The most coveted online business model
There are two types of online business:
those that operate on autopilot and those that require constant dedication.
Logically, the most coveted are the first, those that can become an automatic passive income capable of growing without requiring more time or money to be spent.
This type of business must meet 3 golden rules:
Solve an existing need.
Many online businesses fail because they are guided by an “intuition” of their creator, instead of satisfying a real demand from their target audience.
That is why it is essential that you first validate your idea, however innovative it may seem to you.
Work autonomously. A passive online business must be able to generate money without your intervention being necessary.
For that you need to automate the processes.
Be scalable. This means that you should be able to increase your billing without increasing costs proportionally. Otherwise, the more money you earn, the more expenses you will have.
Below I will show you the 10 profitable home business you can start in 2020 They are home business with potential to generate passive income.
The results that I myself have achieved with several of them.
PS: at the end of the article you will also find a practical guide to choose the most suitable business model for you.
10 profitable online businesses you can start today
- Affiliate MarketingThis is one of my favorite forms of online business due to its ability to become a recurring residual income.
Many self employed who want more freedom choose this business model. Although at first you will have to invest a lot of time, in the long term it can be converted into a totally passive income.
In fact, it is common for people who are successful like this to end up leaving their jobs to go traveling the world at their will
Affiliate marketing basically consists of creating a website where you recommend certain products through affiliate links. When someone clicks on those links, they are redirected to the website where the product is sold, and if they buy it the seller gives you a commission.
Some sellers, like Amazon, have their own affiliate programs, while others are found on platforms like Shareasale or Awin, jumia,konga etc
2. Monetize your personal blog
Creating a blog and positioning yourself as an expert on a specific topic is one of the most sustainable ways to build an online business in the long term.
Do not think of a blog as a personal diary where you can write what comes to mind at all times. That has little economic potential. A blog is a place where you offer the public your knowledge on a specific topic for free.
Fortunately or unfortunately, most people don’t dare start a blog. You think you have nothing to contribute, you fear not meeting your expectations, or you are concerned that readers will accuse you of imposing.
But those beliefs only exist in your mind. All bloggers have started with those fears; The key is to choose something that you are fairly good at, because there will ALWAYS be someone who knows less than you and wants to learn.
Also, as you work on your blog, you will adjust its focus according to what your audience really values about you and finds interesting.
Another key to success is to specialize, because too general blogs do not usually stand out or be able to create a loyal audience. Some specialized blog ideas could be;
Practical tips for cheaper travel
Productivity to organize tasks at work
Emotional intelligence training for parents with children
Here are the four most popular, but if you want to know all the ways to make money with a blog, take a look at this article.
Adsense is Google’s advertising network, and it includes thousands of potential advertisers. It is a type of PPC (Pay Per Click) advertising, which means that every time a reader clicks an ad on your blog, you receive money.
Implementing it is as simple as registering here and putting the code it provides you on your website. Then the system will take care of showing the most relevant ads to your readers.
Although it depends on the theme of your blog, as a general rule it is necessary to have enough visits on the blog in order to generate a decent income. So I prefer other forms of monetization.
To give you an idea, the best-paid topics are executive training, finance or health.
- Publish a book
Publishing a book was quite a complicated undertaking some years back.
But right now, its easier. You can even write ebook with your smartphone
Unlike, when you had to convince a publisher to take over and distribute it to bookstores, causing many aspiring writers to forgone their dream
But everything changed with the appearance of the electronic format. Nowadays you just need to have a digital file with your book to publish your ebook on the vast majority of online book sales platforms.
If you want to self-publish it in physical format, still preferred by most readers, there are also several options:
Contact a printing company to make a run. Work with a small publisher to help you with distribution
Use a print on demand service, where only the book is printed and sent when someone places an order (this saves you the cost of printing a print run and storing the stock)
Selling self-published books on Amazon is a great way to generate passive income.
Although it is difficult to live exclusively on it, almost half of the best-selling books on Amazon are self-published, and the margin for the author is around 70%.
- Become a YouTuber
With the rise of content in video format, the idea of creating an online business from a YouTube channel is no longer far-fetched.
Youtube is the second Internet search engine, only behind Google, and year after year it has shown spectacular growth. Although there is increasing competition, it is still a relatively virgin territory.
If you consider that you can bring fun or knowledge to viewers, creating a YouTube channel is not far-fetched: in the medium term you can get to live on it.
- Create a podcast
In addition to the videos, there are also audio content known as podcasts.
Podcasting is getting popular in various countries now. . Little by little, this channel is also settling in the rest of the countries.
In fact, there are already Spanish channels with thousands of followers such as The Success Academy by Victor Martin, where he interviewed me a while ago to talk about social intelligence (one of my great passions).
