10 Authentic Ideas for Your Own Online Business

Remember pet rocks? I am sure a lot of you don’t. Back in 1975 Gary Dahl came up with the idea of a pet rock (a pet that was easy to take care of) and became an instant millionaire! Just think of what he would have done if he could have taken his pet rock online!

Billions of people worldwide are now using the internet and that number will continue to grow. Online spending is increasing rapidly and according to Forrester Research will increase 62% by the year 2016. Many small businesses with no online presence will cease to exist.

If you are thinking of starting an online business, you have many options from which to choose. Below are ten authentic ideas for your own online business.

1. eBooks – Selling digital products of all kinds can be a very lucrative business. eBooks have exploded in popularity over the last few years and will continue to do so. Digital store websites will take your orders and deliver them automatically. With ebooks, there is no need to continually restock your products. One ebook sells many times over. This can be a 100% online business.

2. Proofreading Services – Many businesses will gladly pay you to proofread all their documents. Many people miss their own mistakes so they need a fresh pair of eyes to find their errors. You can be those eyes! You can also add editing to your services as well. Once you find the mistakes, you can then get paid to correct them. Professional proofreaders and editors either charge by the word, page, hour or project. This would totally be up to you. You also want to set a minimum price for small jobs.

3. Freelance Writer – Bloggers, ezine publishers, magazines, newspapers, etc., are constantly searching for good content for their readers and visitors. You do not have to be a college graduate to become a freelance writer. As long as you can write grammatically correct, helpful, interesting content, you can sell your services. By providing well-written content to all these different companies, you can build a lucrative business.

4. Unique Products – If you are creative enough to have discovered your own unique product then selling it online could be the catalyst to your success. You can develop your own online store or you can sell your product via online marketplaces such as Amazon. Using such sites might be a good starting point but be sure to look into developing your own online store.

5. Virtual Assistant (VA) – A virtual assistant is a professional who provides administrative, creative and/or technical help to another business. The skills of a VA are usually widespread and similar to an office manager. VA’s can perform many duties including managing appointments, setting up meetings, customer spreadsheets, billing, newsletters, customer inquiries, etc. The list is virtually endless!

6. Online Event Planner – Start your own online event planning business by helping other businesses plan and promote their online events. These events could include webinars, online classes, online networking events, online fundraisers, etc.

7. Website/Graphic Designer – Designing websites and/or graphics can be a lucrative career but you must be skilled in the appropriate programs. Be sure you know the ins and outs of web and/or graphic design before jumping into this business.

8. Freelance Researcher – Many businesses need information, facts, statistics, etc. but are unable to do all the time-consuming research themselves. Offer your services at a good price. Take the time to find all the facts needed. Present them in a professional manner and build a reputation as a good solid researcher.

9. Flipping Websites – You know about flipping houses but have you considered that flipping websites can be lucrative as well. Look for websites that are low in price and have potential for success. Tweak them for maximum success and make a high profit.

10. Webhost Reseller – Many of the big webhosts offer reseller opportunity. You purchase hosting space from them and resell them to your own customers. This is similar to reselling ebooks. Your income would be recurring as people will continuously pay for their hosting. This can add up to big profits!

There are many ways to earn a good living online but be sure to do your research on each one you are considering. Take the time to make a plan and know what you are getting into. Above all else, know this: Building a business (online or offline) requires a great deal of commitment, work and time. Keep this in mind as you are starting and building your business.

You will be frustrated at times, overwhelmed and feel like throwing in the towel. Work through those feelings. Remind yourself why you started your own business. It always helped me to think of my family, which is the reason I wanted to work from home. Turn those feelings into determination and commit to becoming a success!

Tips to Help Assess Whether a Franchise Business Is Your Thing

Have you thought of starting a franchise business and if yes, do you have what it takes to do it? Below are tips that will help you know whether a franchise opportunity is suitable for you.

Do you have a liking for proven business?

Answering this question will be important simply because a franchise business is all about proven business opportunities that have been found to be successful. If you like such businesses, then you fit the bill well and should consider starting the journey. It is however important to note that franchise business people normally benefit from the experience of others who have tried and tested possible business structure and therefore have invested their time and energy in the same. A franchise business is not suitable for people who like experimenting on their own commercial ideas.

Would you like to learn?

A good business person and especially those in the franchise opportunities thrive well through learning and implementing the business ideas from others who have gone ahead. Learning these business procedures and skills will help operate the business properly. You will find a franchise business to be ideal for you especially if you are ready and willing to learn new business processes and methods including those that go against your current knowledge and practices.

Are you are follower or a leader?

Franchise business opportunities are ideal for people who like adopting other people’s ideas rather than those seeking to come up with their own. Franchise businesses work well for followers and the systems will work perfectly if followed closely. Franchise opportunities don’t really work well for people who like adopting a lead position and therefore if that is you, then you might find the opportunity to be unsuitable.

Are you willing to put in some extra effort in business

Although this is a requirement in every kind of business, franchise opportunities normally demand more from you. The things you learn, the tried and tested systems will need to be implemented closely in order to see the success of your business. Pushing those lessons through will help enjoy greater success and you should be able to understand them. One thing is true about franchise business, and that is the demands it places on you as compared to other regular jobs. Franchise opportunities come in different forms and each form will have different requirements. For example van based business requires that you be on the move more visiting your clients while white collar businesses demand much of your working ours as you work from behind the desk. Franchise opportunity can be challenging in the beginning but this is bound to change as you get established.

Can you access spare capital that you can invest to start the business

As with every other business, capital is important when starting a franchise business. The quantity payable to the franchisor is however determined by the size of business that you intend to start and apart from this, you will also need more money to secure business premises, necessary supplies and other necessary facilities. You might have some money available somewhere or access it from a bank.

Is Your Business Bucket Leaking?

Most business owners have leaks somewhere in their business… like the leaks in a bucket when it has holes in it. Does your business have holes in it? If you’re being true to yourself, to your business, and to your clients then the answer is yes, you do have areas in your business with holes. Every business does.

So, if you have holes in your business and your business bucket is leaking, what are you doing about it?

Do you even see the leaks? Do you even know they’re there?

The worst thing that happens in your business when you have a leak is you don’t even know the leak is there. You can’t plug the hole because you don’t see it, and maybe you’re not even looking for the leak.

Take a look at where things are in your business, and find the things that aren’t working such as your finances aren’t where you want them, you don’t have as many clients as you would like in your programs, or your list isn’t growing on a daily basis. Examine whatever isn’t working in your business, and find your leaks.

Once you find your leaks, you have to plug them. Sometimes, this is a temporary plug, not that you want the leaks to open again, but sometimes, it’s important for you to do something immediately, as a stop-gap until you can find a permanent solution to the problem.

A business is a quickly moving and always changing entity, so prioritizing which leaks are the biggest and most critical is important. The most critical leaks are the ones costing your business the most money, the most clients, or the biggest cost to your reputation. These are the areas you want to address first.

For example, let’s take a look at the lead generation process. You can continually put new leads in your business bucket, but if they’re leaking out of the holes in your bucket then as fast as you’re putting them in they’re gone. When this happens, all of the work you’re doing on the front end of your business is for naught… and the front end of your business is where the hard work and biggest expense is.

Once you get somebody in the bucket, keeping them there isn’t always easy, but it’s easier and usually less expensive than getting them into your bucket initially.

So, really look at your business and find where the leaks are in your bucket. Then figure out what you’re going to do to stop them. When you do this, your business will flow much smoother, your clients will be more satisfied, and your profits will increase exponentially.