3 Online Businesses That Are Easy to Run With Minimal Investment
2020’s COVID-19 pandemic has had far-reaching impacts on societies across the world. In addition to the pressure that the virus has put on national health systems and the impact it has had on international travel, government-imposed lockdown orders have had detrimental effects on global economies. While many people were able to continue working from home, there were many others that we’re unable to do so. Businesses have closed down and thousands of people have been left unemployed.
While suffering an economic blow is never fun, it can also be seen as an opportunity. If the pandemic and subsequent lockdown have shown us anything, it’s that the businesses that are able to survive in this technological age are those that can operate successfully online. Understandably, the thought of setting up an online business may seem like a bit of a daunting prospect, especially for those who have had limited experience in the online space.
However, it isn’t necessarily as difficult or expensive as you may think. Unlike a bricks-and-mortar business, creating an online enterprise actually requires minimal investment. While it may be handy to pay a developer to help you set up the web infrastructure, you won’t have half as many overheads as you would setting up a more traditional venture. Perhaps you have some savings you can spare to invest or maybe utilizing short term loans could be all it takes to start your next tech-savvy business project.
To provide you with a little inspiration, let’s look at some online enterprises you could potentially pursue without breaking the bank:
A Professional Blog
Whether you are a travel agent or a business coach, starting a blog related to your niche is a great way to earn money by drawing traffic to the site from various search engines and social media sites. It is best to blog about something that interests you as you’ll need to produce a lot of content, especially at the start. Once your traffic figures grow substantially, you can apply for the Google Adsense CPC (cost per click) network whereby you’ll get money every time someone clicks an ad on your blog.
An eCommerce Site
If you already have a business where you sell products, why not take it online via eCommerce? Set up a website that showcases your products and gets paid using payment gateways. It’s a really simple way of modernizing an existing enterprise and will lower your overheads, as you’ll no longer need to have a physical shop.
An Online Education Portal
If you have an area of expertise and think you have the skills to pass this knowledge onto others, you may want to consider teaching. Set yourself up on an eLearning platform, and begin by creating short videos on your topic and upload these to the web. You can offer students the option of purchasing lesson packages that cover all the essentials they’ll need to know. Whether it’s language learning, guitar lessons, or graphic design the online space provides a great opportunity for learning.
Starting an online business is by no means a simple feat. You’ll need to invest a lot of time and effort in getting the ball rolling, especially during the start-up stage. With that being said, if you are looking into setting up a business, there is no doubt about the online space where you need to be. Furthermore, it makes financial sense, as online operations generally have fewer overheads and can become highly lucrative over time.
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