These days, more and more people are venturing into the online business sphere due to its accessibility and the possibility for fantastic returns. Indeed, there are so many different online business ideas you can pursue that there’s almost certainly something for everyone.

But what business idea should you focus on? Let’s break down the five best online business ideas to consider this year.

Affiliate Marketing

Affiliate marketing is, at its core, one of the most efficient passive income business models you can develop. While it takes a lot of time to get going, the potential returns can be impressive.

In a nutshell, affiliate marketing means building up a marketing network, usually through blogs for other informative sites, to sell others’ products. In exchange, you’ll get a cut of all their profits provided people came to those products through your website.

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illustration by Hurca

One of the best examples of this business model is the Amazon Affiliate Marketing program. Consider this if you like the idea of building up a network of passive income streams over time, then relaxing while the money flows in.

Blogging and Podcasting

Are you a little more creative? You can always create content through blogs or podcasts and start an online business that way. Blogs allow you to write about anything and everything you like, provided you have a solid audience and can practice good search engine optimization or SEO to draw new people to your site.

Podcasting is the new radio show format. It’s a great business opportunity if you like talking with others and building up a solid fanbase.

Don’t know what a blog or podcast about specifically? Check out this guide to finding a business idea for more in-depth possibilities.

Coaching or Consulting

Do you have professional skills that take time to acquire? In that case, you can start an online business coaching or consulting for a price.

This online business type is a great path to pursue if you’re college-educated and have professional experience that could be well-used by clients. Examples of industries for which you can start a coaching or consulting online business include law, medicine, entrepreneurship, and more.

Freelance Development or Design

Skills can help you start an online business in other ways as well. For example, you could go into business for yourself and become a freelance developer or designer, particularly for websites.

Freelance development and design is a competitive industry and it takes time to build up a profitable clientele. But it allows you to set your own hours, feel good about each job that you complete, and answer to no one but yourself.

Teach Online Courses

The potential profits you can make from your existing skills don’t end there. You can also create your own online courses and teach people from a distance, selling courses individually or in bundles.

Online learning is growing faster than ever before, and online courses are a great way to obtain a high-profit margin revenue stream for relatively little effort on your end. Make one class and you can potentially get hundreds of people to purchase the same hour-long talk over time.

These are just a few online business ideas to consider. Think about what you want to do and how you want to spend your time before choosing. Whatever you decide, good luck!


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