to monetize your free app:

  • Offer subscriptions in the app
  • Use advertising as your app’s revenue model
  • Use the app to sell merchandise
  • Use in-app purchases and microtransactions

These are just some of the ways you can use to make a profit out of your app. There several other ways you can find, or be creative and invent some ways.

You want to work as a freelance app developer.

 One of your options to earn money as an app developer is by doing it freelance. There are several SMEs and startups that are outsourcing their app developers. This is good news especially for you. In this case, you should create a profile on different freelancing platform and start pitching your ideas to different clients. There countless platforms on the internet such as:

Another tip is to make sure that you network extensively at conferences and events so that you can expand your network and meet potential clients.

 

10. Become a Youtuber: Ads and Affiliate Marketing 

best online business ideas

Source: Connectivasystems.com

Nowadays, people are in videos. From Instagram stories and Twitter videos to earning money on YouTube, videos are extremely popular. According to a study by Cisco, by the year 2022, video will account for 82% of all internet traffic. Imagine the opportunities you can have with this!

Most companies have produces millions of dollars in revenue by implementing video strategies. Advancements on video technology and editing are leading to even more exciting opportunities to make money online.

One of the most traditional yet still profitable way is selling stock video content online on a site like Shutterstock. You can just use your smartphone to capture high-quality videos and upload them for purchase. It’s really easy.

Another way of making money through video is by streaming. For video game lovers, you can earn money by streaming yourself gaming and providing game reviews. Facebook has now an option for gamers to stream their games and earn money. You can also do it via Twitch.

You can also create your own YouTube channel and monetize it. The best way to do this is by writing great titles that pique’s your audience interest. Getting more views means earning more money. You can also cross-promote with other channels. You can offer incentives to other YouTubers so they can promote your channel. Lastly, create a consistent schedule so your audience would know when to expect your videos. This will create a habit for them and will regularly expect your videos.

 

Final Thoughts 

These are just several ways to make money online this 2020.

You can start by choosing which best online business ideas will work with the set of skill you currently have right now, or by acquiring new skills so you can earn more money. Of course, to be successful, you need to provide value and stay on the cutting edge in this changing digital economy.

Figure out your unique selling point, either as a business or as a freelancer, and learn how to market this value. Once you do this, you’ll be able to generate more income than you expect.

 

 

 

 

 

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