The ongoing development of digital technology has given birth to various online business ideas, creating a larger transnational marketplace that defies national borders and fosters multinational collaboration and entrepreneurship. This has resulted in the growth of online businesses that have evolved over time and space, the progressive spread of digital technologies creating opportunities to start a readily accessible 24/7 business for anyone, anywhere, an emergence of online business ideas offering a diversity of products and services in an online marketplace that connects both buyers and sellers.
In this energized environment online businesses can start with minimal, or even no capital, and where [your] online business ideas can be initiated by positioning yourself as a brand owner producing goods and services, or as a seller, reseller, or drop-shifter. The following highlights 10 business ideas that generate high profits, that we, at Youtap, have selected for you to try.
The following is a list of 10 profitable online business ideas that you can try in today’s digitalized marketplace, such as opening an online store as a seller, reseller, or drop shipper.
In comparison to sellers, resellers, and drop-shippers, brand owners or producers have the strongest capital available to them, where they can produce their goods and services, branded with their brand or label. This [online business] idea thrives in business marketplaces such as Blibli, Bukalapak, J.D.D., Lazada, Orami, Ralali, Shopee, Tokopedia, Zalora, and more.
More specifically, the difference between a seller and a reseller is that a seller is a first-hand merchant, whereas a reseller is a second-hand merchant who acquires goods from the first-hand merchant, while on the other hand, a drop-shipper is a broker who acts as a second or third-hand merchant.
Furthermore, a drop-shipper creates an online store or a virtual shop without the need to invest a large amount of capital, not the need to stock inventory, but rather, drop shippers only need to actively search for collaborative sellers, at which point they will display product photos or videos in conjunction with product descriptions and prices on their online store, where if a consumer is interested, the drop shipper contacts the seller to directly ship the product to the customers’ address, with any resultant profit being in the price point and pre-determined profit margin.
Digital platforms, such as Fastwork, Freelancer, Fiverr, Upwork, and more, are becoming increasingly popular, connecting individuals who have specific skill sets to potential employers.
These online marketplaces enable individuals to live and work remotely, to become digital nomads, with thousands of opportunities available worldwide, on platforms where freelancers can market their skills and seek relevant and relative employment. For example, Freelancer.com offers in-demand service categories such as:
Within each of these service categories, some subcategories have specific skill sets that employers and project managers are looking to fill, and where remittance is negotiated in US Dollars that is calculated wither per hour or per project.
Also Read: Effective Strategies for Facing Price Wars in Online Business
Today, many start-up companies are emerging on the internet that always need attractive visual content, where, as a medium, photography can work as an online enterprise. [Your] photographs can be sold to these start-ups, who are also marketing their businesses and pitching ideas. Additionally, you can also join digital platforms such as Freepik or Shutterstock where you can sell your photographic work, or alternatively, you can sell human interest or newsworthy photos to foreign media outlets or news agencies via the internet.
Parallel to the opportunities of photographs and photography, short] video footage is a medium in demand by professionals working in many industries from creative outlets to news media, places where you can generate high profits. Using platforms such as Shutterstock, you can sell video clips or video works that have general or specific themes, while concurrently running a videography studio using online marketing.
Another online avenue involving photography and videography that has significant potential is that of creating entertainment, educational, and tutorial video content, uploaded and published on YouTube. YouTube is a video-sharing platform that pays you based on the number of views, watch time, and ads on your YouTube channel. Your channel can start earning money from YouTube once it meets their monetization requirements.
YouTube's current monetization requirements are that your channel must have 1,000 subscribers and 4,000 watch hours within 12 months. Achieving this prerequisite depends on your creativity, discipline, and hard work.
For example, by consistently uploading two video content pieces per week of around 10-15 minutes duration, at the same time and day is one key to having videographic and Youtube success.
Buying and selling Domain Names and Websites is another online business idea that can provide significant profits.
In today’s social media-obsessed era of celebrity and influencers, businesses and individuals often desire to have a specific name for their website domain. However, sometimes their choice or name has been taken, purchased by savvy entrepreneurs seeing an opportunity in the digital marketplace to make some easy money. For example, the following link discusses how pop star Madonna is entitled to have Madonna.com after litigation with its domain owner online pornographer Dan Parisi.
https://www.theregister.com/2000/10/17/madonna_wins_her_domain_namesake/
In this, the domain owner Dan Parisi lost the case and madomna.com went to Madonna, however, usually the owner of the domain may be willing to sell the name to interested buyers. This business, known as flipping, has been popular since the advent of the internet. You can get started by using platforms like Flippa, Ads.id, Trademysite, Afternic, or Empire Flipper to buy and sell domains.
You can start by building a website from scratch with a new domain that performs well and then sell it for a higher value, or alternatively, you can buy an existing domain or website that has low performance, improve its performance, and then flip it at a higher price. Or, you could buy a domain or website that already performs well and resell it for an even higher price.
This domain-flipping business can earn you hundreds of millions to even billions of rupiah, you just need to be enterprising, entrepreneurial, and patient.
Also Read: 5 Essential Things Small Business Owners Must Have
Today, many small and medium enterprises (SMEs) are becoming more tech-savvy. As such, they require websites to market their products. Offering web development services to SMEs could be a promising online business idea because the number of SMEs continues to grow exponentially, the business idea, therefore, creating the potential to generate significant profits.
Online courses are great online business ideas with the potential to make high profits. This is because one of the main reasons that people use the Internet is to gain information and seek knowledge. The Internet offers many tutorials on a wide range of topics, and if you have a passion for education and teaching, creating an online course with tutorials and information is an opportunity worth investigating and investing in for you.
In addition to selling goods and services through conventional brick-and-mortar stores and marketplaces, sellers can also use social media platforms like Facebook (Meta), Instagram, and Twitter (X) to market their products, or alternatively, online marketing can be effectively done using WhatsApp, either personally or in groups.
In today’s Internet age, many people continue to enjoy reading books. Today’s technology has seen an increase in digitalization, where digital and e-books have become the norm. However, digital and e-books can be turned into a profitable sideline or a full-time business.
With just a singular creation, you can sell your digital or e-book/ product to many people globally using online marketing.
Create an e-book with an interesting title or topic, such as collecting, fitness, investment, teaching, or trading, issues that can be deemed useful for the lives of those around you.
Above are 10 simple online business ideas that are potentially profitable, online businesses that you can start immediately, with little or no outlay or expense.
Through Youtap’s Business app, sellers can get daily, weekly, or monthly sales reports, track the number of transactions made, and see which payment methods were used. Business owners will find it easier to analyze and monitor their sales, improve product quality, and of course, increase revenue using Youtap’s free features.
You can easily download Youtap’s Business App from the Play Store or App Store.
When you do, you can start selling and become a Youtap partner to help manage your online business and sales.
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