To create a podcast, you should simply record your shows. People who are very busy love podcast content. No wonder all social media now integrated it into their platforms .
Podcasts are currently a good opportunity since there is still little competition, so creating a channel that addresses an unmet need has enough numbers to get a good audience.
To make money with a podcast there are several options:
Sponsorships: if you have a community of followers and you deal with topics where there may be companies interested in advertising, you can contact them to offer them the opportunity to sponsor
Create paid content: you can make some of your podcasts can only be listened to upon payment of a small amount
Recommending products: If you recommend services or programs in your podcasts, you can include their affiliate links in the description to earn extra money
- Sell your services online
Although you can sell them through your blog, YouTube channel or podcast, if you still do not have an audience you can advertise on specialized platforms to put freelancers in contact who offer their online services with interested users.
The jobs that freelancers offer on these platforms are usually 100% online, such as translating a text, composing a jingle, editing a photo or making a marketing plan. There are even people selling love spells from a distance!
These are the three most popular platforms at the moment:
Upwork: Although it is only in English for now, it has a huge number of customers
Freelancer: it is in Nigeria, it has less volume of clients and it is not so easy to use
Fiverr: It is also in Nigeria and has many potential customers, but most do not intend to spend too much money
- Become a copywriter
More and more companies and entrepreneurs are betting on strengthening their online presence, and that means that the demand for written content is increasing.
To give you an idea, every day more than 3 million articles are published on blogs. This need to generate content has caused copywriters to become a highly demanded profile in the online world.
Also, the barrier to entry is very low: you just have to like it and you have to be good at writing.
Within copywriters there are several levels depending on their specialty, experience and the quality of their texts, and their standard rates are usually around 3 to 10 euros for every 100 words (although some charge much more), making a text of 2,000 words It can be perfectly paid at more than 100 euros.
Generally, copywriters specializing in creating sales pages are the highest paid, as they are the key stage in getting a visitor to end up becoming a customer. In some cases, thousands of euros have been paid for a page of this type.
With the rise of copywriting, platforms dedicated to connecting copywriters with companies, entrepreneurs or bloggers who need content have also appeared. Some examples are:
iWriter: more and more Spanish editors are joining this platform. It doesn’t pay excessively well, but it makes up for it with the number of customers it gets you.
LowPost: Pay better and have a good volume of customers who need written content.
Textbroker: allows you to negotiate the price directly with the client, but on the contrary, there is not too much workload.
- Sell courses online on other platforms
If you want to sell an online course but are not willing to work for months to build an audience on your blog, you have a faster alternative.
There are platforms like Udemy or Tutellus where you can become an instructor by uploading your own paid video course. These platforms usually receive thousands of visits a day from people interested in learning about a specific topic, and if your course meets a demand and meets the expectations of users, you can earn a lot of money.
Unlike your own blog, to sell on Udemy you will have to adjust the price of your course (according to the studies of the platform itself, 90% of the courses sold are below 50 euros).
But still there are people who generate thousands of euros a month, as evidenced by the fact that some courses in Spanish already have almost 20,000 enrolled:
- Sell your creations on marketplaces
If you like photography, composing music or programming, you have a business opportunity on some platforms that act as a marketplace, putting creative contacts with clients.
The concept is simple: you associate with these companies and they include your creations in the list of products on their website. When a client buys the license to use your content (be it a photo, a music jingle or a web template), you earn money and they get a commission.
These are some of the most popular marketplaces:
For photography you could register in image banks as a provider in Shutterstock or Fotolia, where they pay you a percentage of the subscriptions of the clients who download your photos.
For music you could partner with Encore (a website specialized in hiring musicians for events) or license your creations online with Airbit or AudioJungle.
If you create web templates or plugins, you can sell them through Themeforest. It is the most popular platform for buying and selling digital products, where some suppliers have billed more than 1 million euros a year.
It is true that, as a general rule, it is not easy to generate large income in this way. Unless you have some extremely popular product, the most common is that you earn extra money every month to complement your other sources of income.
Network marketing, or multilevel marketing, is a business model that has emerged in the United States.
In network marketing, sellers offer products directly to consumers. They place orders in factories, deliver to the customer and receive a commission for each closed deal.
The idea is for the producer to create a network of distributors, who provide support, training and advice to these partners so that they promote the brand and sell their products door to door. And for each sale, these partners receive a predetermined amount.
It is a good way to earn passive if do it right mindset. For details on this you can here for presentation on a profitable business you can start.
You can check out free presentation on business you can start in 2020 here
Do you get value from this post?
I will appreciate if you can share it with your friends
PS: YOU CAN CLICK HERE TO DOWNLOAD FREE GUIDE ON 10 PROFITABLE BUSINESS YOU CAN START FROM HOME