The good news is that even if you don’t have much money, to begin with, you can still start your very own online business and earn a decent income. Certain online business ideas require nominal amounts of cash to start. As a result, even the cash strapped can run these businesses.
What’s more, these low-cost business ideas will minimize your risk since you are committing very little cash.
Some of these businesses do require certain technical skills for success. Hence, you should be ready to learn and acquire skills required by the line of business that interests you.
Here are the best online business ideas with minimum investments.
1. SEO Consultant
If you are adept at using Google Analytics and Google Ads, you can become an SEO consultant. This is a very lucrative line of business since just about every site owner wants their site to rank higher on Google search results to get more traffic.
You can also educate business owners on the importance of SEO and how it can help them to gain more customers online. This will help you to find work and start earning money.
You will need to follow the latest guidelines on SEO since the field is continuously evolving. You should remain updated on Google algorithm changes and what that implies for SEO.
2. Social Media Consultant
Virtually all businesses, both big and small, have a presence on social media platforms since these sites bring them in contact with millions if not billions of online users. Hence, social media is a vital avenue for businesses of all stripes to boost sales and expand their customer base.
You can cash in on this vital opportunity by offering services as a social media consultant. If you are skilled at engaging online users, creating snappy social media posts and creating stunning visuals for sites like Instagram, for example, then you think about starting your social media consultancy.
3. Niche Retailer
There are so many eCommerce businesses these days that it seems impossible to compete against big players who have much greater resources than you. But that should not mean that you cannot start your very own thriving eCommerce business.
You need to find a specialized niche where there is relatively less competition. The big players often tend to trade in very general niches. Due to the immense range of goods that they offer, they cannot focus too deeply on highly specialized yet lucrative niches. This is where you can capitalize.
For example, you can start a blog on organic teas. You might be thinking that even big retailers offer organic teas. While that is true, you can go much further since larger retailers tend to offer only the most generic variety. Also, they may not have in-depth content on all sorts of teas. This is where you can come in. You can write richly detailed and engaging content on all sorts of teas, including the most fabulous and healthful varieties like matcha, Sencha, Puerh, white, herbal, chamomile and Rooibos teas. You can cite exciting research that indicates wonderful health benefits. By standing out as the expert and providing meticulous information on the most exotic teas, you can take the lead over bigger rivals in the tea niche.
4. Web Design
Web design can take some time to master. But once you do that, you will have acquired valuable skills that almost all businesses need for digital marketing.
You can offer customized web design for businesses. However, with the advent of WordPress and several other user-friendly web builders, clients often prefer these services over custom web design. You can capitalize on this by offering services as a WordPress expert. You can also learn pretty quickly how to use other web builders for making amazing websites.
Business owners have too little time and far too many tasks to take care of. You can induce such business owners to outsource web development, whether it is custom web development, WordPress or any other website builder that they prefer.
5. Virtual Assistant
If you fancy remote work, then you can think of becoming a virtual assistant. Business owners are pressed for time and need assistants to take care of smaller mundane activities. This will leave them free to focus on the big picture. In essence, by offering services as a virtual assistant, you are helping busy owners to buy the most vital commodity – time.
You can find VA jobs on Zirtual and TaskRabbit. On such sites, you can create an online profile to show your expertise and establish yourself as a proficient assistant that owners will be interested in hiring.
6. Affiliate Marketing
There are numerous advantages to affiliate marketing. Most brands have some sort of affiliate marketing scheme since they need external help to promote their product and services in the digital realm. Hence, there is a very wide range of affiliate marketing schemes to choose from. While Amazon is the most popular, you can think of opting for other lucrative affiliate marketing schemes.
Since terms and conditions for each affiliate marketing program varies, you will need to read them carefully. This way, you will be able to ascertain whether or not the scheme is feasible for you.
Once you sign up for the affiliate marketing program that you feel is right, you can create an affiliate marketing website to promote the brand.
You will need SEO and email marketing expertise since these are paramount for affiliate marketing success. SEO, quality content creation and slick email marketing are all necessary for driving traffic to your affiliate site and converting them.
You can choose one of the above online business ideas with minimum investments. For some, you may require technical skills, but hard work is imperative for all of them. If you put in enough effort, you may be rewarded with a steady monthly income and become your own boss.