Is It a Good Idea to Start an Online Business Now?
The pandemic came with unexpected events that left an effect that won’t be forgotten any time soon. Even now, the impact of the COVID-19 pandemic can still be felt in different aspects of our lives. Aside from the public health threat, the pandemic disrupted the activities of small businesses, large corporations, and even the world economy at large.
Many people had to work remotely, and brick and mortar organizations had to think of creative ways to meet consumers’ needs during this crisis. According to a report, about 41.3% of businesses temporarily closed because of the pandemic. In addition, many people lost their jobs, income levels were reduced, and the world economy shrunk, causing many countries to go into recession.
However, after nearly two years of the pandemic and living with different virus variants, many businesses are coming back up. Despite the massive business closure, the world is witnessing a rise in online businesses as people find new ways to make a living.
It may sound ironic, but sometimes, certain businesses have the potential to thrive during or after a crisis. Many organizations, including Airbnb and Uber, started during the global financial crisis of 2007–2009. Data even shows that there are surprisingly still many business opportunities to explore as the world tries to adapt to the post-pandemic period.
So yes! Now might be the perfect time to start an online business.
Here are three reasons why now is a great time to either launch a podcast, become an app developer, go into affiliate marketing, or launch an idea that can bloom into a successful online business.
1. Plenty of Opportunities
The pandemic has made it evident that many things can work online, and this is the best time to start a business in the comfort of your home. From online fitness to online courses and home delivery, many opportunities emerged from the pandemic to cater to people’s changing needs. Online platforms connect businesses to the right customers, and if you have the right business ideas, you will find plenty of opportunities.
2. It’s Easier to Sell and Buy Things Online
The e-commerce business model was widely adopted during the COVID era as many brick and mortar businesses had to close, and many people had to buy online. People are getting used to buying and selling online, so why not make the best of the situation? Individuals with business ideas can take their businesses online and reach a wide range of audiences with the help of different online platforms and tools.
3. Advanced Technology
Technology companies and financial institutions are becoming more advanced in supporting e-commerce businesses. Now, it's easier to start an online store and take payments easily with minimal setup. So, this is a great time to leverage all the tools and resources to open a booming e-commerce business.
10 Best Online Business Ideas for Beginners in 2022
The first thing to note as a first-time entrepreneur is that some business ideas have high potential, and some don't. Therefore, it is essential to analyze the market space to discover which online business has great potential.
We have done some research to compare the success rate of different e-commerce businesses despite the pandemic disruption. After a thorough investigation, we have compiled ten online business ideas that can help entrepreneurs make money.
1. Start a Dropshipping Business
Dropshipping is one of the best ways to make money online without the need to invest or buy products in advance. Dropshipping might be the answer if you are worried about where to store inventory or run your business.
With a dropshipping business, you can sell online by taking customers’ orders and then seek out a third-party wholesaler or retailer who handles the inventory handling and order fulfillment side of the business. You will have to sell at a higher price than the third-party supplier for this method to work.
2. SEO Consulting
If you have a good knowledge of SEO (Search Engine Optimization), you might consider starting a consulting business for companies with websites. With the rise in online business, many companies and brands are obsessed with staying ahead of their competitors by ranking high and turning their searchers into customers. However, only a small percentage of these people have in-depth knowledge of SEO, schema, link building, and other digital marketing methods.
A good SEO consultant helps analyze how a brand’s website is doing and prescribes an effective strategy that increases traffic and customers. This business is in demand, and if it’s something you are good at, consider launching your idea.
3. Virtual Online Training
The pandemic showed everyone, including the education sector, that learning doesn't have to stop even in crises. In 2020, many people had to study online, offline-based institutions moved online, and people with skill sets in specific areas translated their knowledge into online courses and training.
It’s true, there are already so many online learning platforms, however, the demand for them keeps increasing. Many people are turning to online platforms to learn new skills and access valuable resources. Whether fitness, digital marketing, SEO, or UI/UX design, whatever niche you are good at, 2022 is a great time to package your knowledge and skills and sell that to people.
Some ways to sell your online course include organizing online training sessions, self-publishing a valuable ebook, and making tutorial videos. If you can't decide what to sell as a course, leverage apps like Social Triggers that teach people how to sell what they know.
4. Become a Freelance App Developer/Web Designer
Technology has made app and software development a great niche to start a business online. Also, more and more companies need app developers to create mobile apps and websites. Chances are, anyone who wants to start an online business at this time would need a website, and they may not have the technical know-how to create it on their own. Also, existing sites are always looking to upgrade and improve their sites to meet customers' needs.
If you are creative and have an interest in coding, HTML, CSS, and other aspects of web design, then being a freelance web designer could be one of the best online business ideas for you. Meanwhile, if you have no experience in this field, you can leverage valuable web design resources, courses, and tutorials available for beginners.
5. Freelance Graphic Designer/Writer
Freelancers enjoy flexibility; they have the chance to accept projects to fit their schedules. Also, with freelance platforms like Upwork and Fiverr, freelancers get to decide what to work on and who to work with.
If you have a flair for graphic design, you can showcase your work and cater to the demands of small and large businesses. Almost every online brand requires the services of a designer to create infographics, logos, posters, and other visual designs.
Also, if you have writing skills, you can use your talent to get job offers to write blog posts, ebooks, and sales copy from people across the globe.
6. DIY Craft Seller
Do you love design and crafts, art and aesthetics? Now is a great time to build a storefront to showcase and sell handmade crafts or art. If you have beautiful handcraft you make at home, you can sell them on an e-commerce store. And if you can't make the goods yourself, you can get a supplier and sell it online.
Also, creatives like photographers and artists can convert their beautiful works and canvases into a source of income on their own e-commerce store.
7. Affiliate Marketing
Affiliate marketing works through recommending a product or service by sharing the referral link on your blog, social media, email, or other platforms. For every time someone clicks your referral link or makes an order through the link, you get a commission.
Many businesses are looking for affiliate marketers to help them generate customers through effective word-of-mouth marketing. Sites like Amazon offer affiliate programs that work well for people looking to start in this niche. You can also consider other affiliate programs that suit your brand and niche.
8. Become an Influencer
An influencer earns through brand sponsorships. They work by helping brands promote their products or services on their page.
Usually, influencers have a large following on social media, and people see them as experts in a particular niche. For example, if you often post fashion tips and have a large following, you can become an influencer for fashion brands and get paid for promoting their services.
One great thing about influencer marketing is the number of platforms available to use. You can start a podcast, become a TikToker, create a YouTube channel, or an Instagram account. The point of influencer marketing is to become an expert in one or more niches, build a presence, have a lot of following, and you can get paid for promoting people’s products.
9. Social Media Management
It’s safe to assume that every brand now understands the importance of social media marketing to promote their products or services. Social media is an integral part of online marketing, and it’s no wonder many businesses are now investing in it.
However, managing their own social media accounts is not an option for many business owners due to other tasks that require their attention. They would rather outsource this job to social media enthusiasts and experts who understand social media marketing and are able to manage their pages.
10. Niche Market Retailer
Whether it's clothing, furniture, or pet supplies, there are buyers for almost everything. If you don't consider yourself skilled at social media management, affiliate marketing, or other online business ideas, you can create an e-commerce store to sell specific products.
You can do some research to see what products you could sell on your online store. Setting up an e-commerce store is relatively easy nowadays — you can create your hosting service with integrated e-commerce software or list your products on an e-commerce marketplace.