The recent years have indeed changed the landscape of business. That being said, we have rounded up ten business ideas that don’t require a lot of capital. What’s more thrilling is that you can even start some of them absolutely free! These include:
1. Explore Ecommerce
2. Affiliate Marketing
3. Create & Curate Content
4. Sell Your Ideas
5. Become An Influencer
6. Learn Photo & Video Editing
7. Venture Into Freelancing
Ready to learn the wonders of how you can generate online money, earn unlimited revenues to increase your brand presence, and level up your life this year? Read on to know more.
1. EXPLORE ECOMMERCE
Ecommerce or electronic commerce is the trading of goods and services on the internet. You may sell anything you want through different ecommerce platforms readily available on the internet.
Setting up a small business online has never been easier, as long you find the right products or services.
Building a profitable business online also involves finding products you’re passionate about, conducting research to determine the potential, and planning the logistics. Note that most platforms like Shopify, Wix, Woocommerce have arranged shipping options included in their monthly plans that you may use.
If you do not have the capital for building a store, you can also do dropshipping, a business model where you act as a mediator between the customer and a third-party supplier. You don’t need anything in stock, as they fulfill the orders on your behalf.
2. DO AFFILIATE MARKETING
Affiliate marketing takes place when an affiliate or publisher earns a commission for a product or service they promoted successfully to their audiences. They may choose between physical and digital products as long as they feel that they can convince their audience to buy them.
For people who have a huge following on their social media accounts, affiliate marketing is a great idea for a passive income. Affiliates usually get a unique website link that allows the seller to track the number of people who successfully placed their orders through the affiliate’s link. The link is either placed inside a blog post or via social media, like Facebook, Tiktok, Instagram, or Youtube.
3. CREATE & CURATE CONTENT
Being a content creator requires absolutely zero investment if you have an existing internet connectivity and a camera phone. Jimmy Donaldson (a.k.a. MrBeast), the highest-paid YouTuber, is only 23-years-old. He reportedly raked in about USD$54 million in 2021 alone, according to Forbes, because of his mega-popular YouTube channel, which often features bizarre and elaborate stunts.
In creating and curating your YouTube channel, focus on a single niche so you can build a strong, loyal audience. It may be a vlog, a cook show, or a lifestyle content that people want, and that can monetize your channel with YouTube ads.
4. SELL YOUR IDEAS
There are various ways to sell your ideas online. You may create a course, write an ebook, or do a podcast.
A. Creating A Course
If you’re an expert on a subject, you can make money creating courses online. You can sell your course on Udemy, Coursera, EDx, or similar platforms or, if you already have your own audience, through your own website.
B. Publishing An E-book
If you enjoy writing and story-telling, then this is one of the ways you can make money from home. With the rise of self-publishing, it’s now possible to write and publish your own e-book.
Keep in mind though that in order to create a great e-book, you may need a designer and an editor to ensure that your e-book is error-free. When all these are done, you may submit it to a self-publishing platform like Barnes & Noble, Amazon Kindle, and Smashwords.
C. Doing A Podcast
The latest statistics show that in 2023, podcasting revenue in the US is expected to hit $2.2 billion, a 27.2% annual increase. While most podcasters make very little in the beginning, podcast and can be a lucrative career if you stick with it, engage your audience, and consistently create quality content.
Remember that the best podcast monetization strategy is to provide value with your content. Indirect selling through serving your audience and understanding their needs lets you build rapport so they trust the offers you make down the line.
5. BECOME AN INFLUENCER
To become an influencer, you need to have a huge following on Instagram and TikTok. You can monetize your account to promote products and services on behalf of brands.
Creating exciting and engaging content is the key in monetizing your account, and once you attain an extensive reach, brands will be willing to pay more money for your endorsements.
To make money as an influencer, you can charge for sponsored posts, create your own online store and sell products, add affiliate links in your bio, sell your photos, sell ads on your own podcast, make and sell merch, get paid to appear at events, and more.
6. LEARN PHOTO & VIDEO EDITING
Is becoming an influencer or monetizing your YouTube channel not the perfect fit for you? Don’t worry because you can always learn the next best thing with one of the most in-demand skills this 2023, photo and video editing.
With the number of businesses utilizing social media to promote their brand, and social media stars using their platform to have brand sponsorships on their contents, photo and video editors are highly sought to do the work of making photos and videos appealing to the audience.
Higher engagement through captivating photos and videos would mean higher conversions of views and monetization to the influencers and the brand that they are promoting.
7. VENTURE INTO FREELANCING
Another way of making money from home is offering freelance services to clients online. Almost any role a business would hire for can potentially be filled by a freelancer like general virtual assistance, writing, graphic design, marketing, website design, ecommerce fulfilment, answering to chats and queries, and social media management.
Most of these services are best positioned toward business clients because the clients can pay to make their business more profitable. Keep in mind that freelancers create content that increases traffic, leads, and customers for a business.
And the sooner you learn that, and can deliver on it, the more money you’ll make freelancing from home.
The internet has revolutionized the way businesses operate, and with these changes, making money from home has also become more accessible for most of us. This year, we hope that you’ll be able to find the best way that you can use to make more money from home